Before you invest in the Waycross Long/Short Equity Fund, please refer to the prospectus for important information about the investment company, including investment objectives, risks, charges and expenses. You may also obtain a hard copy of the prospectus by calling (866) 267-4304. The prospectus should be read carefully before you invest or send money.

The Fund is offered only to United States residents, and the information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of any fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

The Waycross Long/Short Equity Fund is distributed by Ultimus Fund Distributors, LLC.

Mutual fund investing involves risk. Principal loss is possible. 

  • S&P 500* +6.5% for the Fourth Quarter 2017

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  • Best Performing Sectors: Consumer Discretionary and Technology

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  • Worst Performing Sectors:  Utilities

MARKET HIGHLIGHTS.

The S&P 500 advanced again in December making 2017 a year for the record books, as every month produced a positive return. The index gained 6.5% in the fourth quarter and 21.8% for the full year. In the 90-year history of the S&P 500 Index, it has never produced an unbroken string of positive monthly returns for a calendar year. There were several factors that could be identified as the reasons for the market strength, but the Tax Reform package passed by Congress and signed into law in late December was certainly a major contributor to the continuing market momentum through December. 

Performance varied across economic sectors as macro-economic factors influenced companies differently. Consumer Discretionary stocks finished the quarter strongest, up 9.9% in 4Q17, while Technology stocks provided the highest returns for the year, up a total of 38.8% in 2017. The list of positive economic developments during 2017 are likely to continue to propel the stock market through at least the early months of 2018. Low interest rates, low unemployment, and high consumer confidence are a powerful economic trio that won’t be easily reversed. There is always the possibility of a geopolitical event or a major central bank policy mistake changing the narrative, but those are hard to predict.

The last bull market peak was in October of 2007, after a 5-year run. This bull market started in March 2009 and is now 106 months old, but there is no evidence that bull markets die of old age. In the past, one of the most reliable indicators that the bull market is about to end has been the relationship between the 10 years and the 2 year maturity Treasury Yields. There is normally a positive spread, but should this narrow too much or turn negative, then investors will likely view that as a sign the investment world is about to change.

As of December 31, 2017

Market Commentary

WAYEX


Waycross Long/Short Equity Fund



Adviser to the Fund:


Waycross Partners, LLC
4965 U.S. Highway 42, Suite 2900
Louisville, Kentucky  40222
waycrossfunds@waycrosspartners.com

Shareholder Services:


(866) 267-4304

*The S&P 500 Index is the Standard & Poor's composite index of 500 stocks, a widely recognized, unmanaged index of common stock prices.  An investor may not invest directly in an index.