Performance as of Most Recent Quarter-End

Performance as of September 30, 2017 Cumulative
3-Months
Cumulative
Calendar
YTD
Annualized
1-Year
Annualized
2-Year
Annualized
3-Year
Annualized
5-Year
Annualized
10-Year
Annualized
Since
Inception
12/31/1998
Kirr, Marbach Partners Value Fund (1) 3.13% 9.02% 16.72% 11.38% 5.91% 10.47% 6.18% 7.57%
Russell 3000 Total Return (2) 4.57% 13.91% 18.71% 16.82% 10.74% 14.23% 7.57% 6.33%
S&P 500 Index–Dividends Reinvested (3) 4.48% 14.24% 18.61% 17.01% 10.81% 14.22% 7.44% 5.90%

The Fund’s Gross Expense Ratio and Net Expense Ratio were 1.50%, and 1.46%, respectively, according to the Prospectus dated January 27, 2017. Until February 28, 2018, the Adviser has contractually agreed to waive its management fee and/or reimburse the Fund’s other expenses to the extent necessary to ensure that the annual operating expenses do not exceed 1.45% of its average net assets.

Performance data quoted represents past performance; past performance is no guarantee of future results. 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. Performance data current to the most recent month-end may be obtained by calling 1-800-980-8039. 

The fund imposes a 1.00% redemption fee on shares held less than 30 days. Performance data quoted does not reflect the redemption fee. If reflected, total returns would be reduced.

  1. The performance data quoted assumes the reinvestment of capital gains and income distributions. Performance also reflects fee waivers in effect. In absence of fee waivers, total return would be reduced. The performance does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
  2. The Russell 3000 Index is an unmanaged, capitalization-weighted index generally representative of the overall U.S. stock market. This Index cannot be invested in directly.
  3. The S&P 500 Index is an unmanaged, capitalization-weighted index generally representative of the U.S. market for large capitalization stocks. This Index cannot be invested in directly.