Estimated Capital Gain Distributions as of November 11, 2019 Share Price

Walthausen & Co., LLC is pleased to provide you with this estimate of capital gains distributions for the Walthausen Small Cap Value Fund and the Walthausen Select Value Fund. We are providing you with this estimated information to assist you with your tax planning.

The information in the table below is preliminary and subject to change.

Fund NamePer share short-term capital gains rangePer share long-term capital gains rangeEstimated Record DateEstimated Pay Date
Walthausen Small Cap Value Fund
(WFICX, WSCVX)
$0.00 - $0.00$0.36 - $0.4912/19/201912/20/2019
Walthausen Select Value Fund
(WSVIX, WSVRX, WRSIX)
$0.02 - $0.03$0.56 - $0.7512/19/201912/20/2019

These estimates are preliminary as of November 11, 2019 and are subject to change. Equity market conditions, changes to the portfolio (buys and sells of securities, for example), and changes in the number of outstanding fund shares may have a material impact on these estimates.

The Funds

As of 12/06/2019

  • Small Cap Value Fund Investor Class

    WSCVX

  • Small Cap Value Fund Institutional Class

    WFICX

  • Select Value Fund Institutional Class

    WSVIX

  • Select Value Fund Retail Class

    WSVRX

  • Select Value Fund R6 Class

    WRSIX

    • WSCVX
    • NAV $19.89
    • Gross Expense Ratio 1.27%
    • Net Expense Ratio 1.22%
    • CUSIP 933310104
    • Fund Documents
    • WFICX
    • NAV $19.92
    • Gross Expense Ratio 1.27%
    • Net Expense Ratio 0.99%
    • CUSIP 933310500
    • Fund Documents
    • WSVIX
    • NAV $12.55
    • Gross Expense Ratio 1.36%
    • Net Expense Ratio 1.11%
    • CUSIP 933310203
    • Fund Documents
    • WRSIX
    • NAV $12.67
    • Gross Expense Ratio 1.36%
    • Net Expense Ratio 0.99%
    • CUSIP 933310401
    • Fund Documents

Investors should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. You may obtain a prospectus on this website or by calling the transfer agent at 1-888-925-8428. The prospectus should be read carefully before investing. Distributed by Rafferty Capital Markets, LLC