MFG Select Infrastructure OverviewQuarterlyHistorical NAVs
The Frontier MFG Select Infrastructure Fund's goal, also referred to as its investment objective, is to seek attractive risk-adjusted returns over the medium- to long-term, while reducing the risk of permanent capital loss.
Principal Investment Strategy
Under normal circumstances,the Fund invests a minimum of 80% of its net assets in the equity securities of infrastructure companies.
The Fund will invest in common stock, stapled securities (an equity security comprised of multiple parts) and Real Estate Investment Trusts (REITs) of infrastructure companies as part of its principal investment strategy.
The Fund will concentrate in the securities of companies operating in infrastructure-related industries.
The Fund will invest in both U.S. and non-U.S. companies and may invest in companies of any size, with a minimum market capitalization of $500 million.
The Fund’s subadviser, Magellan Asset Management Limited doing business as MFG Asset Management (“MFG Asset Management”) seeks to provide investors with exposure to the infrastructure sector and to deliver stable investment returns relative to other equity funds. The Fund will invest in a non-diversified portfolio of securities of infrastructure companies that MFG Asset Management has determined have an appropriate capital structure, are likely to generate reliable income streams and are likely to benefit from inflation protection. The Fund will normally hold a limited number (typically 20 to 40) of companies that meet these criteria. The Fund will typically hold up to 20% of its assets in cash and cash equivalents.
Total Returns as of June 30, 2020
|YTD ||1 Year ||Since Inception* |
|10.51% ||-12.60% ||-8.26% ||2.23% |
*Average annual return
Annual Fund Operating Expenses (As of Prospectus Dated 10/31/2019)
(expenses that are deducted from Fund assets)
| ||Institutional Class ||Service Class |
|Management Fees ||0.80% ||0.80% |
|Distribution (12b-1) Fees ||None ||None |
|Other Expenses || || |
| Shareholder Servicing Fee ||None ||0.15% |
| Additional Other Expenses ||0.44% ||0.45% |
|Total Other Expenses ||0.44% ||0.60% |
|Acquired Fund Fees and Expenses ||0.01% ||0.01% |
|Total Annual Fund Operating Expenses ||1.25% ||1.41% |
|Fee Waiver ||-0.44% ||-0.45% |
|Net Expenses ||0.81% ||0.96% |
A redemption fee of 2.00% will be charged on shares of the Fund redeemed 30 days or less from their date of purchase.
Pursuant to an expense cap agreement between the Fund’s adviser, Frontegra Asset Management, Inc. ("Frontegra") and the Fund, Frontegra agreed to waive its management fee and/or reimburse the Fund’s operating expenses to the extent necessary to ensure that the Fund’s total operating expenses (excluding acquired fund fees and expenses) do not exceed 0.80% and 0.95% of the Fund's average daily net assets for Institutional and Service Class shares, respectively. The expense cap agreement for the Fund will continue in effect until October 31, 2021, with successive renewal terms of one year unless terminated by Frontegra or the Fund prior to any such renewal. “Other Expenses” are presented before any waivers or expense reimbursements.
Past performance does not guarantee future results. The principal value of an investment and investment return 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 quoted and may be obtained by calling 888-825-2100. Investment performance reflects contractual fee waivers in effect. In the absence of such waiver, total returns would be reduced.
The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the Frontier Funds, and it may be obtained by downloading or calling 888-825-2100. To download, select the Prospectus option located on the right sidebar.
Mutual fund investing involves risk; principal loss is possible.
Principal Risk Factors. The main risks of investing in the Fund are:
Market Risks. The Fund's investments are subject to market risk, which may cause the value of the Fund's investments to decline. If the value of the Fund's investments goes down, the share price of the Fund will go down, and you may lose money. U.S. and international markets have experienced extreme volatility in recent years. Global economics and financial markets are increasingly interconnected, which increases the possibility that conditions in one country or region might adversely impact issuers in a different country or region. Continuing market volatility may have adverse effects on the Fund.
Common Stock Risks. Common stocks held by the Fund will fluctuate in value based on the earnings of the company and on general industry and market conditions, leading to fluctuations in the Fund's share price.
REIT Risks. A REIT's share price may decline because of adverse developments affecting the underlying infrastructure industry, including changes to interest rates. The returns of REITs may trail returns of the overall market. The Fund's investments in REITs may be subject to special tax rules, or a particular REIT may fail to qualify for the favorable federal income tax treatment applicable to REITs, the effect of which may have adverse tax consequences for the Fund and shareholders. The Fund will indirectly bear its proportionate share of expenses incurred by REITs in which the Fund invests in addition to the expenses incurred directly by the Fund.
Stapled Securities Risks. The Fund will invest in stapled securities to gain exposure to infrastructure. A stapled security is a security that is comprised of multiple parts - generally, a trust and a share of a company - that cannot be separated from one another and is treated as one unit for trading purposes. The value of a stapled security may go down as a result of the performance of any part of the security.
Non-Diversification Risks. The Fund is non-diversified, which means it may invest more of its assets in a smaller number of companies than funds that are diversified. Gains or losses on a single stock may have greater impact on the Fund than for other funds that invest in a greater number of companies.
Management Risks. The Fund is subject to management risk as an actively-managed investment portfolio and depends on the decisions of the portfolio manager to produce the desired results.
Infrastructure Investment Risks. The Fund's investments in infrastructure companies will expose the Fund to potential adverse economic, regulatory, political, and other changes affecting such investments. Issuers of securities in infrastructure-related businesses are subject to a variety of factors that may adversely affect their business or operations, including high interest costs in connection with capital construction programs, high leverage, costs associated with environmental or other regulations and the effects of economic slowdowns. Rising interest rates could lead to higher financing costs and reduced earnings for infrastructure companies.
Stock Selection Risks. The stocks selected for the Fund may decline in value or not increase in value when the stock market in general is rising.
Foreign Securities Risks. Investments in securities of foreign companies involve additional risks, including less liquidity, currency-rate fluctuations, political and economic instability, differences in financial reporting standards and securities market regulation, and imposition of foreign withholding taxes.
Emerging Markets Risks. Emerging market countries may have relatively unstable governments, weaker economies and less developed legal systems with fewer securities holder rights. Emerging market economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to default. Emerging market securities also tend to be less liquid.
Currency Risks. The value of the Fund's foreign holdings as measured in U.S. dollars may be affected unfavorably by changes in foreign currency exchange rates. The Fund may also incur costs in connection with conversions between various currencies.
Large Capitalization Risks. Large-cap companies perform differently from, and at times and for extended periods of time worse than, stocks of mid- and small-cap companies. Larger, more established companies may be unable to respond quickly to new competitive challenges.
New Fund Risks. As a new fund, there can be no assurance that the Fund will grow or maintain an economically viable size.
Liquidity Risks. Liquidity risk is the risk that certain securities may be difficult or impossible to sell the quantity or sell at the time and price that MFG Asset Management would like to sell. MFG Asset Management may have to lower the price, sell other securities instead or forego an investment opportunity.
Cybersecurity Risks. Despite the various protections utilized by the Fund and its service providers, systems, networks, or devices utilized by the Fund potentially can be breached. The Fund and its shareholders could be negatively impacted as a result of a cybersecurity breach.
The Frontier Funds are not offered for sale in countries other than the United States and its territories.