CM Advisors Fund

Fund Overview

Daily Price
as of
04/26/2017

 Price($)(%)
CMAFX$12.12$0.040.33%

Fund Facts
as of 12/31/2016 (subject to change)

Ticker  CMAFX
AUM $72.42 Million
# of Holdings 49
Inception Date 5/13/2003
Min. Initial Investment $2,500 
Advisor CM Fund Advisors

Overview

For investors seeking long-term growth of capital, the CM Advisors Fund provides an opportunity to capitalize on the potential growth of undervalued stocks across multiple capitalization sizes and industry sectors. Our goal is to uncover companies with exceptional intrinsic value and purchase their stocks when they are temporarily underpriced or out of favor.

Investment Style

All Cap Value

Fund Objective

Long-term growth of capital

Investment Strategy

The Fund invests in companies it believes are selling at deep discounts to their intrinsic value. Using quantitative, qualitative, and fundamental analyses, among the factors considered are historical, free-cash flow, acquisition, and leveraged buyout analyses.

The Fund may invest in micro, small, medium, and large-cap securities. In addition, the Fund may hold high levels of cash for extended periods of time when it believes cash represents a value relative to alternative investments.  This Fund has no load and no 12b-1 fees.

 

Performance

Performance

Quarterly Cumulative

 

Cumulative
Total Returns (%) as of
03/31/17
Quarter YTD 1YR 3YR 5YR 10YR Since
Inception 1

 

CM Advisors Fund-6.62-6.6222.35-11.9512.738.6051.11
Russell 3000 Value Index32.992.9919.9728.0184.8678.07239.52

Quarterly Annualized

 

Average Annualized
Total Returns (%) as of
03/31/17
Quarter YTD 1YR 3YR 5YR 10YR Since
Inception 1

 

CM Advisors Fund-6.62-6.6222.35-4.152.420.833.02
Russell 3000 Value Index32.992.9919.978.5813.085.949.20

Monthly Annualized

 

Monthly
Total Returns (%) as of
03/31/17
1 Month YTD 1YR 3YR 5YR 10YR Since
Inception 1

 

CM Advisors Fund-5.38-6.6222.35-4.152.420.833.02
Russell 3000 Value Index3-1.012.9919.978.5813.085.949.20
  1. Inception date for CM Advisors Fund - May 13, 2003.
  2. Gross expense ratio for CM Advisors Fund - 1.42%
  3. The Russell 3000 Value Index measures the performance of the broad value segment of U.S. equity value universe. It includes those Russell 3000 Value Index companies with lower price-to-book ratios and lower forecasted growth values. 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 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 Shareholder Services at 1-888-859-5856.  

The Fund imposes a 1% redemption fee on shares redeemed within 180 days of their purchase. The annual returns of the classes of shares will differ only to the extent that the classes do not have the same expenses or inception dates. See the Fund’s current prospectus for more information on the Fund’s redemption fee. The performance information above does not reflect the imposition of the redemption fee.  The expense cap for Class I shares contractually limits ordinary operating expenses to not more than 1.50% of the average daily net assets of the CM Advisors Fund until July 1, 2014.

 

Risk

Risk

Performance in Down Quarters
as of 12/31/16 (subject to change)

Quarter End CMAFX (%) Russell 3000 Value Adj (%) Spread (%)
12/31/2015 -2.64 5.41 -8.05
09/30/2015 -15.45 -8.59 -6.86
06/30/2015 -0.53 0.00 -0.53
3/31/2015 -5.77 -0.51 -5.26
12/31/2014 -5.23 5.31 -10.54
9/30/2014 -11.57 -0.87 -10.70
6/30/2012 -4.03 -2.26 -1.77
9/30/2011 -14.12 -16.63 2.51
6/30/2011 -1.82 -0.68 -1.14
6/30/2010 -10.90 -11.09 0.19
3/31/2009 -11.64 -17.00 5.36
12/31/2008 -25.65 -22.41 -3.24
9/30/2008 2.74 -5.26 8.00
6/30/2008 -5.29 -5.17 -0.12
3/31/2008 -8.45 -8.55 0.10
12/31/2007 -5.15 -5.91 0.76
9/30/2007 -5.47 -0.75 -4.72
3/31/2005 1.77 -0.26 2.03

Upside / Downside Capture
as of 12/31/2016

Date Up Down
Inception ↑79.65 ↓81.71
Ten Year ↑89.12 ↓91.09
Five Year ↑101.00 ↓110.05
Three Year ↑106.89 ↓117.80
One Year ↑152.74 ↓137.69

Upside and Downside Capture Ratios show you whether a given fund has outperformed--gained more or lost less than a broad market benchmark during periods of market strength and weakness, and if so, by how much. Upside capture ratios for funds are calculated by taking the fund’s monthly return during months when the benchmark had a positive return and dividing it by the benchmark return during that same month. Downside capture ratios are calculated by taking the fund’s monthly return during the periods of negative benchmark performance and dividing it by the benchmark return.

