Towpath Technology Fund Institutional Shares (TOWTX)

Overview

The adviser is designed to serve investors seeking exposure to the technology sector, blending a strategic mix of U.S. equity securities while also opening avenues to foreign markets either directly or through ADRs (American Depositary Receipts). This balanced approach allows for a diversified investment portfolio that can capably navigate through various market conditions. By not limiting itself to a specific company size, the fund is agile, able to invest across the entire market capitalization spectrum, providing a broad selection of investment opportunities within the tech sector.

Products and Services

The fund's investment strategies are tailored to meet its objective, focusing primarily on equity securities of technology-related companies. Below is an overview of its primary investment approaches:

• Investments in U.S. Equity Securities:

  The fund primarily invests in U.S.-based companies, leveraging the growth and stability of the domestic technology sector. This strategy aims to capitalize on the innovative and leading-edge capabilities of U.S. tech firms.

• Investments in Foreign Companies:

  To enhance diversification and capture global growth opportunities, the fund also invests in foreign technology companies, either directly or via ADRs. This component enables investors to benefit from the performance of tech companies outside the U.S., acknowledging the global nature of the technology industry.

• Flexible Capitalization Investment:

  With no restrictions on the size of the companies it invests in, the fund can allocate resources across large, mid, and small-cap stocks. This flexible approach allows the fund to pursue the most promising technology investments, regardless of the company's market capitalization.

• Investment in Common Stocks of Technology-Related Companies:

  At least 80% of the fund's assets are committed to common stocks of technology-related companies. This ensures a focused investment strategy targeting the dynamic and fast-growing tech sector, from established giants to emerging startups.

• Investments Through Other Investment Companies and ETFs:

  To achieve its investment objective, the fund may also invest in other investment entities, including ETFs that primarily focus on equity securities of technology firms. This method allows the fund to diversify its holdings and gain exposure to a wide array of technology investments through professionally managed portfolios.

The fund is non-diversified, meaning it can invest a larger portion of its assets in fewer securities, potentially increasing its risk and return profile. This characteristic permits a more concentrated investment approach, focusing on the most compelling technology opportunities.