Walthausen & Co., LLC, is the investment advisor of the Funds and has responsibility for the management of the Funds’ affairs, under the supervision of the Funds’ Board of Trustees. Each Fund’s investment portfolio is managed on a day-to-day basis by Portfolio Manager, John B. Walthausen. Mr. Walthausen is the president of the Advisor and has managed the Funds since their inception. The Advisor was organized in 2007 and is located at 2691 Route 9 Malta, New York 12020.

Mr. Walthausen holds the Chartered Financial Analyst designation, and received a B.A. from Kenyon College and a MBA from New York University.  He joined Paradigm Capital Management on its founding in 1994 as a Portfolio Manager and was the lead manager of the Paradigm Value Fund from January 2003 until July 2007.  He oversaw approximately $1.3 billion in assets when he left Paradigm Capital Management to form Walthausen & Co., LLC.

The Fund’s Statement of Additional Information provides information about the portfolio managers’ compensation, other accounts managed by the portfolio managers, and the portfolio managers’ ownership of Fund shares.

Please see each Fund’s prospectus for information related to the Risks, Fees and Expenses by clicking here.