https://www.sec.gov/Archives/edgar/data/1199046/000139834419003316/fp0039746_497.htm497 1 fp0039746_497.htm
February 26, 2019
SYMONS VALUE INSTITUTIONAL FUND (the “Fund”)
Supplement to the Prospectus and Statement of Additional Information dated February 25, 2019
Class II shares were added by a prospectus effective February 25, 2019. The Board of Trustees of Unified Series Trust has approved the conversion of the Fund’s Class I shares into Class II shares, which is expected to take place after the close of business on March 27, 2019. Class II shares are not available for purchase until after the conversion has taken place.
Shareholders who currently hold Class I shares will receive Class II shares equivalent in aggregate value at the time of conversion, and affected shareholders will experience lower net operating expense ratios. The share class conversion is not expected to be a taxable event for federal income tax purposes, and should not result in the recognition of gain or loss by converting shareholders.
Effective immediately following the conversion of Class I shares into Class II shares, Symons Capital Management, Inc. the Fund’s investment adviser, has contractually agreed to reduce the management fee on Class II shares to 0.90%, and to reduce the expense cap for Class II shares so that total operating expenses (excluding certain expenses described in footnote 2 to the fee table shown below) do not exceed 0.97% of the Fund’s average daily net assets.
The Fees and Expenses of the Fund and Expense Example sub-sections in the Summary Section of the prospectus will be deleted and replaced as follows:...
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