Fund Literature:

• Fact Sheet
• Prospectus
• Annual Report
• Semi-Annual Report
• Statement of Additional Information

Important Information About Sextant International Fund:

• Disclosure of Portfolio Holdings
• Form N-Q
• Month-end Portfolio Schedule
• Proxy Voting Guidelines
• Form N-PX
• Renewal of Investment Advisory Contract
• Board Governance Policies
• Business Continuity Plan Summary

Sextant International Fund (SSIFX): Objectives, Strategies & Risks

Investment Objective

Long-term capital growth.

Principal Investment Strategies

The International Fund diversifies its investments among many countries, favoring those with mature markets (such as Europe and Canada). The Fund invests at least 65% of its assets in securities traded in or outside the U.S. The International Fund diversifies its investments across industries and companies, and generally follows a value investment style. The Fund favors companies trading for less than the adviser's assessment of intrinsic value, which typically means companies with low price/earning multiples, low price to cash flow, and higher dividend yields.

Principal Risks of Investing

The International Fund involves risks not typically associated with investing in U.S. securities. These include fluctuations in currency exchange rates, less public information about securities, less governmental market supervision, and lack of uniform financial, social, and political standards. Foreign countries have risk of confiscatory taxation, seizure, or nationalization of assets, establishment of exchange controls, adoption of government restrictions, or adverse political or social developments that affect investments.

Portfolio Managers

Portfolio Manager since 1995: Nicholas Kaiser