Investment Philosophy

Investment Objective

Footprints Discover Value Fund seeks to deliver a total return derived from capital appreciation and income.

Investment Philosophy

Evidently the processes by which the securities market arrives at its appraisals are frequently illogical and erroneous….Most of them can be traced to one or more of three basic causes: exaggeration, oversimplification or neglect.

Benjamin Graham and David Dodd Security Analysis

At heart of the Absolute Value philosophy is the principle that price and value are not one and the same. Market exaggeration, oversimplification, and neglect go a long way to obscure an investment’s true value.  The goal of the Footprints Discover Value Fund is to discern an investment’s inherent worth despite the noise and emotion of the market.  Many of the securities within our universe have been neglected and have fallen out of favor, which has the potential to open substantial gaps between current market price and value.  Over time these deviations are noticed by the marketplace and begin to converge. The Footprints Discover Value Fund seeks to create gains for its shareholders through the market’s recognition of value.

 

Investments in mutual funds involve risks. Investment return and principal value will fluctuate with changing market conditions so when redeemed, shares may be worth more or less than their original cost.  The Fund can have Fixed Income risk, which in general, the price of a fixed income security falls when interest rates rise.  The Fund may invest high yield securities, also known as “junk bonds” and mortgage-backed securities, which can have greater risk characteristics than traditional debt securities.  
The use of leverage through borrowing money to purchase securities can cause the Fund to incur additional expenses and magnify the Fund’s gains or losses.  Investments in lesser-known, small and medium capitalization companies may be subject to more abrupt or erratic market movements than larger, more established organizations.  

There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.