Plumb Equity Fund
Investment Objective.
The Plumb Equity Fund (Equity Fund) seeks long-term capital appreciation.
Principal Strategy.
To pursue its investment objective, the Fund normally invests at least 80% of its
assets, including borrowings for investment purposes, in common stocks and other
equity securities, such as ETFs, options, preferred stocks and securities convertible
into such equity securities. The Fund generally invests in higher quality companies
that are trading at significant discounts to portfolio managers’ estimates of their
intrinsic value. These companies may include large, medium, and smaller sized companies.
The Fund’s portfolio managers employ a blended investment style, which they generally
characterize as “growth at a reasonable price”. However, the portfolio managers
may prefer a certain investment style and look for growth stocks or value stocks
when warranted by market conditions and other factors.
The Fund seeks to provide investors with competitive after-tax investment returns
by holding quality securities for the long term, which is designed to promote greater
tax-efficiency. The Fund anticipates that capital growth will be accompanied by
dividend income and growth of dividend income over time.
The Fund typically sells securities in companies when their market valuations rise
significantly above the portfolio managers’ estimates of intrinsic business values,
long-term economic fundamentals significantly deteriorate, or better opportunities
are presented in the marketplace.