PERFORMANCE SUMMARY
Performance data quoted below represents past performance; past performance does not guarantee future results. Short term performance, in particular, is not a good indication of a fund's future performance. An Investment should not be made based solely on returns. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted.
Table 1, Total Return before sales charges, does not reflect the deduction of sales charges which, when reflected, reduces performance quoted. For Total Returns after sales charges, page down to Table 2.
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CUMULATIVE (%) |
ANNUALIZED (%) |
ANNUALIZED (%) |
| Class |
Class Inception |
Expense Ratio |
Symbol |
Daily YTD |
1 MO |
YTD |
3 MOS |
1 YR |
3 YRS |
5YRS |
10 YRS |
SINCE INCEP |
1 YR |
3 YRS |
5YRS |
10 YRS |
SINCE INCEP |
| |
Quaker Akros Absolute Return Fund
|
| A* |
09/30/2005 |
1.99 |
AARFX |
-3.37 |
-2.12 |
-2.00 |
-2.00 |
-6.84 |
-3.83 |
-1.15 |
n/a |
0.09 |
-6.03 |
-3.42 |
-0.22 |
n/a |
0.37 |
|
| C |
10/04/2010 |
2.74 |
QASDX |
-3.56 |
-2.29 |
-2.16 |
-2.16 |
-7.52 |
n/a |
n/a |
n/a |
-5.41 |
-6.69 |
n/a |
n/a |
n/a |
-4.70 |
|
| I |
10/04/2010 |
1.74 |
QASIX |
-3.11 |
-2.23 |
-1.86 |
-1.99 |
-6.69 |
n/a |
n/a |
n/a |
-4.42 |
-5.77 |
n/a |
n/a |
n/a |
-3.70 |
|
| S&P 500 Total Return Index |
17.81 |
1.93 |
12.74 |
7.18 |
16.89 |
12.80 |
5.21 |
n/a |
5.74 |
13.96 |
12.67 |
5.81 |
n/a |
5.54 |
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| Net expense ratio for Fund shown. Gross expense ratio: A: 2.67%; C: 3.42%; I: 2.42%. |
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Quaker Event Arbitrage Fund
|
| A* |
11/21/2003 |
1.99 |
QEAAX |
5.86 |
1.04 |
4.37 |
2.43 |
4.96 |
1.24 |
3.38 |
n/a |
6.11 |
3.63 |
1.46 |
3.54 |
n/a |
6.05 |
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| C |
06/07/2010 |
2.74 |
QEACX |
5.61 |
1.06 |
4.19 |
2.30 |
4.22 |
n/a |
n/a |
n/a |
1.65 |
2.79 |
n/a |
n/a |
n/a |
1.32 |
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| I |
06/07/2010 |
1.74 |
QEAIX |
6.01 |
1.11 |
4.53 |
2.50 |
5.31 |
n/a |
n/a |
n/a |
2.61 |
3.89 |
n/a |
n/a |
n/a |
2.29 |
|
| S&P 500 Total Return Index |
17.81 |
1.93 |
12.74 |
7.18 |
16.89 |
12.80 |
5.21 |
n/a |
6.87 |
13.96 |
12.67 |
5.81 |
n/a |
6.71 |
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| Net expense ratio for Fund shown. Gross Expense Ratio: A: 2.37%; C: 3.12%; I: 2.12%. |
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Quaker Global Tactical Allocation Fund
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| A |
05/01/2008 |
2.68 |
QTRAX |
16.55 |
1.71 |
12.38 |
5.56 |
12.08 |
6.98 |
- |
n/a |
-3.54 |
9.03 |
6.85 |
- |
n/a |
-3.93 |
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| C |
05/01/2008 |
3.43 |
QTRCX |
16.32 |
1.77 |
12.27 |
5.50 |
11.34 |
6.20 |
- |
n/a |
-4.25 |
8.21 |
6.06 |
- |
n/a |
-4.66 |
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| I |
07/23/2008 |
2.43 |
QTRIX |
16.75 |
1.70 |
12.62 |
5.76 |
12.49 |
7.26 |
n/a |
n/a |
-0.96 |
9.44 |
7.12 |
n/a |
n/a |
-1.33 |
|
| MSCI World Index Net (USD) |
14.59 |
3.15 |
11.13 |
5.74 |
16.70 |
9.59 |
1.81 |
n/a |
1.72 |
11.85 |
8.46 |
2.23 |
n/a |
1.11 |
Quaker Mid-Cap Value Fund
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| A |
12/31/1997 |
2.21 |
QMCVX |
18.83 |
-0.27 |
