SOURCE: Eventide Gilead Fund

Eventide Gilead Fund

July 07, 2011 08:30 ET

Morningstar Ranks the Eventide Gilead Fund Within Top Decile of All Mid-Cap Growth Mutual Funds Over the Three Year Period Ending July 1, 2011

BOSTON, MA--(Marketwire - Jul 7, 2011) - The Eventide Gilead Fund's no-load class (NASDAQ: ETGLX) was ranked by Morningstar within the top decile of all U.S. mid-cap growth mutual funds among 680 funds for the three year period ending July 1, 2011.

For the three years ending June 30, 2011, the Eventide Gilead Fund generated an annualized total return of 15.50%, compared to an annualized total return of 3.51% for S&P 500. During this period, ETGLX has outperformed the S&P 500 Index by 11.99% annualized.

The following table highlights the Fund's performance over the past three years:

Total Return (06/30/2011)        1 month      YTD      1 year Inception
                                                         (annualized)
------------------------------------------------------------------------
Eventide Gilead                      0.88%   13.58%     47.93%     15.50%
S&P 500                             -1.67%    6.02%     30.69%      3.51%




Total Return (07/01/2011)         1 month     YTD      1 year Inception
                                                         (annualized)
------------------------------------------------------------------------
Eventide Gilead                      6.18%   15.33%     50.80%     15.97%
S&P 500                              2.08%    7.56%     33.01%      3.69%
Mid-Cap Growth                       2.55%    9.76%     42.15%      5.72%
% Rank in Category
 (Mid-Cap Growth)                       1        5          9          1
# of Funds in Category
 (Mid-Cap Growth)                     800      790        768        680
Growth of $10,000                $ 10,618 $ 11,533   $ 15,080   $ 15,598

Expenses ratios: Gross Expenses 4.13%, Net Expenses 1.63%. The advisor has agreed to maintain the Fund's total annual operating expenses at 1.63% until at least October 31, 2011.

The Eventide portfolio management team attributes the Fund's long-term outperformance to its values-driven investment approach.

"We believe that companies that prosper best over the long-term are those that serve others. Accordingly, we invest in companies that operate with integrity and excel at creating value. Just as importantly, we avoid investing in companies that engage in predatory behavior or harm customers, society, and eventually shareholders. The result is 'values-based investing' and it not only gives us the potential for outperformance, it also provides a unique opportunity to invest in companies whose products and practices help create a better world," explains Eventide portfolio manager Finny Kuruvilla, MD, PhD.

Dr. Kuruvilla continues, "We are honored that according to Morningstar we have surpassed the performance of 99% of mid-cap growth funds, a competitive category of 680 funds that includes many funds run by high quality managers at prestigious firms. The last three years have included the worst period in the markets since the Great Depression as well as a tremendous rally. Our outperformance through these tumultuous market periods is a testament to the strength of our approach. We believe that the vast majority of investors are neglecting the alpha that comes from values-based investing."

According to co-portfolio manager David Barksdale, "Eventide actively manages the Gilead Fund in pursuit of performance that is not merely reflective of the movement of broad market indices. We believe this provides better diversification benefits for our investors and allows for a greater potential for outperformance."

The Gilead Fund is managed by Eventide Asset Management, LLC, a Boston-based investment advisor practicing faith-based and socially responsible investing.

The performance pertains to the no-load* class. The Fund offers multiple classes of shares for which performance will differ, based upon fees and commissions. *Other expenses that apply to a continued investment in the fund are described in the Fund's prospectus.

The S&P 500 is an index created by Standard & Poor's and is considered to represent the performance of the stock market generally. It is not an investment product available for purchase.

Alpha is the mean performance of a fund over a time period that is not explained by price movements of a related market index.

Morningstar Mid-Cap Growth Category Description:
Category includes both mid-cap growth funds that invest in stocks of companies of all sizes, thus leading to a mid-cap profile, and those that focus on midsize companies. Normally, the Gilead Fund invests primarily in a broad range of equity securities without limitation to market capitalization.

Performance is historic and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain the most recent month end performance information or the fund's prospectus please call the fund, toll free at 1-877-771-EVEN (3836). You can also obtain a prospectus at www.eventidefunds.com. An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the Eventide Gilead Fund can be found in the Fund's prospectus. Please read the prospectus carefully before investing. The Fund is distributed by Matrix Capital Group, Inc., New York, NY 10017.

Contact Information

  • Robin John
    Managing Partner
    877-771-3836 x 55

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