User Agreement ADV Privacy Policy BCP Disclosure Glossary of Terms
Large Cap Growth Fund COGGX | COGEX
Overview

Daily Price

as of
Ticker NAV $ Change % Change
 
 
Fund Facts
Total Assets* $4,957,934
Morningstar Category Large Growth
Benchmark Russell 1000 TR Index
Inception Date

* as of 06/30/17

Fund Summary Investor Institutional
Ticker
CUSIP
Investment Minimum $1,000 $100,000

Investment Objective

Cognios Large Cap Growth Fund seeks long-term growth of capital.

Investment Team

Jonathan Angrist Brian Machtley Francisco Bido

If you have questions about terminology used in the call, please visit our Glossary of Terms page for definitions.

Strategy

Principal Investment Strategies

The Growth Fund seeks to achieve its investment objective by purchasing equity securities that the Adviser believes are likely to appreciate. It generally seeks to purchase equity securities of large capitalization U.S. companies, and may purchase American Depository Receipts (“ADR’s”) of international companies trading on U.S. exchanges, that exhibit accelerating growth in earnings and revenue.

The Adviser uses quantitative screens to evaluate liquidity, capitalization, domicile and desired risk attributes to determine an initial universe of large capitalization companies from which the Growth Fund may invest. The Adviser then uses a quantitative process to evaluate the company fundamentals and stocks price trends of the investment candidates. 
Macroeconomic influences on portfolio candidates are considered before selecting the final securities for purchase in the portfolio. The Adviser considers whether to sell a particular security when the security receives declining scores from the Adviser’s proprietary model or the security causes the Growth Fund’s portfolio to be exposed to unintended risks.

Strategy Characteristics

  • Utilizes Cognios' proprietary growth and acceleration models
  • Seeks to identify companies with accelerating revenue and earnings before the acceleration has been identified by the market
  • Actively managed, concentrated portfolio
  • Process designed to combine the best of quantitative and traditional active management
Performance

Quarterly Conference Calls

If you have questions about terminology used in the call, please visit our Glossary of Terms page for definitions.

Monthly Quarterly Growth of 10K Calendar Year

Calendar Year Performance
Investor1
Institutional1
2
3

The Fund launched .

Diversification does not eliminate the risk of experiencing investment losses.

Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 855.254.6467.

1 Cognios Inception Date of .

2 HFRX EH: Equity Market Neutral Index is a common benchmark for long/short market neutral hedge funds (funds traditionally only available to high net-worth accredited and institutional investors that are also "qualified clients" as defined by the SEC). More information about this index may be found at www.hedgefundresearch.com.

3 S&P 500 TR Index: Broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks commonly known as the Standard & Poor's 500 or S&P 500. Indices are unmanaged and cannot be invested in directly.

Investor Class: Gross Expense Ratio - 4.08%, Net Expense Ratio - 3.81%, Adj. Net Expense Ratio - 1.95% as of 01/28/2017

Institutional Class: Gross Expense Ratio - 3.84%, Net Expense Ratio - 3.56%, Adj. Net Expense Ratio - 1.70% as of 01/28/2017

Cognios Capital, LLC (the “Adviser”) has agreed contractually to reduce the fees payable to it under the Advisory Agreement (but not below zero) and/or reimburse other expenses of the Fund attributable to services provided by ALPS Fund Services, Inc. and its affiliates (including, but not limited to, organizational expenses and offering costs), to the extent necessary to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of each of the Investor Class and Institutional Class shares of the Fund (exclusive of brokerage costs, interest, taxes, dividends, litigation expenses, indemnification amounts, borrowing costs, brokerage expenses and dividend expenses on securities sold short, distribution/12b-1 fees and extraordinary expenses (as determined under generally accepted accounting principles) to 1.70% of the Fund´s average annual net assets. This agreement is in effect through January 31, 2018 and may not be terminated or modified prior to this date except with the approval of the Fund’s Board of Trustees. The Adviser will be permitted to recover, on a class-by-class basis, expenses it has borne through the agreement described above to the extent that the Fund’s expenses in later periods fall below the annual rates set forth in the agreement. The Fund will not be obligated to pay any such deferred fees and expenses more than three years after the end of the fiscal year in which the fees and expenses were deferred.

