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Contact: Rob Solt
563-288-2773 or 866-747-9030
For
Immediate Release: Tuesday, April 11, 2006
Both Pearl Mutual Funds Outperform S&P 500 in First Quarter
of 2006
Net Assets Rise Above $140 Million
Muscatine,
IA – Both of the Pearl Mutual Funds, based in Muscatine,
Iowa, outperformed the Standard & Poor’s 500 Index during the first
quarter of 2006. Pearl Aggressive Growth Fund (PFAGX) gained
9.85 percent and Pearl Total Return Fund (PFTRX) gained
8.28 percent, while the S&P 500 Index gained 4.21 percent.
Pearl Funds’ combined net assets grew to $140,901,381 at April
6, 2006.
Morningstar gives its 4-Star rating to the 33 -year-old
Pearl Total Return Fund and its 5-Star rating to the 4¾ -year-old Pearl
Aggressive Growth Fund. 5-Stars is the highest rating given by
Morningstar, the independent mutual funds rating service.
In
the 3 years ended March 31, 2006, Pearl Aggressive Growth Fund
gained 146.76% and Pearl Total Return Fund gained 99.94%.
The S&P 500 gained 61.03%. These 3-year gains are not annualized.
Pearl Aggressive Growth Fund’s average annual gains for years
ended March 31, 2006 were: 1 year 30.70% and 3 years 35.13%.
Pearl Total Return Fund’s
average annual gains for years ended March 31, 2006 were: 1 year
19.84%, 3 years 25.98%, 5 years 12.70%, and
10 years 11.57%.
The
S&P 500’s average annual gains for years ended March 31 were: 1 year
11.72%, 3 years 17.21%, 5 years 3.97%, and 10 years 8.95%.
All
these figures are total returns, with all dividends reinvested. Pearl
Funds total returns are after deducting all expenses.
Pearl Total Return Fund seeks long-term total return for its
investors. Pearl Aggressive Growth Fund seeks long-term aggressive
growth of capital. Each is a diversified fund of funds that invests in
shares of other registered investment companies.
Both
funds are no-load. An investor does not pay a commission, sales charge,
or redemption fee, except a 2% fee if shares owned 30 days or less are
redeemed.
For information on Pearl Mutual Funds, go to
www.pearlfunds.com or call
toll-free 866-747-9030.
More Information
Pearl Mutual Funds are described in a prospectus which contains more
complete information. Before investing, please read the prospectus and
carefully consider a fund’s objectives, risks, charges, and expenses.
Anyone can request a prospectus by calling toll-free 866-747-9030, or
can read and print it at
www.pearlfunds.com.
Shares of both Pearl Funds are available to residents of 38 states and
the District of Columbia. This announcement is not an offer of or a
solicitation of an offer to buy either fund, nor shall either fund be
offered or sold to any person, in any jurisdiction in which the offer,
solicitation, purchase, or sale would be unlawful under its securities
law.
Pearl Management Company, the Funds’ manager, has contractually agreed
to reimburse each Pearl Fund for all ordinary operating expenses
(including management and administrative fees) exceeding these expense
ratios: 0.98% of the fund's average net assets up to $100 million and
0.78% in excess of $100 million. The manager’s reimbursement of
expenses that exceed the expense limit lowers the expense ratio and
increases the overall return to investors.
The performance data represent past performance and do not
guarantee future results. Investment return and principal value of an
investment in each Pearl Fund will fluctuate, so that an investor’s
shares in the fund, when redeemed, may be worth more or less than their
original cost. Performance changes over time and may be materially
different by the time this announcement is read. For recent performance
information, go to
www.pearlfunds.com or call
toll-free 866-747-9030.
All investments involve risk. Even though the two Pearl Funds each
invest in many mutual funds, that investment strategy cannot eliminate
risk.
Both Pearl Funds do not impose any 12b-1 fee. Some of the mutual funds
in which the funds may invest may impose a 12b-1 fee.
Total return means total growth of the investment, with all dividends
and distributions (including capital gains) reinvested.
The Standard & Poor’s 500 Index is an unmanaged index of 500 stocks
that is market-capitalization weighted and is generally representative
of the performance of larger companies in the U.S. You cannot invest
directly in an index.
From July 1, 1972 through July 1, 2001, Pearl Total Return Fund’s
shares were not registered under the Securities Act of 1933 and only
private sales were made. The fund began offering its shares to the
public pursuant to an effective registration statement on July 2, 2001.
Morningstar classifies both Pearl Funds in the World Stock category.
Pearl Total Return Fund
was rated against these numbers of World Stock funds for these periods:
396 funds for the last 3 years, 301 funds for 5 years, and 129 funds for
10 years. Pearl Total Return Fund received Morningstar ratings
of 5-Stars for the 10-year period, 4-Stars for 5 years, 3-Stars for the
3 years, and 4-Stars overall.
Pearl Aggressive Growth Fund
was rated against 396 World Stock funds over the last 3 years. Pearl
Aggressive Growth Fund received a Morningstar rating of 5-Stars for
the 3 years and 5-Stars overall.
Morningstar proprietary ratings reflect historical risk-adjusted
performance as of March 31, 2006. The ratings are subject to change
every month. For each fund with at least a 3-year history, Morningstar
calculates a Morningstar Rating based on a Morningstar Risk-Adjusted
Return measure that accounts for variation in a fund’s monthly
performance (including the effects of sales charges, loads, and
redemption fees, if any), placing more emphasis on downward variations
and rewarding consistent performance. Morningstar ratings are
calculated from a fund’s 3-, 5- and 10-year average annual returns (if
applicable) in excess of 90-day T-bill returns with appropriate fee
adjustments, and a risk factor that reflects fund performance below
90-day T-bill returns. The top 10% of the funds in an investment class
receive five stars, the next 22.5% receive four stars, the next 35%
receive three stars, the next 22.5% receive two stars, and the bottom
10% receive one star.
# # # # #
NOTE TO NEWS MEDIA:
Graphs and tables showing recent comparative performance of both Pearl
Funds, plus the complete prospectus and other information, are available
at
www.pearlfunds.com.
If you did not receive
this release by e-mail, we will gladly e-mail it to you. Please send your
e-mail address to
rsolt@pearlfunds.com.
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