This Example is intended to help you compare the cost of investing in the Large Cap Fund with the cost of investing in other mutual funds.
This Example assumes that you invest $10,000 in the Large Cap Fund for the time periods indicated 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 Large Cap Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
| If you sell your shares in: | 1 Year | 3 Years | 5 Years | 10 Years |
|---|
| Large Cap Fund | $83 | $321 | $578 | $1314 |
* As of the prospectus dated October 30, 2018.
The Large Cap Fund seeks to achieve its investment objective by investing, under normal conditions, at least 80% of its assets in equity securities of companies with large market capitalizations. For this purpose, the Adviser defines a large capitalization company as any company with a market capitalization in excess of $5 billion, which definition is applied at the time of purchase. The Large Cap Fund may invest in American Depository Receipts and/or Global Depository Receipts.
The Adviser actively manages the Large Cap Fund by applying an economic return framework. This is a valuation model that uses cash flow, rather than traditional accounting measures such as corporate performance, earnings and book value, to determine a company’s value. The Adviser uses this methodology to identify attractively-priced companies, and as a result, the Large Cap Fund invests primarily in growth and value-style equity securities.
Benchmark
The Russell 1000 Index is an unmanaged index that is designed to measure the large cap segment of the U.S. equity universe. The index does not reflect investment management fees, brokerage commissions, or other expenses associated with investing in equity securities. You cannot invest directly in an index.
Investors may purchase or redeem Large Cap Fund shares on any business day by mail (IronBridge Funds, Inc., c/o U.S. Bancorp Fund Services, LLC, P.O. Box 701, Milwaukee, Wisconsin, 53201-0701) or by wire transfer. The minimum initial and subsequent investment amounts for the Large Cap Fund are as follows:
|
Minimum Initial Investments |
Minimum Subsequent Investments |
| Large Cap Fund |
$100,000 |
$1,000 |
Market Risk
The general level of stock prices as a whole could decline, causing a decline in the value of your investment.
Stock Selection Risk
Individual stocks may decline in value or not increase in value, even when the stock market in general is rising.
Liquidity Risk
The Adviser may not be able to sell the Large Cap Fund’s securities at a time or at a price would benefit the Fund.
Equity Securities Risk
Common equity stocks are subject to greater volatility and chance of decline than other securities, such as fixed-income securities.
Management Risk
There is no guaranty that the Adviser will choose investments that increase in value.
Growth Investing Risk
Growth companies are generally more susceptible than established companies to market events and sharp declines in value.
Value Investing Risk
Value stocks may not increase in price, may not issue the anticipated stock dividends or may decline in price, based upon the market’s belief of the issuer’s intrinsic worth.
American Depository Receipt (ADR) / Global Depository Receipt (GDR) Risk
ADRs are receipts issued by US banks evidencing ownership in securities of foreign issuers, and GDRs are receipts issued by banks in more than one country evidencing ownership in securities of foreign issuers. Securities of foreign issuers, and consequently ADRs and GDRs, may decrease in value due to changes in currency exchange rates, the economic climate in the issuer’s home country or for a variety of other reasons.
Loss of Money Risk
Loss of money is a risk of investing in the Large Cap Fund.
Book Value
The value at which an asset is carried on a balance sheet. To calculate, take the cost of an asset minus the accumulated depreciation.
Cash Flow
Measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income.
Technology Sector Risk
The technology sector historically has been more volatile than other sectors of the market, primarily due to market saturation, price competition, lack of acceptance of new equipment, products, or services by customers, and rapid product obsolescence. Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Technology companies, including information technology companies, may have limited product lines, markets, financial resources or personnel. The products of information technology companies, may face product obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Companies in the technology sector, including information technology companies, are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability of these companies. Finally, while all companies may be susceptible to network security breaches, certain companies in the technology sector, including information technology companies, may be particular targets of hacking and potential theft of proprietary or consumer information or disruptions in service, which could have a material adverse effect on their businesses. These risks are heightened for technology companies, including information technology companies, in foreign markets.