Investment Risks - Slow Capital Growth Fund
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Mar. 01, 2026 |
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The
principal risks of investing in the Fund are summarized below. There
may be circumstances that could prevent the Fund from achieving its investment goal and you
may lose money by investing in the Fund. You
should carefully consider the Fund’s investment risks before deciding whether to invest
in the Fund. The order of the below risk factors does not indicate the significance of any
particular risk factor and the relative significance of each risk below may change over time.
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| Stock Market Risk [Member] |
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Stock
Market Risk. Overall stock market risks may affect the value of the Fund. Factors such as domestic and foreign economic growth
and market conditions, interest rate levels, pandemics, natural disasters, and political events affect the securities markets. Movements
in the stock market may affect adversely the specific securities held by the Fund on a daily basis, and, as a result, such movements
may negatively affect the Fund’s net asset value per share (“NAV”). When the value of the Fund’s investments
goes down, your investment in the Fund decreases in value and you could lose money. |
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| Common Stock Risk [Member] |
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| ● | Common
Stock Risk. 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 company’s management or the demand for its products
or services. You should be aware that a company’s share price may decline as a result
of poor decisions made by management or lower demand for the company’s products or
services. In addition, a company’s 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. |
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| Volatility Risk [Member] |
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Volatility
Risk. Common stocks tend to be more volatile than other investment alternatives. The value of an individual company can be more
volatile than the market as a whole. This volatility affects the value of the Fund’s shares. |
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| Management Risk [Member] |
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Management
Risk. Fund management’s skill in choosing appropriate investments will play a large part in determining whether the Fund
is able to achieve its investment objective. To the extent appropriate investments are not chosen, the Fund may decline in value
and you could lose money. |
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| Growth Risk [Member] |
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Growth
Risk. If the Adviser’s perceptions of a company’s growth potential are wrong, the securities purchased may not perform
as expected, reducing the Fund’s return. |
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| Largecap Risk [Member] |
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Large-Cap
Risk. Large capitalization companies tend to be less volatile than companies with smaller market capitalization. This potentially
lower risk means that the Fund’s share price may not rise as much as share prices of funds that focus on smaller capitalization
companies. |
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| Small And Midcap Risk [Member] |
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Small
and Mid-Cap Risk. The Fund may invest in securities of small and mid-cap companies, which involve greater volatility than investing
in larger and more established companies. Small and mid-cap companies can be subject to more abrupt or erratic share price changes
than larger, more established companies. Securities of these types of companies have limited market liquidity, and their prices may
be more volatile. You should expect that the value of the Fund’s shares will be more volatile than a fund that invests exclusively
in large-capitalization companies. |
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| Sector Risk [Member] |
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Sector
Risk. The Adviser may allocate more of the Fund’s investments to particular segments of the market. A particular market
sector can be more volatile or underperform relative to the market as a whole. Stocks within the same group of industries will decline
in price due to sector-specific, market or economic developments. To the extent that the Fund has over-weighted holdings within a
particular sector, such as Information Technology, the Fund is subject to an increased risk that its investments in that particular
sector may decline because of changing expectations for the performance of that sector. |
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| Limited History Of Operations Risk [Member] |
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Limited
History of Operations Risk. The Fund has a limited history of operations. Accordingly, investors in the Fund bear the risk that
the Fund may not be successful in implementing its investment strategy, may not employ a successful investment strategy, or may fail
to attract sufficient assets under management to realize economies of scale, any of which could result in the Fund being liquidated
at any time without shareholder approval and at a time that may not be favorable for all shareholders. Such a liquidation could have
negative tax consequences for shareholders and will cause shareholders to incur expenses of liquidation. |
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| New Adviser Risk [Member] |
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New
Adviser Risk. The Adviser has only recently begun serving as an investment advisor to mutual funds. As a result, investors do
not have a long-term track record of managing a fund from which to judge the Adviser, and the Adviser may not achieve the intended
result in managing the Fund. |
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| Changes In Trade Negotiations Risk [Member] |
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| ● | Changes
in Trade Negotiations Risk. In recent years, the U.S. government has indicated its intent
to alter its approach to international trade policy and in some cases to renegotiate, or
