FYI: Small-cap stocks make a big difference.
Regards,
Ted
http://www.marketwatch.com/story/how-to-double-your-target-date-retirement-funds-return-in-a-single-move-2015-04-09/print

http://www.sec.gov/Archives/edgar/data/1002624/000100262415000005/hsfstatutorysticker481-20154.htm
497 1 hsfstatutorysticker481-20154.htm
T. Rowe Price Health Sciences Fund
Supplement to Prospectus Dated May 1, 2014
Effective June 1, 2015, the T. Rowe Price Health Sciences Fund will be closed to new investors. Accordingly, the prospectus is updated as follows.
Under “Purchase and Sale of Fund Shares” in section 1, the following is added:
Subject to certain exceptions, the fund will be closed to new investors and new accounts after the close of the New York Stock Exchange on June 1, 2015. Investors who already hold shares of the fund after June 1, 2015, may continue to purchase additional shares.
Under “More Information About the Fund and Its Investment Risks” in section 3, the following is added:
Subject to certain exceptions, the fund will close to new investors and will no longer accept new accounts after the close of the New York Stock Exchange (normally 4 p.m. ET) on Monday, June 1, 2015.
Additional share purchases are permitted for investors holding shares of the fund directly with T. Rowe Price at the close of the New York Stock Exchange on June 1, 2015, as well as for participants in an employer-sponsored retirement plan where the fund serves as an investment option. New T. Rowe Price IRAs in the fund may be opened only through a direct rollover from an employer-sponsored retirement plan. Investors already holding shares through intermediaries generally will be able to purchase additional shares. If permitted by T. Rowe Price, fund shares may also be purchased by new investors in intermediary wrap, asset allocation, and other advisory programs when the fund is an existing investment in the intermediary’s program. If you are purchasing shares through an intermediary, check with the intermediary to confirm your eligibility to purchase shares of the fund.
The fund’s closure to new investors does not restrict existing shareholders from redeeming shares of the fund. However, any shareholders who redeem all fund shares in their account would not be permitted to purchase additional shares until the fund is reopened to new investors. Transferring ownership to another party or changing an account registration may also restrict the ability to purchase additional shares.
The fund reserves the right, when in the judgment of T. Rowe Price it is not adverse to the fund’s interests, to permit certain types of investors to open new accounts in the fund, to impose further restrictions, or to close the fund to any additional investments, all without prior notice.
The date of this supplement is April 8, 2015.
F114-041 4/8/2015
--------------------------------------------------------------------------------

Investing, be it money and/or time is to obtain a personal goal, yes?
TIME investing:
I spent a fair amount of time investing in a particular educational path.
I wanted to have the ability to be within a work area that I enjoyed and that would also provide a "decent" livelyhood.....wage.
That did happen (the career); but I was not part of a union workforce, and I knew at a young age that I would not have a bountiful pension program that was very evident in a large, union wage state as Michigan was during my work period. I would not have any health benefit, nor a cost of living index attached to my retirement.
I/we knew we would and should be prepared to provide for ourselves monetarily in the future; for any shortcomings or unknowns from any other income source. We did not and still do not have any rich relative who will be dropping a boatload of money into our laps upon their passing; and we still have not had the big win in the lotto.
MONETARY investing:
From the above arose active investing of our monies that were in excess of our needs from our budget.
As to active investing, well, as @Old_Joe noted too; I don't know what else one could name the direct involvment of investing; other than one being active. One decides; plain and simple about how to guide the monies, eh?
When I use the word "active" here, it is only in the sense of being involved with the decision of "what" for an investment. We're not very fussy about the sector(s) where the capital appreciation arrives. We have active, passive and etf's.
Take care,
Catch

http://www.sec.gov/Archives/edgar/data/1396092/000120928615000184/e1618.htm
497 1 e1618.htm
LEADSMAN CAPITAL STRATEGIC INCOME FUND
Supplement dated April 7, 2015
to the Prospectus and Statement of Additional Information
each dated September 15, 2014
The Board of Trustees (the “Board”) of World Funds Trust (the “Trust”) has approved a Plan of Liquidation (the “Plan”) relating to the Leadsman Capital Strategic Income Fund (the “Fund”), effective April 7, 2015. Leadsman Capital LLC, the Fund’s investment adviser (the “Adviser”), has recommended to the Board to approve the Plan based on its representations of its inability to market the Fund and the Adviser’s indication that it does not desire to continue to support the Fund. As a result, the Board has concluded that it is in the best interest of the Fund’s 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 April 7, 2015. 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 1.800.673.0550.
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 15, 2014, provide relevant
information for all shareholders and should be retained for future reference. Both the
Prospectus and the Statement of Additional Information dated September 15, 2014 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 1.800.673.0550.

