The U.S. Economy
U.S. Gross Domestic Product ("GP") increased 2.5% in 2023, 1.9% in 2022, 5.9% in 2021, and decreased -3.4% in 2020. GP is estimated to have incresaed 1.6% in the quarter ended March 31, 2024 after increasomg at am annualized rate o 3.4% in the quarter ended December 313, 2024 and increasing 4.9% in the quarter ended September 30, 2023. GDPis forecast to increase 2.7% in the quarted ended June 30, 2024 and to increase 3.3% in calendar 2024.
U.S. inflation, as measured by the Consumer Price Index, incrased 4.1% in 2023, 8.0% in 2022, and 1.2% in 2020. Inflation is estimated to have incrseaed 3.2% in the quarter ended March 31, 2024 after increasing 3.2% in the quarter ened December 31, 2023 and increasing 3.6% in the quarter ended September 30, 3023. Inflation is forecast to increase 3.5% in the quarted ending June 30, 2024 and to increase 3.3% in calendar 2024..
Opportunistic Investing in Companies of Various Sizes and Diversified Among Various Industries
The Blue Chip Fund usually invests in companies of various sizes as classified by their market capitalizations. A company’s market capitalization is calculated by taking the number of shares the company has outstanding multiplied by its current market price. Other considerations in selecting companies for the Fund include revenue growth rates, product innovations, financial strength, management’s knowledge and experience, plus the overall economic and geopolitical environments and interest rates. The Fund’s investments are diversified among various industries.
The long-term strategy of the Blue Chip Fund is to emphasize investment in worldwide “Blue Chip” growth companies. These companies are defined as companies with a minimum market capitalization of U.S. $1 billion. In the long-term, these companies build value as their earnings grow. This growth in value should ultimately be recognized in higher stock prices for these companies.
For automatic current daily net asset values: Call 1-800-773-9665 (1-800-7REYNOLDS) twenty-four hours a day, seven days a week
and press “any key” then “1”. The updated current net asset value for the Blue Chip Fund is usually available each business day after 5 P.M. (PST).
For the Blue Chip Fund shareholders to automatically access their current account information: Call 1-800-773-9665 (twenty-four
hours a day, seven days a week), press “any key” then “2” and enter your 16 digit account number which appears at the top right of
your statement.
To speak to a Fund representative regarding the current daily net asset value, current account information and any other
questions: Call 1-800-773-9665 and press “0” from 6 A.M. to 5 P.M. (PST).
Shareholder statement frequency: Statements summarizing the Blue Chip Fund accounts held by a shareholder are sent quarterly. In addition, Blue Chip Fund statements are sent whenever a transaction
occurs. These transactions are: (1) statements sent for the Blue Chip Fund when a shareholder
purchases or redeems shares; (2) Blue Chip Fund statements sent if, and when, any ordinary income or capital gains are distributed.
Tax reporting: Individual 1099 forms, which summarize any dividend income and any long- or short-term capital gains, are sent
annually to shareholders each January. The percentage of income earned from various government securities, if any, for the Blue Chip
Fund are also reported in January.
Minimum investment: $1,000 for regular and retirement accounts ($100 for additional investments for all accounts – except for the
Automatic Investment Plan, which is $50 for regular and retirement plan accounts).
Retirement plans: All types are offered including Traditional IRA, Roth IRA, Coverdell Education Savings Account, SIMPLE IRA
Plan, and SEP IRA.
Automatic Investment Plan: There is no charge to automatically debit your checking account to invest in the Blue Chip Fund ($50 minimum) at periodic intervals to make automatic purchases. This is useful for dollar cost averaging for the Blue Chip Fund.
Systematic Withdrawal Plan: For shareholders with a $10,000 minimum starting balance, there is no charge to automatically redeem
shares ($100 minimum) in the Blue Chip Fund as often as monthly and send a check to
you or transfer funds to your bank account.
NASDAQ symbol: Reynolds Blue Chip Growth Fund – RBCGX
Portfolio Manager: Frederick Reynolds is the portfolio manager of the Blue Chip Fund. He has been the portfolio manager of the Fund
since its inception in 1988.
The Blue Chip Fund is No-Load: No front-end sales commissions or
deferred sales charges (“loads”) are charged. Some mutual funds impose these marketing charges that are ultimately paid by the shareholder.
These marketing charges are either: (1) a front-end fee or “load” in which up to 5% of a shareholder’s assets are deducted from the original
investment (some funds even charge a fee when a shareholder reinvests capital gains or dividends); or (2) a back-end penalty fee or “load”
which is typically deducted from a shareholder’s account if a shareholder redeems within five years of the original investment. These fees
reduce a shareholder’s return. The Blue Chip Fund is No-Load as it does not have these
extra charges.
We appreciate your continued confidence in the Reynolds Blue Chip Growth Fund and would like to welcome our new shareholders.
We look forward to strong results in the future.
For more information, please download the latest Shareholder Report. |