13.01 |
3.95 |
13.36 |
10.73 |
3.83 |
10.16 |
6.86 |
11.83 |
12.44 |
5.50 |
11.01 |
6.92 |
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| C |
07/31/2000 |
2.96 |
QMCCX |
18.50 |
-0.30 |
12.74 |
3.81 |
12.51 |
9.92 |
3.06 |
9.35 |
7.22 |
10.97 |
11.59 |
4.71 |
10.19 |
7.29 |
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| I |
11/21/2000 |
1.96 |
QMVIX |
18.92 |
-0.20 |
13.12 |
4.06 |
13.64 |
11.03 |
4.09 |
10.44 |
8.52 |
12.11 |
12.71 |
5.76 |
11.28 |
8.60 |
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| Russell Midcap Value Total Return |
20.90 |
1.12 |
15.49 |
7.51 |
23.66 |
13.70 |
7.49 |
11.88 |
8.85 |
21.49 |
14.96 |
8.53 |
12.57 |
8.82 |
Quaker Small-Cap Growth Tactical Allocation Fund
|
| A |
09/30/2008 |
2.28 |
QGASX |
9.52 |
1.96 |
4.93 |
5.16 |
3.65 |
-2.41 |
n/a |
n/a |
3.30 |
1.21 |
-2.13 |
n/a |
n/a |
2.92 |
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| C |
09/30/2008 |
3.03 |
QGCSX |
9.28 |
1.81 |
4.64 |
4.88 |
2.85 |
-3.17 |
n/a |
n/a |
2.51 |
0.57 |
-2.89 |
n/a |
n/a |
2.15 |
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| I |
09/30/2008 |
2.03 |
QGISX |
9.73 |
1.93 |
4.98 |
5.09 |
3.83 |
-2.23 |
n/a |
n/a |
3.55 |
1.53 |
-1.95 |
n/a |
n/a |
3.18 |
|
| Russell 2000 Growth Total Return |
18.99 |
-0.66 |
12.47 |
5.52 |
15.67 |
12.94 |
n/a |
n/a |
10.44 |
14.52 |
14.75 |
n/a |
n/a |
10.80 |
Quaker Small-Cap Value Fund
|
| A |
11/25/1996 |
1.96 |
QUSVX |
19.01 |
-0.16 |
13.13 |
6.67 |
15.25 |
13.17 |
6.31 |
10.26 |
9.87 |
13.78 |
14.53 |
7.32 |
11.27 |
9.94 |
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| C |
07/28/2000 |
2.71 |
QSVCX |
18.68 |
-0.19 |
12.88 |
6.47 |
14.40 |
12.33 |
5.52 |
9.45 |
8.47 |
12.93 |
13.65 |
6.51 |
10.45 |
8.54 |
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| I |
09/12/2000 |
1.71 |
QSVIX |
19.15 |
-0.10 |
13.26 |
6.73 |
15.55 |
13.45 |
6.59 |
10.53 |
8.67 |
14.08 |
14.79 |
7.59 |
11.53 |
8.74 |
|
| Russell 2000 Total Return Index |
18.04 |
-0.37 |
11.98 |
5.38 |
17.69 |
11.25 |
7.27 |
10.47 |
7.61 |
16.30 |
13.45 |
8.24 |
11.52 |
7.67 |
Quaker Strategic Growth Fund
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| A |
11/25/1996 |
2.24 |
QUAGX |
20.58 |
2.50 |
15.66 |
8.93 |
13.81 |
7.92 |
-3.62 |
7.42 |
11.24 |
10.00 |
7.39 |
-2.54 |
7.68 |
11.13 |
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| C |
07/11/2000 |
2.99 |
QAGCX |
20.20 |
2.44 |
15.37 |
8.73 |
12.94 |
7.11 |
-4.33 |
6.62 |
2.66 |
9.17 |
6.58 |
-3.27 |
6.88 |
2.49 |
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| I |
07/20/2000 |
1.99 |
QAGIX |
20.65 |
2.52 |
15.78 |
9.01 |
14.12 |
8.15 |
-3.40 |
7.68 |
3.57 |
10.31 |
7.62 |
-2.31 |
7.95 |
3.39 |
|
| S&P 500 Total Return Index |
17.81 |
1.93 |
12.74 |
7.18 |
16.89 |
12.80 |
5.21 |
7.88 |
6.57 |
13.96 |
12.67 |
5.81 |
8.53 |
6.48 |
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| Net expense ratio for Fund shown. Gross expense ratio: A: 2.30%; C: 3.05%; I: 2.05%. |
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CUMULATIVE (%) |
ANNUALIZED (%) |
ANNUALIZED (%) |
| Class |
Class Inception |
Expense Ratio |
Symbol |
Daily YTD |
1 MO |
YTD |
3 MOS |
1 YR |
3 YRS |
5YRS |
10 YRS |
SINCE INCEP |
1 YR |
3 YRS |
5YRS |
10 YRS |
SINCE INCEP |
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Quaker Akros Absolute Return Fund
