ASTON/Herndon Large Cap Value Fund
| N | I | |
|---|---|---|
| CUSIP | 00080Y660 | 00080Y595 |
| Ticker | AALIX | AHRNX |
| Share Class Inception | 3/31/2010 | 3/2/2011 |
| Gross Exp Ratio (%) | 1.42 | 1.17 |
| Net Exp Ratio (%) | 1.30 | 1.05 |
| NAV | 13.09 | 13.11 |
| NAV Change (%) |  0.23 | 0.15 |
| Dividend Frequency | Annual |
| Benchmark | Russell 1000 Value Index |
| Morningstar Category | Large Blend |
Overall Morningstar Rating™
Among 1451 Large Blend funds derived from a weighted average of the Fund’s 3-, 5- and 10-year risk-adjusted returns as of 4/30/13.
Fund Resources
Portfolio Manager
Randell Cain, CFA
Randell Cain, CFA
Randell Cain, CFA Principal and Portfolio Manager Randell Cain has been the lead portfolio manager of the Fund since the Fund’s inception. Mr. Cain joined Herndon in 2002 and is a Principal and Portfolio Manager for Herndon. Prior to joining Herndon, he worked as a portfolio manager at NCM Capital for five years. Mr. Cain received a BS from Morehouse College, a Bachelor of Industrial Engineering degree from Georgia Institute of Technology, an MBA from Harvard Business School and holds the Chartered Financial Analyst Designation.
Investment Style
The ASTON/Herndon Large Cap Value Fund seeks to provide long-term capital appreciation.
Investment Strategy
The Fund invests in large-cap companies, defined by inclusion in the Russell 1000 Index, which are undervalued relative to other companies in the index.
Risk Considerations
Value investing involves buying the stocks of companies that are out of favor or are undervalued. This may adversely affect the Fund's value and return.
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| Fund Stats (as of 3/31/13) | N Shares | I Shares |
|---|---|---|
| Origin Of Information | Baseline | Baseline |
| Sales Load | None | None |
| Total Net Assets (5/23/13) | $35,265,654.69 | $58,135,966.03 |
| Turnover * | 81% | 81% |
| Minimum Investment | 2,500 | 1,000,000 |
| Alpha (3 yr.) | -0.60 | N/A |
| Beta (3 yr.) | 0.99 | N/A |
| R-Squared (3 yr.) | 0.90 | N/A |
| Standard Dev (3 yr.) | 15.97 | N/A |
| Sharpe Ratio (3 yr.) | 0.22 | N/A |
| Current Wtd Average P/E (trailing) | 10.90 | 10.90 |
| Current Wtd Average P/B (trailing) | 2.80 | 2.80 |
| Median Mkt Cap ($Mil) | 14,260 | 14,260 |
| Average Wtd Coupon | N/A | N/A |
| Effective Maturity | N/A | N/A |
| Sector Breakdown (as of 4/30/13) | |
|---|---|
| Energy | 24.47% |
| Financials | 18.46% |
| Consumer Discretionary | 10.88% |
| Consumer Staples | 9.96% |
| Industrials | 9.85% |
| Information Technology | 9.82% |
| Health Care | 7.62% |
| Materials | 5.33% |
| Cash Equivalents & Other | 3.60% |
| Top 10 Holdings (as of 4/30/13) | |||||
|---|---|---|---|---|---|
| Company | Ticker | CUSIP | Number of Shares | Market Value | % of Net Assets |
| ULTRA PETROLEUM CORP | UPL | 903914109 | 136,852 | $2,928,632.80 | 3.18% |
| MARATHON PETROLEUM CORP | MPC | 56585A102 | 35,145 | $2,753,962.20 | 2.99% |
| TJX COMPANIES INC | TJX | 872540109 | 54,087 | $2,637,822.99 | 2.87% |
| AFLAC INC | AFL | 001055102 | 47,925 | $2,609,037.00 | 2.83% |
| WESTERN DIGITAL CORP | WDC | 958102105 | 45,947 | $2,539,950.16 | 2.76% |
| ROSS STORES INC | ROST | 778296103 | 37,427 | $2,472,801.89 | 2.69% |
| COPA HOLDINGS SA-CLASS A | CPA | P31076105 | 19,208 | $2,412,140.64 | 2.62% |
| ALTRIA GROUP INC | MO | 02209S103 | 64,965 | $2,371,872.15 | 2.58% |
| HOLLYFRONTIER CORP | HFC | 436106108 | 47,887 | $2,368,012.15 | 2.57% |
| APARTMENT INVT & MGMT CO -A | AIV | 03748R101 | 73,388 | $2,283,100.68 | 2.48% |
As the fund is actively managed, the securities as presented may not represent the current or future composition of the portfolio.
*Note Regarding Turnover: During the third quarter of 2011, the correction of a trading error caused a significant increase in the portfolio turnover ratio. Please be assured that the Fund’s NAV and investment performance were not negatively impacted by this error
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