Brazos Mutual Funds - Growth Overview

Brazos Growth Fund: Fund Overview

Investment Objective

The Brazos Growth Fund's investment objective is to provide maximum capital growth, consistent with reasonable risk to principal. The Fund invests in equity securities including common stock and securities convertible into common stock.


Quick Look

As of 11/20/2008
Ticker Symbol	BJGRX
CUSIP	10620M408
Fund Number	1420
Inception Date	12/31/98
Daily NAV	$ 9.11
Daily Change	$ -0.47
Daily pricing information provided by Vision® Past performances does not guarantee future results.

Fund Description

The Brazos Growth strategy consists of the best ideas uncovered across all market capitalizations from diligent research efforts without market cap restrictions. Securities selection is based on a company’s potential for strong growth in revenue, earnings and cash flow, strong management, and leading products or services. The Growth Fund generally seeks securities of companies with above average growth rates, above average return on equity, and low debt levels.

We generally seek investments in securities of companies with high growth rates, above average return on equity, and low debt levels. We seek to identify earnings growth in growth companies before it is reflected in those companies' stock price. We look for catalysts for such growth by using multiple screens to identify prospective portfolio companies. To manage fluctuations in the value of the Portfolio's investments, we invest across numerous industry sectors with no industry sector representing more than 25% of the value of the Portfolio.

We incorporate a bottom-up, fundamental research methodology to identify companies for potential purchase. We conduct due diligence with each company’s senior management, suppliers, competitors and customers in an attempt to understand the dynamics within each company's business. We then select companies with strong growth in revenue, earnings and cash flow, predictable operating models, seasoned management, and unique products or services. We confirm our analysis using a variety of screens and confirmation checks.

Investor Profile The Brazos Growth Fund may be appropriate for investors who:
	Are seeking long-term capital growth;
	Do not need current income;
	Are willing to hold an investment over a long period of time, and;
	Are able to tolerate fluctuations in the principal value of their investment.

Minimums, Fees & Expenses (As of 10/31/2008)
Class	Min Investment	Fund Expenses
		*Management Fee*	*Distribution Fee**	Total Operating Expense Ratio	Expense Ratio Cap
Y	$1,000,000	0.75 %	-	1.20 %	1.20 %
N	$5,000	0.75 %	0.35 %	1.25 %	1.55 %
*Class N includes 12b-1 fees (no 12b-1 fee on Class Y)
Stocks of micro cap and small cap companies are more volatile than stocks of larger cap companies. Micro cap and small cap companies are subject to additional risk including, but not limited to, limited liquidity and greater volatility compared to investments in larger more-established equity securities. As of October 31, 2008, the Brazos Growth expense ratio was 1.20%; of that 0.75% is allocated to management fees and the remainder is applied toward other annual portfolio operating expenses.
Please call Shareholder Services at 1-800-426-9157 for more information on our closed share class B. Please call Client Relations at 1-866-521-5642 for more information on Institutional share classes.

Click here to download the Brazos Growth Fund fact sheet in PDF format.

Click here for the Brazos Growth Fund dividend distributions history for 2007.

Click here to view additional disclosures.