The following information provides some indication of the risks of investing in the Fund by showing how the Fund’s performance has varied over time.
The bar chart depicts the change in performance from year to year during the periods indicated. If sales charges were included, the returns would be lower. The Fund is the successor to the Predecessor Vulcan Value Partners Fund, a mutual fund with substantially similar investment objectives, policies, and restrictions, as a result of the reorganization of the Predecessor Fund into the Fund on September 12, 2025. The performance provided in the bar chart and table is that of the Predecessor Fund. The table compares the Predecessor Fund’s average annual returns for the periods indicated to broad-based securities market indices. The indices are not actively managed and are not available for direct investment. The bar charts and performance tables assume reinvestment of dividends and distributions. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. Updated performance information is available on the Fund’s website at https://vulcanvaluepartners.com/strategies/large-cap/mutual-fund/ or by calling 1-877-524-9155 .
The bar chart above shows returns for Investor Class shares.
During the period shown in the bar chart, the best performance for a quarter was 24.87% (for the quarter ended June 30, 2020) and the worst performance was 28.51% (for the quarter ended June 30, 2022).
As of June 30, 2025, the year-to-date total return was 4.56% for the Investor Class shares.
Average Annual Total Returns (for the Periods Ended December 31, 2024) |
||||
| Institutional Class Shares | One Year | Five Year | Since Inception* | Ten Year |
| Return Before Taxes | 17.88% | 7.21% | 9.79% | N/A |
| Return After Taxes on Distributions | 17.68% | 6.00% | 8.46% | N/A |
| Return After Taxes on Distributions and Sale of Fund Shares | 10.59% | 5.34% | 7.43% | N/A |
| Investor Class Shares | ||||
| Return Before Taxes | 17.50% | 6.95% | N/A | 11.08% |
| Return After Taxes on Distributions | 17.41% | 5.77% | N/A | 9.95% |
| Return After Taxes on Distributions and Sale of Fund Shares | 10.36% | 5.14% | N/A | 9.02% |
| S&P
500 Total Return Index® (reflects no deductions for fees, expenses, or taxes) |
25.02% | 14.53% | 14.99% | 13.10% |
Russell 1000 Value Index® (reflects no deductions for fees, expenses, or taxes) |
14.37% | 8.68% | 9.46% | 8.49% |
| * | Inception date for Institutional Class Shares: May 1, 2019 |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the periods covered by the table above and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Shares through tax deferred arrangements such as an individual retirement account (“IRA”) or other tax-advantaged accounts. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.
The following information provides some indication of the risks of investing in the Fund by showing how the Fund’s performance has varied over time.
The bar chart depicts the change in performance from year to year during the periods indicated. If sales charges were included, the returns would be lower. The Fund is the successor to the Predecessor Vulcan Value Partners Small Cap Fund, a mutual fund with substantially similar investment objectives, policies, and restrictions, as a result of the reorganization of the Predecessor Fund into the Fund on September 12, 2025. The performance provided in the bar chart and table is that of the Predecessor Fund. The table compares the Fund’s average annual returns for the periods indicated to broad-based securities market indices. The indices are not actively managed and are not available for direct investment. The bar charts and performance tables assume reinvestment of dividends and distributions. The Fund’s past performance (before and after taxes) does not necessarily indicate how it will perform in the future. Updated performance information is available on the Fund’s website at https://vulcanvaluepartners.com/strategies/small-cap/mutual-fund or by calling 1-877-421-5078.
The bar chart above shows returns for Investor Class shares.
During the period shown in the bar chart, the best performance for a quarter was 39.75% (for the quarter ended December 31, 2020) and the worst performance was 42.25% (for the quarter ended March 31, 2020).
As of June 30, 2025, the year-to-date total return was 1.86% for the Investor Class shares.
Average Annual Total Returns (for the Periods Ended December 31, 2024) |
||||
| Institutional Class Shares | One Year | Five Year | Since Inception* | Ten Year |
| Return Before Taxes | -1.18% | -1.65% | 0.66% | - |
| Return After Taxes on Distributions | -1.73% | -3.75% | -1.45% | - |
| Return After Taxes on Distributions and Sale of Predecessor Fund Shares | -0.67% | -1.54% | 0.23% |
- |
| Investor Class Shares | ||||
| Return Before Taxes | -1.40% | -1.90% | N/A | 2.86% |
| Return After Taxes on Distributions | -1.84 | -3.97% | N/A | 0.87% |
| Return After Taxes on Distributions and Sale of Predecessor Fund Shares | -0.81 | -1.71% | N/A |
1.92% |
| S&P
500® Total Return Index (reflects no deductions for fees, expenses, or taxes) |
25.02% | 14.53% | 14.99% | 13.10% |
Russell 2000 Index® (reflects no deductions for fees, expenses, or taxes) |
11.54% | 7.40% | 7.77% | 7.82% |
Russell 2000 Value Index® (reflects no deductions for fees, expenses, or taxes) |
8.05% | 7.29% | 7.54% | 7.14% |
| * | Inception Date for Institutional Class Shares: May 1, 2019 |
After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the periods covered by the table above and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Shares through tax-deferred arrangements such as an individual retirement account (“IRA”) or other tax-advantaged accounts. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.