Provides context for PIA’s development of the MACS completion share strategies and the sources of value-added for each fund.
Alpha is an annualized return measure of how much better or worse a fund’s performance is relative to an index of funds in the same category, after allowing for differences in risk.
Mutual fund investing involves risk. Principal loss is possible.
Statutory Prospectuses – High Yield Fund, Short Term Securities Fund, BBB Bond Fund, MBS Bond Fund, and High Yield MACS Fund.
The PIA Mutual Funds are distributed by Quasar Distributors, LLC