Frontegra Funds
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Columbus Core Plus












Ticker: FRTRX
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3Q 2008 Holdings
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Reams Asset Mgmt.
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Additional Frontegra Fund Information
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Investment Objective
The Frontegra Columbus Core Plus Fund's (formerly the Frontegra Total Return Bond Fund) goal, also referred to as its investment objective, is a high level of total return, consistent with the preservation of capital.

Principal Investment Strategy
The Fund seeks to achieve its goal through investment in a diversified portfolio of fixed income securities of varying maturities. When making purchase decisions, the Fund's subadviser, Reams Asset Management Company, LLC ("Reams") looks for securities that it believes are undervalued in the fixed income market. In addition, Reams structures the Fund so that the overall portfolio has a duration of between two and seven years based on market conditions.

Reams uses a two-step process in managing the Fund. First, Reams evaluates market attractiveness to establish a measure of the portfolio's duration. Next, Reams assembles the Fund's portfolio from the best available values based on analysis by the portfolio management team.

Although the Fund will invest primarily in investment grade fixed income securities, the Fund may invest up to 25% of its net assets in non-investment grade fixed income securities.

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Annual Fund Operating Expenses (As of Prospectus Dated 10/31/08)
(expenses that are deducted from Fund assets)
Class Y            Institutional Class
Management Fees 0.40%                              0.40%
Distribution (12b-1) Fees                                          0.25%                                None
Other Expenses 0.24%                              0.09%
Total Annual Fund Operating Expenses 0.89%                              0.49%
Fee Waiver -0.14%                           -0.14%
Net Expenses 0.75%                              0.35%

Pursuant to an expense cap agreement between Frontegra Asset Managment Inc. ("Frontegra") and the Fund, Frontegra has agreed to limit the Fund’s total operating expenses to 0.75% of the Fund's average daily net assets for Class Y shares and 0.35% of the Fund’s average daily net assets for Institutional Class shares through October 31, 2009, with successive renewal terms of one year unless terminated by Frontegra or the Fund. “Other Expenses” are presented before any waivers or expense reimbursements.

Past performance does not guarantee future results.  The principal value of an investment and investment return will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.  Current performance may be lower or higher than the performance quoted and may be obtained by calling 888-825-2100.  Investment performance reflects contractual fee waivers in effect.  In the absence of such waiver, total returns would be reduced.

The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing.  The prospectus contains this and other important information about the Frontegra Funds, and it may be obtained by downloading or calling 888-825-2100.  To download, select the Prospectus option located on the left sidebar.

Mutual fund investing involves risk; principal loss is possible.

Principal Risk Factors. The main risks of investing in the Fund are:

M a r k e t R i s k s . The Fund’s investments are subject to market risk, so that the value of the Fund’s investments may decline. If the value of the Fund’s investments goes down, you may lose money. The share price of the Fund is expected to fluctuate. Your shares at redemption may be worth more or less than your initial investment.

I n d i v i d u a l B o n d R i s k s . The Fund’s investments are subject to the risks inherent in individual bond selections. While fixed income securities normally fluctuate less in price than stocks, there have been extended periods of increases in interest rates that have caused significant declines in fixed income securities prices. The values of fixed income securities may be affected by changes in the credit rating or financial condition of their issuers. Generally, the lower the credit rating of a security, the higher the degree of risk as to the payment of interest and return of principal. Fixed income markets are experiencing greater volatility due to recent market events.

M a t u r i t y R i s k . The Fund will invest in bonds of varying maturities. A bond’s maturity is one indication of the interest rate exposure of a security. Generally, the longer a bond’s maturity, the greater the risk and the higher its yield. Conversely, the shorter a bond’s maturity, the lower the risk and the lower its yield.

Cre d i t R i s k . Individual issues of fixed income securities in the Fund may also be subject to the credit risk of the issuer. Credit markets are currently experiencing greater volatility due to recent market events.

Pre p a y m e n t R i s k . The Fund may invest in mortgage- and asset-backed securities which are subject to fluctuations in yield due to prepayment rates that may be faster or slower than expected.

I n c o m e R i s k . The Fund's income could decline due to falling market interest rates. In a falling interest rate environment, the Fund may be required to invest its assets in lower-yielding securities. Because interest rates vary, it is impossible to predict the income or yield of the Fund for any particular period.

