Daily NAV as of July 17, 2018
NAV Daily Change
MBS Total Return Fund - Institutional Class
10.67 0.00
MBS Total Return Fund - Class A
10.66 0.00
MBS Total Return Fund - Investor Class
10.66 0.00
Short Duration Fund - Institutional Class
9.90 0.00
Short Duration Fund - Investor Class
9.89 0.00

NEW AT SEMPER

Definitions:

Cashflows: Mortgages typically have required monthly interest and principal payments which are collected by servicers of mortgage-backed securities trusts, which in turn distribute these payments to MBS investors.
Bps (Basis point): Denotes the change in interest rates or the yield of a fixed-income security (1/100th of 1%).

Semper Capital Management is an independent investment management firm specializing in mortgage securities and other asset-backed investments.

The Overall Morningstar Rated™ Semper MBS Total Return Fund (SEMMX) invests primarily in mortgage-backed securities (MBS) including residential MBS (RMBS) and commercial MBS (CMBS). The Fund seeks to provide a high level of risk-adjusted current income and capital appreciation.

The Overall Morningstar Rated™ Semper Short Duration Fund (SEMIX) invests primarily in short duration securities in sectors including RMBS and CMBS. The Fund seeks to provide a high level of current income that is consistent with preservation of capital.

All classes offer daily purchases and redemptions. The Institutional Shares have no Rule 12b-1 distribution and service fee and have a higher minimum initial investment than Investor and Class A Shares. Investor and Class A Shares have a 0.25% Rule 12b-1 distribution and service fee.

Quasar Distributors, LLC (Quasar) is not affiliated with Foreside Fund Services, LLC (Foreside). Information pertaining to the Semper U.S. Treasury Money Market Fund (Distributed by Foreside) can be found under Funds/Money Market Fund dropdown. All other information contained in this site pertains to the Semper MBS Total Return Fund and the Semper Short Duration fund (Distributed by Quasar).
Overall Morningstar Ratings™
As of 6/30/18

Semper MBS Total Return
(SEMMX)

As of 6/30/18 the Semper MBS Total Return Fund received a 5-Star Overall Morningstar Rating™ and 5-Star 3-Year Morningstar Rating™ among 271 Non-Traditional Bond Funds.

Semper Short Duration Fund
(SEMIX)

As of 6/30/18 the Semper Short Duration Fund received a 5-Star Overall Morningstar Rating™ among 139 Ultrashort Bond Funds and a 5-Star Morningstar Rating™ for both the 3 and 5 year periods among 139 and 109 Ultrashort Bond Funds, respectively.