SAOIX – NAA Opportunity Institutional Investment Strategy | Morningstar

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Strategy

The investment seeks long-term capital growth. Under normal market conditions, the fund pursues its objective by investing in long and short positions of domestic equity and equity-related securities. The fund will ordinarily hold simultaneous long and short positions in equity securities or securities markets that provide exposure up to a level equal to 150% of the fund’s net assets for both the long and short positions.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
SAOIX	NAA Opportunity Fund Institutional	Institutional	Open			Nov 7, 2008	$38.99M	1.410%	Average	$2M	$885,768.32
SAOAX	NAA Opportunity Fund A	Front Load	Open			Jul 7, 2003	$3.50M	1.710%	Above Average	$2,500	−$308,565.75
SAOCX	NAA Opportunity Fund C	Level Load	Open			Jul 7, 2003	$33,740.00	2.460%	Above Average	$2,500	−$15,110.50

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