Value Investing Since 1974

CM Advisors Fixed Income Fund

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Fund Overview

Overview

While most fixed income funds focus on a security's income potential when building a portfolio, the CM Advisors Fixed Income Fund selects securities which the managers believe have significant appreciation potential. We believe this results in a portfolio which can maximize total return for investors.

Investment Style

Multisector Bond

Fund Objective

Preserve capital and maximize total return

Investment Strategy

To meet its investment objective, the Fund primarily seeks to purchase U.S. dollar denominated fixed income securities that the Fund believes are undervalued. While the Fund may invest in all types of fixed income securities, the primary focus is on corporate bonds and U.S. Treasury securities. This Fund has no load and no 12b-1 fees.

CMFIX Morningstar Risk-Adjusted Returns as of June 30, 2017

Category  Overall Rating 3 Year  5 Year  10 Year 
Short-Term Bond 5Stars 5Stars 4Stars 5Stars
  (of 450 funds) (of 450 funds) (of 376 funds)  (of 261 funds)

 

Daily Price
as of
10/17/2017

 PriceChange from prior day(%)
CMFIX$11.48$0.000.00%

Fund Materials

Factsheet »  6/30/2017
Manager Commentary »  04/28/2017
Prospectus »  06/28/2017
Annual Report » 04/28/2017
Semiannual Report »  08/31/2016
All Forms & Literature »  12/31/2016

Fund Facts
as of 6/30/2017 (subject to change)

Ticker  CMFIX
AUM $69.02 Million
# of Holdings 62
Inception Date 3/24/2006
Min. Initial Investment $2,500*
Advisor CM Fund Advisors

*$1,000 for tax-deferred and tax-exempt accounts, including IRA accounts, and $100 for automatic investment plan

CMFIX5star340x

Performance

Performance

Quarterly Cumulative

Cumulative
Total Returns (%) as of
Quarter YTD 1YR 3YR 5YR 10YR Since
Inception 1

CM Advisors Fixed Income Fund20.682.202.138.009.2654.5374.10
Bloomberg Barclays U.S. Aggregate Index30.853.140.078.3610.7651.9664.52

Quarterly Annualized

Average Annualized
Total Returns (%) as of
Quarter YTD 1YR 3YR 5YR 10YR Since
Inception 1

CM Advisors Fixed Income Fund20.682.202.132.601.794.454.93
Bloomberg Barclays U.S. Aggregate Index30.853.140.072.712.064.274.42

Monthly Annualized

Monthly
Total Returns (%) as of
Invalid data source. Please correct the following errors:
    1 Month YTD 1YR 3YR 5YR 10YR Since
    Inception 1

    CM Advisors Fixed Income Fund2-0.022.202.132.601.794.454.93
    Bloomberg Barclays U.S. Aggregate Index3-0.483.140.072.712.064.274.42
    1. Inception date for CM Advisors Fixed Income Fund is March 24, 2006
    2. Gross expense ratio for CM Advisors Fixed Income Fund is 0.89%
    3. The Bloomberg Barclays Capital U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset backed securities, collateralized mortgage backed securities, and a small amount of foreign bonds traded in the U.S.. The Bloomberg Barclays Capital U.S. Aggregate Bond Index is a market capitalization-weighted index, meaning that securities in the index are weighted according to the market size of each bond type. Bonds included in this index have at least one year until final maturity.  It is not possible to invest directly in the index.

    Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes reinvestment of dividends and capital gains. The investment return and principal value of an investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

    The performance information above does not reflect the imposition of the redemption fee.  For performance information current to the most recen month end, call Shareholder Services at 1-888-859-5856.

     

    Risk

    Risk

    10 Year Standard Deviation

    Standard Deviation
    as of 06/30/2017 (subject to change)

    Standard deviation is a statistical measure in which a composite's total return has varied over time. The greater the standard deviation, the greater a composite's volatility. Conversely, the lower the standard deviation the lower the composite's volatility.

      3 Years 5 Years 10 Years Since Inception 
    CM Advisors Fixed Income Fund 2.03 1.79 4.52 5.23
    Barclays US Aggregate Bond 2.86 2.84 3.26 3.19
    Barclays US Aggregate Gov't/Credit 3.53 3.40 4.19 4.05

    Composition

    Composition

    Top 10 Holdings
    as of 6/30/2017 (subject to change)

    Holdings Fund (%)   
    Cash Equivalent 12.79  
    U.S. Treasury Note 2.75% due 11/15/23 9.48  
    U.S. Treasury Note 2.375% due 12/31/20 9.33  
    U.S. Treasury Note 2% due 07/31/20 8.85  
    U.S. Treasury Note 0.75% due 12/31/17 7.27  
    Microsoft Corp. 1.55% due 08/08/21 1.99  
    Murphy Oil Corp. 3.7% due 12/01/22 1.98  
    Alcoa Inc 5.87% due 02/23/22 1.85  
    Allegheny Technologies Inc 9.375% due 06/01/19 1.62  
    ONEOK Partners LP 2% due 10/01/17 1.55  

