Even JR has a quota to meet. It's written in his retirement contract.
Last July, I saw a dog crossing the street.
This July, I thought I would see a dog again. Except I saw a cat.
Some Julys' you see Dogs, other Julys' you see Cats. Most of the time in July you will see Dogs, but you can never tell when you will see a Cat.
Fin.

https://www.sec.gov/Archives/edgar/data/773757/000119312518204090/d601516d497.htm
497 1 d601516d497.htm CFST I
Supplement dated June 26, 2018
to the Prospectus, Summary Prospectus and Statement of Additional Information (SAI), as supplemented (as
applicable), of the following fund (the Fund):
Fund Prospectus and Summary Prospectus Dated SAI Dated
Columbia Funds Series Trust I
 Columbia Diversified Absolute Return Fund 10/1/2017 6/1/2018
The Board of Trustees of the Fund has approved a Plan of Liquidation and Termination (the Plan) pursuant to which the Fund will be liquidated and terminated.
Effective at the open of business on July 27, 2018, the Fund is no longer open to new investors. Shareholders who opened and funded an account with the Fund as of the open of business on this date (including accounts once funded that subsequently reached a zero balance) may continue to make additional purchases of Fund shares, including purchases by an existing retirement plan that has a plan-level or omnibus account with the Transfer Agent or other omnibus accounts relating to new or existing participants seeking to invest in the Fund. Effective July 27, 2018, any applicable contingent deferred sales charges will be waived on redemptions and exchanges out of the Fund.
Under the terms of the Plan, it is anticipated that the Fund will be liquidated on or about September 7, 2018 (the Liquidation Date) at which time the Fund's shareholders will receive a liquidating distribution in an amount equal to the net asset value of their Fund shares. For federal income tax purposes, the liquidation of the Fund will be treated as a redemption of Fund shares and may cause shareholders to recognize a gain or loss and pay taxes if the liquidated shares are held in a taxable account. You should consult with your own tax advisor about the particular tax consequences to you of the Fund’s liquidation. Shareholders of the Fund may redeem their investments in the Fund or exchange their Fund shares for shares of another Columbia Fund at any time prior to the Liquidation Date. If the Fund has not received your redemption request or other instructions prior to the Liquidation Date, your shares will be automatically liquidated on the Liquidation Date.
As of the close of business on the business day preceding the Liquidation Date, the Fund will not accept any orders for the purchase of or exchange for shares of the Fund. Orders for the purchase of or exchange for shares of the Fund may, in the Fund’s discretion, be rejected prior to the Liquidation Date, including for operational reasons relating to the anticipated liquidation of the Fund.
During the period prior to the Liquidation Date, the Fund’s investment manager, Columbia Management Investment Advisers, LLC (the Investment Manager), may depart from the Fund’s stated investment objectives and strategies to reduce the amount of portfolio securities and hold more cash or cash equivalents to liquidate the Fund’s assets in an orderly manner that the Investment Manager believes to be in the best interests of the Fund and its shareholders. Shareholders remaining in the Fund may bear increased transaction fees incurred in connection with the disposition of the Fund’s portfolio holdings. Such transaction costs would reduce distributable net capital gains.
The Fund will pay out all distributable net income and net capital gains prior to the Liquidation Date. Shareholders will receive liquidation proceeds as soon as practicable after the Liquidation Date.
Shareholders should retain this Supplement for future reference.

FYI: Average on Tuesday, many participants in its 401(k) retirement plan were likely in shock. Over one-third of the plan’s assets have been invested in the shares of General Electric, as shown by the company’s federal filings. Its share price has fallen by 60% since the end of 2016, as the S&P 500 has risen by over 25%.
Similarly, participants in the 401(k) retirement plan at Scana—a natural gas company in Georgia—have suffered heavy losses from inadequate diversification. Over 60% of the plan’s assets were invested in Scana stock, as shown by the company’s federal filings. Its share price fell by nearly 50% since the end of 2016.
As these examples illustrate, holding a large portion of your retirement assets in your employer’s stock is dangerous for your financial health. Such a large concentration undermines the risk-reducing benefits of a diversified securities portfolio. Indeed, a large holding in employer stock doubles your risk: If your company runs into major problems, you may lose your job and your retirement security.
Regards,
Ted
http://fortune.com/2018/06/20/general-electric-dow-jones-401k-retirement/

Junkster: I'm guessing you hold HOBIX ?
Derf

Correct. I corrected that in my post thanks. Very small position for now. Slim pickings in the current bond environment besides the non agencies. Money market funds at Fidelity now over 2% and rising with CDs even higher would more than fund my retirement. I wonder sometimes why I just don’t camp out there until the next junk corporate or muni junk bond debacle. My best years seem to come after such debacles.

