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Short Term Bond Fund

The Red Cedar Short Term Bond Fund seeks to preserve capital and maximize current income.

Fund Overview

Capital Preservation

The Fund is focused on capital preservation through investment in a number of security types including U.S government bonds, investment grade corporate bonds, asset-backed and mortgage backed securities.

Yield Focus 

Emphasis is placed on securities with a high level of current income through rigorous capital structure analysis to identify potential stable sources of yield.

Active Management

The fund employs an active management approach in an effort to achieve its investment objective, which is to seek preservation of capital and maximize current income.

Jason Schwartz, CFA

Senior Portfolio Manager

Michael Martin, CFA

Senior Portfolio Manager

Patricia Younker

Senior Portfolio Manager

John Cassady III, CFA

Chief Investment Officer

Investment Approach

Under normal market circumstances, the Fund will invest at least 80% of its net assets in U.S. dollar-denominated debt obligations, including corporate bonds, bonds issued by municipalities and local authorities, U.S. treasury obligations, U.S. treasury inflation-protected securities (“TIPS”) and other U.S. government and agency securities, U.S. dollar denominated bonds issued by foreign governments and corporations, asset-backed, commercial mortgage-backed, mortgage-related and mortgage-backed securities.

The Fund only invests in debt obligations that, at the time of purchase, are rated at least Baa3 or higher by Moody’s Investors Services, Inc., or BBB- or higher by Standard & Poor’s Ratings Services or Fitch, Inc., or, if unrated, are determined by Red Cedar Portfolio Management to be of comparable quality.

Under normal circumstances, the Fund’s dollar-weighted average portfolio effective maturity will be more than one year but less than three. The Fund may shorten or lengthen its average weighted effective maturity for temporary defensive purposes.

The Fund may invest a significant portion of its assets in mortgage-backed securities, asset-backed securities and other securitized products. Securitized products may be structured as collateralized mortgage obligations (agency and non-agency), stripped mortgage-backed securities (interest-only or principal-only), commercial mortgage-backed securities, mortgage pass-through securities and other asset-backed securities. In addition to direct investments in securities, the Fund may hold a variety of derivatives, including futures contracts, options, swaps and forward contracts.

Ticker

RCSTX

cusip

75644E103

Inception date

Nov. 15, 2019

Expense Ratio1

Net: 0.45%
Gross: 0.69%

INDEX

Bloomberg Bar 1-3 Yr
US Gov/Credit 

1Red Cedar Investment Management, LLC has contractually agreed to reduce the Management Fee and reimburse Other Expenses until November 1, 2021 to the extent necessary to limit Total Annual Fund Operating Expenses to an amount not exceeding 0.45% of the Fund’s average daily net assets.

Additional Resources

SAI

Prospectus

Summary Prospectus

Minimum Initial Investment
The minimum initial investment amount for all regular accounts is $10,000.
The minimum initial investment for IRA accounts is $2,000.

Minimum Additional Investment
Once an account is open, additional purchases of Fund shares may be made at any time with a minimum of $100 for all accounts.

Latest News & Commentary

Outlook 2019

December 31, 2018 Insights

Twelve basis points. That’s all that stands between us and a recession in 2019 if you consider that a yield curve inversion between the 2-year and 10-year U.S. Treasury is an indicator of impending economic disaster. For our part, we think the doom and gloom is being blown out of proportion and that this economic expansion has room to run. There will absolutely be twists and turns along the way, but we have confidence that the Federal Open Market Committee (FOMC) and global leaders will keep the global economy on the correct path throughout 2019.

Read Full Article Download Article PDF

Red Cedar Investment Management Announces Launch of Red Cedar Short Term Bond Fund (RCSTX)

December 10, 2019 News

The fund is focused on capital preservation through investment in a diverse set of security types including U.S. government bonds, investment grade corporate bonds, asset-backed and mortgage backed securities. 

Read Full Article Download Article PDF

Disclosures and Definitions

The Fund may invest in mortgage and asset-backed securities which may be subject to prepayment risk and thus may be more sensitive to interest rate changes than other types of debt securities. The Fund may invest in derivative instruments which involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional instruments. The Fund may also invest in U.S. dollar-denominated securities issued by foreign issuers which involve additional risks including political and economic instability, differences in financial reporting standards and less regulated securities markets. A bond’s market value may be affected significantly by changes in interest rates – generally, when interest rates rise, the bond’s market value declines and when interest rates decline, its market value rises (“interest rate risk”).

The Bloomberg Barclays 1-3 U.S. Government / Credit Bond Index is an index consisting of Treasury or government agency securities and investment-grade corporate debt securities with maturities of one to three years. Indices are unmanaged and are not available for direct investment.

Main office

333 Bridge Street NW, Suite 601
Grand Rapids, MI
49504

1 888 626 2575

Mutual fund investing involves risk, including the possible loss of principal.

Before you invest in the Fund, please refer to the prospectus for important information about the investment company, including investment objectives, risks, charges and expenses. You may also obtain a hard copy of the prospectus by calling 888-626-2575. The prospectus should be read carefully before you invest or send money.

Check the background of Ultimus Fund Distributors, LLC on FINRA's BrokerCheck.

Red Cedar Investment Management, LLC ("Red Cedar") is the adviser to Red Cedar Funds, which are distributed by Ultimus Fund Distributors, LLC.

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