NewswireToday - /newswire/ -
Old Chatham, NY, United States, 2009/02/02 - The Navigator Fund (NAVFX), which recently earned five stars from Morningstar and the distinction of Lipper Leader for Preservation of Assets from Lipper Fund Services, announced that it will be changing its name to the ETF Market Opportunity Fund.
The new symbol for the ETF Market Opportunity Fund will be ETFOX.
ETFOX, launched in early 2004, has a beta of 0.75 and has bested the S&P 500 by more than 3% a year, after management fees, since inception. At least 80% of the fund is invested in ETFs, and while the fund can employ both small cap equity and cash equivalents, it has been classified as “Large Growth” by Morningstar.
Fund manager Paul Frank utilizes both a mathematical model, based on the Sharpe ratio and Modern Portfolio Theory, and a “fundamental filter” to minimize both security specific risk and systematic risk. Frank has managed the day to day operations and portfolio composition of the fund since inception on April 30, 2004.
The Objective of the Fund
• The ETF Market Opportunity Fund seeks capital appreciation.
The Principal Investment Strategies and Policies of the Fund
• Under normal market conditions the Fund invests primarily in common stocks and exchange traded funds.
• The Fund invests in common stocks and exchange traded funds without regard to market capitalization.
• The Fund’s investment strategy includes both growth and value style investing.
• The Fund is a “non-diversified” portfolio, which means it can invest in fewer securities at any one time than diversified portfolios. Also, the Fund may participate in a limited number of industry sectors.
• The Fund may hold all or a portion of its assets in cash or cash-equivalents like money market funds, certificates of deposit, short-term debt obligations, and repurchase agreements, either due to pending investments or when investment opportunities are limited. Under these circumstances, the Fund may not participate in stock market advances or declines to the same extent it would had it remained more fully invested in common stocks.
• The Fund may invests in exchange traded funds that hold foreign securities and American Depositary Receipts ("ADRs").
• The Fund may engage in short-term trading.
• The Fund may invest in other securities as described in the Statement of Additional Information, which is available upon request.