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GVM Managed Volatility Fund Fact Sheet   20110531
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GVM Managed Volatility Fund Fact Sheet 20110531

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  • 1. GIBSON VOLATILITY MANAGEMENT Data As Of 05/31/2011 ABOUT THE FUND FUND DETAILS The GVM Managed Volatility Fund seeks to achieve growth of capital by attempting to capture most of the positive returns of the equity market with less risk and volatility than other equity investments. The Fund’s portfolio willShare Class Advisor Institutional primarily consist of a combination of sector and broad-based exchange-traded funds (ETFs) and equity index optionsSymbol/Ticker GVMVX GVMIX based on GVM’s proprietary Dynamic Delta ProgramSM.CUSIP 98147A667 98147A659Minimum Investment $2,500 $100,000 INVESTMENT STRATEGYSales Load None None  Designed to capture most of the equity upside in positive12b-1 Fee 0.25% None markets while attempting to reduce risk in times of stressManagement Fee 1.00% 1.00%  Due to the high costs of hedging equity risk, we focus on enhancing total return in upward trending markets through index call selling while hedging market risk through index put purchases only when risk in the Fund Advisor and Investment Team markets is heightened  The Advisor utilizes its rules-based Dynamic Delta ProgramSM to determine the market trend and appropriateGibson Volatility Management, LLC (“GVM”) hedge, if any  The goal is to optimize the balance between portfolio appreciation potential, risk management, and hedgingShawn Gibson Portfolio Manager costs  The Fund’s investment process is disciplined and rules-Chris White Co– Portfolio Manager based to take emotion out of the decision-making process  Our strategy is designed to be repeatable and scalable Gibson Volatility Management, LLC 117 S. 14th Street, Suite 205 Richmond, Virginia 23219 phone (804) 269-7721 e-mail chris@gibsonvm.com www.gvmfunds.com Page 1
  • 2. GIBSON VOLATILITY MANAGEMENT Fund Performance (as of 05/31/2011) Monthly Performance 1 Year Jan Feb 2 Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD 2011 0.30% 0.70% 1.88% -1.26% 1.60% 1-Month Return 3-Month Return GVM Managed Volatility Fund -1.26% 1.29% S&P 500 Index -1.35% 1.35% Quarter-End Returns as of 3/31/2011 1,2 Annualized QTD YTD Since Inception GVM Managed Volatility Fund 1.00% 1.00% 1.00% S&P 500 Index 1.39% 1.39% 1.39%In the interest of limiting expenses of the Fund, Gibson Volatility Management, LLC (the Adviser) has contractually agreed to reduce fees and reimburseexpenses in order to keep Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions, Acquired Fund Fees and Expenses andextraordinary expenses) from exceeding 1.74% and 1.99% of the Fund’s Institutional and Advisor Class Shares’ (respectively) average daily net assets untilFebruary 28, 2012. If waivers had not been made, returns would have been lower than reported.Performance data quoted represents past performance. The Funds past performance does not guarantee future results. The investment return and principalvalue of an investment in the Fund will fluctuate so that an investors shares, when re-deemed, may be worth more or less than their original cost. Currentperformance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained bycalling 1-800-673-0550. 2 Growth of $10,000 Since Inception $10,600 $10,400 $10,200 $10,000 GVM Managed  Volatility Fund $9,800 S&P 500 Index $9,600 $9,400 $9,200 2/1/2011 3/3/2011 4/2/2011 5/2/2011This chart tracks a hypothetical $10,000 investment in the fund’s Institutional Class since inception as of the date indicated on this report and assumes thereinvestment of dividends and capital gains.1 Performance figures based on Institutional share class (GVMIX) returns as of the date of the indicated date.2 Fund inception date: 02/01/11, all figures reflect this start date, including the comparison against the S&P 500 Index. Gibson Volatility Management, LLC 117 S. 14th Street, Suite 205 Richmond, Virginia 23219 www.gvmfunds.com Page 2
  • 3. GIBSON VOLATILITY MANAGEMENT Portfolio Characteristics (as of 05/31/2011) Dynamic Delta ProgramSM Signal Positive Long Equity Exposure 100.67% Dynamic Delta ProgramSM Overlay Exposure (55.51%) Net Market Exposure 45.16% Sector Weightings Telecommunications 3.11% Telecommunications Basic Materials 3.60% Basic Materials Energy Energy 12.68% Financial Financial 15.17% Industrial Industrial 11.03% Technology Consumer Staples Technology 17.95% Utilities Consumer Staples 10.81% Healthcare Utilities 3.32% Consumer Discretionary Healthcare 11.65%Consumer Discretionary 10.68% Gibson Volatility Management, LLC 117 S. 14th Street, Suite 205 Richmond, Virginia 23219 phone (804) 269-7721 e-mail chris@gibsonvm.com www.gvmfunds.com Page 3
  • 4. GIBSON VOLATILITY MANAGEMENTImportant DisclosuresInformation provided with respect to the Fund’s portfolio holdings, sector weightings, number of holdings, and/orexpense ratios are as of the indicated date and are subject to change at any time.Investors should consider the investment objectives, risks, and charges and expenses of this Fund carefully beforeinvesting. This and other information is contained in the Funds prospectus, which may be obtained by calling 1-800-673-0550. Please read the prospectus carefully before investing. Distributed by First Dominion Capital Corp.,Richmond, VA. Member FINRA.The S&P 500 Index is a free-float capitalization-weighted index of 500 large-cap common stocks actively traded inthe United States. The Dynamic Delta Program Signal indicates the Advisor’s opinion of the trend of the S&P 500Index based on the results of their proprietary models. The Average Short Call Strike measures the weighted averageof the index call strike prices that the Advisor has sold. The Average Long Put Strike measures the weighted averageof the index put strike prices that the Advisor has purchased. Strike prices are the values at which an investor agreesto buy or sell the underlying security (through physical settlement of shares) or index (through cash settlement). TheLong Equity Exposure measures the percentage of the Fund’s NAV held in long equity positions. The Dynamic DeltaProgram Overlay Exposure measures the short market exposure in the fund resulting from hedging activities in theDynamic Delta Program. The Net Market Exposure is the difference between the Long Equity Exposure and DynamicDelta Program Exposure and is intended to illustrate the overall market exposure of the Fund.Disclosures About RiskDomestic economic growth and market conditions, interest rate levels, and political events are among the factorsaffecting the securities markets of the Fund’s investments. There is the risk that these and other factors may adverselyaffect the Fund’s performance. The loss of money is a risk of investing in the Fund. Investment in the Fund is alsosubject to the following risks: market risk, ETF risk, options risk, non-diversification risk, U.S. governmentalobligations risk, REITs risk and foreign risk. More information about these risks and other risks can be found in theFund’s prospectus. Gibson Volatility Management, LLC 117 S. 14th Street, Suite 205 Richmond, Virginia 23219 phone (804) 269-7721 e-mail chris@gibsonvm.com www.gvmfunds.com Page 4