My limited number (fortunately) of bond funds have done poorly this year, and MCRDX took a vicious hit today, losing over 1% (the East has certainly turned red for now).
Soooo, what's the opinion on floating rate funds? I was happy with FFRHX until my university moved almost all my Fido funds into Vanguard, which I'd planned to do in my rapidly approaching retirement.
I'm not sure I can access funds outside of Fido and Vanguard until I retire, so don't titillate me with unaccessible stars.

https://www.sec.gov/Archives/edgar/data/1103243/000141304218000161/momentumbond497cls.htm
497 1 momentumbond497cls.htm
The Momentum Bond Fund
A series of PFS Funds
Supplement dated June 8, 2018
to the Prospectus and Statement of Additional Information
each dated September 1, 2017
The Board of Trustees (the “Board”) of the PFS Funds (the “Trust”) has approved a Plan of Liquidation (the “Plan”) relating to The Momentum Bond Fund (the “Fund”), effective June 6, 2018. NWM Fund Group, LLC, the Fund’s investment adviser (the “Adviser”), recently completed a strategic review of the management and operations of the Fund and determined that it does not desire to continue to support the Fund and has recommended to the Board to approve the Plan. As a result, the Board has concluded that it is in the best interest of the shareholders to liquidate the Fund.
In connection with the proposed liquidation and dissolution of the Fund called for by the Plan, the Board has directed the Trust’s principal underwriter to cease offering shares of the Fund immediately as of the date of this Supplement. Shareholders may continue to reinvest dividends and distributions in the Fund or redeem their shares until the liquidation.
It is anticipated that the Fund will liquidate on or about June 29, 2018. Any remaining shareholders on the date of liquidation will receive a distribution of their remaining investment value in full liquidation of the Fund. If you have questions or need assistance, please contact your financial advisor directly or the Fund toll-free at 1-888-331-9609 or the Adviser at 1-707-252-1343.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax advisor regarding the consequences of any redemption of Fund shares. If you receive a distribution from an Individual Retirement Account or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another Individual Retirement Account within sixty (60) days of the date of the distribution in order to avoid having to include the distribution in your taxable income for the year. If you receive a distribution from a 403(b)(7) Custodian Account (Tax-Sheltered account) or a Keogh Account, you must roll the distribution into a similar type of retirement plan within sixty (60) days in order to avoid disqualification of your plan and the severe tax consequences that it can bring. If you are the trustee of a Qualified Retirement Plan, you may reinvest the money in any way permitted by the plan and trust agreement.
This Supplement, and the existing Prospectus dated September 1, 2017, provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the Statement of Additional Information dated September 1, 2017 have been filed with the Securities and Exchange Commission, are incorporated by reference, and can be obtained without charge by calling the Fund toll-free at 1-888-331-9609.

haha, wise counsel, going to tell my wife
tnx
I consider myself exceedingly lucky to live in a time of DoubleLine and Pimco. We would have done close to okay in retirement having stayed in my motley of balanced funds and sundry other things, too many, but the switch has made life have notably more breathing room. Like the decadeslong bull market in general. Exceedingly lucky.

