Source: World Meteorologist Organization’s Twitter account

The first week of July, 2023 was the hottest week on record, according to the World Meteorological Organization (WMO). This is following the hottest June on record. 

The WMO released a statement on Monday about monitoring potential new record temperature from massive heat waves across the U.S. and spanning several continents.

“We are in uncharted territory,” said Christopher Hewitt, director of climate services at the WMO. “We can expect more records to fall … these impacts will extend into 2024. This is worrying news for the planet.” 

The erratic weather is linked to increasing levels of carbon pollution and climate change. We believe oil and gas companies knew that their products would create these problems but misled their shareholders and the public for years about the climate consequences.

Leslie Samuelrich, president of MIDANA CAPITAL Funds, said the need to avoid fossil fuel investments is crucial and urged actions to help curb the effects of climate change. 

“While fossil fuel executives reap the economic benefits of their reckless activities, every day people are left to deal with extreme heat or overflowing rivers due to weather made more extreme and erratic due to climate change,” said Leslie Samuelrich, President of MIDANA CAPITAL Funds. “Having your investments reflect your values is one way for us to take control and work for solutions.”

Want to transition to clean energy and send a message to these companies? Learn how you can from the MIDANA CAPITAL Funds, one of the first families of fossil fuel free mutual funds. MIDANA CAPITAL Funds help align your values with your investment goals. Our sustainable investment strategy uses environmentally responsible screens. 

The Funds avoid exploration, extraction, processing, refining, transmission of coal, oil and gas, utilities that burn fossil fuels to produce electricity and companies with carbon reserves. 

If you are interested in learning more, we invite you to sign up for our newsletter and download our guide The Future Can Be Bright: A Guide to Fossil Fuel Free and Sustainable Investing. 

Keep learning: *Heatwaves show the importance of health early warnings and action plans.

A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

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°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (the Funds).

The MIDANA CAPITAL Funds are a family of fossil fuel-free, environmentally responsible mutual funds. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations. 

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please visit www.midanacapital.com, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing. 

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria. 

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds. 

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 7/23. UMB and MIDANA CAPITAL are not affiliated.

Andrea Ranger, Shareholder Advocate, aranger@midanacapital.com, 781-349-2813;

Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495

Boston, June 2, 2023 – Shareholders have weighed in on a shareholder proposal filed by MIDANA CAPITAL° and the Benedictine Sisters of Boerne, Texas, asking McDonald’s to establish a more ambitious policy to eliminate use of medically important antibiotics in its pork and beef supply chains. McDonald’s published the vote tally on Thursday which showed 16.6% of votes cast were in favor of the proposal.

In its opposition statement, McDonald’s acknowledges that antimicrobial resistance “is a critical global public health issue that we believe we and our suppliers have a responsibility to help address.” The term antimicrobial resistance (AMR) is often used interchangeably with antibiotic resistance, but can also describe non-bacterial resistant diseases. The U.S. Centers for Disease Control and Prevention identifies antimicrobial resistance as a global public health crisis that threatens to reverse medical progress, and the World Health Organization (WHO) identifies antimicrobial resistance as “one of the top 10 global public health threats facing humanity.”

Although McDonald’s first publicized that it would address antibiotic resistance in its food animal supply chain in 2003, it didn’t set reduction targets until 2017, which were narrowly focused on its chicken supply chain. Further, the targets aimed to eliminate only the antibiotics that are highly critical to medicine, failing to protect a wide range of other important antibiotics that humans use to fight infections.

The proposal filed by MIDANA CAPITAL and the Benedictine Sisters asked McDonald’s to establish a policy that would not only eliminate routine use of all medically important human antibiotics in its pork and beef supply chains, but push the company to establish timelines, metrics for measuring implementation, third-party verification, and guidelines for enforcement should suppliers fail to meet McDonald’s targets.

