Total |
| The Investment House Growth Fund
|
| FUND
SUMMARY
|
| Investment
Objective
|
The
investment objective of The Investment House Growth Fund (the Fund) is long term capital appreciation.
|
| Fees
and Expenses of the Fund
|
These
tables describe the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such
as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.
|
| Shareholder Fees (fees paid directly from your investment)
|
|
|
| Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
|
|
|
| Example
|
This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
|
| It assumes
that you invest $10,000 in the Fund for the time periods indicated, reinvest dividends and distributions, and then redeem all of your
shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Funds
operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
|
|
|
| Portfolio
Turnover
|
The
Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher
portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.
These costs, which are not reflected in Total Annual Fund Operating Expenses or in the Example, affect the Funds performance.
During the most recent fiscal year, the Funds portfolio turnover rate was 1% of the average value of its portfolio.
|
| Principal
Investment Strategies
|
The
central premise of the Funds investment style is growth at a reasonable price or GARP. The Fund usually
invests in a diversified portfolio of common stocks from small, medium and large capitalization companies. These are chosen through in-depth
fundamental analysis of a companys financial reports and other public records. The Investment House LLC (the Adviser)
looks for stocks having all or some of the following characteristics:
| ● | Financial
strength and stability |
Under
normal circumstances, the Fund will invest primarily in common stocks. While it is anticipated that the Fund will invest across a range
of industries, certain sectors are likely to be overweighted compared to others because the Adviser seeks best investment opportunities
regardless of sector. The sectors in which the Fund may be overweighted will vary at different points in the economic cycle.
When
the Adviser believes market conditions are appropriate, the Fund may borrow money from banks to make additional portfolio investments.
These loans may be structured as secured or unsecured loans, and may have fixed or variable interest rates. The Fund may borrow an amount
equal to as much as one-third of the value of its total assets (which includes the amount borrowed). The Fund will only engage in borrowing
when the Adviser believes the return from the additional investments will be greater than the costs associated with the borrowing.
|
| Principal
Risks
|
| ● | Risks
of Investing in Common Stocks. The Fund invests in common stocks, which subjects the Fund and its shareholders to the risks associated
with common stock investing. These risks include the financial risk of selecting individual companies that do not perform as anticipated,
the risk that the stock markets in which the Fund invests may experience periods of turbulence and instability, and the general risk
that domestic and global economies may go through periods of decline and cyclical change. Many factors affect the performance of each
company that the Fund invests in, including the strength of the companys management or the demand for its products or services.
You should be aware that a companys share price may decline as a result of poor decisions made by management or lower demand for
the companys products or services. In addition, a companys share price may also decline as a result of national and global
events such as recession, war, epidemics or pandemics, terrorism, natural disasters and other events which may have a significant impact
on markets generally. |
| ● | Management
Risk. The Advisers strategy may fail to produce the intended results. |
| ● | Company
Risk. The value of the Fund may decrease in response to the activities and financial prospects of an individual company in the Funds
portfolio. If the prices of securities owned by the Fund fall, so will the value of the Fund. |
| ● | Volatility
Risk. Equity securities tend to be more volatile than other investment choices. The value of an individual company can be more volatile
than the market as a whole. This volatility affects the value of the Funds shares. |
| ● | Market
Risk. Overall stock market risks may also affect the value of the Fund. Factors such as domestic economic growth and market conditions,
interest rate levels and political events affect the securities markets. In addition, as with any mutual fund investments, the Funds
returns will vary and you could lose money. An investment in the Fund is not a deposit in any bank and is not insured or guaranteed by
the Federal Deposit Insurance Corporation or any other government agency. |
| ● | Style
Risk. The Fund invests primarily in growth stocks. The earnings growth rate of the companies in the Funds portfolio
