The Moerus Worldwide Value Fund (“the Fund”) is managed with the objective of long term capital appreciation and is advised by Moerus Capital Management LLC (“the Adviser”). The adviser pursues the Fund’s investment objective by investing primarily in foreign and domestic common stocks that it believes are undervalued, utilizing a fundamental, bottom-up approach to purchase securities that are trading at substantial discounts to the adviser’s estimates of their intrinsic values. The adviser builds the Fund’s portfolio from the bottom up, based on its assessment of value, focusing on businesses it believes have solid balance sheets, high quality business models and shareholder-friendly management teams.


1.65% and 1.40% are the actual fees charged to the investor by Moerus (Fund Operating Expenses). The difference between these fees and those showing in the Prospectus are the Acquired Fund Fees. The Acquired Fund Fees are not a part of the Managers Fund Operating Expenses (these fees are incurred because of the investment of the excess cash in a Money Market Fund).

Copyright Moerus Capital Management, 2021

Investing in Mutual Funds involves risks including the possible loss of principal and there can be no assurance that any investment will achieve its objectives. International investing involves increased risk and volatility due to currency fluctuations, economics and political conditions, and differences in financial reporting standards.

Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. This and other important information about the Funds is contained in the prospectus, which can be obtained by calling 1-844-MOERUS1 or visiting The prospectus should be read carefully before investing.