Shelton Core Value Fund
Supplement dated
Prospectus and Statement of Additional Information,
each dated
Effective May 19, 2021, Shelton Core Value Fund has been renamed Shelton Equity Income Fund, and all references to the Fund in the Prospectus and Statement of Additional Information are hereby changed accordingly.
The Prospectus is revised as follows:
The first paragraph of the Fund’s “Principal Investment Strategies” section of the Prospectus is deleted in its entirety and replaced with the following:
“Shelton Equity Income Fund seeks a high level of current income by investing primarily in income-producing equity securities. The Fund will also consider the potential for price appreciation when consistent with seeking current income. In order to meet its investment objectives, the Fund invests primarily in U.S. equity securities that generate a relatively high level of dividend income (relative to other equities in the same industry) and have the potential for capital appreciation. These securities will generally be stocks of medium and large U.S. corporations. It is the Fund’s policy that, under normal market conditions, it will invest at least 80% of its total assets (which includes the amount of any borrowings for investment purposes) in common stocks. This policy may not be changed unless Fund shareholders are given at least 60 days prior notice. Shelton Capital Management, the investment advisor to the Fund “Shelton”, seeks to purchase equity securities for the Fund’s portfolio consistent with the Fund’s investment objective, such as when Shelton Capital Management believes such securities have income producing potential, a potential for capital appreciation or value potential.”
The second paragraph of the “Investment Objectives and Principal Strategies - Shelton Core Value Fund” section of the Prospectus is deleted in its entirety and replaced with the following:
“Shelton Equity Income Fund seeks a high level of current income by investing primarily in income-producing equity securities. As a secondary objective, the Fund will also consider the potential for price appreciation when consistent with seeking current income. In order to meet its investment objectives, the Fund invests primarily in U.S. equity securities which generate a relatively high level of dividend income (relative to other equities in the same industry) and have the potential for capital appreciation. These securities will generally be stocks of medium and large U.S. corporations. It is the Fund’s policy that under normal market conditions it will invest at least 80% of its total assets (which includes the amount of any borrowings for investment purposes) in common stocks. This policy may not be changed unless Fund shareholders are given at least 60 days prior notice. Shelton Capital Management, the investment advisor to the Fund, seeks to purchase equity securities for the Fund’s portfolio consistent with the Fund’s investment objective, such as when Shelton Capital Management believes such securities have income producing potential, a potential for capital appreciation or value potential.”
Please retain this supplement with your Prospectus.