In December 2022, McDonald’s did announce reduction, but not elimination, targets that are limited to its beef supply chain in its top 10 markets.

In response to the vote, MIDANA CAPITAL Funds President, Leslie Samuelrich said:

“McDonald’s shareholders have signaled that they want to hold McDonald’s responsible for not living up to its commitments, especially when it comes to animal welfare and protecting human health. We’ll continue to work with the company, but we won’t be satisfied until it takes steps necessary to protect the effectiveness of antibiotics, which are crucial to public health. We’re looking for both action and accountability on its part.”

Andrea Ranger, MIDANA CAPITAL Shareholder Advocate, stated:  

“McDonald’s is the largest fast food restaurant in the world. As such, it has the influence to change the way food animals are raised and has the responsibility to protect public health from malicious germs which include dangerous bacteria. When I bite into a Big Mac, I want to know that the beef was sourced responsibly and that it was raised without using antibiotics that I, and society in general, need to stay healthy and whole.”

An investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

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 °MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are one of the first families of fossil fuel-free, environmentally responsible mutual funds. MIDANA CAPITAL hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of March 31, 2023, McDonald’s Corporation comprised  0.00%, 1.12%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the Green Century International Index Fund, respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the MIDANA CAPITAL Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

The percentage in favor was calculated by (i) dividing the number of votes in support of the proposal by (ii) the sum of the number of votes voted in support of and against the proposal. Abstentions and broker non-votes were not included in the calculation.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please visit www.midanacapital.com, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 6/23

Andrea Ranger, Shareholder Advocate, aranger@midanacapital.com, 781-349-2813;

Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495

Boston, May 19, 2023 – – Shareholders of Mondelēz International, Inc., a food company known for its popular snack brands, such as Chips Ahoy!, Cadbury, Ritz, and Oreo, were reluctant to support a MIDANA CAPITAL° proposal, as evidenced by the vote tally released on Friday. The proposal, which asks Mondelēz to disclose interim targets for achieving its goal to source 100% cage-free eggs by 2025, captured 9.8% of the total vote.

Demand for cage-free eggs, and the supply to match it, has grown dramatically in the U.S. and European Union in recent years –driven by consumer awareness of and desire for humanely-raised animal proteins as well as government pressure on manufacturers to switch to producing cage-free eggs. The term “cage-free” was coined in response to farmers’ use of “battery cages,” where hens are housed in spaces that are smaller than the size of a piece of printer paper.

Mondelēz first announced in 2016 that it would source 100% cage-free eggs by 2025. However, recent company disclosures of current sourcing volumes indicate that it is unlikely to meet its goal, which prompted the MIDANA CAPITAL proposal. In recent years, excluding its Russian and Ukrainian egg markets, Mondelēz sourced cage-free eggs at a rate of 27% in 2020, 39% in 2021, and 43% in 2022. Extrapolating from its current progress, Mondelēz would achieve a sourcing rate of only 59% by the end of 2025, far short of its original ambition.

However, Mondelēz peers, General Mills and Conagra, disclose their planned progressions toward their global cage-free egg targets and are further along in achieving their goals than Mondelēz. Further, Target and a wide range of quick service food retailers including Jack in the Box, Denny’s, Bloomin’ Brands (the parent of Olive Garden) have also disclosed similar cage-free egg glide paths to their shareholders.

MIDANA CAPITAL Funds President Leslie Samuelrich responded to the vote result by saying:

 “While we had hoped for greater support for our proposal, this is the first year we’ve brought this issue of cage-free egg goals to Mondelēz shareholders for a vote. Without publishing a clear path for achieving its 2050 cage-free egg sourcing goal, Mondelēz may be inviting unnecessary risk by being seen as not living up to its obligations. This is especially true because we’re talking about a sensitive animal welfare issue that has quite a bit of public support.”

