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American Pension Investors Trust – ‘497’ on 10/1/14

On:  Wednesday, 10/1/14, at 5:28pm ET   ·   Effective:  10/1/14   ·   Accession #:  1193125-14-361012   ·   File #:  2-96538

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

10/01/14  American Pension Investors Trust  497        10/01/14    1:150K                                   RR Donnelley/FAAPI Efficient Frontier Value Fund Class A Shares (ADVAX) — Class L Shares (YCVTX) — Institutional Class (APIVX)Yorktown Capital Appreciation Fund Class A Shares (APIGX) — Class L Shares (AFDDX) — Institutional Class Shares (AFAAX)Yorktown Growth Fund Class A Shares (AFGGX) — Class L Shares (APITX) — Institutional Class (APGRX)Yorktown Master Allocation Fund Class A Shares (APIFX) — Class L Shares (APILX) — Institutional Class (APMAX)Yorktown Multi-Sector Bond Fund Class A Shares (APIUX) — Class L Shares (AFFIX) — Institutional Class Shares (APIIX)Yorktown Short Term Bond Fund Class A Shares (APIMX) — Class L Shares (AFMMX) — Institutional Class (APIBX)

Definitive Material   —   Rule 497
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 497         Prospectus Supplement - American Pension Investors  HTML     62K 
                          Trust                                                  


This is an HTML Document rendered as filed.  [ Alternative Formats ]



  Prospectus Supplement - American Pension Investors Trust  

LOGO

SUPPLEMENT

Dated October 1, 2014

to the

PROSPECTUS OF THE

API FUNDS

DATED MAY 30, 2014

The Prospectus of the API Efficient Frontier Funds, dated May 30, 2014, is amended as follows:

The “Shareholder Fees” Table for each Fund has been amended to add a contingent deferred sales charge “CDSC” for Class A shares, and a footnote detailing the change, as follows:

API EFFICIENT FRONTIER GROWTH FUND

 

Shareholder Fees

(fees paid directly from your investment)

  

Class A

AFGGX

  

Class L

APITX

  

Institutional
Class

APGRX

       

Maximum sales charge (load) imposed on purchases

(as percentage of offering price)

   5.75%    None    None
       

Maximum deferred sales charges (load)

(as a percentage of the lesser of original purchase price or redemption proceeds)

   1.00%(1)    None    None
       

Maximum Account fee (for accounts under $500)

   $25/yr    $25/yr    $25/yr

 

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment.)

  

Class A

AFGGX

  

Class L

APITX

  

Institutional
Class

APGRX

Management Fee

   1.00%    1.00%    1.00%

Distribution/Service (12b-1 Fees)

   0.00%    1.00%    0.00%

Other Expenses

   0.45%    0.45%    0.45%

Acquired Fund Fees and Expenses

   0.03%    0.03%    0.03%

Total Annual Fund Operating Expenses (2)

   1.48%    2.48%    1.48%

 

(1)

Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.

(2)

Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.

 

 

 

 

1


API EFFICIENT FRONTIER CAPITAL INCOME FUND

 

Shareholder Fees

(fees paid directly from your investment)

  

    Class A    

APIGX

  

Class L

    AFDDX    

  

    Institutional    
Class

AFAAX

Maximum sales charge (load) imposed on purchases

(as percentage of offering price)

   5.75%    None    None

Maximum deferred sales charges (load)

(as a percentage of the lesser of original purchase price or redemption proceeds)

   1.00%(1)    None    None

Maximum Account fee (for accounts under $500)

   $25/yr    $25/yr    $25/yr
        

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment.)

  

Class A

APIGX

  

Class L

AFDDX

  

Institutional
Class

AFAAX

Management Fee

   0.60%    0.60%    0.60%

Distribution/Service (12b-1 Fees)

   0.50%    1.00%    0.00%

Other Expenses

   0.64%    0.64%    0.64%

Acquired Fund Fees and Expenses

   0.13%    0.13%    0.13%

Total Annual Fund Operating Expenses (2)

   1.87%    2.37%    1.37%

 

(1)

Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.

