The Chesapeake Core Growth Fund
The Chesapeake Core Growth Fund seeks capital appreciation through investments in large capitalization growth equities. The cornerstone of the Fund’s intensive in-house fundamental analysis is constant contact with the management, customers, competitors and suppliers of both current and potential investments.
Sector Weights
As of 06/30/10
Portfolio Characteristics
As of 06/30/10
| Number of Positions | 48 |
| Median Market Cap (in bil) | $24.5 |
| P/E Ratio - 2010 Earnings Estimates | 14x |
Sources: Baseline Financial Services, Inc. June 30, 2010
Performance Summary
Annualized Performance
As of 06/30/10
| 1 Year | 5 Year | 10 Year | |
|---|---|---|---|
| The Chesapeake Core Growth Fund (CHCGX) | 7.08% | -4.57% | -3.01% |
Total Gross Expense Ratio as of 03/01/10 was 1.61%.
Net Expense Ratio as of 03/01/10 was 1.40%.
The Net Expense Ratio reflects that the Fund has entered into brokerage/service arrangements with several brokers through commission recapture programs. These portions are then used to offset overall Fund expenses. There can be no assurance that these arrangements will continue in the future. As of March 1, 2010, the investment adviser has contractually agreed to reduce its fees until February 28, 2011 so that the total annual operating expenses of the Fund, including but not limited to investment advisory fees of the Adviser (but excluding (i) interest, (ii) taxes, (iii) brokerage commissions, (iv) other expenditures which are capitalized in accordance with generally accepted accounting principles, (v) other extraordinary expenses not incurred in the ordinary course of the Fund’s business, and (vi) dividend expense on short sales), incurred by the Fund during the term of the Expense Limitation Agreement (“Fund Operating Expenses”) are limited to 1.40% of the Fund’s average daily net assets. For more information, please see the Fund’s prospectus and summary prospectus. During part of the period cited above the adviser assumed certain expenses and/or waived a portion of its fee. Total return would have been lower absent such assumptions and/or fee waivers. These fee waivers and/or reimbursements are believed not to have had a significant effect on the performance of the Fund. The Chesapeake Core Growth Fund’s inception date was September 29, 1997.
Performance shown is for the period ended June 30, 2010. The performance data quoted above represents past performance, which is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data quoted. View performance data current to the Fund’s most recent month end.
The Fund is subject to investment risks, including, without limitation, equity securities risk, market risk, portfolio turnover risk, short-term investment risk, investment adviser risk, overweighting in certain market sectors risk and market segment risk. As an investor in the Fund, you are subject to the risk that you may lose your money as a result of the impact of the Fund’s investment risk on the Fund’s net asset value per share. When you sell your investment in the Fund, the value of your investment may be more or less than your initial investment.
The Chesapeake Funds are distributed by Ultimus Fund Distributors. An investor should consider the investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contains this and other information about the Fund. View a free prospectus and summary prospectus, which contains detailed information, including fees and expenses, and the risks associated with investing in these funds. The prospectus and summary prospectus can also be obtained by calling the fund directly at (800) 430-3863 or the Fund’s Adviser at (610) 558-2800. The prospectus and summary prospectus should be read carefully before investing. Mutual Fund investing involves risk, including the possible loss of principal. Past performance is no guarantee of future results.
The Fund is available for sale in the following states:
AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY