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NEW CENTURY ALTERNATIVE STRATEGIES PORTFOLIO |
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4-Star Overall Morningstar RatingTM (as of 10/31/08) |
Morningstar Category: Moderate Allocation |
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"Hedging
Your Portfolio: An Alternative Investment Strategy" and Investment
Category Ranges. |
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FUND DESCRIPTION |
| New Century Alternative Strategies is dedicated to a philosophy... diversification can reduce risk without sacrificing performance. The Portfolio's objective is to provide long term capital appreciation and, as a secondary objective, to earn income, while managing risk. New Century maintains rigorous investment qualifications for the mutual funds in which it invests: strong performance, reasonable risk-adjusted returns and consistent management styles. Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment loss. |
ACTIVE MANAGEMENT / DIVERSIFICATION |
| The Fund allocates its investments among ten separate investment categories including convertible bonds arbitrage, merger arbitrage, long/short equity, natural resources and asset allocation. Investments in arbitrage strategies, distressed securities, options, foreign securities, and long/short selling will expose the Fund to additional risks and volatility. Short selling involves the risk of potentially unlimited increase in the market value of the security sold short, which could result in potentially unlimited loss for the funds employing this strategy. Investments in foreign securities may involve additional risks, such as currency rate fluctuation, different financial and accounting standards, and political instability that may cause greater volatility and expose the Portfolio to other risks generally not associated with domestic investments. Funds are generally selected which have strong risk adjusted returns and low correlation to the U.S. equity market. The percentage allocated to each category varies within ranges, based on each strategy's relative performance, volatility and correlation to other categories within the portfolio. |
| RISK |
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Short selling involves the risk of
potentially unlimited increase in the market value of the security
sold short, which could result in potentially unlimited loss for the
fund. Investments in foreign securities may involve additional
risks, such as currency rate fluctuation, different financial and
accounting standards, and political instability that may cause
greater volatility and expose the Portfolio to other risks generally
not associated with domestic investments. Funds are generally
selected which have strong risk adjusted returns and low correlation
to the U.S. equity market. The percentage allocated to each category
varies within ranges, based on each strategy’s relative performance,
volatility and correlation to other categories within the portfolio. Certain hedging techniques, arbitrage strategies, distressed securities, options, long/short selling and leverage employed in the funds the Alternative Strategies invests in will expose the fund to additional volatility and risks. |
PORTFOLIO MANAGEMENT |
| Ronald
A. Sugameli. Portfolio
Manager and Vice President of New Century Portfolios. Mr. Sugameli
has been with the Advisor since 1984 and has managed the portfolio
since inception. |
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The performance data quoted represents past performance. The investment return and principle value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original investment. Past performance does not guarantee future results, and current performance may be lower or higher than the performance data quoted. Total return figures are net of fees and include reinvestment of all dividends and capital gains. For the fiscal year ended 10/31/07, the New Century Alternative Strategies Portfolio has an expense ratio of 1.06% with an acquired fund expense ratio of 1.15%. The Acquired Fund Expense Ratio reflects the fees and expenses incurred by the New Century Alternative Strategies Portfolio for the fiscal year ended 10/31/07 as a result of its investment in other registered investment companies. These expenses are not incurred directly by shareholders. Investors should take into consideration the investment objectives, risks, charges and expenses of the New Century Portfolios carefully before investing. The Prospectus contains these details and other information and should be read carefully before investing. Click here to view a current Prospectus. |
| MORNINGSTAR DISCLOSURE |
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Morningstar Ratings reflect risk-adjusted performance and are
derived from a weighted average of the fund’s 3-, 5- and 10-year (if
applicable) Ratings. For the periods ended October 31, 2008, the
fund received 4-Stars Overall among 955 funds, 4-stars for the
3-year period among 955 funds and 4-stars for the 5-year period
among 735 funds in the Morningstar Moderate Allocation Category. The Morningstar Ratings formula measures the amount of variation in a fund’s performance and gives more emphasis to downward variations. Ratings are subject to change every month. The top 10% of the funds in the category receive 5 stars; the next 22.5% 4 stars; the next 35% 3 stars; the next 22.5 2 stars; and the last 10% 1 star. ©2008 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. |
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