@ Catch & John - I found the list of Googled articles to have some fairly misleading titles. However, once one starts reading the articles the truth starts to surface. The only tax issue to holding an MLP in an IRA account has to do with UBTI or UBIT (unrelated business tax income) in excess of $1000/year. If your MLP reports UBTI greater than this your IRA, not you, will have to declare and pay the required tax. Your brokerage firm completes the required forms and may charge you for this service.
Having owned multiple MLP's in my retirement IRA's for over 10 years now I have never seen a positive UBTI much less one over $1000. In fact, as one article mentioned, TurboTax actually kicks the K-1 out of tax reporting if you state that the MLP is held in a retirement account. Do consult with your accountant or tax preparer and you should find that there are no issues.

Mulder,
Since you are considering VASVX, you might want to look into VMVAX for the following reasons.
1. VMVAX is more of pure mid cap value fund. 36% of VASVX is large cap.
2. VIMAX has superior 1 and 3 year returns and while Admiral shares have not not been in existence for 5 years, VMVIX has better 5 year returns.
3. VMVAX has an expense ratio of 0.09%. VASVX has an expense ratio of 0.41%.
While I think VASVX is a fine actively managed fund, I believe that is primarily attributable to Jim Barrow, its lead manager and secondarily, Mark Giambrone, both of Barrow, Hanley, Mewhinney & Strauss. Jim will be 75 in the next few months and in preparation of his eventual retirement, Vanguard has has added two fund advisers (Donald Smith & Co and Pzena Investment Management), which I feel dilutes the good ideas from Barrow and Giambrone.
Mona

FYI: Retirement-oriented managers take top awards; other victors include American Funds, Oakmark and Lord Abbett.
Regards,
Ted
http://www.investmentnews.com/article/20150331/FREE/150339978?template=printart
Reuters Slant:
http://www.reuters.com/article/2015/04/01/funds-lipperawards-idUSL2N0WX1NN20150401

Based upon what I've seen over the years; that although Baird does have investor class shares, the majority of these funds ( I shares) that I have seen as portfolio choices were offerings inside of retirement plans, and that the "I" shares, being using by large institutions (pension funds, etc.)
I am aware of a large pension plan that will be replacing PTTRX at the end of April with the institutional class of the Baird intermediate term bond fund.
Another Pimco loss; although PTTRX is beating most of their related fund competition YTD.
Knee jerk stuff by managers (pension funds, etc.) , as was discussed here, last year.
@Mark . Agree. I was also trying to determine the value of a compare of HY funds to a more straight line bond fund. Oh, well.

@hank That's a pleasant way of looking at the situation. And it was pleasurable to note I have done pretty much the same thing, for the same reasons--- I just hadn't fully realized why until I read your comment! [I hope you are aware that, with such a temperament, you're gonna need an additional 5-10 yrs of living expenses in your retirement]

I own WAEMX in a retirement acct.@ Schwab. When trying to purchase additional shares this A M ,got this message.
This order cannot be placed. Please read the Order Verification message(s) below for assistance.
Order Messages
We cannot process your order because shares for this fund are only available to institutional customers.

Emerging Markets Small Cap Fund is open to direct purchases to new investors through Wasatch only.
http://www.sec.gov/Archives/edgar/data/806633/000119312515103112/d896282d497.htm
497 1 d896282d497.htm WASATCH FUNDS TRUST
WASATCH FUNDS TRUST
Supplement dated March 24, 2015 to the
Statement of Additional Information dated January 31, 2015
Investor Class
Wasatch Core Growth Fund® — Investor Class (WGROX)
Wasatch Emerging India Fund® — Investor Class (WAINX)
Wasatch Emerging Markets Select Fund® — Investor Class (WAESX)
Wasatch Emerging Markets Small Cap Fund® — Investor Class (WAEMX)
Wasatch Frontier Emerging Small Countries Fund® — Investor Class (WAFMX)
Wasatch Global Opportunities Fund® — Investor Class (WAGOX)
Wasatch Heritage Growth Fund® — Investor Class (WAHGX)
Wasatch International Growth Fund® — Investor Class (WAIGX)
Wasatch International Opportunities Fund® — Investor Class (WAIOX)
Wasatch Large Cap Value Fund® — Investor Class (FMIEX)
Wasatch Long/Short Fund® — Investor Class (FMLSX)
Wasatch Micro Cap Fund® — Investor Class (WMICX)
Wasatch Micro Cap Value Fund® — Investor Class (WAMVX)
Wasatch Small Cap Growth Fund® — Investor Class (WAAEX)
Wasatch Small Cap Value Fund® — Investor Class (WMCVX)
Wasatch Strategic Income Fund® — Investor Class (WASIX)
Wasatch Ultra Growth Fund® — Investor Class (WAMCX)
Wasatch World Innovators Fund® — Investor Class (WAGTX)
Wasatch–1st Source Income Fund® — Investor Class (FMEQX)
Wasatch-Hoisington U.S. Treasury Fund® — Investor Class (WHOSX)
This Supplement updates certain information contained in the Wasatch Funds Statement of Additional Information for Investor Class shares, dated January 31, 2015. You should retain this Supplement and the Statement of Additional Information for future reference. Additional copies of the Statement of Additional Information may be obtained free of charge by visiting our web site at www.WasatchFunds.com or calling us at 800.551.1700.
The last paragraph in the section entitled “General Information and History” in the SAI is hereby deleted in its entirety and replaced with the following:
The Emerging Markets Small Cap Fund, Frontier Emerging Small Countries Fund, International Growth Fund and Small Cap Growth Fund are each closed to new investors with the exception of: (1) investors who purchase shares directly from Wasatch Funds; (2) clients of all investment advisors with discretionary investment allocation programs where such advisors and programs had investments in the Fund prior to the Fund’s closing date; and (3) retirement plans and their participants where such plans had investments in the Fund prior to the Fund’s closing date.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
Wasatch's web site: https://secure.wasatchfunds.com/Our-Funds.aspx

