It’s about how, not where, people spend money, says fund manager Tom Plumb. Tom is fascinated by the digitization of payment systems across the globe. The Plumb Balanced Fund is unusual in that the stock portion consists of growth-style stocks.That helps to explain how the mutual fund has fared.

Opinions expressed are those of the author or Plumb Funds and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. References to other mutual funds should not be interpreted as an offer of these securities.

PLBBX Expense Ratio: Gross 1.61%; Net 1.19%

PLBEX Expense Ratio: Gross 1.72%; Net 1.19%

The advisor has contractually agreed to waive fees through 7/31/2018. Investment performance reflects fee waivers. In the absence of these waivers, returns would be reduced.

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Performance data quoted represents past performance and 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. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-866-987-7888 or visiting www.plumbfunds.com.

Click here for holdings and most recent quarter-end performance for the Plumb Equity Fund.

Click here for holdings and most recent quarter-end performance for the Plumb Balanced Fund.

See our Morningstar ratings Plumb Equity Fund.  Plumb Balanced Fund

Fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security.

Earnings growth is not a measure of the Fund’s future performance.

Price-earnings ratio – PE – a common tool for comparing the prices of different common stocks and is calculated by dividing the current market prices of a stock by the earnings per share. The P/E ratio is not a measure of future performance or growth.

Price-to-book ratio (P/B Ratio) is a ratio used to compare a stock’s market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter’s book value per share. Also known as the “price-equity ratio”.

Price–sales ratio, P/S ratio, or PSR, is a valuation metric for stocks. It is calculated by dividing the company’s market cap by the revenue in the most recent year; or, equivalently, divide the per-share stock price by the per-share revenue.

Correlation measures the relationship between the changes of two or more financial variables over time. For example, the prices of equity stocks and fixed interest bonds often move in opposite directions: when investors sell stocks, they often use the proceeds to buy bonds and vice versa.

S&P 500 Index – an unmanaged index widely regarded as the standard for measuring large-cap U.S. stock market performance.

It is not possible to invest directly in an index.