Phocas Small Cap Value
The Frontier Phocas Small Cap Value Fund's goal, also referred to as its investment objective, is long-term total investment return through capital appreciation.
Principal Investment Strategy
The Fund seeks to achieve its goal primarily through investing at least 80% of its net assets in domestic common stocks and other equity securities (including convertible preferred stocks and warrants) of small-capitalization companies, consistent with companies within the Russell 2000® Value Index. For purposes of the 80% policy, net assets include any borrowings for investment purposes.
The Fund will pursue its investment objective by investing in a diversified portfolio of small-capitalization securities selling at discounts to their fair value as assessed by the investment and research team of Phocas Financial Corporation ("Phocas"), the Fund's subadviser. Phocas will typically invest in 80 to 120 companies with initial weightings between 0.50% to 1.50% of total Fund value in order to have broad industry representation and reduce individual security risk within the Fund.
Total Returns as of December 31, 2019
*Average annual return
The performance of the Frontier Phocas Small Cap Value Fund reflects historical performance of the Phocas Small CapValue Fund (the "Predecessor Fund"). Effective October 8, 2010, the Predecessor Fund was reorganized into the Fund. Returns since October 8, 2010, reflect the performance of the Fund's Class L Shares. Effective November 1, 2012, the Class L shares were redesignated as Institutional Class shares.
The recent growth in the equity market has helped to produce short-term returns for some asset classes that are not typical and may not continue in the future. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes.
Annual Fund Operating Expenses (As of Prospectus Dated 10/31/19)
(expenses that are deducted from Fund assets)
|Distribution (12b-1) Fees
|Shareholder Servicing Fee
|Additional Other Expenses
|Total Other Expenses
|Acquired Fund Fees and Expenses
|Total Annual Fund Operating Expenses
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 0.95% and 1.10% of the Fund’s average daily net assets attributable to Institutional Class 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.
Before investing, carefully consider the Fund's investment objectives, risks, charges, and expenses. 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. Read it carefully before investing.
Mutual fund investing involves risk; principal loss is possible.
Principal Risk Factors.
An investment in the Fund is subject to risks, and you could lose money on your investment in the Fund. There can be no assurance that the Fund will achieve its investment objective. Small-capitalization funds typically carry additional risks since smaller companies generally have a higher risk of failure. Their stocks are subject to a greater degree of volatility, trade in lower volume and may be less liquid. Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value. The risks associated with an investment in the Fund can increase during times of significant market volatility. The Fund also has specific principal risks, which are listed below.
The principal risks of investing in the Frontier Phocas Small Cap Value Fund include: market risk, common stock risk, stock selection risk, REIT risk, management risk, small capitalization company risk, value investing risk, sector emphasis risk, financial services sector risk, cash and cash equivalents risk, and cybersecurity risk.
More detailed information regarding these risks can be found in the Fund's prospectus.
The Frontier Funds are not offered for sale in countries other than the United States and its territories.