Crash -- ? wtf? DSENX is LV, the others are all moderate allocation, right?
I don't disagree that proper categorizing is pretty problematic for this rotating LV fund indexing some value-rotating ETN, but with secret sauce added via debt derivatives. If I have it right. LV seems not so wrong, though Lipper puts it as absolute return.
I am about to move quite a lot of retirement moneys (for me) into it, so that will guarantee it will drop.

Of course the return on cash is laughable, I've loaded up my max I-bonds for this year (which I like because of the tax-deferred nature, they make a good emergency fund.) I'm in my mid-40s and still have a ways to go until retirement - hopefully an early one - and I need a place to park cash since I'm a bit risk averse. And I have a lot of cash, way too much for an emergency fund.
So - more RPHYX? Maybe intermediate bond ETF like BIV? Switch my cash into large cap growth and transfer my 401k/IRA to be more heavily into bonds to avoid the tax on dividends (which I did with VIPSX years ago)?

Hi NumbersGal,
In the World Allocation space, I would take a serious look at MTOIX ($500 min in Fidelity retirement accounts + TF) and HCOYX ($100 min in Scottrade accounts + TF, $500 min in TDA retirement accounts + TF).
Kevin

FYI: Founded in 1937, T. Rowe Price Group (TROW) provides global investment management services to retail and institutional clients across the globe. T. Rowe Price Group offerings include sponsored mutual funds distributed in the United States. As well, the company offers investment portfolios such as sub-advised funds, separately managed accounts, target-date retirement trusts, collective investment trusts, a Luxembourg-based fund offered to investors outside the US, and portfolios offered through variable annuity life insurance plans in the US
Regards,
Ted
https://marketrealist.com/2015/03/t-rowe-price-group-750-billion-assets-management/
M* T. Rowe Price Fund Family: http://quicktake.morningstar.com/FundFamily/Snapshot.asp?Country=USA&Symbol=0C00001YZ8
T. Rowe Price Website: https://individual.troweprice.com/public/Retail?adcode=7208&PlacementGUID=6AC14F2B1CD24E679071DC6F825FACD7

I give How? save more, invest more, spend less...take your pick
I heard/read a new a new prescription for Retirement success "SIMPLIFICATION"
try it.....

Retirement spending = peanuts (compared to what I used to spend) Income becomes a non-issue

http://www.cheatsheet.com/personal-finance/retirement-reality-5-charts-you-need-to-see.html/?a=viewall
I've always been intrigued how much annually we spend in retirement. Obviously where we live and if married or single among other factors has an impact. The above link has some interesting retirements facts. For instance, $44897 is the average household spending for those 65-74. I would assume that is a married household. In my local community and surrounding areas I know more than a few single retirees who are doing just fine on $35,000 to $40,000 a year. That includes discretionary expenses ala trips and cruises. Then again, I live in Mayberry and about 30 years behind the times where expenses are very low.

@Kaspa: In a way, I have a momentum portfolio, but I've never called it that. It's that portion of my non-retirement savings that I trade pretty actively, using MFs, ETFs, CEFs, or stocks. I agree with you that Emerging Markets have lacked momentum for some time now. Just read annual report of MFMIX. The decline in oil prices has severely affected FM stocks and the manager thinks a recovery is not imminent. Lots of EM and FM countries rely on the sale of "stuff," and stuff isn't fetching much these days.

>> The ability of actively managed funds to outperform during bear markets is overrated. In some bear markets they do and in others they don't. More important perhaps, the Vanguard study found that in the years following bear markets, index funds usually do much better.

Link? I would like to read. I give lip service (and more than that) to these very notions in my winnowing down to PRBLX and the Yackts, but I regularly distrust my conclusions and seek contrary longterm evidence. Also at 68 I am in the retirement problem of having short and shorter longterm horizons, but unwilling to abandon equity funds and also unwilling (mostly) to index.
Hank and MJG, thanks much.