may not meet the Advisers expectations, and the stock price may not increase as the Adviser anticipates. |
| ● | Smaller
Company Risk. To the extent the Fund invests in smaller capitalization companies, the Fund will be subject to additional risks. These
include: |
| ● | The
earnings and prospects of smaller companies are more volatile than larger companies. |
| ● | Smaller
companies may experience higher failure rates than do larger companies. |
| ● | The
trading volume of securities of smaller companies is normally less than that of larger companies and, therefore, may disproportionately
affect their market price, tending to make them fall more in response to selling pressure than is the case with larger companies. |
| ● | Smaller
companies may have limited markets, product lines or financial resources and may lack management experience. |
| ● | Sector
Risk. If the Funds portfolio is overweighted in a certain sector, any negative development affecting that sector will have
a greater impact on the Fund than on a fund that is not overweighted in that sector. To the extent the Fund is overweighted in the Technology
sector, it will be affected by developments affecting that sector. Companies in this sector may be significantly affected by intense
competition. In addition, technology products may be subject to rapid obsolescence. |
| ● | Borrowing
Risk. Borrowing magnifies the potential for gain or loss of the Fund, and therefore increases the possibility of fluctuation in the
Funds net asset value (NAV). This is the speculative factor known as leverage. Because the Funds investments
will fluctuate in value, whereas the interest obligations on borrowed funds may be fixed, during times of borrowing, the Funds
NAV may tend to increase more when its investments increase in value, and decrease more when its investments decrease in value. In addition,
interest costs on borrowings may fluctuate with changing market interest rates and may partially offset or exceed the return earned on
the borrowed funds. Also, during times of borrowing under adverse market conditions, the Fund might have to sell portfolio securities
to meet interest or principal payments at a time when fundamental investment considerations would not favor such sales. Unless profits
on assets acquired with borrowed funds exceed the costs of borrowing, the use of borrowing will diminish the investment performance of
the Fund compared with what it would have been without borrowing. |
| ● | Cybersecurity
Risk. The Fund and its service providers may be subject, directly or indirectly, to operational and information security risks
resulting from breaches in cybersecurity that may cause the Fund to lose or compromise confidential information, suffer data corruption
or lose operational capacity. Similar types of cybersecurity risks are also present for issuers of securities in which the Fund may invest,
which may cause the Funds investments in such companies to lose value. There is no guarantee the Fund will be successful in protecting
against cybersecurity breaches. |
|
| Performance
Summary
|
The
bar chart and performance table shown below provide some indication of the risks and variability of investing in the Fund by showing
the changes in the Funds performance from year to year for the last ten years, and by showing how the Funds average annual
total returns for 1 year, 5 years and 10 years compare with those of a broad measure of market performance. How the Fund has performed
in the past (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance
information, current through the most recent month end, is available by calling 1-888-456-9518.
|
|
The
Funds year-to-date return through September 30, 2024 was 26.63%
During
the period shown in the bar chart, the highest return for a quarter was 30.61% during the quarter ended June 30, 2020 and the lowest
return for a quarter was -23.29% during the quarter ended June 30, 2022.
|
| Average
Annual Total Returns for Periods Ended December 31, 2023
|
After-tax
returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state
and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown, and after-tax
returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual
retirement accounts.
|
|
|
| The Investment House Growth Fund | Risks Of Investing In Common Stocks [Member]
|
| ● | Risks
of Investing in Common Stocks. The Fund invests in common stocks, which subjects the Fund and its shareholders to the risks associated
with common stock investing. These risks include the financial risk of selecting individual companies that do not perform as anticipated,
the risk that the stock markets in which the Fund invests may experience periods of turbulence and instability, and the general risk
that domestic and global economies may go through periods of decline and cyclical change. Many factors affect the performance of each
company that the Fund invests in, including the strength of the companys management or the demand for its products or services.
