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Semi-Annual Report

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Investment Risks:
Mutual fund investing involves risk. Principal loss is possible. The Fund may have a relatively high concentration of assets in a single or small number of issuers, which may reduce its diversification and result in increased volatility. Investments in securities of foreign issuers involve risks not ordinarily associated with investments in securities and instruments of U.S. issuers, including risks relating to political, social and economic developments abroad, differences between U.S. and foreign regulatory and accounting requirements, tax risks, and market practices, as well as fluctuations in foreign currencies. The market price of the shares of an ETF will fluctuate based on changes in the net asset value as well as changes in the supply and demand of its shares in the secondary market. It is also possible that an active secondary market of an ETF’s shares may not develop and market trading in the shares of the ETF may be halted under certain circumstances. The fund will bear its share of expenses and the underlying risks of investments in ETFs and other investment companies. Investments in mid-cap securities involve additional risks such as limited liquidity and greater volatility than larger companies.

Not FDIC Insured – No Bank Guarantee – May Lose Value.

Before you invest in Coho Funds, please refer to the statutory prospectus for important information about the investment company, including investment objectives, risks, charges, and expenses. You may obtain a hard copy of the prospectus by calling 866.COHO.234 or 866.264.6234 or by clicking here. The prospectus should be read carefully before you invest or send money.

The Coho Funds are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

The Coho Funds are distributed by Quasar Distributors, LLC.

Past performance is no guarantee of future results

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