Prospectus Statement of Additional Information
Annual Report Semi-Annual ReportAccount Forms
Manage Your Account Open an AccountInvestors should consider the investment objectives, risks, and charges and expenses of The BeeHive Fund carefully before investing. The prospectus of The BeeHive Fund may be obtained by clicking on “Prospectus” here or above, or by telephoning 866.684.4915 (toll free). They contain this and other information about The BeeHive Fund. Investors should read the prospectus carefully before investing.
| Returns as of March 31, 2019 | |
|---|---|
| 2019 year to date | 17.02% |
| Trailing 12 months | 7.12% |
| 5 Year | 5.39% |
| 10 Year | 12.01% |
| Annualized since inception (9/2/08): | 7.46% |
The performance data quoted represent past performance. Past performance does not guarantee future results. The investment return and principal value of an investment in The BeeHive Fund will fluctuate so that the shares in The BeeHive Fund owned by an investor, when redeemed, may be worth more or less than their original cost. The current performance of The BeeHive Fund may be lower or higher than the performances data quoted. Investors who would like to obtain performance data for The BeeHive Fund that is current to the most recent month-end should call 866.684.4915 (toll free). Click here to review important expense and fee information about the Fund.
| Distributions per share | |||
|---|---|---|---|
| Capital Gains | |||
| Dividends | Short-term | Long-term | |
| 2008 | $0.0146 | None | None |
| 2009 | $0.0402 | None | None |
| 2010 | $0.0391 | None | $0.2111 |
| 2011 | $0.0166 | None | $0.2023 |
| 2012 | $0.0673 | None | $0.662 |
| 2013 | $0.04947 | None | $0.7595 |
| 2014 | $0.06858 | None | $0.6171 |
| 2015 | $0.08082 | None | $0.2084 |
| 2016 | $0.13402 | None | $0.0802 |
| 2017 | $0.09302 | $0.0014 | $0.5162 |
| 2018 | $0.13184 | None | $0.3357 |
As of March 31, 2019
| Security Description | Percentage of Market Value |
|---|---|
| MICROSOFT CORP. | 7.26 |
| THERMO FISHER SCIENTIFIC, INC. | 6.42 |
| DANAHER CORP. | 6.36 |
| ORACLE CORP. | 4.67 |
| APPLE, INC. | 4.42 |
| BALL CORP. | 4.36 |
| CHUBB, LTD. | 4.29 |
| NESTLE SA, ADR | 3.93 |
| AMERICAN INTERNATIONAL GROUP, INC. | 3.76 |
| CIT GROUP, INC. | 3.45 |
* Holdings are subject to change
| Shareholder Fees (fees paid directly from your investment) | |
|---|---|
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price) | None |
| Maximum Deferred Sales Charge (Load) (as a percentage of the offering price) | None |
| Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Distributions (as a percentage of the offering price) | None |
| Redemption Fee (as a percentage of amount redeemed, if applicable) | None |
| Annual Fund Operating Expenses (expenses that you pay each year as a percentage value of your investment) | |
|---|---|
| Management Fees | 0.75% |
| Distribution and/or Service (12b-1) Fees | 0.00% |
| Other Expenses | 0.24% |
| Acquired Fund Fees and Expenses | 0.01% |
| Total Annual Fund Operating Expenses | 1.00% |
| Fee Waiver and/or Expense Reimbursement | 0.01% |
| Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement¹ | 0.99% |
¹Spears Abacus Advisors LLC (the “Advisor”) has contractually agreed to waive its fee and/or reimburse Fund expenses to limit Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding taxes, interest, portfolio transaction expenses and extraordinary expenses) to 0.99% through April 30, 2020 (the “Expense Cap”). The Expense Cap may only be raised or eliminated with the consent of the Board of Trustees. The Advisor may be reimbursed by the Fund for fees waived and expenses reimbursed by the Advisor pursuant to the Expense Cap if such payment is made within three years of the fee waiver or expense reimbursement and does not cause the Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement (excluding taxes, interest, portfolio transaction expenses and extraordinary expenses of the Fund) to exceed the lesser of (i) the then-current expense cap and (ii) the expense cap in place at the time the fees/expenses were waived/reimbursed.