(2)

Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses.

 

 

 

API EFFICIENT FRONTIER CORE INCOME FUND (formerly the Multiple Index Fund)

 

Shareholder Fees

(fees paid directly from your investment)

  

    Class A    

APIMX

  

Class L

    AFMMX    

  

    Institutional    
Class

APIBX

       

Maximum sales charge (load) imposed on purchases

(as percentage of offering price)

   5.75%    None    None
       

Maximum deferred sales charge (load)

(as a percentage of the lesser of original purchase price or redemption proceeds)

   1.00%(1)    None    None
       

Maximum Account fee (for accounts under $500)

   $25/yr    $25/yr    $25/yr
        

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment.)

  

Class A

APIMX

  

Class L

AFMMX

  

Institutional
Class

APIBX

Management Fee

   0.70%    0.70%    0.70%

Distribution/Service (12b-1 Fees)

   0.00%    1.00%    0.00%

Other Expenses

   0.89%    0.89%    0.89%

Acquired Fund Fees and Expenses

   0.26%    0.26%    0.26%

Total Annual Fund Operating Expenses Before Fee Waivers

   1.85%    2.85%    1.85%

Fee Waivers

   (0.29)%    (0.29)%    (0.29)%

Total Annual Fund Operating Expenses (After Fee Waivers) (2)

   1.56%    2.56%    1.56%

 

(1)

Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.

(2)

Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.

 

 

 

 

2


API EFFICIENT FRONTIER VALUE FUND

 

Shareholder Fees

(fees paid directly from your investment)

  

Class A

    ADVAX    

  

Class L

    YCVTX    

  

    Institutional    
Class

APIVX

       

Maximum sales charge (load) imposed on purchases

(as percentage of offering price)

   5.75%    None    None
       

Maximum deferred sales charge (load)

(as a percentage of the lesser of original purchase price or redemption proceeds)

   1.00%(1)    None    None
       

Maximum Account fee (for accounts under $500)

   $25/yr    $25/yr    $25/yr
        

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment.)

  

Class A

    ADVAX    

  

Class L

    YCVTX    

  

    Institutional    
Class

APIVX

Management Fee

   0.90%    0.90%    0.90%

Distribution/Service (12b-1 Fees)

   0.00%    0.90%    0.00%

Other Expenses

   0.68%    0.68%    0.68%

Acquired Fund Fees and Expenses

   0.04%    0.04%    0.04%

Total Annual Fund Operating Expenses (2)

   1.62%    2.52%    1.62%

 

(1)

Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.

(2)

Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.

 

 

 

API EFFICIENT FRONTIER INCOME FUND

 

Shareholder Fees

(fees paid directly from your investment)

  

Class A

    APIUX    

  

Class L

    AFFIX    

  

    Institutional    
Class

APIIX

       

Maximum sales charge (load) imposed on purchases

(as percentage of offering price)

   5.75%    None    None
       

Maximum deferred sales charge (load)

(as a percentage of the lesser of original purchase price or redemption proceeds)

   1.00%(1)    None    None
       

Maximum Account fee (for accounts under $500)

   $25/yr    $25/yr    $25/yr
        

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment.)

  

Class A

APIUX

  

Class L

AFFIX

  

Institutional
Class

APIIX

Management Fee

   0.40%    0.40%    0.40%

Distribution/Service (12b-1 Fees)

   0.50%    1.00%    0.00%

Other Expenses

   0.22%    0.22%    0.22%

Acquired Fund Fees and Expenses

   0.86%    0.86%    0.86%

Total Annual Fund Operating Expenses (2)

   1.98%    2.48%    1.48%

 

(1)

Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.

(2)

Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.

 

 

 

 

3


API MASTER ALLOCATION FUND

 

Shareholder Fees

(fees paid directly from your investment)

  

Class A

APIFX

  

Class L

APILX

  

Institutional
Class

APMAX

       

Maximum sales charge (load) imposed on purchases

(as percentage of offering price)

   5.75%    None    None
       

Maximum deferred sales charge (load)

(as a percentage of the lesser of original purchase price or redemption proceeds)

   1.00%(1)    None    None
       

Maximum Account fee (for accounts under $500)

   $25/yr    $25/yr    $25/yr

 

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment.)

