Roumell Opportunistic Value Fund Institutional Class Shares
Prices as of 6/22/2018
  Current NAV Previous NAV Difference
  9.57 9.67 -0.10
Click Here for 2017 Estimated Distributions
Click Here for 12 Month Dividend History
Average Annual Total Return as of Quarter Ending 3/31/2018
  One Year Three Year Five Year Inception*
NAV 5.44% 3.40% 0.26% 1.71%
* The Fund inception was 12/31/2010.
Click Here for Most Recent Month End Returns
The performance information quoted above represents past performance, which is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Ticker Information
Minimum Investment
Initial $2,500.00
Subsequent $100.00
Portfolio ManagerJames C. Roumell
Investment AdvisorRoumell Asset Management, LLC
2 Wisconsin Circle, Suite 640
Chevy Chase, Maryland 20815
DistributorCapital Investment Group
100 E Six Forks Rd
Suite 200
Raleigh, NC 27609
Inception DateDecember 31, 2010
State Registrations
The fund is available for sale in the following states:AA, AE, AL, AP, AR, AZ, CA, CO, CT, DC, DE, FL, GA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, NE, NH, NJ, NM, NV, NY, OH, OR, PA, RI, SC, TX, UT, VA, VT, WA, WI, WV, WY
Shareholder Fees
Maximum Sales Charge (Load) Imposed On Purchases
(as a % of offering price)
Maximum Deferred Sales Charge (Load) (as a % of lesser of amount purchased or redeemed)None
Shareholder TransaFees
Redemption Fee
(as a % of amount redeemed; charged upon any redemption of shares within 60 days of their issuance)
Shareholder Fees
Exchange feeNone
Annual Fund Operating Expenses
Management Fees 0.92%
12b-1 FeesNone
Other Expenses0.41%
Interest on Securities Sold Short10.01%
Acquired Fund Fees and Expenses20.05%
Total Annual Fund Operating Expenses1.39%
Less Fee Waiver and/or Expense Limitation30.10%
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimursement1.29%
1 "Interest on Securities Sold Short" reflects interest expense on borrowed securities. Interest expense results from the Fund’s use of prime brokerage arrangements to execute short sales. Such expenses are required to be treated as a Fund expense for accounting purposes and are not payable to the Fund or Roumell Asset Management, LLC ("Roumell Asset Management" or the "Advisor"). Any interest expense amount will vary based on the Fund’s use of those investments.
2 "Acquired Fund" means any investment company in which the Fund invests or has invested during the previous fiscal year. The "Total Annual Fund Operating Expenses" and "Net Annual Fund Operating Expenses" will not match the Fund’s gross and net expense ratios reported in the Financial Highlights from the Fund’s financial statements, which reflect the operating expenses of the Fund and do not include Acquired Fund Fees and Expenses.
3The Advisor has entered into an Expense Limitation Agreement with the Fund under which it has agreed to waive or reduce its fees in an amount that limits the Fund’s annual operating expenses (exclusive of acquired fund fees and expenses, interest, taxes, brokerage fees and commissions, extraordinary expenses, and payments under the Rule 12b-1 distribution plan) to not more than 1.23% of the average daily net assets of the Fund through December 31, 2018. The Expense Limitation Agreement may not be terminated prior to that date. Further, net annual operating expenses for the Fund may exceed those contemplated by the waiver due to acquired fund fees and other expenses that are not waived under the Expense Limitation Agreement. During the past fiscal year, this expense ratio was limited by a similar Operating Plan between the Advisor and the Fund’s Administrator.
Principal Risks of Investing in the Fund
An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective. Generally, the Fund will be subject to the following additional risks: Opportunistic Investment Strategy Risk, Sector Risk, Non-diversified Fund Risk, cybersecurity Risk, Common Stocks, Preferred Stock Risk,Convertible Securities Risk, Large-Cap Securities Risk, Small-Cap and Mid-Cap Securities Risk, Micro-Cap Securities Risk, Risks Related to Investing in Other Investment Companies, Interest Rate and Credit Risk, Maturity Risk, Inflation Risk, Investment-Grade Securities Risk, Lower-rated Securities or "Junk Bonds" Risk, Risks of Investing in REITs, Risks of Investing in Corporate Debt Securities, Government Debt Markets May Be Illiquid or Disrupted, Foreign Securities Risk, and Currency Risk. More information about these risks and other risks can be found in the Fund’s prospectus.
An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available at the link below or by calling Shareholder Services at 1-800-773-3863. The prospectus should be read carefully before investing.
Download Information
Summary Prospectus
Privacy Policy
Annual Report
Semi-Annual Report
IRA Information
IRA Application
SEP IRA Instructions
SEP IRA Application
Cost Basis FAQ
Cost Basis Election Form
Portfolio Holdings
Portfolio Holdings as of 5/31/2018 Click to View

Click on any of the above links to view the document. For best results right-click the link and choose "Save as" to save the PDF file to your local disk drive. All documents are in Adobe Acrobat (.pdf) format.

The Fund may not be available for sale in all states. The information presented on this page is not an offer to sell or a solicitation of an offer to purchase the Fund.

Distributor: Capital Investment Group, Inc., Member FINRA/SIPC, 100 E Six Forks Road, Suite 200, Raleigh, NC 27609, (800) 773-3863.

There is no affiliation between Roumell Asset Management, LLC including its principals, and Capital Investment Group, Inc.

Copyright © 2018 The Nottingham Company