10 Year Standard Deviation

Standard Deviation
as of 12/31/2016

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 Fund 9.73 10.82 15.83 13.81
Russell 3000 Value Index ADJ 10.97 10.66 16.30 14.56
S&P 500 Total Return Index* 10.60 10.33 15.24 13.60

 

 

Composition

Composition

Top 10 Holdings
as of 12/31/2016 (subject to change)

Holdings Fund (%)
Unit Corporation 6.14
Era Group Inc. 5.09
SPDR S&P Oil & Gas Exploration & Production ETF 5.01
DMC Global Inc. 4.72
Colfax Corporation 4.55
Layne Christensen Company 4.24
Allegheny Technologies Incorporated 3.79
Wells Fargo & Company 3.79
InterGroup Corporation 3.79
Berkshire Hathaway Inc. Class B 3.60
Top 10 as % of Net Assets 44.73

Sector Breakdown
as of 12/31/2016 (subject to change)

Sector Fund Index
Consumer Discretionary 6.87 12.02
Consumer Staples 0.08 9.31
Energy 34.23 7.47
Financials 15.50 14.83
Health Care 4.08 13.50
Industrials 19.93 10.24
Information Technology 3.44 20.62
Materials 11.29 3.42
Real Estate 3.79 2.80
Telecommunication Services 0.00 2.64
Utilities 0.00 3.14
Cash 0.78 0.01

Market Cap Exposure
as of 12/31/2016 (subject to change)

Small Cap Value portfolios seek to provide long-term capital appreciation by investing primarily in the stocks of small publicly traded companies that are considered to be under-valued and whose market capitalization is less than $2 billion. Small capitalization securities typically carry additional risks since smaller companies historically have experienced a greater degree of market volatility than average.

Mid Cap Value portfolios are those with market capitalization between $1 billion and $5 billion with a price-earnings ratio less than or equal to 15. They seek a favorable long-term return, mainly through capital appreciation from a portfolio invested mostly in the stocks of medium-size U.S. companies that appear undervalued based on our evaluation of their potential worth. May be suitable for investors who wish to employ a value approach that aims to slightly outperform the fund's benchmark index over time. Mid-cap securities can have limited marketability and may be subject to more abrupt or erratic market movements than large-cap stocks.

Fund Characteristics
as of 12/31/2016 (subject to change)

Characteristic Value
Weighted Average Market Cap (in Millions) $33,634.14
Median Market Cap (in Millions) $1,493.38
Price / Earnings Ratio (Trailing 12 mo.) 13.69
Price / Earnings Ratio (Forward 12 mo) 19.63
Estimated 3- to 5-Yr EPS Growth 9.77%
Alpha 0.07
Beta 1.29
Turnover Rate 34.07%
Price to Sales Ratio 1.16%
Enterprise Value to Sales Ratio 1.16%
Price to Tangible Book Value 1.85
Total Debt to Capital (%) 42.91

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

Distributions

Distributions

2016

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
 9/29/2016  $0.0442      $11.66

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 $0.0045     $9.47 
06/30/2010 $0.0075      $8.43 
09/30/2010 $0.0100      $9.14 
12/31/2010 $0.0130      $10.09 

2011

2011 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
03/31/2011  $0.0091      $10.46
12/30/2011  $0.0159      $9.71

2012

2012 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
03/30/2012 $0.0028     $10.93 
12/31/2012 $0.0507      $11.13 

2013

2013 Distributions - None

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
         

2014

2014 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
06/27/2014  $0.0303      $14.26

2015

2015 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
12/30/2015  $0.0400      $9.18

Literature

Literature

Factsheets

Reports

For Retirement Accounts

Fund Information by Share Class

Class I Shares

The Russell 3000 Value Index measures the performance of the broad value segment of U.S. equity value universe. It includes those Russell 3000 Value Index companies with lower price-to-book ratios and lower forecasted growth values. It is not possible to invest directly in the index.

The S&P 500 Index is an index of 500 stocks chosen for market size, liquidity and industry grouping, among other factors. The S&P 500 is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large cap universe. It is not possible to invest directly in the index.

*Due to the discontinuation of the S&P 500 ADJ Index by IDC, we have elected to substitute the S&P 500 Total Return Index for benchmark purposes starting on October 1, 2015.  Historical performance before October 1, 2015 will be representative of the S&P 500 ADJ index, while performance after October 1, 2015 will be the returns as calculated by Standard & Poor's Financial Services LLC.  

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 reinvestment 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 Shareholder Services at 1-888-859-5856.

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.