@Vintage Freak
You are actually paying an 8.13% expense ratio according to the most recent prospectus and confirmed with a telephone call I just made to TFS Capital.

@Vintage Freak
You are actually paying an 8.13% expense ratio according to the most recent prospectus and confirmed with a telephone call I just made to TFS Capital.

Investors usually exit poorly performed funds. in order to raise cash for exiting investors, managers of the open end funds have to sell securities in a declining market. so they realize multi-year gains and sting the remaining investors with the cap gain taxes on top of the poor performance.

If your shares are still under water (e.g. if you bought them in the past year), you can sell them on the record date and buy them back on the ex-date.
You won't get to recognize your capital loss now (you'll have a wash sale, which will defer the loss), but you will avoid receiving the taxable distribution. This is a painless way of avoiding the paper gain while still staying invested (except for one day).
Realize that you'll be another one of those sellers dumping the cap gains on the remaining investors.

Investors usually exit poorly performed funds. in order to raise cash for exiting investors, managers of the open end funds have to sell securities in a declining market. so they realize multi-year gains and sting the remaining investors with the cap gain taxes on top of the poor performance.

This question concerns year end distribution estimates.
My understanding is that short term capital gains are distributed by a fund as ordinary dividends and are not qualified.
For example, Dreyfus writes: "A mutual fund may flow through to its shareholders the qualified dividends it receives from its investment in equity securities. Dividends paid by the fund from interest income received and short-term capital gains will not qualify for the lower tax rates."
https://public.dreyfus.com/accounts-services/tax-center/cap-gains-faqs.html
The T. Rowe Price instructions for how to apply the qualified dividend estimate is to multiply the percentage given by the sum of the income dividends and the short term cap gains dividends (i.e. the ordinary dividends) for the fund.
For Small Cap Value Fund, the figures are: 100% qualified, $0.27 income, $0.03 short term gains. How can 100% of the ordinary income dividends ($0.30) be qualified, when 10% of those dividends are short term gains? It seems you are saying that short term gains may be qualified dividends.
Is there some rule that permits (under certain conditions) short term capital gains to be passed through as qualified dividends? Or is the estimated percentage of qualified dividends overly optimistic for this fund?
Thank you.

Hi Catch22 ...
I used the decline in the Index's price line to add value and to enter into the spiff in time for the anticipated fall stock market rally. .....I made a guess as to how much these anticipated distributions would amount to and chose to position in while I felt prices in October would be more favorable than what they might be towards yearend; and, I fronted the money to make the purchases. I'll let the forthcoming anticipated capital gain distributions restore my cash allocation within my portfolio. Kind of clever ... Don't you think?
In short, I felt prices would be more favorable in October than they might be in November, December, January, February and March ... and, I chose to go ahead and position in to hopefully catching the anticipated fall stock market rally that usually starts sometime towards the end of October and usually runs through the first quarter of the following year on and into its second quarter.
Old_Skeet

I actually like frequent CNBC contributor Dennis Gartman less than I do Cramer.
Gartman's two calls for stocks to move lower over the past few weeks have been the moment the markets reversed.
+++++++++++++++++++++++++++++
I happened to hear the sell signal he gave earlier this year on CNBC. Amazing how he got it just wrong. And now this one on Oct. 16th. Amazingly bad timing. His subscribers pay a lot to get his advice. They have lost a lot of money getting out at the low, being out for the rebound, and paying a lot of capital gains taxes to boot, on any previously unrealized gains they had.

@VintageFreak. Why are you surprised with the AKREX note. I've owned FBRVX and now AKREX and it has always been a steady performer in up and down markets.

Thanks to The Shadow. ("The SHADOW knows...") And to all the others who have added to the list here. My question is about the TRP est. numbers--- particularly about PRESX Europe and PRSVX Small-cap Value. Can those estimates really be trusted, after a pretty stinky year, so far? If so, how do we account for the discrepancy?
PRESX YTD is down -10.72%, but with an over 2% rise, just on Friday last.
And yet: a larger pay-out (.35 cents/share) is estimated--- bigger than last year's.
PRSVX is down YTD by -7.74%. But a pay-out of $2.63 is estimated.
How on earth.......???????????