Everyone loves an underdog.

And you’ve found the underdog fund that the Wall Street Journal named the Small-Cap Core Category King for 2022.

The Auer Growth Fund.

AUERX, the smallest fund of the top 5 in the category, was the top-performer out of 909 funds, out-earning the category average by 24.4%.*

2022 Return

AUERXSmall-Cap Core Average
+10%-14.4%

Everyone loves an underdog.

And you’ve found the underdog fund that the Wall Street Journal named the Small-Cap Core Category King for 2022.

The Auer Growth Fund.

AUERX, the smallest fund of the top 5 in the category, was the top-performer out of 909 funds, out-earning the category average by 24.4%.*

2022 Return

AUERXSmall-Cap Core Average
+10%-14.4%

*  Wall Street Journal, 1/9/23, p. R5.

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.            

Investing involves risk, including the possible loss of principal.  You could lose money by investing in the Fund.  There can be no assurance that 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.

The Auer Growth Fund (AUERX) was listed as Category Kings in 9 Realms for the Small-Cap Core category.  Category Kings in 9 Realms selection criteria is top performing funds in each category, ranked by one-year total returns (changes in net asset values with reinvested distributions) of December 30, 2022, assets are as of November 30, 2022.  All data are final.  1- year, 3-year, 5-year and 10-year performance are also shown in the listing.  The Auer Growth Fund is listed as number one on the 1-year ranking out of 909 funds.

Total Gross Expense Ratio: 2.37% as of March 31, 2022 Prospectus.

Performance quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than what is stated. Investment return and principal value will vary with market conditions so that an investor’s shares, when redeemed, may be worth more or less than the original cost. For current to most recent month-end performance, please visit sbauerfunds.com/performance or call us at 888-711-2837. The Fund imposes a 1% redemption fee on proceeds redeemed or exchanged within 7 days of purchase. The performance illustrated does not include the effect of the redemption charge. If it did, performance would have been lower.

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)

Everyone loves an underdog.

And you’ve found the underdog fund that the Wall Street Journal named the  Small-Cap Core Category King  for 2022.

  The Auer Growth Fund.  

AUERX, the smallest fund of the top 5 in the category, was the top performer for 2022, out-earning the category average by 24.4%.*

2022 Return

AUERXSmall-Cap Core Average
+10%-14.4%