Our goal is to help investors increase income every year and have the potential for capital appreciation.

Who Should Invest

An investment in The Rising Dividend Growth Fund may be attractive for investors who seek current and rising income, potential capital appreciation, and liquidity.

Strategy

We invest in companies that:

• Consistently pay dividends at an increasing rate that averages at least 10% per year
• Pay those dividends for a minimum of 10 consecutive years
• Are committed to distributing profits to shareholders
• Produce essential products and services that we need to live, such as water, food, energy and healthcare
• Are industry leaders, have strong brands and growing global exposure
• Demonstrate an ability to manage their business with consistent earnings growth in various economic cycles

Our reasoning is straightforward.  In our view, consistent earnings growth drives consistent dividend growth.  Earnings provide the ability to pay and grow dividends.  Over the long run, consistent earnings have had a positive influence on the price performance of a stock.  This is why we begin with companies that have well-established records of consistent earnings and dividend growth.

The 10/10 Test

Our 10/10 Test is simple: we invest in companies that consistently pay dividends at an increasing rate that averages at least 10% per year for a minimum of 10 consecutive years. A company must pass this 10/10 Test to be included in our dividend growth portfolios.  To remain in our portfolios, companies must continue to pass this test; whenever the 10 year trailing dividend growth rate declines below 10%, we eliminate them from the Fund.

Past performance does not guarantee future results, and stock prices are affected by a number of factors, both positive and negative.

There is no guarantee that this investment strategy will succeed. The strategy is not an indicator of future performance. Investment results may vary. The investment strategy presented is not appropriate for every investor.

Research

In excess of 100 companies pass the 10/10 Test.  In our view, most qualify as sound businesses, but we use fundamental analysis and market perspective to determine what we believe should make the best investments.  We have followed many of these companies for years and our research efforts are comprehensive.  We seek to understand what fundamental drivers generate each Company’s earnings, and the challenges and opportunities within industries.  We prefer a record of steady results, strong cultures, and shareholder-friendly managements.  When given the opportunity, we favor industry leaders, strong brands, and significant and growing global exposures.  We try to understand the big picture, and anticipate what that will mean to our companies.  We also look closely at the numbers, and the numbers behind the numbers.  In summary, our research is designed to determine whether we think the company can continue to grow their dividend in excess of 10% per year.

Stock Selection

Stocks are selected for the Fund with strong earnings growth and current income potential; special emphasis will be placed on those companies that the Fund believes demonstrate:

• Financial stability
• Strong market position with solid pricing power
• Effective management leadership
• Prominent brand recognition
• Strong patent position

Types of Securities

Equity securities in which the Fund invests include common and preferred stocks as well as master limited partnerships (“MLPs”).

An investment in a Master Limited Partnership (MLP) unit involves risks that differ from a similar investment in equity securities including ownership controls associated with the limited partnership structure, high debt to equity ratios, and certain tax risks.