Diversification does not eliminate the risk of experiencing investment losses.

Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 855.254.6467.

1 Cognios Inception Date of .

2 S&P 500 TR Index: Broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks commonly known as the Standard & Poor's 500 or S&P 500. Indices are unmanaged and cannot be invested in directly.

3 Russell 1000® Value Index: Measures the performance of those Russell 1000 Index companies (the 1,000 largest publicly traded U.S. companies, based on total market capitalization) with lower price-to-book ratios and lower forecasted growth values.

Investor Class: Gross Expense Ratio - 1.36%, Net Expense Ratio - 1.10% as of 10/03/2016

Institutional Class: Gross Expense Ratio - 1.11%, Net Expense Ratio - 0.85% as of 10/03/2016

Cognios Capital, LLC (the “Adviser”) has entered into an Expense Limitation Agreement with the Value Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Value Fund, if necessary, in an amount that limits the Value Fund’s annual operating expenses (exclusive of interest, taxes, brokerage fees and commissions, acquired funds fees and expenses, extraordinary expenses, and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act) to not more than 0.85% through at least October 31, 2018. Subject to approval by the Value Fund’s Board, any waiver under the Expense Limitation Agreement is subject to repayment by the Value Fund within the three fiscal years following the year in which such waiver occurred, if the Value Fund is able to make the payment without exceeding the expense limitation in place at the time of the waiver. The current contractual agreement cannot be terminated prior to at least one year after the effective date of the Registration Statement without the Board of Trustees’ approval.

Diversification does not eliminate the risk of experiencing investment losses.

Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 855.254.6467.

1 Cognios Inception Date of .

2 Russell 1000® TR Index: A market-capitalization weighted, large-cap index created by Frank Russell Company to measure the performance of the 1,000 largest publicly traded U.S. companies, based on total market capitalization.

3 Russell 1000® Growth Index: Measures the performance of those Russell 1000 Index companies (the 1,000 largest publicly traded U.S. companies, based on total market capitalization) with higher price-to-book ratios and higher forecasted growth values.

Investor Class: Gross Expense Ratio - 2.52%, Net Expense Ratio - 1.15% as of 10/03/2016

Institutional Class: Gross Expense Ratio - 2.27%, Net Expense Ratio - 0.90% as of 10/03/2016

Cognios Capital, LLC (the “Adviser”) has entered into an Expense Limitation Agreement with the Growth Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Growth Fund, if necessary, in an amount that limits the Growth Fund’s annual operating expenses (exclusive of interest, taxes, brokerage fees and commissions, acquired funds fees and expenses, extraordinary expenses, and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act) to not more than 0.90% through at least October 31, 2018. Subject to approval by the Growth Fund’s Board, any waiver under the Expense Limitation Agreement is subject to repayment by the Growth Fund within the three fiscal years following the year in which such waiver occurred, if the Growth Fund is able to make the payment without exceeding the expense limitation in place at the time of the waiver. The current contractual agreement cannot be terminated prior to at least one year after the effective date of the Registration Statement without the Board of Trustees’ approval.

Performance

1 Month 3 Month YTD 1 Year 3 Year 5 Year Since Inception1

The Fund launched . All performance greater than one year is annualized.

Diversification does not eliminate the risk of experiencing investment losses.

Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 855.254.6467.

1 Cognios Inception Date of .

2 HFRX EH: Equity Market Neutral Index is a common benchmark for long/short market neutral hedge funds (funds traditionally only available to high net-worth accredited and institutional investors that are also "qualified clients" as defined by the SEC). More information about this index may be found at www.hedgefundresearch.com.

3 S&P 500 TR Index: Broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks commonly known as the Standard & Poor's 500 or S&P 500. Indices are unmanaged and cannot be invested in directly.