The Huntington National Bank
Westerville, OH
ABA 044000024
For Credit To:
Atlantic Shareholder Services, LLC
FBO Forum Funds
Account # 01892542416
The BeeHive Fund
(Name)
(Fund Account Number)
Chairman, CEO and co-founder of Spears Abacus, Bill is a portfolio manager and has long experience serving as trusted advisor to clients and managing portfolios over multiple market cycles.
Bill began his career at Loeb, Rhoades & Company in 1962 and was named a General Partner in 1970. In 1972, Bill founded Spears, Benzak, Salomon & Farrell. After SBSF was purchased by KeyCorp, Bill became Chairman of KeyCorp Asset Management. In 1999, Bill founded Spears, Grisanti & Brown, where he served as a portfolio manager of the SteepleView Fund and various client portfolios from 1999 to 2007.
Bill received a BA degree from Princeton University in 1960 and an MBA from Harvard Business School in 1962 and is a CFA charterholder.
Rob co-founded Spears Abacus in 2007. He serves as President and functions as a portfolio manager, analyst and client advisor. In addition to portfolio management, he has extensive experience in tax strategy, corporate finance, trust and estate administration and financial planning.
Rob began his career at Price Waterhouse LLP. He continued his practice in accounting as a Principal at Raich, Ende, Malter LLP from 1998 to 2000. Rob joined Abacus & Associates Inc. in 2001 and was named President and Chief Investment Officer in 2002.
Rob received a BS in Accountancy from Arizona State University in 1992 and an MBA from Columbia Business School in 1998.
Jeb is an original member of the Spears Abacus team and a Principal in the firm. He is a portfolio manager, equity analyst and a member of our Investment Committee. While Jeb’s primary focus is organizing our equity research efforts he is also a significant contributor to our corporate credit research. He became a CFA charterholder in 2009.
Jeb received a BA from Kenyon College in 2004.
Paul joined Spears Abacus as a Principal, portfolio manager and equity analyst in 2009. He has spent his entire career in the investment management business and has managed client portfolios since 1977. Paul’s long experience and growth-oriented perspective add depth to our team.
Paul began his career in 1972 as an analyst in the Investment Services Department of Goldman Sachs & Company. In 1977, the business was reorganized as an affiliate of Goldman Sachs called McCowan Associates. Paul was promoted to Partner and subsequently worked for the new entity as a portfolio manager and analyst for over 20 years. In 2002, after four years as a Partner with Eagle Growth Investors, Paul joined MB Investment Partners as lead manager of the firm’s Growth Equity Strategy.
Paul received a BA degree from the University of Washington in 1972 and a MBA from New York University Stern School of Business in 1975.
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In the mid-19th century, Emanuel Nusbaum founded the Bee Hive store in Plattsburgh, New York. The Bee Hive was an early incarnation of the modern-day department store, offering myriad items under one roof at competitive prices. After learning the retailing business from his father, Emanuel’s son Aaron earned substantial capital in Chicago by selling his one-third interest in Sears, Roebuck & Co. in 1901. Thereafter, Aaron Nusbaum’s investing goals were to increase his fortune and to preserve it for the benefit of his descendants. Nusbaum developed an investment philosophy that was refined over time as the family multiplied and its capital grew. Nusbaum’s investment office, now named Abacus & Associates Inc., endures today, managing wealth for Nusbaum’s descendants.
The BeeHive Fund is advised by Spears Abacus Advisors LLC, a collaboration between William G. Spears, Abacus & Associates Inc. and a new generation of investment professionals. Mr. Spears’ relationship with Abacus dates back to 1968 when he and Abacus chairman, Frank A. Weil, were partners at Loeb Rhoades & Company. Since then Messrs. Spears and Weil remained close friends and business associates. In 2007, Mr. Spears formally partnered with Mr. Weil and Abacus president, Robert Raich, to found Spears Abacus.
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The Huntington National Bank
Westerville, OH
ABA 044000024
For Credit To:
Atlantic Shareholder Services, LLC
FBO Forum Funds
Account # 01892542416
The BeeHive Fund
(Name)
(Fund Account Number)
Address:
The BeeHive Fund
P.O. Box 588
Portland, Maine 04112
More information:
p: 866.684.4915
f: 207.347.2195
e: info@thebeehivefund.com