potentially terminate, certain existing bilateral or multi-lateral trade agreements and treaties
with foreign countries, and has made proposals and taken actions related thereto. Tariffs
on imported goods could further increase costs, decrease margins, reduce the competitiveness
of products and services offered by current and future portfolio companies and adversely
affect the revenues and profitability of portfolio companies whose businesses rely on goods
imported from such impacted jurisdictions. |
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| Highly Volatile Markets Risk [Member] |
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| ● | Highly
Volatile Markets Risk. The prices of financial instruments in which the Fund may invest
can be highly volatile. The prices of instruments in which the Fund may invest are influenced
by numerous factors, including interest rates, currency rates, default rates, governmental
policies and political and economic events (both domestic and global). Moreover, political
or economic crises, or other events may occur that can be highly disruptive to the markets
in which the Fund may invest. In addition, governments from time to time intervene (directly
and by regulation), which intervention may adversely affect the performance of the Fund and
its investment activities. The Fund is also subject to the risk of a temporary or permanent
failure of the exchanges and other markets on which its investments may trade. Sustained
market turmoil and periods of heightened market volatility make it more difficult to produce
positive trading results, and there can be no assurance that the Fund’s strategies
will be successful in such markets. |
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| Legislation And Regulatory Risk [Member] |
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| ● | Legislation
and Regulatory Risk. New or amended regulations may be imposed by the Commodity Futures
Trading Commission (the “CFTC”), the SEC, the Federal Reserve, the European Union
(the “EU”) or other financial regulators, other governmental or intergovernmental
regulatory authorities or self-regulatory organizations that supervise the financial markets,
and could adversely affect the Fund. In particular, the CFTC and the SEC are empowered to
promulgate a variety of new rules pursuant to recently enacted financial reform legislation
in the United States. The Fund also may be adversely affected by changes in the enforcement
or interpretation of statutes and rules by these regulatory authorities or self-regulatory
organizations. |
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| Market Disruptions Risk [Member] |
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| ● | Market
Disruptions Risk. The Fund may incur major losses in the event of market disruptions
and other extraordinary events in which historical pricing relationships become materially
distorted. The risk of loss from pricing distortions is compounded by the fact that in disrupted
markets many positions become illiquid, making it difficult or impossible to close out positions
against which the markets are moving. Market disruptions caused by unexpected political,
military and terrorist events may from time to time cause dramatic losses for the Fund and
such events can result in otherwise historically low-risk strategies performing with unprecedented
volatility and risk. |
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| U S Debt Ceiling And Budget Deficit Risks [Member] |
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| ● | U.S.
Debt Ceiling and Budget Deficit Risks. U.S. debt ceiling and budget deficit concerns
have increased the possibility of additional credit-rating downgrades and economic slowdowns,
or a recession in the United States. Although U.S. lawmakers have historically passed legislation
to raise the federal debt ceiling on multiple occasions, ratings agencies have lowered or
threatened to lower the long-term sovereign credit rating on the United States. In August
2023, Fitch Ratings Inc., downgraded the U.S. credit rating to AA+ from AAA, citing fiscal
deterioration over the next three years and close encounters with default due to ongoing
political dysfunction. The impact of a U.S. default on its obligations or any further downgrades
to the U.S. government’s sovereign credit rating or its perceived creditworthiness
could adversely affect the U.S. and global financial markets and economic conditions. In
addition, disagreement over the federal budget has caused the U.S. federal government to
shut down for periods of time. Continued adverse political and economic conditions could
have a material adverse effect on the Fund’s business, financial condition and results
of operations. |
Economic
problems in a single country are increasingly affecting other markets and economies, and a continuation of this trend could adversely
affect global economic conditions and world markets. Uncertainty and volatility in the financial markets and political systems of the
U.S. or any other country, including volatility as a result of the ongoing conflicts between Russia and Ukraine and Israel and Hamas
and the rapidly evolving measures in response, may have adverse spill-over effects into the global financial markets generally.
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| Cybersecurity Risk [Member] |
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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 Fund’s investments in such companies to lose value. There is no guarantee the Fund will be successful
in protecting against cybersecurity breaches. |
An
investment in the Fund is not a deposit at a bank and is not insured or guaranteed by any government agency.
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| Risk Lose Money [Member] |
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| Risk [Text Block] |
There
may be circumstances that could prevent the Fund from achieving its investment goal and you
may lose money by investing in the Fund.
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| Risk Not Insured Depository Institution [Member] |
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An
investment in the Fund is not a deposit at a bank and is not insured or guaranteed by any government agency.
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