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Contact: Rob Solt
563-288-2773 or 866-747-9030
For
Immediate Release: Tuesday, October 7, 2003
Pearl Mutual Funds Gain
34.19% and 21.47% in Nine Months
Muscatine, IA – Both of the
Iowa-based Pearl Mutual Funds outperformed the Standard & Poor’s 500 Index
during the first nine months of 2003.
Pearl Aggressive Growth Fund had a
34.19% total return during the nine months through September 30.
Pearl Total Return Fund had a 21.47% total return for the same
period. The total return of the S&P 500 Index, including dividends
reinvested, was 14.72% for the same period.
Pearl Aggressive Growth Fund gained
11.66% during its first 27 months through September 30; this fund
began operations July 2, 2001. The S&P 500 Index had a (15.61%) loss
(negative total return) during that same period.
Pearl Aggressive Growth Fund’s average
annual total returns for years ended September 30, 2003 were: 1 year
41.44%, and 2 years 12.64%.
Pearl Total Return Fund gained 13.56%
during the three years and nine months through September 30, including the
three bear market years 2000-2002. The S&P 500 Index lost (28.42%) during
that period.
Pearl Total Return Fund’s average annual
total returns for years ended Sept. 30, 2003 were: 1 year 29.35%, 5 years
9.32%, and 10 years 9.09%.
Pearl Mutual Funds management includes David
M. Stanley, President; Robert H. Solt, Executive Vice President; Kevin J.
Burns, Vice President of Investment Management; and Christopher A.
Hoffman, Vice President.
For information on Pearl Mutual Funds, call
toll-free 866-747-9030 or go to the funds’ Website:
www.pearlfunds.com.
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 fund of funds that
invests in shares of other registered investment companies.
Both funds are no-load. This means an
investor does not pay a commission, sales charge, or redemption fee.
More Information
Pearl
Mutual Funds are described in a prospectus which contains more complete
information, including fees and expenses. Any investor should read the
prospectus carefully before investing or sending money. Anyone can
request a prospectus by calling toll-free 866-747-9030, or can read and
download it at
www.pearlfunds.com.
Shares of
both Pearl Funds are available to persons residing in 15 states, including
Iowa and Illinois. 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 a 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 Pearl Total Return Fund and Pearl
Aggressive Growth Fund each invest in many mutual funds, that investment
strategy cannot eliminate risk.
Both Pearl
Funds do not impose any 12b-1 fee. However, some of the mutual funds in
which the funds may invest may impose a 12b-1 fee.
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.
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.
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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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