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Dear Fintax Investor,

Please find attached October’s fund fact sheets along with the MGIM commentary.

For the month of October, both funds protected capital. During a month where global equities declined by 2.4%, the Growth Fund declined by 0.2% and the Balanced Fund declined by 0.3%. Thus far, November has delivered a sharp rise in global equity markets, of which the Fintax Funds have meaningfully participated.

One of the managers in the Fintax Funds that has significantly outperformed the global equity market is Sands Capital. The Fintax Funds hold both the Sands Capital Global Growth Fund and the Sands Capital Emerging Markets Fund. Their mandate is to provide exposure to the highest-quality and longest-duration growth businesses they can find. Please click on the image below to view their company introductory video:

Growth Fund Fact Sheet

Balanced Fund Fact Sheet

Commentary

Below we have included links to the two strategies where more detailed fund-specific information is provided:

https://sandscapital.com/strategies/global-growth/

https://sandscapital.com/strategies/emerging-growth/

Please don’t hesitate to contact us should you wish to discuss this information in more detail.