Fantastic 45

This article was published in the July 2016 issue of Morningstar FundInvestor.

In the article, “Kinnel’s Fantastic 45 Funds,” author Russell Kinnel once again cites the Berwyn Income Fund as one of 45 funds with good stewardship, low costs and manager tenure out of nearly 8,000 tested.

The 45 funds that made the list passed a stringent set of selection criteria.  To qualify, a fund must have:

  • Expense ratios in the cheapest quintile of the category
  • At least one manager who has at least $1,000,000 invested in the fund
  • An overall Morningstar Risk that is below the “High” level
  • A Morningstar Analyst Rating of Bronze or better[1]
  • A positive parent organization rating
  • Returns above the fund’s benchmark
  • A manager with at least five years’ worth of experience
  • Not been limited to institutional investors

The thoughts and opinions expressed in the article are solely those of the person speaking.  The discussion of individual companies should not be considered a recommendation of such companies by the Fund’s investment adviser.  The discussion is designed to provide a reader with an understanding of how the Fund’s investment adviser manages the Fund’s portfolio.  There can be no assurance with regard to future market movements. Mutual fund investing involves risk.  Principal loss is possible.  The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing.  The prospectus contains this and other important information about the Fund and may be obtained by calling 888-995-5505.  Read it carefully before investing.  Distributed by IMST Distributors, LLC.  The Fund may invest in small- and mid- cap companies, which involves additional risks such as limited liquidity and greater volatility.

[1] Morningstar Analyst Ratings are a fundamental, forward-looking rating that factors in qualitative and quantitative measures.  Morningstar analysts assign the ratings on a five-tier scale with three positive ratings of Gold, Silver, and Bronze, a Neutral rating, and a Negative rating.  The Analyst Rating is based on the analyst’s conviction in the fund’s ability to outperform its peer group and/or relevant benchmark on a risk-adjusted basis over the long term. If a fund receives a positive rating of Gold, Silver, or Bronze, it means Morningstar analysts think highly of the fund and expect it to outperform over a full market cycle of at least five years.  Source:  http://www.morningstar.com/InvGlossary/morningstar-analyst-rating-for-funds.aspx

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