UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No )
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DREXEL HAMILTON MUTUAL FUNDS
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
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MUTUAL FUND
PROXY FACT SHEET FOR:
DREXEL HAMILTON MUTUAL FUNDS DREXEL HAMILTON CENTRE AMERICAN EQUITY FUND |
SPECIAL MEETING IMPORTANT DATES | SPECIAL MEETING LOCATION | |||||||
Record Date | SEPTEMBER 25, 2013 | OFFICES OF SEWARD & KISSEL LLP | ||||||
Mail Date | OCTOBER 2, 2013 | ONE BATTERY PARK PLAZA, GROUND FLOOR | ||||||
Meeting Date | OCTOBER 31, 2013 @ 11:00AM | NEW YORK, NEW YORK 10004 |
ADDITIONAL INFORMATION | CONTACT INFORMATION | |||||||
Ticker Symbol | DHAMX | Inbound Line | 1-866-864-7964 | |||||
Cusip Number | 261782106 | Website | www.dhipfunds.com |
AST Fund Solutions is mentioned on Page 11 of the Proxy Statement. |
What are shareholders being asked to vote on?
1. | To approve a new investment advisory agreement between Drexel Hamilton Mutual Funds, on behalf of Drexel Hamilton Centre American Equity Fund and Centre Asset Management, LLC (the “Proposal”) |
BOARDS OF TRUSTEES RECOMMENDATION – FOR
PROPOSAL : To approve a new investment advisory agreement between Drexel Hamilton Mutual Funds, on behalf of Drexel Hamilton Centre American Equity Fund and Centre Asset Management, LLC (the “Proposal”)
Why are shareholders being asked to vote on the new Investment Advisory Agreement?
The owners of Drexel Hamilton Investment Partners, LLC, (“DHIP”) the Funds’ previous investment adviser, recently sold their interests in Drexel Hamilton Investment Partners, LLC to Centre Asset Management, LLC (“Centre”). Under the Investment Company Act of 1940 these transactions resulted in a change of control of Drexel Hamilton Investment Partners, LLC, an assignment of the previous investment advisory agreement between Drexel Hamilton Investment Partners, LLC and each Drexel Hamilton Mutual Fund, on behalf of the Funds, and the automatic termination of that agreement. Under the new investment advisory agreements, if approved, Centre will serve as the investment adviser to the Funds.
Who currently serves as investment adviser to the Funds?
Centre currently serves as the investment adviser of the Fund pursuant to an interim investment advisory agreement approved by the Board of Trustees. The Board believes that engaging Centre to serve as investment adviser will maintain stability and continuity for the Fund. Furthermore, James Abate, Managing Director and Chief Investment Officer of Centre, serves as portfolio manager of the Fund currently and is a Trustee of the Trust.
For Internal Distribution Only | Page 1 |
Will the investment advisory fee increase as a result of the new agreement?
No. The Fund’s investment advisory fee under the new investment advisory agreement will remain the same as the investment advisory fee under the Fund’s previous investment advisory agreement with Drexel Hamilton Investment Partners, LLC.
How will the new investment advisory agreement affect the Fund’s shareholders?
The new investment advisory agreement should have very little effect on shareholders of the Fund. If it takes effect, the new investment advisory agreement would not result in changes to a Fund’s investment objectives or principal investment strategies, and would not cause any increase in the Fund’s investment advisory fee rate. In addition, Centre has agreed to continue the current expense limitation agreement that limits annual Fund expenses.
If approved by shareholders, how long will the new agreement remain in effect?
The new investment advisory agreement would become effective upon shareholder approval, would have an initial term of no more than two (2) years, and thereafter would be subject to annual approval by the Board of Trustees, including a majority of the Independent Trustees
Who is Centre?
Centre has served as sub-adviser to Fund since its inception. Centre, a New York limited liability company, with principal offices at 48 Wall Street, Suite 1100, New York, New York 10005, is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. Centre is a fundamentally-driven active asset manager formed in late 2005. Centre had approximately $746 million in assets under management as of June 30, 2013, and offers investment advisory services to U.S. and foreign investment companies and other funds.
THE BOARD OF TRUSTEES RECOMMENDS A VOTE “FOR” THE PROPOSAL
VOTING METHODS |
PHONE: | To cast your vote by telephone with a proxy specialist, call the toll-free numberfound on your proxy card. Representatives are available to take your voting instructions Monday through Friday 9:00 a.m. to 10:00 p.m. Eastern Time. | |
MAIL: | To vote your proxy by mail, check the appropriate voting box on the proxy card, sign and date the card and return it in the enclosed postage-paid envelope. | |
TOUCH-TONE: | To cast your vote via atouch-tone voting line, call the toll-free number and enter thecontrol number found on your proxy card. | |
INTERNET: | To vote via the Internet, go to the website on your proxy card and enter thecontrol numberfound on the proxy card. |
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For Internal Distribution Only | Page 2 |
The proxy statement is available online at:www.proxyonline.com/docs/dhamx.pdf
For Internal Distribution Only | Page 3 |