The Boyar Value Fund (Nasdaq: BOYAX) gained 5.84% annualized for the 10 year period ending May 31, 2008, its first decade of operation. The Fund ranked in the eighteenth percentile within Large-Cap Core funds tracked by Morningstar. The Morningstar Large-Cap Core category average gain was only 4.58 % for the same period and the S&P 500 was 4.21%.
The performance data quoted here represents past performance and does not represent future results. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The fund's manager is waiving a portion of its management fees. Results shown reflect the waiver, without which the results would have been lower. The conditions that produced the performance shown may not continue to exist such that performance at those levels may not be repeated in the future and those returns may vary from the S &P 500 index..
“We are excited to have beaten the S&P 500 over a ten year period, a feat very few mutual fund managers can claim. We look forward to continuing to work hard to find value for our investors,” states Mark Boyar, the fund’s Portfolio Manager. The Fund’s Adviser, Boyar Asset Management, Inc., has long provided high net worth clients with an extensively researched, long-term approach to stock market investing.
The Boyar Value Fund seeks long-term capital appreciation, which it pursues by investing primarily in equity securities of companies that are believed by the Funds’ investment adviser to be intrinsically undervalued. Intrinsic value, as the adviser defines it, is the estimated amount shareholders of a company would receive if the entire enterprise were liquidated or acquired by another company. If the Fund can purchase assets at significant discounts to their intrinsic value, the adviser believes that after a reasonable period of time, either the stock market will accurately reflect those values, or the assets of the corporation will be acquired by a third party.
The fund is characterized by very low portfolio turnover and the normal investment time horizon is three to five years. Holding the equity of good companies purchased at bargain prices allows compounding to work its magic without the return-eroding effects of commissions and capital gains taxes.
Before investing you should carefully consider the Fund’s investment objectives, risks, fees and expenses. For performance information current to the most recent month-end and other information is contained in the prospectus, a copy of which is available at http://www.boyarvalue.com/boyax.html or by calling (800) 266-5566. Investment advisory services for the Fund are provided by Boyar Asset Management, Inc. (the “Adviser”); the fund is managed by Ladenburg Thalmann Fund Management LLC (the “Manager”) and is distributed by Ladenburg Thalman & Co. Inc (the “Distributor”). The S & P 500 is an unmanaged index of stocks which investments can not be made directly into. All references to total return represent a fund's gains over a specified period of time. Total return includes both income (in the form of dividends or interest payments) and capital gains or losses (the increase or decrease in the value of a security). Total return is calculated by taking the change in a fund's NAV, assuming the reinvestment of all income and capital gains distributions (on the actual reinvestment date used by the fund) during the period, and then dividing by the initial NAV. Total returns does not adjust total return for sales charges or for redemption fees.
Contacts:
Jonathan Boyar, 212-995-8300, ext
215.