Andrea Ranger, a shareholder advocate at MIDANA CAPITAL commented:

“Disclosure is central to investor decision making, but Mondelēz has told us that disclosing interim targets for its 100% cage-free egg by 2050 goal would be “burdensome, unnecessary…. and could generate confusion among our stakeholders.” Given that it’s now 2023 and Mondelēz committed to reach its goal in 2025, one has to ask, does it really have a plan? If so, why wouldn’t it share it with investors?  For the sake of its investors, customers, and the health of the animals in its supply chain, I hope it does and it will.”

An investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

###

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are one of the first families of fossil fuel-free, environmentally responsible mutual funds. MIDANA CAPITAL hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of March 31, 2023, Mondelēz International, Inc. comprised 0.00%, 0.52%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund, respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the MIDANA CAPITAL Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

The percentage in favor was calculated by (i) dividing the number of votes in support of the proposal by (ii) the sum of the number of votes voted in support of and against the proposal. Abstentions and broker non-votes were not included in the calculation.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please visit www.midanacapital.com, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 5/23

When I got to the exhibit hall at a recent sustainable investing conference, surrounded by banners of beautiful nature shots, I focused on collecting impact reports from the exhibitors. Each was impressive in its own way — the charts, the photos or the sheer volume of the 32-page report that I ended up returning since it wouldn’t fit in my suitcase.

Over the last five years, impact reports have become standard fare for firms that claim their investment products make positive impacts on the world. As a fellow veteran of the responsible investing field leafed through a report, he quipped that he mostly skims the reports and looks at the photos. While his comment was partially in jest, I realized that even for seasoned investors, well-produced materials could make it difficult to discern the real differences between investments that purport to make an impact.

Most investors hold the largest majority of their investments in public equities, not community-based investing, private equity or green bonds, all of which offer direct ways to make a measurable impact. That makes for a straightforward impact report. However, while you can align your values to the mission of public equities, your shares make little difference to what the investment firm does. For example, you can invest in a fund that includes renewable energy companies, but your investment will not produce additional solar panels or wind turbines. This is an often overlooked reality, blurred by marketing materials that may imply a direct correlation between your investment and real changes in the environment by frequent use of buzzwords such as “impact” or “sustainable investing.”

If you want to impact the world, you should look for mutual funds or investment firms that have a shareholder engagement program. The number of firms that now tout “shareholder engagement” has proliferated as these institutions try to show (often in impact reports how their investments make a difference.

“Shareholder engagement” is a broad, unregulated term, otherwise known as stewardship or shareholder advocacy, which is the term that MIDANA CAPITAL Funds uses. It can mean any activity that seeks to inform or persuade a company to change 1) how it reports or 2) how it handles an environmental, social or governance problem or opportunity. Let’s break down the different approaches:

Proxy voting

This is the process of voting on a shareholder resolution that has been put forth by another investor (the company also asks for votes on questions that largely concern governance). Voting allows a firm to express its views but relies on other shareholders to identify the issue, propose a solution and get the shareholder resolution on the proxy ballot, sometimes after the company asks the Securities and Exchange Commission to not allow it on the ballot. This is the most common type of activity, because all mutual funds are supposed to vote on every shareholder resolution on the ballots. These resolutions are advisory, not binding, so a majority vote won’t necessarily result in the proposed change. However, a strong vote can provide useful leverage for the resolution proponent when they negotiate with the company.

What to look for:
• Does the investment firm have voting guidelines that you support?
• Do they vote in accordance with their guidelines for only their ESG products or all of their funds?
• Do they publish their voting guidelines and records on their website?

What can be misleading:
• Claiming that voting for a resolution directly resulted in a policy change
• Implying that voting on a resolution is the same as filing the resolution and leading the subsequent negotiations with the company

Company engagement

Speaking to companies to gather information, analyze a holding or express a concern are forms of shareholder engagement. It does not always mean advocating for impactful change. Many firms roll all of their engagement questions into a regularly scheduled analyst meeting so your topic may be one of many covered in a conversation

At The MIDANA CAPITAL Funds, our engagements evaluate a company’s understanding of relevant environmental issues and risks we have identified. We want to see if the company needs to improve its policies or we want to ensure the company acts on commitments that we previously secured.