  

Class A

APIFX

  

Class L

APILX

  

Institutional
Class

APMAX

Management Fee

   0.30%    0.30%    0.30%

Distribution/Service (12b-1 Fees)

   0.50%    1.00%    0.00%

Other Expenses

   0.43%    0.43%    0.43%

Acquired Fund Fees and Expenses

   1.40%    1.40%    1.40%

Total Annual Fund Operating Expenses (2)

   2.63%    3.13%    2.13%

 

(1)

Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.

(2)

Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.

 

 

 

The Following Section of the Prospectus has been amended to add sales charges for large purchases of Class A shares (greater than $1 million) and to add disclosure relating to CDSC fees applicable to such purchases.

Section 4 | How You Can Buy and Sell Shares

Sales Charges — Class A Shares

Class A Shares of the Funds are sold at the offering price, which is the net asset value plus an initial maximum sales charge as described below:

 

     Sales Charge as a % of       

Investment

 

  

Offering Price

 

  

Net Amount Invested

 

    

Dealer Commission as a %
of offering price

 

Less than $25,000

   5.75%    6.10%      5.00%

$25,000 but less than $50,000

   5.00%    5.26%      4.25%

$50,000 but less than $100,000

   4.50%    4.71%      3.75%

$100,000 but less than $250,000

   3.50%    3.63%      2.75%

$250,000 but less than $500,000

   2.50%    2.56%      2.00%

$500,000 but less than $750,000

   2.00%    2.04%      1.60%

$750,000 but less than $1 million

   1.50%    1.53%      1.20%

$1 million or more

  

None

  

None

    

None

The Funds reserve the right to waive the sales charge on certain Class A Shares in order to qualify the Funds for inclusion in brokerage platforms, wrap programs and fund supermarkets. The Board has approved this waiver.

 

4


No sales charge is imposed on Class A Shares received from reinvestment of dividends or capital gain dividends, or purchased by persons repurchasing shares they redeemed within the last 180 days (see “Repurchase of Class A Shares” below).

NOTE: Prior to May 30, 2012, the Capital Income Fund offered Class D shares (ticker symbol APIGX) on a restricted basis. As of May 30, 2012, Class D shares of the Capital Income Fund were converted to Class A shares and made available to new shareholders on an unrestricted basis. New purchasers of Class A shares of the Capital Income Fund after May 30, 2012 are subject to the front-end sales charges set forth above. However, shareholders of the Capital Income Fund that owned Class D shares prior to the conversion will be allowed to purchase additional Class A shares for their existing account(s) without the imposition of a front-end sales charge.

Finders Fee

The Distributor, from its own resources and not as a sales load deducted from the value of the shares purchased, may pay authorized dealers a commission advance on purchases of Class A shares over $1 million calculated as follows:

 

$1 million but less than $5 million      1.00
$5 million but less than $50 million      0.50
Greater than $50 million      0.25

Contingent Deferred Sales Charge (“CDSC”)

For large purchases of Class A shares (greater than $1 million) where a commission advance has been paid to the selling dealer, a CDSC of 1.00% will be charged to the shares if they are redeemed during the first 12 months after purchase. The CDSC generally applicable to redemptions of large-scale purchases of Class A shares made within 12 months after purchase will not be imposed on redemptions of shares purchased through an omnibus account with certain financial intermediaries, such as a bank or other financial institution, where no sales charge payments were advanced for purchases made through these entities.

ALL SECTIONS OF THE PROSPECTUS NOT SPECIFICALLY ADDRESSED IN THIS SUPPLEMENT SHALL REMAIN IN FULL FORCE AND EFFECT.

 

5


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘497’ Filing    Date    Other Filings
Filed on / Effective on:10/1/14
5/30/14485BPOS
5/30/12485BPOS
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