MALVERN, Pa., Nov. 30, 2005 (PRIMEZONE) -- Quaker Funds, Inc. is proud to announce today that its family of mutual funds has reached $1 billion in assets under management. This asset growth represents a 46% increase over assets under management as of December 31, 2004.
Quaker Funds, founded in 1996, was developed to provide access to entrepreneurial, institutional-quality money management in a mutual fund format. Since the firm's inception, Quaker Funds has grown to 10 mutual funds in four share classes, covering the spectrum of asset classes and investment styles.
"We are proud of reaching this milestone in our first decade of operations and are grateful to the many shareholders and financial intermediaries whose assets have been entrusted to us," says Jeffry King, founder and CEO of Quaker Funds, Inc. "This achievement is also a testament to the consistently strong performance delivered by our world class lineup of fund advisers."
Leading the fund family's rapid growth is the highly rated flagship Quaker Strategic Growth Fund, managed by Manu Daftary, CFA, of Boston-based DG Capital Management. Quaker Strategic Growth Fund, which was launched in November, 1996, recently eclipsed $800 million in assets under management. The fund has beaten its benchmark, the S&P 500 Index, over five years with an annualized return of 3.62% versus -1.49% for the benchmark (for Class A shares after sales charges.) Annualized returns for Class A shares of the Quaker Strategic Growth Fund after sales charges were 17.12% and 18.61% for one year and since inception, respectively.)
The $67 million Quaker Small Cap Value Fund, also launched November 1996 and managed by Ted Aronson of Aronson+Johnson+Ortiz since inception, has delivered a 5-year annualized return of 12.88% (for Class A shares after sales charges), versus a 6.45% return over the same period by its benchmark, the Russell 2000 Index. (Class A shares of the Quaker Small-Cap Value Fund after sales charges returned 13.79% and 13.28% for one year and since inception, respectively).
For more information, please visit www.quakerfunds.com
Performance data shown is as of 9/30/2005. Performance shown represents past performance. Past performance does not guarantee future results. The 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. Class A Shares of the Funds have a maximum sales charge of 5.50%. Performance reflects fee waivers and expense limitations in effect. Current performance may be lower or higher than the performance data quoted. For the Fund's most recent month-end standardized performance, visit our website, www.quakerfunds.com, or call us at 1-800-220-8888.
Mutual fund investing involves risks, including the possible loss of principal. Consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund and is available for download at www.quakerfunds.com or by calling 1-800-220-8888. Read the prospectus carefully before investing. The Quaker Funds are distributed by Citco Mutual Fund Distributors, Inc. (Member NASD).
About Quaker Funds
Quaker Funds, Inc., based in Malvern, Pa., has been providing investors with entrepreneurial, institutional advisers through mutual funds since 1996. As of November 25, 2005, Quaker Funds was comprised of ten mutual funds with assets under management of more than $1 billion. Quaker Funds, Inc. offers a diverse group of funds covering the full range of asset classes.