Epiphany FFV Strategic Income Fund
EPIAX (Class A, available load-waived on certain platforms)
EPICX (Class C)
FUND INFORMATION (12/31/2016)
- Total Assets: $25.4 million
- Number of Holdings: 227
- Investment Category: US Intermediate-Term Bond
- Investment Sub-Advisor: Dana Investment Advisors, Inc.
- TTM Yield: 2.07%
FUND INVESTMENT STRATEGY
The goal of the Fund is to attain an attractive portfolio yield in a diversified manner with an emphasis on preserving capital. The process is designed to be consistent over the entire market cycle-building a portfolio which is suitable for a variety of investor styles in all stages of the economy. The Fund aims to pick up yield where it is reasonably offered, credit risk where it is appropriate, and interest rate sensitivity when it is sensible. To achieve this, a relative value approach to different income producing sectors is used. The approach also offers some diversification benefits, avoiding speculation on either credit or the direction of interest rates.
FAITH AND FAMILY VALUES SCREENING
The Epiphany FFV Strategic Income Fund uses the FFV Scorecard® to screen investments. The focus of the screening is to protect the dignity of human life, support and protect employees and their families, and to reasonably safeguard the environment. The screening is consistent with the USCCB Socially Responsible Investment Guidelines. Business Practices are screened in four major areas: Life and Family Exclusions, Social Justice, Environmental Record, and Corporate Gov-ernance Practices. The screening process first excludes companies with business activities that are prohibited in the life and family exclusions. Companies that pass the initial screening are then additionally scored to determine their impact on society. The screening criteria used is periodically reviewed by Trinity’s Advisory board, which consists of respected religious leaders who provide guidance on the criteria being used.
Mutual Funds involve risk, including possible loss of principal. The fund may invest in REITs. Investing in REITs involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. The Fund may invest in ETFs and other investment companies. As a result, your cost of investing in the Fund may be higher than the cost of investing directly in Underlying Fund shares and may be higher than other mutual funds that invest directly in equities. Stocks of mid-cap and small-cap companies are more risky than stocks of larger companies. The Adviser invests in equity securities only if they meet both the Fund’s investment and moral requirements, and as such, the return may be lower than if the Adviser made decisions based solely on investment considerations. Investments in convertible securities subject the Fund to the risks associated with both fixed-income securities and common stocks. There is a risk that issuers and counterparties will not make payments on securities and other investments held by the Fund, resulting in losses to the Fund. The Fund may invest in high yield securities, also known as “junk bonds.” High yield securities provide greater income and opportunity for gain, but entail greater risk of loss of principal. The Fund applies a redemption fee of 2.0% for shares held less than 60 days.
The gross expense ratio for Epiphany FFV Fund is 1.68% for Class A and 2.43% for Class C. The gross expense ratio for Epiphany FFV Strategic Income Fund is 1.52% for Class A and 2.27% for Class C. The Adviser has contractually agreed to waive fees and/or reimburse expenses, but only to the extent necessary to limit Total Annual Operating Expenses, excluding brokerage fees and commissions; borrowing costs, such as interest; taxes; indirect expenses incurred by the underlying funds in which the Fund invests, and extraordinary expenses to 1.75% of the average daily net assets for Class A shares and 2.50% of the average daily net assets of Class C shares through February 28, 2018. The Board of Trustees may terminate the fee waiver and expense reimbursement agreement upon 60 days notice to shareholders.