Value Trend Capital Management, LP, is the investment adviser of the Fund and has responsibility for the management of the Fund’s affairs, under the supervision of the Trust's Board of Trustees. The Fund's investment portfolio is managed on a day-to-day basis by Value Trend Capital Management, LP, under the general oversight of the Board of Trustees.
Value Trend Capital Management, LP, was organized in 1995 and has been managing investment accounts and money since that time. The address of the Adviser is 1939 Friendship Drive, Suite C, El Cajon, CA 92020. Jeffrey Provence is responsible for the day-to-day management of the Fund's portfolio. Mr. Provence has been portfolio manager at the Adviser since its inception in 1995. The General Partners of the Adviser are Ross C. Provence and Jeffrey Provence. Ross Provence is the President of the Trust. Jeffrey Provence is a Trustee and Officer to the Trust.
Under the Investment Advisory Agreement, the Adviser, at its own expense and without reimbursement from the Trust, furnishes office space and all necessary office facilities, equipment and executive personnel necessary for managing the Fund. Value Trend Capital Management also pays the salaries and fees of all officers and trustees of the Trust who are also officers, partners, or employees of Value Trend. Value Trend Capital Management pays all operating expenses of the Fund, with the exception of taxes, interest, borrowing expenses (such as (a) interest and (b) dividends on short sales), brokerage commissions and extraordinary expenses. For its services, the Adviser receives an annual investment management fee of 1.95% of the average daily net assets of the Fund.