     

    Sector Breakdown
    as of 6/30/17 (subject to change)

    Sector Fund
    Cash 12.8
    US Gov't Obligations 35.69
    Energy 10.62
    Basic Materials 9.15
    Industrials 3.64
    Consumer Cyclical 5.14
    Con sumer Staples 3.91
    Healthcare 3.49
    Financials 7.11
    Technology 6.89
    Utilities 1.59

     

    Fund Characteristics
    as of 6/30/2017 (subject to change)

    Characteristic Value
    Average Yield-to-Maturity 2.2%
    Average Maturity (yrs) 2.96
    Average Coupon 3.9%
    Average Duration (yrs) 2.67
    30-day SEC Yield 1.40%
    30-day SEC Yield (w/o waivers) 1.40%
    Number of Issues 62

    What do these terms mean?
    (roll over any term for a brief explanation)

     

    Distributions

    Distributions

    2017

    Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
    03/30/2017  0.0849      11.49
    06/30/2017  0.0683      11.46
    09/30/2017  0.0676      11.47

    2010 - 2015 (Click Any Year to View)

    2010

    2010 Distributions

    Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
    03/31/2010 $0.0800     $11.06 
    06/30/2010 $0.0775      $11.46 
    09/30/2010 $0.0550      $11.69 
    12/31/2010 $0.0450  $0.1030   $11.42 

     

    2011

    2011 Distributions

    Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
    03/31/2011 $0.0540     11.45 
    06/30/2011 $0.0560      11.55 
    09/30/2011 $0.0500      11.84 
    12/30/2011 $0.0461  $0.2595  $0.0269 11.62 

     

    2012

    2012 Distributions

    Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
    03/30/2012 $0.0450     11.67 
    06/29/2012 $0.0475      11.71 
    09/28/2012 $0.0375      11.81 
    12/31/2012 $0.0415  $0.0104  $0.1303  11.60 

     

    2013

    2013 Distributions

    Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
    03/28/2013 $0.0370     $11.61 
    06/28/2013 $0.0340      $11.45 
    09/30/2013 $0.0320      $11.48 
    12/31/2013 $0.0348     $0.0037 $11.46 

     

    2014

    2014 Distributions

    Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
    03/31/2014 $0.0390     $11.51 
    06/30/2014 $0.0358     $11.57 
    09/30/2014 $0.0350      $11.51 
    12/31/2014 $0.0381   $0.0542 $11.44

    2015

    2015 Distributions

    Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
    03/30/2015 $0.0375     $11.48
    06/29/2015 $0.0350     $11.41
    09/29/2015 $0.0382     $11.35
    12/30/2015 $0.0764   $0.0184 $11.08

    2016

    2016 Distributions

    Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
    03/30/2016 $0.0951     $11.48
    06/30/2016 $0.0945     $11.38 
    09/30/2015 $0.0896      $11.57 
    12/30/2015 $0.0878  $0.0154 $0.0185 $11.44

     

     

     

     

     

     

     

     

     

     

    Literature

    Literature

    Factsheets

    Reports

    For Retirement Accounts

    Fund Information by Share Class

    Class I Shares

     

    The Bloomberg Barclays Capital U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset backed securities, collateralized mortgage backed securities, and a small amount of foreign bonds traded in the U.S.. The Bloomberg Barclays Capital U.S. Aggregate Bond Index is a market capitalization-weighted index, meaning that securities in the index are weighted according to the market size of each bond type. Bonds included in this index have at least one year until final maturity.  It is not possible to invest directly in the index.

    The Bloomberg Barclays 1-3 Year Government/Credit Index is an index consisting of Treasury or government agency securities and investment grade corporate debt securities with maturities of one to three years. It is not possible to invest directly in the index.

    Investment in the Fund is subject to investment risks, including, without limitation, market risk, interest rate risk, management style risk, business and sector risk, small company risk, non-diversified fund risk, foreign securities risk, bond interest rate risk and credit risk. For more information about the Fund, including the Fund's objectives, charges, expenses and risks (including more information about the risks listed above), please read the prospectus.  

    Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes investment of dividends and capital gains. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For performance information current to the most recent month end, call 1-888-859-5856. While Fund performance is compared to an index, it is not possible to invest in an index.  

    The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% threeyear rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance does not guarantee future results.

    An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available by calling 1-800-664-4888 or writing the advisor at 805 Las Cimas Parkway, Suite 430, Austin, Texas 78746. You may also call the Fund directly at 1-888-859-5856. The prospectus should be read carefully before investing.

    The information presented on this page is not an offer to sell or a solicitation of an offer to purchase the Fund.

    Distributor: Ultimus Fund Distributors, LLC. 225 Pictoria Drive, Suite 450, Cincinnati, Ohio 45246. Phone number 1-888-859-5856.

     

     

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