PFS Funds to launch Outfitter Fund Feb. 1; Peress to manage portfolio

By Toni Weeks

San Diego, Jan. 30 - PFS Funds announced it will launch its Outfitter Fund on Feb. 1, according to an N-1A filing in the Securities and Exchange Commission.

The fund will seek long-term capital appreciation, with investment income as a secondary objective. Under normal market conditions, the fund will invest primarily in domestic and international common stocks of large-, mid- and small-capitalization companies, corporate bonds and governmental bonds. The fund may invest in exchange-traded funds, and it may invest up to 35% of total assets in foreign securities including American Depositary Receipts.

The portfolio manager will be Benjamin Peress, president of McLean, Va.-based Outfitter Financial Corp., the fund's investment adviser. Peress began his career as a securities analyst 25 years ago and has been a portfolio manager since 1991.

The fund will not impose a sales charge, but shares sold or redeemed during the first 90 days after issue will incur a redemption fee of 2%. Management fees will be 0.95%. Including these, total annual fund operating expenses are expected to be 1.21%.

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