Queens Road Small Cap Value  QRSVX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Small Value Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Small
   Value
  
  
As of 2009-05-31
Day Change
$ -0.12
  
NAV (2009-11-10)
$ 16.37
  
YTD Return % (2009-11-10)
28.49%
  
Total Assets ($ mil)
30
View Data Definitions
  Performance    
Growth of $10,000 Fund: Queens Road Small Cap Value
(from 2002-06-13 to 2009-10-31) Category: Small Value
Index: S&P 500 TR
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-10
Inception date: 2002-06-13 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-10
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 27.16 56.21 -0.52 3.12 --- 8.97
+/- Category 7.97 44.99 7.20 2.10 --- ---
+/- S&P 500 TR 3.64 7.41 5.38 2.44 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 27.08 2.86 0.84 4.50 --- 9.43
Month-End (as of 2009-10-31) 24.10 17.40 -0.67 3.68 --- 8.97
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 17.09 -1.43 2.93 --- ---
On Distribution & Sale of Shares --- 11.26 -0.80 2.87 --- ---
Morningstar Rating --- --- --- ---
# of compared funds covered (3 yrs : out of 317 funds), (5 yrs : out of 242 funds), (10 yrs : out of funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
Information 32.93
Software 8.99
Hardware 12.51
Media 5.42
Telecommunications 6.01
Service 29.05
Healthcare 4.71
Consumer Services 8.73
Business Services 2.81
Financial Services 12.80
Manufacturing 38.02
Consumer Goods 18.13
Industrial Materials 11.62
Energy 1.82
Utilities 6.45
Asset Allocation
% of Net Assets
Cash 17.9
Stocks 80.0
Bonds 0.0
Other 2.1
Foreign Stocks 2.3
(as a % of Assets)
Data through 2009-05-31 Data through 2009-05-31
 
Holding Status
Total Number of Stock Holdings 66 Turnover % 36
Total Number of Bond Holdings 0 30 Day SEC Yield % ---
% of Assets in Top 10 Holdings 20.08 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Sector P/E YTD
Return %		 % of Net
Assets
Scholastic Corporation 13.33 96.61 2.40
TTM Technologies, Inc. --- 98.46 2.33
ATC Technology Corporation --- 55.71 2.21
Sadia SA ADR --- --- 2.08
Tellabs, Inc. --- 38.83 2.07
Epicor Software Corporation --- 48.54 2.06
RadioShack Corporation 8.01 60.05 1.88
Darling International 8.32 38.98 1.79
TIBCO Software, Inc. 17.89 70.33 1.65
Ducommun Incorporated 13.57 15.18 1.61
Data through 2009-05-31
YTD Return through 2009-11-20
  Other Information
Fund Inception: 2002-06-13
Portfolio Manager  (Start Date)
Steve Scruggs  (2002-06-13)
Mr. Scruggs has been an employee of BFA and a Trustee of the Funds since January 2000. Scruggs is a Chartered Financial Analyst holder.
Sales Charge %
(taken from prospectus dated 2009-09-28)
Front: None
Deferred: None
Expense Ratio % 1.35
based on net assets
(taken from annual report dated 2009-05-31)
Correspondence Information
100 Queens Rd

Charlotte,  NC  28204
USA
Telephone:
800-595-3088
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.