Reply To: Oct. Newsletter

[USPFA Team]

Good morning Jason -

Sorry for the delay in getting back to you. The suggested trade was announced in the September newsletter and was just sold at this month when the holding period was over.

Although we generally stay away from recommending funds that have a holding period with early redemption fees, when those funds are trending as the market leaders we evaluate each instance for the potential benefit. In this instance, the outlook for gains was greater than the possible need to get out of the fund early and only lose the 1% redemption fee.

Regards