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Tuesday, April 17, 2007

Two Catholic Funds Become One

News summary by MFWire's editors

Schwartz Investment Counsel has decided to merge its Catholic Equity Fund into its Ave Maria Rising Dividend Fund. With the completion of this merger, total net assets in the Ave Maria Mutual Funds now exceed $500 million. Both funds share the same values of morally responsible investing. -ed.


Schwartz Investment Counsel, Inc., the investment adviser to the Ave Maria Mutual Funds has completed the previously announced merger of The Catholic Equity Fund into the Ave Maria Rising Dividend Fund (Ticker: AVEDX).

Richard L. Platte, Jr., CFA, portfolio manager of the Ave Maria Rising Dividend Fund said, “We are glad to have the former Catholic Equity Fund shareholders as part of the Ave Maria Mutual Funds family.” George P. Schwartz, CFA, President of the Ave Maria Mutual Funds said, “This will be a great opportunity for the former Catholic Equity Fund shareholders to build diversified portfolios across different asset classes within our no-load family of morally responsible funds.”

With the completion of this merger, total net assets in the Ave Maria Mutual Funds now exceed $500 million.

About Ave Maria Mutual Funds: Ave Maria Mutual Funds is the country’s largest family of Catholic mutual funds, designed specifically for investors looking for financially sound investments in companies that do not violate core values and teachings of the Catholic Church. They began operations with the inception of the Ave Maria Catholic Values Fund (Ticker: AVEMX) on May 1, 2001. Four additional mutual funds were added over the next five years. As of March 31, 2007, net assets of the Ave Maria Mutual Funds totaled over $520 million. Ave Maria Mutual Funds place equal emphasis on investment performance and moral criteria in selecting securities.

About Schwartz Investment Counsel, Inc.: Schwartz Investment Counsel, Inc. serves as Investment Adviser to the Ave Maria Mutual Funds. A Registered Investment Adviser (RIA) established in 1980, Schwartz Investment Counsel, Inc. is committed to providing high quality investment counsel to families and fiduciaries that choose to take a disciplined approach to investing. Through rapidly changing economic and market conditions, Schwartz Investment Counsel, Inc. provides continuity and stability to investment portfolios through fundamental security analysis and a basic value orientation.  

Edited by: Erin Kello


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