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Information provided with respect to the Fund’s Portfolio Holdings, Sector Weightings, Number of Holdings, Performance and Expense Ratios are as of the dates described in the articles and are subject to change at any time.

You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund’s prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the Fund’s prospectus by calling (888) 711-2837 or download a prospectus here.

Investing involves risk, including the possible loss of principal. You could lose money by investing in the Fund. There can be no assurance that a the Fund’s investment objectives will be achieved. Small-cap and mid-cap investing involves greater risk not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity and increased competitive threat. Stocks of micro-capitalization companies are more volatile, less liquid, involve substantial risks, and are subject to more abrupt or erratic movements than small, mid or large capitalization companies. The Fund invests in companies that appear to be growth-oriented companies. If the Adviser’s perceptions of a company’s growth potential are wrong, the securities purchased may not perform as expected, causing losses that will reduce the Fund’s return.

For Shareholder Services, please call (888)-711-AUER (2837).

Distributed by Ultimus Fund Distributors, LLC., 225 Pictoria Dr., Suite 450, Cincinnati, OH 45246 United States. (Member FINRA).

Auer Growth Fund