FYI: Employees at investment giant Vanguard Group will no longer have access to an S&P 500 index fund SPX, +0.86% as a choice in its 401(k) retirement plan, according to a report in the Philadelphia Inquirer.
Vanguard confirmed the change.
“We believe the Total Stock Market Index Fund VTSMX, +0.14% VTI, +0.85% VTSAX, +0.14% is the best proxy for the U.S. market, offering exposure to large-, mid-, and small-cap stocks, whereas Vanguard Institutional Index Fund concentrates on large-cap stocks,” a spokeswoman told MarketWatch in an email.
Regards,
Ted
https://www.marketwatch.com/story/vanguard-employees-wont-have-sp-500-funds-in-the-401k-plan-2018-06-06/print

https://www.sec.gov/Archives/edgar/data/1614812/000116204418000369/avon497201806.htm
Avondale Core Investment Fund
(COREX)
a Series of Avondale Funds
Supplement dated June 5, 2018
to the
Prospectus and Summary Prospectus dated February 28, 2018
____________________________________________________________________________
This Supplement to the Prospectus (the “Prospectus”) and Summary Prospectus for Avondale Core Investment Fund (the “Fund”), a series of Avondale Funds (the “Trust”), dated June 5, 2018, updates certain information found in the Prospectus and Summary Prospectus of the Fund dated February 28, 2018, as amended through June 5, 2018 as described below.
The Board of Trustees of the Avondale Funds has determined that it is in the best interests of the Fund and its shareholders to close the Avondale Core Investment Fund effective June 15, 2018 (“Liquidation Date”).
Effective immediately, the Fund, pursuant to a Plan of Liquidation (“Liquidation”) approved by the Board of Trustees, will not accept any new investments and will no longer pursue its stated investment objective. The Fund will begin liquidating its portfolio and will invest in cash equivalents until all shares have been redeemed. Any capital gains will be distributed as soon as practicable to shareholders and reinvested in additional shares, unless you have previously requested payment in cash. Shares of the Fund are otherwise not available for purchase.
Accordingly, the prospectus has been amended:
Suspension of Sales. Effective immediately, the Fund will no longer accept orders to buy shares of the Fund from any new investors or existing shareholders.
Prior to June 15, 2018, you may redeem your investment in the Fund, including reinvested distributions, in accordance with the “How to Redeem Shares” section in the Prospectus. Unless your investment in the Fund is through a tax-deferred retirement account, a redemption is subject to tax on any taxable gains. Please refer to the “Tax Status, Dividends and Distributions” section in the Prospectus for general information. You may wish to consult your tax advisor about your particular situation.
ANY SHAREHOLDERS WHO HAVE NOT EXCHANGED OR REDEEMED THEIR SHARES OF THE FUND PRIOR TO JUNE 15, 2018 WILL HAVE THEIR SHARES AUTOMATICALLY REDEEMED AS OF THAT DATE, AND PROCEEDS WILL BE SENT TO THE ADDRESS OF RECORD. If you have questions or need assistance, please contact your financial advisor directly or the Fund at 1-800-564-3899.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax advisor regarding the consequences of a redemption of Fund shares. If you receive a distribution from an Individual Retirement Account or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another Individual Retirement Account within sixty (60) days of the date of the distribution in order to avoid having to include the distribution in your taxable income for the year. If you receive a distribution from a 403(b)(7) Custodian Account (Tax-Sheltered account) or a Keogh Account, you must roll the distribution into a similar type of retirement plan within sixty (60) days in order to avoid disqualification of your plan and the severe tax consequences that it can bring. If you are the trustee of a Qualified Retirement Plan, you may reinvest the money in any way permitted by the plan and trust agreement.
**********************
Shareholders should read this Supplement in conjunction with the Prospectus, as well as the Fund’s Statement of Additional Information, each as supplemented from time to time. These documents provide information that you should know before investing, and should be retained for future reference. These documents are available upon request and without charge by calling Mutual Shareholder Services at 1-800-494-2755.
Investors should retain this supplement for future reference.

FYI: People with self-directed brokerage accounts within their retirement plans invested the largest percentage of assets in mutual funds in the first quarter 2018, according to new Charles Schwab report.
The report analyzed investment trends from approximately 137,000 Schwab retirement plans with self-directed accounts that have balances between $5,000 and $10 million.
Regards,
Ted
https://www.fa-mag.com/news/self-directed-401-k--investors-favor-mutual-funds--increase-account-balances-38995.html?print