Investor Class: Gross Expense Ratio - 4.08%, Net Expense Ratio - 3.81%, Adj. Net Expense Ratio - 1.95% as of 01/28/2017

Institutional Class: Gross Expense Ratio - 3.84%, Net Expense Ratio - 3.56%, Adj. Net Expense Ratio - 1.70% as of 01/28/2017

Cognios Capital, LLC (the “Adviser”) has agreed contractually to reduce the fees payable to it under the Advisory Agreement (but not below zero) and/or reimburse other expenses of the Fund attributable to services provided by ALPS Fund Services, Inc. and its affiliates (including, but not limited to, organizational expenses and offering costs), to the extent necessary to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of each of the Investor Class and Institutional Class shares of the Fund (exclusive of brokerage costs, interest, taxes, dividends, litigation expenses, indemnification amounts, borrowing costs, brokerage expenses and dividend expenses on securities sold short, distribution/12b-1 fees and extraordinary expenses (as determined under generally accepted accounting principles) to 1.70% of the Fund´s average annual net assets. This agreement is in effect through January 31, 2018 and may not be terminated or modified prior to this date except with the approval of the Fund’s Board of Trustees. The Adviser will be permitted to recover, on a class-by-class basis, expenses it has borne through the agreement described above to the extent that the Fund’s expenses in later periods fall below the annual rates set forth in the agreement. The Fund will not be obligated to pay any such deferred fees and expenses more than three years after the end of the fiscal year in which the fees and expenses were deferred.

Diversification does not eliminate the risk of experiencing investment losses.

Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 855.254.6467.

1 Cognios Inception Date of .

2 S&P 500 TR Index: Broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks commonly known as the Standard & Poor's 500 or S&P 500. Indices are unmanaged and cannot be invested in directly.

3 Russell 1000® Value Index: Measures the performance of those Russell 1000 Index companies (the 1,000 largest publicly traded U.S. companies, based on total market capitalization) with lower price-to-book ratios and lower forecasted growth values.

Investor Class: Gross Expense Ratio - 1.36%, Net Expense Ratio - 1.10% as of 10/03/2016

Institutional Class: Gross Expense Ratio - 1.11%, Net Expense Ratio - 0.85% as of 10/03/2016

Cognios Capital, LLC (the “Adviser”) has entered into an Expense Limitation Agreement with the Value Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Value Fund, if necessary, in an amount that limits the Value Fund’s annual operating expenses (exclusive of interest, taxes, brokerage fees and commissions, acquired funds fees and expenses, extraordinary expenses, and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act) to not more than 0.85% through at least October 31, 2018. Subject to approval by the Value Fund’s Board, any waiver under the Expense Limitation Agreement is subject to repayment by the Value Fund within the three fiscal years following the year in which such waiver occurred, if the Value Fund is able to make the payment without exceeding the expense limitation in place at the time of the waiver. The current contractual agreement cannot be terminated prior to at least one year after the effective date of the Registration Statement without the Board of Trustees’ approval.

Diversification does not eliminate the risk of experiencing investment losses.

Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 855.254.6467.

1 Cognios Inception Date of .

2 Russell 1000® TR Index: A market-capitalization weighted, large-cap index created by Frank Russell Company to measure the performance of the 1,000 largest publicly traded U.S. companies, based on total market capitalization.

3 Russell 1000® Growth Index: Measures the performance of those Russell 1000 Index companies (the 1,000 largest publicly traded U.S. companies, based on total market capitalization) with higher price-to-book ratios and higher forecasted growth values.

