Investment Adviser: Saturna Capital
Saturna Capital Corporation, Bellingham, WA, is the investment adviser and administrator for the Sextant Funds. Saturna Capital Corporation's discount brokerage subsidiary, Saturna Brokerage Services, acts as distributor for Sextant.
Founded in 1989, Saturna Capital Corporation has more than $2 billion in assets under management and is also the adviser to Amana Mutual Funds Trust and to separately managed accounts.
The Sextant Funds employ a fulcrum advisory fee, which rewards or penalizes Saturna Capital for the Funds' investment performance. Each Fund pays Saturna Capital an Advisory and Administrative Services Fee (the "Base Fee") that covers administrative services such as portfolio management, financial reporting, and shareholder servicing.
For each month in which a Fund's total investment return for the one year period through that month outperforms or underperforms the total return of its specified Morningstar Category, the Base Fee is increased or decreased (see table below).
| Advisory Fee Structure | |||||
| Base Fee annual rate | Performance Adjustment annual rate | ||||
| <1% more or less than benchmark | 1-2% more or less than benchmark | 2-4% more or less than benchmark | >4% more or less than benchmark | ||
| Growth Fund, International Fund & Core Fund | 0.60% | 0.00% | +/- 0.10% | +/- 0.20% | +/- 0.30% |
| Bond Income Fund & Short-Term Bond Fund | 0.60% | 0.00% | +/- 0.10% | +/- 0.20% | +/- 0.20% |
A discussion regarding the basis for the board of trustees' renewal of the advisory contracts is available in the Funds' Annual Report every November.
Mr. Nicholas Kaiser, MBA, CFA, is chairman and controlling shareowner of Saturna Capital Corporation. Since 1990, Mr. Kaiser has been the person primarily responsible for the day-to-day management of the Sextant Funds. Mr. Kaiser has managed equity mutual funds since 1976.
