Leuthold Funds will distribute income dividends to shareholders of record as of September 14, 2016, with the x-date and payable date of September 15, 2016. For income distributions, click here.
Grizzly Short Fund
- 100 % Short Securities
|Individual Retirement Account (IRA):||$1000|
|Regular (non-IRA) Account:||$10,000|
|Automatic Investment Plan (AIP):||$50|
|Automatic Investment Plan (Non-AIP):||$100|
|Dividend Reinvestment:||No minimum|
Performance Note: Performance data quoted represents past performance. Past performance is no guarantee of future results. Investment returns and principal will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. For performance data current to the most recent month-end, please call Leuthold Funds’ Shareholder Services, toll-free: 1-800-273-6886.
- S&P 400 Midcap Index is a capitalization-weighted index measuring the performance of the mid-range sector of the U.S. stock market.
- S&P 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy based on the changing aggregate market value of these 500 stocks.
- The S&P 400 Midcap Index and S&P 500 are indexes only and cannot be invested in directly. Fund performance return figures are historical and reflect the change in share price, reinvested distributions, change in net asset value, and capital gains distributions, if any.
Expense Ratio Disclosure:
Per Prospectus, on 1/29/16 the annual net operating expense excluding acquired fund fees and dividends on short positions was 1.55%; the annual gross operating expense, including acquired fund fees and dividends on short positions, was 2.87%.
Please refer to the Prospectus for a more detailed explanation of the expense ratios.
The Grizzly Short Fund seeks capital appreciation by identifying companies whose stocks are expected to decline in price and selling those stocks short. Short selling refers to the practice of selling shares of stock in the belief that the price of that stock may decline, thereby enabling the Fund to then buy it back at a lower price. For our Grizzly Short Fund, the aggregate amount of its outstanding short positions typically will be approximately equal to its outstanding net assets. (*Note: see Short Selling Disclosures below.)
As with each of our Funds, we use a disciplined, unemotional and quantitative investment approach to select the investments for the Grizzly Short Fund. Stocks are chosen from a universe of domestic common stocks that have a market capitalization in excess of $1 billion (adjusted for market conditions), and trade, on average, shares having a value of $6 million or more each day (adjusted for market conditions). Only those stocks that demonstrate high liquidity are selected for the Fund portfolio. An important determining factor is the stock’s Vulnerability Index, a proprietary formula that attempts to identify those stocks that may be poised to decline in price or underperform the market.
The investment guidelines of the Grizzly Short Fund are based upon a system implemented in 1990 to manage individual portfolios with a similar investment objective. Please see the prospectus for more details and historical performance data.
*Risks of Short-Selling
Short selling carries additional risks which may have a negative effect on performance, including: market risk, short sale risk, rising stock market risk, high portfolio turnover risk, and overvaluation investment approach risk. These risks are explained in more detail in the fund's prospectus. For current prospectus, select link at the top of this page, or call Toll-Free 800-273-6886. Please read the prospectus carefully before you invest.
For additional mutual fund strategy specifics, please contact us at 888-200-0409, or email firstname.lastname@example.org
Investors should consider the investment objectives, risks, charges and expenses of the investment company carefully before investing. The Prospectus contains this and other information about the Fund. For current Prospectus, call toll-free 800-273-6886, or go to www.LeutholdFunds.com. Please read the Prospectus carefully before you invest.
Not FDIC Insured ~ No Bank Guarantee ~ May Lose Value Distributor: Rafferty Capital Markets, LLC, Garden City, NY 11530