Investor Class: Gross Expense Ratio - 2.52%, Net Expense Ratio - 1.15% as of 10/03/2016

Institutional Class: Gross Expense Ratio - 2.27%, Net Expense Ratio - 0.90% as of 10/03/2016

Cognios Capital, LLC (the “Adviser”) has entered into an Expense Limitation Agreement with the Growth Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Growth Fund, if necessary, in an amount that limits the Growth Fund’s annual operating expenses (exclusive of interest, taxes, brokerage fees and commissions, acquired funds fees and expenses, extraordinary expenses, and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act) to not more than 0.90% through at least October 31, 2018. Subject to approval by the Growth Fund’s Board, any waiver under the Expense Limitation Agreement is subject to repayment by the Growth Fund within the three fiscal years following the year in which such waiver occurred, if the Growth Fund is able to make the payment without exceeding the expense limitation in place at the time of the waiver. The current contractual agreement cannot be terminated prior to at least one year after the effective date of the Registration Statement without the Board of Trustees’ approval.

Performance

3 Month YTD 1 Year 3 Year 5 Year Since Inception1

The Fund launched . All performance greater than one year is annualized.

Diversification does not eliminate the risk of experiencing investment losses.

Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 855.254.6467.

1 Cognios Inception Date of .

2 HFRX EH: Equity Market Neutral Index is a common benchmark for long/short market neutral hedge funds (funds traditionally only available to high net-worth accredited and institutional investors that are also "qualified clients" as defined by the SEC). More information about this index may be found at www.hedgefundresearch.com.

3 S&P 500 TR Index: Broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks commonly known as the Standard & Poor's 500 or S&P 500. Indices are unmanaged and cannot be invested in directly.

Investor Class: Gross Expense Ratio - 4.08%, Net Expense Ratio - 3.81%, Adj. Net Expense Ratio - 1.95% as of 01/28/2017

Institutional Class: Gross Expense Ratio - 3.84%, Net Expense Ratio - 3.56%, Adj. Net Expense Ratio - 1.70% as of 01/28/2017

Cognios Capital, LLC (the “Adviser”) has agreed contractually to reduce the fees payable to it under the Advisory Agreement (but not below zero) and/or reimburse other expenses of the Fund attributable to services provided by ALPS Fund Services, Inc. and its affiliates (including, but not limited to, organizational expenses and offering costs), to the extent necessary to limit the Total Annual Fund Operating Expenses (as defined in Item 3 of Form N-1A) of each of the Investor Class and Institutional Class shares of the Fund (exclusive of brokerage costs, interest, taxes, dividends, litigation expenses, indemnification amounts, borrowing costs, brokerage expenses and dividend expenses on securities sold short, distribution/12b-1 fees and extraordinary expenses (as determined under generally accepted accounting principles) to 1.70% of the Fund´s average annual net assets. This agreement is in effect through January 31, 2018 and may not be terminated or modified prior to this date except with the approval of the Fund’s Board of Trustees. The Adviser will be permitted to recover, on a class-by-class basis, expenses it has borne through the agreement described above to the extent that the Fund’s expenses in later periods fall below the annual rates set forth in the agreement. The Fund will not be obligated to pay any such deferred fees and expenses more than three years after the end of the fiscal year in which the fees and expenses were deferred.

Diversification does not eliminate the risk of experiencing investment losses.

Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 855.254.6467.

1 Cognios Inception Date of .

2 S&P 500 TR Index: Broad-based measurement of changes in stock market conditions based on the average performance of 500 widely held common stocks commonly known as the Standard & Poor's 500 or S&P 500. Indices are unmanaged and cannot be invested in directly.

3 Russell 1000® Value Index: Measures the performance of those Russell 1000 Index companies (the 1,000 largest publicly traded U.S. companies, based on total market capitalization) with lower price-to-book ratios and lower forecasted growth values.

Investor Class: Gross Expense Ratio - 1.36%, Net Expense Ratio - 1.10% as of 10/03/2016

Institutional Class: Gross Expense Ratio - 1.11%, Net Expense Ratio - 0.85% as of 10/03/2016

Cognios Capital, LLC (the “Adviser”) has entered into an Expense Limitation Agreement with the Value Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Value Fund, if necessary, in an amount that limits the Value Fund’s annual operating expenses (exclusive of interest, taxes, brokerage fees and commissions, acquired funds fees and expenses, extraordinary expenses, and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act) to not more than 0.85% through at least October 31, 2018. Subject to approval by the Value Fund’s Board, any waiver under the Expense Limitation Agreement is subject to repayment by the Value Fund within the three fiscal years following the year in which such waiver occurred, if the Value Fund is able to make the payment without exceeding the expense limitation in place at the time of the waiver. The current contractual agreement cannot be terminated prior to at least one year after the effective date of the Registration Statement without the Board of Trustees’ approval.

