| June 30, 2008 |
| Investment Strategy |
| The Chesapeake Growth Fund seeks capital appreciation through investments in small, medium and large capitalization growth equities. The cornerstone of the Fund's intensive in-house fundamental analysis is constant contact with the management, customers, competitors and suppliers of both current and potential investments. |
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To obtain a complete listing of the Fund's portfolio of holdings as of the most recent quarter-end, please click here. All holdings information is provided for informational purposes only and should not be deemed as a recommendation to buy the securities mentioned. The holdings information represents the largest holdings, by market value, in the Fund as of the most recent quarter end. Each quarter, the Fund's Adviser uses this same objective, non-performance based criteria to select the ten largest holdings. |
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| Annualized |
| 1 Year | 5 Year | 10 Year | |
| The Chesapeake Growth Fund Series A | -4.93% | 11.22% | 3.52% |
Net Expense Ratio as of 10/31/07 was 3.15%.
The Fund has entered into brokerage/service arrangements with several brokers through commission recapture programs (e.g., a program where a portion of the brokerage commissions paid on portfolio transactions to a broker is returned directly to the Fund). These portions are then used to offset overall Fund expenses. There can be no assurance that these arrangements will continue in the future. For more information, please see the prospectus.
| Performance shown is for the period ended June 30, 2008. The performance data quoted above represents past performance, which is not a guarantee of future results. 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 may be lower or higher than the performance data quoted. To obtain more current performance data regarding the Fund, including performance data current to the Fund’s most recent month-end, please click here. Historical performance has
been calculated by using the performance of the original Fund class
(now called the Institutional Shares) from inception on 4/6/94 until
the date of issuance of the Class A Shares on 4/7/95. During part
of the period cited the adviser assumed certain expenses and/or
waived a portion of its fee. Total return would have been lower
absent such assumptions or fee waivers. These fee waivers and/or
reimbursements are believed not to have had a significant effect
on the Fund's performance. Investment in the Fund is subject to investment risks, including, without limitation, equity securities risk, market risk, internal change risk, medium capitalization risk, portfolio turnover risk, short-term investment risk, investment adviser risk, and overweighting in certain market sectors risk. As an investor in the Fund, you are subject to the risk that you may lose your money as a result of the impact of the Fund’s investment risk on the Fund’s net asset value per share. When you sell your investment in the Fund, the value of your investment may be more or less than your initial investment. An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available by calling the Fund directly at (800) 430-3863 or the Fund’s adviser at (610) 558-2800. The prospectus should be read carefully before investing. |
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| Underwriter
and Distributor Ultimus Fund Distributors, LLC 225 Pictoria Drive, Suite 450 Cincinnati, OH 45246 Phone (800) 430-3863 |
| The Fund
is available for sale in the following states: AL, CA, CO, CT, DE, FL, GA, IL, IN, LA, MA, MD, MN, MS, NC, NY, OH, PA, RI, SC, TN, TX, VA, WA, WY |
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