A note to readers: The original names of Towpath Focus Fund and Towpath Technology Fund before they were launched were “Oelschlager Equity Fund” and "Oelschlager Technology Fund."

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IMPORTANT INFORMATION:
Towpath Focus Fund (TOWFX): Gross Expense Ratio is 1.74%/Net Expense Ratio is 1.11%.

The Fund's Adviser has contractually agreed to reduce its fees and to reimburse expenses, at least through 03/31/2022, to ensure that total annual Fund operating expenses after fee waiver and reimbursement will not exceed 1.10% of the Fund’s average daily net assets. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years of the date on which the waiver or reimbursement occurs, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. This agreement may be terminated only by the Fund's Board of Trustees, on 60 days written notice to the Fund's Adviser.

 

Towpath Technology Fund (TOWTX): Gross Expense Ratio is 1.40%/Net Expense Ratio is 1.10%.

The Fund's Adviser has contractually agreed to reduce its fees and to reimburse expenses, at least through 03/31/2022, to ensure that total annual Fund operating expenses after fee waiver and will not exceed 1.10% of the Fund's average daily net assets. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years of the date on which the waiver or reimbursement occurs, if such recoupment can be achieved within the lesser of the foregoing expense limits or the expense limits in place at the time of recoupment. This agreement may be terminated only by the Fund's Board of Trustees, on 60 days written notice to the Fund's Adviser.

 

 

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