|
| A* |
09/30/2005 |
1.99 |
AARFX |
-8.73 |
-7.54 |
-7.43 |
-7.43 |
-12.01 |
-5.64 |
-2.26 |
n/a |
-0.66 |
-11.18 |
-5.22 |
-1.34 |
n/a |
-0.38 |
|
| C |
10/04/2010 |
2.74 |
QASDX |
-3.56 |
-2.29 |
-2.16 |
-2.16 |
-7.52 |
n/a |
n/a |
n/a |
-5.41 |
-6.69 |
n/a |
n/a |
n/a |
-4.70 |
|
| I |
10/04/2010 |
1.74 |
QASIX |
-3.11 |
-2.23 |
-1.86 |
-1.99 |
-6.69 |
n/a |
n/a |
n/a |
-4.42 |
-5.77 |
n/a |
n/a |
n/a |
-3.70 |
|
| S&P 500 Total Return Index |
17.81 |
1.93 |
12.74 |
7.18 |
16.89 |
12.80 |
5.21 |
n/a |
5.74 |
13.96 |
12.67 |
5.81 |
n/a |
5.54 |
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| Net expense ratio for Fund shown. Gross expense ratio: A: 2.67%; C: 3.42%; I: 2.42%. |
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Quaker Event Arbitrage Fund
|
| A* |
11/21/2003 |
1.99 |
QEAAX |
0.00 |
-4.53 |
-1.40 |
-3.21 |
-0.81 |
-0.64 |
2.22 |
n/a |
5.48 |
-2.05 |
-0.44 |
2.37 |
n/a |
5.41 |
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| C |
06/07/2010 |
2.74 |
QEACX |
5.61 |
1.06 |
4.19 |
2.30 |
4.22 |
n/a |
n/a |
n/a |
1.65 |
2.79 |
n/a |
n/a |
n/a |
1.32 |
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| I |
06/07/2010 |
1.74 |
QEAIX |
6.01 |
1.11 |
4.53 |
2.50 |
5.31 |
n/a |
n/a |
n/a |
2.61 |
3.89 |
n/a |
n/a |
n/a |
2.29 |
|
| S&P 500 Total Return Index |
17.81 |
1.93 |
12.74 |
7.18 |
16.89 |
12.80 |
5.21 |
n/a |
6.87 |
13.96 |
12.67 |
5.81 |
n/a |
6.71 |
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| Net expense ratio for Fund shown. Gross Expense Ratio: A: 2.37%; C: 3.12%; I: 2.12%. |
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Quaker Global Tactical Allocation Fund
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| A |
05/01/2008 |
2.68 |
QTRAX |
10.18 |
-3.91 |
6.23 |
-0.24 |
5.96 |
4.97 |
- |
n/a |
-4.63 |
3.01 |
4.86 |
- |
n/a |
-5.03 |
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| C |
05/01/2008 |
3.43 |
QTRCX |
16.32 |
1.77 |
12.27 |
5.50 |
11.34 |
6.20 |
- |
n/a |
-4.25 |
8.21 |
6.06 |
- |
n/a |
-4.66 |
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| I |
07/23/2008 |
2.43 |
QTRIX |
16.75 |
1.70 |
12.62 |
5.76 |
12.49 |
7.26 |
n/a |
n/a |
-0.96 |
9.44 |
7.12 |
n/a |
n/a |
-1.33 |
|
| MSCI World Index Net (USD) |
14.59 |
3.15 |
11.13 |
5.74 |
16.70 |
9.59 |
1.81 |
n/a |
1.72 |
11.85 |
8.46 |
2.23 |
n/a |
1.11 |
Quaker Mid-Cap Value Fund
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| A |
12/31/1997 |
2.21 |
QMCVX |
12.30 |
-5.75 |
6.81 |
-1.79 |
7.11 |
8.67 |
2.66 |
9.54 |
6.47 |
5.70 |
10.33 |
4.32 |
10.38 |
6.53 |
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| C |
07/31/2000 |
2.96 |
QMCCX |
18.50 |
-0.30 |
12.74 |
3.81 |
12.51 |
9.92 |
3.06 |
9.35 |
7.22 |
10.97 |
11.59 |
4.71 |
10.19 |
7.29 |
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| I |
11/21/2000 |
1.96 |
QMVIX |
18.92 |
-0.20 |
13.12 |
4.06 |
13.64 |
11.03 |
4.09 |
10.44 |
8.52 |
12.11 |
12.71 |
5.76 |
11.28 |
8.60 |
|
| Russell Midcap Value Total Return |
20.90 |
1.12 |
15.49 |
7.51 |
23.66 |
13.70 |
7.49 |
11.88 |
8.85 |
21.49 |
14.96 |
8.53 |
12.57 |
8.82 |
Quaker Small-Cap Growth Tactical Allocation Fund
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| A |
09/30/2008 |
2.28 |
QGASX |
3.49 |
-3.60 |
-0.85 |
-0.64 |
-2.09 |
-4.24 |
n/a |
n/a |
2.04 |
-4.37 |
-3.95 |
n/a |
n/a |
1.64 |