Diversification does not eliminate the risk of experiencing investment losses.

Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 855.254.6467.

1 Cognios Inception Date of .

2 Russell 1000® TR Index: A market-capitalization weighted, large-cap index created by Frank Russell Company to measure the performance of the 1,000 largest publicly traded U.S. companies, based on total market capitalization.

3 Russell 1000® Growth Index: Measures the performance of those Russell 1000 Index companies (the 1,000 largest publicly traded U.S. companies, based on total market capitalization) with higher price-to-book ratios and higher forecasted growth values.

Investor Class: Gross Expense Ratio - 2.52%, Net Expense Ratio - 1.15% as of 10/03/2016

Institutional Class: Gross Expense Ratio - 2.27%, Net Expense Ratio - 0.90% as of 10/03/2016

Cognios Capital, LLC (the “Adviser”) has entered into an Expense Limitation Agreement with the Growth Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Growth Fund, if necessary, in an amount that limits the Growth Fund’s annual operating expenses (exclusive of interest, taxes, brokerage fees and commissions, acquired funds fees and expenses, extraordinary expenses, and amounts, if any, payable pursuant to a plan adopted in accordance with Rule 12b-1 under the 1940 Act) to not more than 0.90% through at least October 31, 2018. Subject to approval by the Growth Fund’s Board, any waiver under the Expense Limitation Agreement is subject to repayment by the Growth Fund within the three fiscal years following the year in which such waiver occurred, if the Growth Fund is able to make the payment without exceeding the expense limitation in place at the time of the waiver. The current contractual agreement cannot be terminated prior to at least one year after the effective date of the Registration Statement without the Board of Trustees’ approval.

Hypothetical Growth of $10,000

 

The chart shown above represents a hypothetical investment of $10,000 in the Fund’s Investor Class shares for the period from inception to . All returns reflect reinvested dividends, but do not reflect the deduction of taxes that an investor would pay on distributions or redemptions. Investing in the Fund is subject to investment risks, including possible loss of the principal amount invested. The Fund also offers Institutional Class shares, performance for which is not reflected in the graphs above. The performance of Institutional Class shares may be higher or lower than the performance of the Investor Class shares shown in the graphs above based upon differences in fees paid by shareholders investing in the Investor Class shares and Institutional Class shares.

Holdings

Sector Exposure

Top 10 Holdings

Distributions
Class Ex-Date Record Date Payable Date Short Term Long Term Ordinary Income Total

Distributions are not guaranteed.

Distributions were the same across all share classes.

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Literature

Regulatory

Marketing

How To Invest
Investment Professionals: Contact Us Directly

To open an account with the Cognios Large Cap Growth Fund, please contact a financial advisor at the financial institution of your choice.

There is no minimum investment requirement for accounts opened through a financial advisor, although some financial intermediary firms may impose their own minimum investment requirements.

Investing Directly with the Funds

Cognios Large Cap Growth Fund

For eligible investors seeking to open an account directly with the Cognios Large Cap Growth Fund, please download and carefully read the fund's prospectus as well as the appropriate Account Application form below.

Please mail a check payable to Cognios Large Cap Growth Fund in the applicable minimum amount, along with a completed and signed Account Application to:

Cognios Funds
C/o M3Sixty Administration, LLC
4520 Main Street, Suite 1425
Kansas City, MO 64111
888.553.4233

Applications must include your valid taxpayer identification number.

You may also purchase Fund shares by wire transfer from your bank account to your Fund account. To place a purchase by wire, please call 888.553.4233 for more information.