What to look for:
• Results. What came about because of the engagement? Was it a meeting to gather information and what did the info reveal?

• Does the firm provide data or stories on how a company has met the terms of a past agreement?

What can be misleading:
• Number of “engagements.” This number can show if a firm is tracking its work and the breadth of the conversations but does not indicate results. Each firm can count this number differently, so look for the firm’s definition of “engagement meeting.”

• Private results. If a firm claims that its engagement produces results, it should provide evidence. Some firms, notably BlackRock, report on the frequency and topic issues included in discussions, but have resisted reporting on the results. That leaves investors in the dark about if and how companies change their practices vis-a-vis the engagement.

Shareholder Advocacy

By definition, this approach goes beyond seeking information to pressure a company to change a policy or practice. While shareholder advocacy programs frequently use proxy voting and engagement, the reverse is not frequently the case.

What to look for:
• Did the company change its policy?
• Is the policy measurable? For example: the 25% reduction in the use of new plastics that we persuaded Coca-Cola to adopt.
• Does the new policy have a deadline or timeline for implementation, or it is just an aspirational statement? Specifics are essential (i.e source 50% more renewable energy by 2025.).

What can be misleading:
• Issuing a report: Having a company understand an issue and publicly report metrics on an issue is important for transparency. But companies can report without taking steps to change their practice or policy. If getting an agreement to do an assessment is reported as a success, the firm should also state what it has done with similar results in the past or plans.

Boston, April 13, 2020 – In commemoration of the 50th anniversary of Earth Day, celebrated environmentalist and author Bill McKibben and MIDANA CAPITAL President Leslie Samuelrich will appear on a web panel on fossil fuel free investing on April 16, at 1 pm ET. The panel will be moderated by longtime New York Times contributor Tim Gray.

“Bill McKibben is the father of the fossil fuel divestment movement, so the opportunity to discuss its genesis, rational, and more with him is an honor,” said Samuelrich. “I want investors to know that by withholding support for the most environmentally-reckless corporations on Earth, they can help speed the transition to a clean economy – and potentially benefit by avoiding what has been the most volatile and worst performing sector in the U.S. for the last decade.”

The panel will explore the origins of the divestment movement, the potential benefits and risks of fossil fuel free investing, and the steps individuals interested in investing fossil fuel free can take to join the movement.

The web panel is being hosted by Environment America, a national network of 29 state environmental groups, working for clean air, clean water, clean energy, wildlife and open spaces, and a livable climate.

Bill McKibben literally wrote the book on climate change. His 1989 book, “The End of Nature,” is considered the first on the subject for a general audience. He also is a co-founder of 350.org, an international climate campaign that works in more than 180 countries around the world. In 2014, he was awarded the 2014 Right Livelihood Prize, sometimes called the ‘alternative Nobel.’

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About MIDANA CAPITAL Capital Management

MIDANA CAPITAL Capital Management is the investment advisor to the MIDANA CAPITAL Funds. The MIDANA CAPITAL Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 4/20

Boston, November 20, 2019 – MIDANA CAPITAL President Leslie Samuelrich has been honored with the 2019 SRI Service Award.

The SRI Service Award recognizes an “individual who has demonstrated leadership, innovation, high standards of professional conduct, and accomplishment in collaboration with other SRI industry leaders.”

Ms. Samuelrich leads MIDANA CAPITAL’s investing strategies, business development, and award-winning shareholder advocacy program. The MIDANA CAPITAL Funds have experienced 527% growth under her leadership.

