Mid Cap Value Fund

Select a Fund:
Fund Objective:	The Mid Cap Value Fund seeks long-term capital appreciation.
Investment Strategies:	The Mid Cap Value Fund invests primarily in common stocks of midsize and smaller companies and will maintain at least 80% of its assets in mid cap securities. The fund seeks stocks in this midsize to smaller range that have a low market price relative to their value as estimated based on fundamental analysis of the issuing company and its prospects. This is sometimes referred to as a "value" approach. The Mid Cap Value Fund includes smaller, less developed issuers, which may have difficulty competing with larger companies, but the successful ones tend to grow faster than larger companies, using profits to expand rather than to pay dividends.
Portfolio Manager Commentary: (as of December 31, 2009)	For the fourth quarter, the MEMBERS Mid Cap Value Fund returned 3.72% (Class A shares at net asset value) compared to the Russell 2000® Value Index return of 5.21% and the Morningstar Mid-Cap Value category average return of 5.21%. Year-to-date the fund gained 25.37%, while the index returned 34.21% and the category average returned 35.41%. During the quarter, telecommunications, healthcare, and material stocks outperformed the index return, with each returning in excess of 11-13%. In contrast, financials and consumer staples stocks lagged with subpar returns of 1% and 3% respectively. (full commentary)

Fund Updates

Shareholder Newsletter

(288 KB)

Style

Portfolio Management
Manager
Livia S. Asher

Livia Asher is the portfolio manager of the fund. She is supported by a team of sector specialists and analysts.

Key Highlights (as of Friday September 03, 2010)
	Class A	Class B
Daily Price	9.10	8.61
Ticker Symbol	MICAX	MICBX
Inception Date	2/28/2001	2/28/2001
Quarterly Performance Fund Fact Sheet (pdf) Prospectus and Financial Reports Links to other MEMBERS Fund information: Daily Price Summary Performance Summary Account Applications and Forms Tax Information Return to top of page to select another fund

Portfolio Highlights (as of December 31, 2009)
Mid Cap Stocks	71.9%
Large Cap Stocks	13.5%
Small Cap Stocks	12.5%
Cash	2.1%

% of Fund in Top Ten Securities	21.9%
Turnover	103.86%
Net Assets	$31.7 million

If this section contains PDF files, you must have Adobe Reader 5.0 or higher.
If you do not have Adobe Reader 5.0 or higher, click on the following link: Adobe Reader.

*MEMBERS® Mutual Funds are distributed by Mosaic Funds Distributor, LLC.

For more complete information about MEMBERS® Mutual Funds, including charges and expenses, obtain a prospectus from your representative, by calling 1-800-877-6089 or by clicking on the prospectus section to view or download a prospectus. Read it carefully before you invest or send money. Consider the investment objectives, risks and charges and expenses of the investment carefully before investing. The prospectus contains this and other information about the investment company.

MEMBERS® Mutual Funds are not deposits in, or obligations of, and are not guaranteed by, any financial institution and are not federally insured.

Privacy Proxy Voting Code of Ethics Supported Browser