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Pearl Total
Return Fund
Pearl
Total Return Fund is a fund of funds that invests in shares of
registered investment companies
— open end mutual funds.
Objective
The
Fund's investment
objective is to seek long-term total return.
Strategy
The Fund seeks to achieve this
objective by investing most of its net assets (80% or more) in
equity mutual funds whose objective is growth or capital appreciation.
Because Pearl Total Return Fund
seeks to limit risks and preserve capital, it often takes a partial
defensive position, investing up to 20% of net assets in money market,
bond, and other fixed-income mutual funds. The Fund may
temporarily take a larger defensive position (up to 100% of net assets)
when
Management believes there are high risks affecting stock
markets.
Under normal market conditions, the Fund holds equity mutual funds with
value, growth, or blend investment styles and funds with small-cap,
mid-cap, or large-cap investment styles. There is no limit on these
investment styles. The allocation among mutual funds using these various
investment styles may vary greatly depending upon
Management's assessment of the stock markets. The Fund may
hold mutual funds that invest in foreign securities and emerging markets
securities.
The
Fund has operated continuously since July 1972. Until July 2, 2001, the Fund was named Mutual Selection
Fund, Inc.
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Fund Information |
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Ticker Symbol: |
PFTRX |
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Minimum
Investment: |
Regular Account |
$ 5,000 |
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IRA Account |
$ 2,000 |
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Automatic Investment Plan |
$1,000 |
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Minimum
Subsequent Investment: |
$ 100 |
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Sales Charge: |
None |
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Redemption
Fee (except a 2% redemption fee if you sell shares owned for 30
days or less) |
None |
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Expense
Ratio: (actual, year ended 12-31-07) |
1.86%* |
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Fund
Data as of 4-30-08 |
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Number of
Mutual Funds in Portfolio: |
14 |
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Net Assets of
this Fund: |
$ 111.5 million |
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Pearl
Total Return Fund
is no-load. No sales charge or commission is deducted. There is no
redemption fee. (However,
to help protect long-term shareholders and discourage frequent trading
of Fund shares, a 2% redemption fee is charged if a shareholder sells
shares owned for 30 days or less.)
The Fund does not
impose any 12b-1 fee. Some of the
mutual funds in which the Fund may invest may impose a 12b-1 fee.
The Fund’s
investments in most mutual funds are generally large enough to take
advantage of sales load waivers on large purchases. Thus, the Fund is
able to select no-load investments from a very wide range of
funds ― even though many of those funds would require most investors to
pay a sales load. The Fund also holds shares of some mutual funds that
are now closed to most new investors.
*
Pearl Management Company, the Funds’ Manager, has
contractually agreed to reimburse each 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; 0.78% in excess of $100 million. When the Manager has
reimbursed a Fund for expenses in excess of this limit, the Manager may
recover the reimbursed amounts, for a period that does not exceed five
years, to the extent this can be done without exceeding the expense
limit. The agreement to limit the Funds' ordinary operating
expenses is limited to the Funds' direct operating expenses and,
therefore, does not apply to Acquired Fund (Portfolio Funds) Fees and
Expenses, which are indirect expenses incurred by the Funds through
their investments in the underlying portfolio funds. This expense limit does not have an expiration date, and will
continue unless a change is approved by the Funds’ Board of Trustees.
The Manager’s reimbursement of expenses that exceed the expense limit
lowers the expense ratio and increases the overall return to investors.
Please
read the Prospectus for complete
information.
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