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| C |
09/30/2008 |
3.03 |
QGCSX |
9.28 |
1.81 |
4.64 |
4.88 |
2.85 |
-3.17 |
n/a |
n/a |
2.51 |
0.57 |
-2.89 |
n/a |
n/a |
2.15 |
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| I |
09/30/2008 |
2.03 |
QGISX |
9.73 |
1.93 |
4.98 |
5.09 |
3.83 |
-2.23 |
n/a |
n/a |
3.55 |
1.53 |
-1.95 |
n/a |
n/a |
3.18 |
|
| Russell 2000 Growth Total Return |
18.99 |
-0.66 |
12.47 |
5.52 |
15.67 |
12.94 |
n/a |
n/a |
10.44 |
14.52 |
14.75 |
n/a |
n/a |
10.80 |
Quaker Small-Cap Value Fund
|
| A |
11/25/1996 |
1.96 |
QUSVX |
12.46 |
-5.65 |
6.91 |
0.79 |
8.93 |
11.05 |
5.11 |
9.63 |
9.50 |
7.50 |
12.39 |
6.12 |
10.63 |
9.56 |
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| C |
07/28/2000 |
2.71 |
QSVCX |
18.68 |
-0.19 |
12.88 |
6.47 |
14.40 |
12.33 |
5.52 |
9.45 |
8.47 |
12.93 |
13.65 |
6.51 |
10.45 |
8.54 |
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| I |
09/12/2000 |
1.71 |
QSVIX |
19.15 |
-0.10 |
13.26 |
6.73 |
15.55 |
13.45 |
6.59 |
10.53 |
8.67 |
14.08 |
14.79 |
7.59 |
11.53 |
8.74 |
|
| Russell 2000 Total Return Index |
18.04 |
-0.37 |
11.98 |
5.38 |
17.69 |
11.25 |
7.27 |
10.47 |
7.61 |
16.30 |
13.45 |
8.24 |
11.52 |
7.67 |
Quaker Strategic Growth Fund
|
| A |
11/25/1996 |
2.24 |
QUAGX |
13.95 |
-3.12 |
9.30 |
2.94 |
7.53 |
5.91 |
-4.70 |
6.81 |
10.86 |
3.92 |
5.39 |
-3.64 |
7.07 |
10.75 |
|
| C |
07/11/2000 |
2.99 |
QAGCX |
20.20 |
2.44 |
15.37 |
8.73 |
12.94 |
7.11 |
-4.33 |
6.62 |
2.66 |
9.17 |
6.58 |
-3.27 |
6.88 |
2.49 |
|
| I |
07/20/2000 |
1.99 |
QAGIX |
20.65 |
2.52 |
15.78 |
9.01 |
14.12 |
8.15 |
-3.40 |
7.68 |
3.57 |
10.31 |
7.62 |
-2.31 |
7.95 |
3.39 |
|
| S&P 500 Total Return Index |
17.81 |
1.93 |
12.74 |
7.18 |
16.89 |
12.80 |
5.21 |
7.88 |
6.57 |
13.96 |
12.67 |
5.81 |
8.53 |
6.48 |
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| Net expense ratio for Fund shown. Gross expense ratio: A: 2.30%; C: 3.05%; I: 2.05%. |
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PERFORMANCE NOTES
Cumulative returns represent performance for a period of less than one year.
Class A Shares of the Funds carry a maximum sales charge of 5.50%.
*On May 24, 2010, the Pennsylvania Avenue Event Driven Fund (“the Pennsylvania Avenue Fund”), a series of Pennsylvania Avenue Funds, was reorganized into the Quaker Event Arbitrage Fund. On October 4, 2010, the Akros Absolute Return Fund, advised by Akros Capital, LLC, was reorganized into Quaker Akros Absolute Return Fund. Prior to the Reorganization the Pennsylvania Avenue Fund and Akros Absolute Return Fund did not impose a sales charge.
The net expense ratios for Quaker Akros Absolute Return Fund and Quaker Event Arbitrage Fund reflect a contractual commitment by the Fund’s investment adviser to waive fees and reimburse expenses. Absent the waiver and reimbursement, performance would have been less favorable. Absolute Return and Event Arbitrage fee waivers are effective through October 28, 2012.
ABOUT INVESTMENT RISK
Investing in the Quaker Funds may involve special risks including, but not limited to, investments in smaller companies, non-diversification, short sales, foreign securities, special situation companies, debt securities and value and growth investing. Please refer to the prospectus for more complete information.
Index Definitions