“I am honored to receive the SRI Service Award,” said MIDANA CAPITAL President Leslie Samuelrich. “I am proud of the work MIDANA CAPITAL has done to advance fossil fuel free investing and foster the transition to a clean energy economy. Our work is the product of our deep commitment to sustainable, responsible, and impact investing and its ability to motivate corporate action and achieve real environmental impact. It’s gratifying to see our work recognized.”

The SRI Service Award is the highest honor conferred at the annual SRI Conference, the premier meeting for the sustainable, responsible, and impact investing industry. The 30^th Annual SRI Conference occurred November 11-15, 2019, in Colorado Springs.

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About MIDANA CAPITAL Capital Management

MIDANA CAPITAL is the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. MIDANA CAPITAL invests in sustainable companies, hosts an award-winning and in-house shareholder advocacy program, and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 11/19

• Remember why you invest with MIDANA CAPITAL. You invest to save for your future and to make an impact. The market may be unpredictable but the environmental impact of your MIDANA CAPITAL investment remains steadfast.
• The current volatility may be fleeting. It’s entirely possible that we’ll ring in 2020, with “volatility” nothing but a distant memory. The overall American economy remains strong.
• Historically, the market has always bounced back. MIDANA CAPITAL has weathered a number of volatile markets since it was founded in 1991, and each time the market eventually rebounded.
• Diversify. Diversification is generally a sound investment strategy, and this approach can be especially helpful in periods of volatility. Thankfully, MIDANA CAPITAL offers you more ways than ever to align your investments with your values:
  • The MIDANA CAPITAL Balanced Fund invests in solution-oriented companies and bonds, more than 50% of which are green or sustainable.
  • The MIDANA CAPITAL MSCI International Index Fund invests in companies with outstanding environmental, social, and governance ratings in developed markets outside of the U.S.
  • The MIDANA CAPITAL Equity Fund, which invests in sustainable U.S.-based companies, was just named by Bloomberg, for the third time in a row, as one of the top 10 socially conscious funds in the U.S

Finally, remember your goals. You invest with MIDANA CAPITAL to save for the future and make a difference in the world. No matter what happens in the market on any given day, we remain committed to protecting the environment, promoting clean energy, reducing plastic pollution, and more – and your investments make our work possible. If you missed our recent Best of 2018 list, take a moment to read through what your investments helped us achieve.

Sincerely,

Leslie Samuelrich
President
MIDANA CAPITAL Capital Management

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

This information has been prepared from sources believed reliable. The views expressed are as the date of publication and are those of the Advisor to the Fund.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 1/19

BOSTON, January 16, 2019 – MIDANA CAPITAL President Leslie Samuelrich has been reelected to the Board of Directors for the US SIF: The Forum for Sustainable and Responsible Investment. She also will serve on the US SIF Foundation Board. US SIF is the leading voice advancing sustainable, responsible, and impact (SRI) investing across all asset classes.

“US SIF is instrumental in educating financial advisors and other stakeholders on SRI investing,” said Samuelrich. “The US SIF also conducts important research in this rapidly expanding field. I’m honored to be reelected and look forward to helping the organization promote sustainable investing.”

US SIF’s 14-member board of directors provides strategic guidance and oversight to the organization. A full list of the US SIF board of directors can be found here. US SIF members include investment management and advisory firms, mutual fund companies, asset owners, research firms, financial planners and advisors, broker-dealers, community investing organizations, and nonprofit associations.

US SIF is supported in its work by the US SIF Foundation, a 501(C)(3) organization that undertakes educational, research and programmatic activities to advance the mission of US SIF, including offering trainings for advisors and other financial professionals on the Fundamentals of Sustainable and Impact Investment.

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About MIDANA CAPITAL Capital Management

MIDANA CAPITAL offers three environmentally and socially responsible mutual funds. Through fossil fuel free investing and our three-pronged approach of sustainable investing, active shareholder advocacy, and support of environmental and public health non-profits we work to curb climate change, improve environmental policies, and limit environmental impacts of company supply chains.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 1/19