Looks like they finally cut Wells Fargo from its otherwise excellent holdings recently -- which now (on principle) puts the fund back 'in play' for me both in taxable and retirement accounts I used to hold it in my Roth, but swapped it for TWEIX a few years ago.
From their 3/31 commentary...
The Fund remains underweight financial services because most companies offer inadequate upside potential at current valuations. That said, proceeds from the Wells Fargo sale were invested into two competitively advantaged financial institutions. The first is American Express, the world’s largest card issuer by purchase volume. American Express has built a global payments network that generates high returns on equity and maintains its prestigious brand through its best-in-class customer service, innovative digital platform and strong security.
First Republic, a private bank focused on attractive markets, such as San Francisco, New York City, Los Angeles and Boston, was the Fund’s second addition. The bank’s excellent customer service attracts affluent individuals and successful small businesses, which leads to outsized loan growth with pristine credit quality. First Republic’s recent rollout of an innovative student loan refinancing program should attract the next generation of affluent customers and accelerate the bank’s growth.

On a semi-related note, TRP's PRGTX has a 12%-ish stake in TSLA at the moment. Given Musk's recent bouts of public weirdness that should give fundholders some pause maybe....and yes I own PRGTX in both taxable and retirement accounts.

My models told me to allocate 10% from cash to equity in my retirement accounts a couple of days back. THAT is the reason Market is going down. Geopolitics...bah!
But I'm going to use any downturn to look into buying more of what I own in taxable accounts. Let the market come to me!

@Anna, if you happen to be dealing with TRP target date funds, they offer 2 options, but to me don't explain them well. They have for instance a 2020 "Target Date" fund that does change allocation as you get older. But they also have a "Retirement" fund that holds at it's allocation.
Example:
TRRBX 2020 retirement fund 37/20/40 US stock/Int stock/bonds
TRRUX 2020 target date fund 28/15/52 US stock/Int stock/bonds

Right now he's at Vanguard. I'll look to see if they have comparable offers. Thanks.

@Anna, if you happen to be dealing with TRP target date funds, they offer 2 options, but to me don't explain them well. They have for instance a 2020 "Target Date" fund that does change allocation as you get older. But they also have a "Retirement" fund that holds at it's allocation.
Example:
TRRBX 2020 retirement fund 37/20/40 US stock/Int stock/bonds
TRRUX 2020 target date fund 28/15/52 US stock/Int stock/bonds

FYI: Over the past decade, target-date mutual funds have gotten bigger, cheaper and phenomenally popular.
The style of funds, which automatically become more conservative as they near a preset year — typically by reducing their exposure to equities in favor of bonds — have taken over Wall Street, emerging as one of the most popular choices for investors to use in their retirement accounts. Target-date funds are seen as ideal retirement holdings, as they are designed to be held for extremely long periods of time, and because they rebalance their holdings as the holder ages without the investor having to make timing decisions.
Regards,
Ted
https://www.marketwatch.com/story/heres-how-target-date-funds-have-taken-over-wall-street-2018-05-08/print

I own Homestead Growth, HNASX, a clone of this TRP institutional strategy. There is a profile by David available. I have growth in my retirement portfolio, despite my age. If I outlive my parents, I still have a long glide path. Sounds like a good choice your employer made.

FYI: Required minimum distributions force retirement savers to take taxable withdrawals out of their retirement plans and traditional IRAs, but advisors have four useful tools to help mitigate the impacts.
Regards,
Ted
https://www.fa-mag.com/news/michael-kitces-4-ways-to-mitigate-the-impact-of-rmds-38580.html?print

@ Maurice: I'm in the same boat, as end of third qter 2017 I moved 2 accounts there. I think it depends on how big of a hit you would be able to take & still sleep. Also what and when this cash will be needed. Retirement income fund lost about 10 % in 2008 correction. As for me I think I'll sit on cash until fall .
Derf

Recent M* article on "2 Ways to Upgrade Your 401(k) Without Leaving Your Job"

employees may not have to wait until they retire or leave the firm to be able to make improvements to their 401(k)s. If their plans offer what's called an "in-service distribution," they can move a portion of their money from the company retirement plan to an IRA even as they remain with the same employer. Additionally, some company retirement plans offer an "in-plan conversion," which gives employees the chance to convert traditional 401(k) assets to Roth 401(k) assets within the confines of the same plan.

https://morningstar.com/articles/861732/2-ways-to-upgrade-your-401k-without-leaving-your-j.html