Best Funds - Tributary Funds

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Funds
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Electronically reprinted from January 1, 2012
Best Mutual Funds – Moderate Allocation
T
he U.S. News Mutual Fund Score offers a broad look at what some of the brightest minds conducting
investment analysis have to say about more than 4,500 mutual funds using ratings from Morningstar,
Lipper, Zacks, TheStreet.com, and Standard & Poor’s.
Moderate-allocation portfolios seek to provide both capital appreciation and income by investing in
three major areas: stocks, bonds, and cash. These portfolios tend to hold larger positions in stocks than
conservative-allocation portfolios. These portfolios typically have 50% to 70% of assets in equities and the remainder
in fixed income and cash. Morningstar®
USNews
Score
Fund
Tributary Balanced Fund (FOBAX)
9.6
Performance (1-yr.)
Performance (1-mo.)
Expenses
8.34%
3.67%
1.27%
Total Assets
$42.85M
9.4
Bruce Fund (BRUFX)
9.22%
2.87%
0.84%
$335.95M
9.3
Buffalo Flexible Income Fund (BUFBX)
9.60%
1.86%
1.05%
$309.43M
9.3
FBR Balanced Fund (AFBAX)
12.55%
1.64%
1.14%
$180.24M
9.3
LKCM Balanced Fund (LKBAX)
5.73%
3.19%
0.81%
$20.1M
9.1
FPA Crescent Portfolio Fund (FPACX)
5.18%
2.28%
1.28%
$7.98B
8.8
American Century Balanced Fund (TWBIX)
8.64%
3.09%
0.90%
$583.68M
8.7
American Century One Choice Moderate Fund (AOMIX)
5.01%
3.10%
0.85%
$868.79M
8.7
Managers AMG Chicago Equity Partners Balanced Fund (MBEAX)
8.26%
2.70%
1.26%
$34.18M
8.5
T. Rowe Price Personal Strategy Balanced Fund (TRPBX)
4.00%
3.64%
0.76%
$1.54B
TRIBUTARY FUNDS
For more information, please visit
www.tributaryfunds.com
or call Investor Services at
(800) 662-4203.
Copyright © 2012, by U.S.News & World Report, L.P. Posted with permission.
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86051
Fund Performance as of 12/31/11
Tributary Balanced Fund
YTD
5.75%
1 Year
5.75%
5 Year
5.19%
10 Year
6.79%
Prospectus Gross Expense Ratio: 1.19%; Prospectus Net: 0.92%; Current*: 0.91%
*Reflects the annualized expense ratio for April 1, 2011 to December 31, 2011.
The data quoted above represents past performance and does not indicate future
returns. The performance data quoted represents past performance and current
returns may be lower or higher. The value of an investment in the Funds and the
return on investment both will fluctuate and redemption proceeds may be higher or
lower than an investor’s original cost. Total return is calculated assuming
reinvestment of all dividends. Total returns would have been lower had the
Adviser, the Distributor, the Administrator, and Custodian not waived or
reimbursed a portion of their fees. For more performance numbers current to the
most recent month-end please call (800) 662-4203 or visit www.tributaryfunds.com.
Before investing, please read the Fund’s prospectus and shareholder reports to learn
about its investment strategy and potential risks. Mutual Fund investing involves risk
including loss of principal. An investor should also consider the Fund’s investment
objective, charges, expenses, and risk carefully before investing. This and other
information about the Fund is contained in the fund’s prospectus, which can be obtained
by calling 1-800-662-4203. Please read the prospectus carefully before investing.
Distributed by Northern Lights Distributors, LLC, member FINRA. Northern Lights and
the Fund’s Adviser, Tributary Capital Management, are not affiliated.
Common stock risk: Companies in which the Fund is invested may not perform as
anticipated. Additionally, the value of a Fund investment may increase or decrease more
than the stock market in general. A downturn in the stock market may lead to lower
market price for a stock even when company fundamentals are strong. A company’s
stock may drop as a result of technological, environmental, or regulatory change or as a
result of company news or a change in expected earnings.
Interest rate risk: Changes in interest rates affect the value of the Fund’s fixed income
securities. When interest rates rise, the value of the Fund’s fixed income securities and
the Fund’s shares will decline.
0381-NLD-3/14/2012