Tweedy, Browne International Value Fund (TBGVX)

The fund invests primarily in foreign equity securities that Tweedy, Browne Company LLC (the “Adviser” or “Tweedy, Browne”) believes are undervalued but may invest in U.S. securities to a limited extent. Under normal circumstances, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in securities of companies with value characteristics.