Investment Strategy

The Fund invests primarily in common stocks and other equity securities of companies of all sizes, domestic and foreign, that are believed to have long-term growth potential.  Investment decisions made by the Fund are consistent with the social-witness principles of the General Assembly of the Presbyterian Church (U.S.A.).

Investment Concerns

Equity securities (stocks) are more volatile and carry more risk than other form of investments, including investment in high-grade fixed income securities.  The net asset value per share of the Fund will fluctuate as the value of the securities in the portfolio changes. Common stocks, and funds investing in commong stocks, generally provide greater return potential when compared with other types of investments.  Investments in foreign securities involve political, economic and currency risks, greater volatility and differences in accounting methods. The Funds may choose not to purchase, or may sell, otherwise profitable investments in companies which have been identified as being in conflict with its established social-witness principles. This means that the Funds may underperform other similar mutual funds that do not consider social-witness principles in their investing. Other principal risks associated with securities in the Growth Fund are the following: Interest Rate Risk, Credit Risk, Put and Call Option Risk, Foreign Securities Risk, Options and Futures Risk, Small Companies Risk and Emerging Markets Risk.  For a more complete description of these risks, please consult the Prospectus. Diversification does not assure a profit or protect against loss in a  declining market.