Schwartz Value Focused Fund

Schwartz Value Focused Fund (“SVF”) is a mutual fund which seeks long-term capital appreciation through value investing – purchasing shares of strong, growing companies at reasonable prices.

Because small and medium size companies offer vast reward opportunities, fundamental analysis is used to identify emerging companies with outstanding business characteristics. Sometimes the best values are issues not followed by Wall Street analysts. Most value investors attempt to buy fair companies at an excellent price. SVF attempts to buy excellent companies at a fair price. The essence of value investing is finding companies with great business characteristics which by their nature, offer a margin of safety. A truly fine business requires few assets to produce a consistently expanding stream of income. SVF also purchases shares which are temporarily out-of-favor and selling below intrinsic value.

A common thread in SVF investments is that the market price is below what a corporate or entrepreneurial buyer might be willing to pay for the entire business. The auction nature and the inefficiencies of the stock market are such that SVF can often buy a minority interest in a fine company at a small fraction of the price per share necessary to acquire the entire company.

Past performance does not guarantee future results.

Mutual Fund investing involves risk, principal loss is possible. The Fund’s investments in small- and mid- capitalization companies could experience greater volatility than investments in large-capitalization companies.

Prospective investors should read the prospectus carefully and consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus, which can be obtained by calling 1-800-449-9240 or online at www.schwartzvaluefocusedfund.com, contains this and other important information.

Distributed by Ultimus Fund Distributors, LLC.