NAA SMid Cap Value Fund 

Typically, this fund allocates at least 80% of its total assets to equity securities from small and mid-sized companies. The investment advisor specifically seeks out businesses deemed to possess "value" attributes, defining such opportunities as investments trading below their perceived intrinsic worth when measured against their assets, earnings, future growth potential, or cash generation. The portfolio is primarily comprised of various equity instruments, including common stocks, Real Estate Investment Trusts (REITs), options, warrants, and convertible securities. These investments may originate from U.S. entities or foreign issuers whose securities are denominated in U.S. dollars, and also include American Depositary Receipts (ADRs).