News Column

The Leuthold Group Lowers Expense Ratio Caps for Two Mutual Funds, Leuthold Select Industries and Leuthold Global Industries

August 12, 2014



MINNEAPOLIS--(BUSINESS WIRE)-- The Leuthold Group and its investment management arm Leuthold Weeden Capital Management announced reductions in maximum net expenses for two mutual funds, Leuthold Select Industries (NASDAQ: LSLTX) and Leuthold Global Industries (NASDAQ: LGIIX, LGINX).

Both funds apply Leuthold’s “industry first” approach to equity selections, with Select Industries focused on U.S. stocks and Global Industries focused worldwide.

On August 11, the board of directors for the funds voted to lower maximum net expenses as follows, effective immediately:

  • Leuthold Select Industries: From 160 basis points to 150 basis points.
  • Leuthold Global Industries: From 160 basis points, which had applied to both institutional and retail share classes, to 125 basis points for the institutional share class (LGIIX) and 150 basis points for the retail share class (LGINX).

    To the extent expenses may exceed the new maximums, the firm will reimburse the funds.

    For additional details, see the “Supplement to the Prospectus dated January 31, 2014: Important Information about the Leuthold Select Industries and Leuthold Global Industries Funds,” available at www.LWCM.com or from the funds’ distributor.

    About The Leuthold Group

    The Leuthold Group has produced independent research for institutional clients for more than three decades. The experienced investment team also manages approximately $1.7 billion in both separate accounts and five mutual funds. Based in Minneapolis, The Leuthold Group is recognized as a pioneer in tactical asset allocation, with a flexible flagship strategy that has a 25-year track record. The firm’s investment philosophy stresses quantitative measures of value combined with recognition of fundamental and technical trends for an investment approach that is disciplined, unemotional, and at times contrarian.

    Risks of Investing in the Funds

    Market Risk--Prices of common stocks may decline for a number of reasons. The price declines of common stocks may be steep, sudden, and/or prolonged.

    Foreign Securities Risk--Securities issued by foreign companies may be less liquid and more volatile than U.S. securities, and may involve risks such as fluctuations in currency rates, differences in financial standards, and instability of foreign governments and economies.

    High Portfolio Turnover Risk--Annual portfolio turnover may exceed 100% and this will result in more transaction costs such as brokerage commission or mark-ups or mark-downs. This could result in increased taxes on realized gains for shareholders.

    Quantitative Investment Approach Risk--Although the Adviser continuously reviews and refines its strategy, there may be market conditions where the quantitative investment approach performs poorly.

    Investors should consider the investment objectives, risks, charges and expenses of the investment company carefully before investing. The Prospectus contains this and other information about the Fund. For current Prospectus, call toll-free 800-273-6886, or go to www.LeutholdFunds.com. Please read the Prospectus carefully before you invest.

    Not FDIC Insured    No Bank Guarantee     May Lose Value

    Distributor: Rafferty Capital Markets, LLC Garden City, NY 11530




    The Leuthold Group

    John Mueller, Co-CEO

    (612) 332-9141

    Source: The Leuthold Group


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