MALVERN, Pa., May 4, 2005 (PRIMEZONE) -- Effective May 4, 2005, Global Capital Management, Inc. (GCM) has assumed the role of sub-adviser to the Quaker Mid-Cap Value Fund replacing Schneider Capital Management upon receiving shareholder approval yesterday. Schneider Capital cited its plans to focus on its institutional business as its reason for stepping down.
GCM is an Independent - Employee-owned Investment Advisor located in Conshohocken, PA, specializing in the management of Mid and Small Cap U.S. Equities. Firm President and CIO, Anthony Soslow stated "We are very pleased to offer Investors access to our Mid Cap strategy through the Quaker Family of Funds. We believe Quaker has a unique offering of funds and has positioned itself for strong long-term growth as Advisors search for quality institutional managers in a conflict free mutual fund solution."
GCM leverages the expertise of the firm's investment professionals in security selection, portfolio construction and practical risk management to develop a continually scrutinized portfolio of Mid and Small Cap stocks. As of March 31, 2005, GCM had AUM of $250 Million.
The Quaker Mid-Cap Value Fund commenced operations in December 1997 and currently has more than $67 million in assets under management across 4 share classes as of March 31, 2005.
"We are excited to add GCM to our sub-adviser line up," states Jeffry H. King, Sr., chairman of Quaker Funds, Inc. "Their mission is consistent with our own commitment to deliver institutional-quality, entrepreneurial investment management to mutual fund investors. We look forward to working with GCM in a seamless transition and anticipate continued excellent risk-adjusted performance. We want to express our gratitude to Arnie Schneider and his staff for their years of service to our investors and wish them continued success."
About the Quaker Funds
The Quaker Funds, Inc. (QFI), based in Malvern, Pa., has been providing investors with entrepreneurial, institutional advisors through mutual funds since 1996. As of March 31, 2005, the Quaker Funds were comprised of eleven mutual funds with assets under management of more than $750 million. QFI offers a diverse group of funds covering the range of growth and value equity, fixed income and money market asset classes.
An investment in a money market mutual fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Funds seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. Money market yields may vary.
The Quaker Funds are distributed by Citco Mutual Fund Distributors, Inc., an NASD member. For more information regarding the Quaker Funds, call the Fund at 1-800-220-8888 to request a current prospectus by mail, or visit them on the web at www.quakerfunds.com to download a copy. The Fund Prospectus includes a complete discussion of investment objectives, risks, charges and expenses. The Prospectus contains this and other information about the Fund and should be read and considered carefully before investing or sending money.