You should be aware that a companys share price may decline as a result of poor decisions made by management or lower demand for
the companys products or services. In addition, a companys share price may also decline as a result of national and global
events such as recession, war, epidemics or pandemics, terrorism, natural disasters and other events which may have a significant impact
on markets generally. |
|
| The Investment House Growth Fund | Management Risk [Member]
|
| ● | Management
Risk. The Advisers strategy may fail to produce the intended results. |
|
| The Investment House Growth Fund | Company Risk [Member]
|
| ● | Company
Risk. The value of the Fund may decrease in response to the activities and financial prospects of an individual company in the Funds
portfolio. If the prices of securities owned by the Fund fall, so will the value of the Fund. |
|
| The Investment House Growth Fund | Volatility Risk [Member]
|
| ● | Volatility
Risk. Equity securities tend to be more volatile than other investment choices. The value of an individual company can be more volatile
than the market as a whole. This volatility affects the value of the Funds shares. |
|
| The Investment House Growth Fund | Market Risk [Member]
|
| ● | Market
Risk. Overall stock market risks may also affect the value of the Fund. Factors such as domestic economic growth and market conditions,
interest rate levels and political events affect the securities markets. In addition, as with any mutual fund investments, the Funds
returns will vary and you could lose money. An investment in the Fund is not a deposit in any bank and is not insured or guaranteed by
the Federal Deposit Insurance Corporation or any other government agency. |
|
| The Investment House Growth Fund | Style Risk [Member]
|
| ● | Style
Risk. The Fund invests primarily in growth stocks. The earnings growth rate of the companies in the Funds portfolio
may not meet the Advisers expectations, and the stock price may not increase as the Adviser anticipates. |
|
| The Investment House Growth Fund | Smaller Company Risk [Member]
|
| ● | Smaller
Company Risk. To the extent the Fund invests in smaller capitalization companies, the Fund will be subject to additional risks. These
include: |
| ● | The
earnings and prospects of smaller companies are more volatile than larger companies. |
| ● | Smaller
companies may experience higher failure rates than do larger companies. |
| ● | The
trading volume of securities of smaller companies is normally less than that of larger companies and, therefore, may disproportionately
affect their market price, tending to make them fall more in response to selling pressure than is the case with larger companies. |
| ● | Smaller
companies may have limited markets, product lines or financial resources and may lack management experience. |
|
| The Investment House Growth Fund | Sector Risk [Member]
|
| ● | Sector
Risk. If the Funds portfolio is overweighted in a certain sector, any negative development affecting that sector will have
a greater impact on the Fund than on a fund that is not overweighted in that sector. To the extent the Fund is overweighted in the Technology
sector, it will be affected by developments affecting that sector. Companies in this sector may be significantly affected by intense
competition. In addition, technology products may be subject to rapid obsolescence. |
|
| The Investment House Growth Fund | Borrowing Risk [Member]
|
| ● | Borrowing
Risk. Borrowing magnifies the potential for gain or loss of the Fund, and therefore increases the possibility of fluctuation in the
Funds net asset value (NAV). This is the speculative factor known as leverage. Because the Funds investments
will fluctuate in value, whereas the interest obligations on borrowed funds may be fixed, during times of borrowing, the Funds
NAV may tend to increase more when its investments increase in value, and decrease more when its investments decrease in value. In addition,
interest costs on borrowings may fluctuate with changing market interest rates and may partially offset or exceed the return earned on
the borrowed funds. Also, during times of borrowing under adverse market conditions, the Fund might have to sell portfolio securities
to meet interest or principal payments at a time when fundamental investment considerations would not favor such sales. Unless profits
on assets acquired with borrowed funds exceed the costs of borrowing, the use of borrowing will diminish the investment performance of
the Fund compared with what it would have been without borrowing. |
|
| The Investment House Growth Fund | Cybersecurity Risk [Member]
|
| ● | Cybersecurity
Risk. The Fund and its service providers may be subject, directly or indirectly, to operational and information security risks
resulting from breaches in cybersecurity that may cause the Fund to lose or compromise confidential information, suffer data corruption
or lose operational capacity. Similar types of cybersecurity risks are also present for issuers of securities in which the Fund may invest,
which may cause the Funds investments in such companies to lose value. There is no guarantee the Fund will be successful in protecting
against cybersecurity breaches. |
|