M o r t g a g e - a n d A s s e t - B a c k e d S e c u r i t i e s R i s k . The yield characteristics of mortgage- and asset-backed securities differ from those of traditional debt obligations. For example, interest and principal payments are made more frequently on mortgage- and asset-backed securities, usually monthly, and principal may be prepaid at any time. As a result, if a Fund purchases these securities at a premium, a prepayment rate that is faster than expected will reduce yield to maturity, while a prepayment rate that is slower than expected will increase yield to maturity. If a Fund purchases these securities at a discount, a prepayment rate that is faster than expected will increase yield to maturity, while a prepayment rate that is slower than expected will reduce yield to maturity. Accelerated prepayments on securities purchased at a premium also impose a risk of loss of principal because the premium may not have been fully amortized at the time the principal is prepaid in full. The market for privately issued mortgage- and asset-backed securities is smaller and less liquid than the market for government sponsored mortgage-backed securities. Recent market events have caused the markets for mortgage- and asset-backed securities to experience significantly lower valuations and reduced liquidity.

P o r t f o l i o Tur n o v e r R i s k . Although the Fund does not engage in frequent trading as a principal investment strategy, from time to time a Fund may experience a high portfolio turnover rate due to various factors, such as changes in asset levels or more trading in response to volatility in the fixed income markets. The portfolio turnover rate indicates changes in a Fund’s securities holdings. If a Fund experiences a high portfolio turnover rate, you may realize significant taxable capital gains as a result of frequent trading of the Fund’s assets and the Fund will incur transaction costs in connection with buying and selling securities. Tax and transaction costs lower a Fund’s effective return for investors.

L i q u i d i t y R i s k . Liquidity risk is the risk that certain securities may be difficult or impossible to sell at the time and price that Reams would like to sell. Reams may have to lower the price, sell other securities instead or forego an investment opportunity, any of which could have a negative effect on a Fund’s management or performance. Recent market events have caused the markets for some of the securities in which the Fund invests to experience reduced liquidity.

Management Risk. The Fund is subject to management risk as an actively-managed investment portfolio. Reams and each individual portfolio manager will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. If Reams is not able to select better-performing fixed income securities, the Fund may lose money.

Valuation Risk. The securities held by the Fund are generally priced by an independent pricing service and may also be priced by Reams using dealer quotes or fair valuation methodologies in accordance with valuation procedures adopted by the Board of Directors.   The independent pricing service provides prices for debt securities that are based on various market inputs and industry information.  The prices provided by the independent pricing service or dealers or the fair valuations may be different from the prices used by other mutual funds or from the prices at which securities are actually bought and sold.  The prices of certain securities provided by the pricing service or dealers or the fair valuations will vary depending on the information that is available.   Securities may be more difficult to value at the current time due to recent market events as noted below.

High Yi e l d S e c u r i t y R i s k . The Fund may invest up to 25% of its assets in high yield securities, which tend to be more sensitive to economic conditions than are higher-rated securities. As a result, they generally involve more credit risk than securities in the higher-rated categories. During an economic downturn or a sustained period of rising interest rates, highly leveraged issuers of high yield securities may experience financial stress and may not have sufficient revenues to meet their payment obligations. The risk of loss due to default by an issuer of these securities is significantly greater than issuers of higher-rated securities because such securities are generally unsecured and are often subordinated to other creditors. The Fund may have difficulty disposing of certain high yield securities because there may be a thin trading market for such securities. To the extent a secondary trading market does exist, it is generally not as liquid as the secondary market for higher-rated securities. Periods of economic uncertainty generally result in increased volatility in the market prices of these securities and thus in the Fund’s net asset value.  Markets have recently experienced dramatic volatility and economic uncertainty continues.


Frontegra Funds, Inc. are distributed by Frontegra Strategies, LLC, an affiliate of Frontegra Funds, Inc., and managed by Frontegra Asset Management, Inc.

Frontegra Strategies, LLC   is located at 400 Skokie Boulevard, Suite 500, Northbrook, Illinois 60062, and can be contacted by calling (847) 509-9860.  Frontegra Strategies, LLC is a member of the Financial Industry Regulatory Authority, Inc. and SIPC.www.finra.org

You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at (202) 371-8300.

The Frontegra Columbus Core Plus Fund is not offered for sale in countries other than the United States and its territories. The Frontegra Columbus Core Plus Fund is offered for sale in all U.S. states and territories except the Virgin Islands.