Huntington Situs Fund pursues long-term capital appreciation by investing in a strategic combination of U.S. and foreign companies whose situs, or geographical locations, give them a competitive advantage and the potential to outperform. Fund manager B. Randolph Bateman seeks to identify companies with situs advantages such as favorable political, social or economic conditions or population demographics.

Founded with the ambition to change the ETF industry, PowerShares has combined three concepts to carry out “the Intelligent ETF Revolution.” The three elements of its strategy are: the development of ETFs with the characteristics of quantitative rules-based indices; the implementation of fundamental indexing; and the availability of “intelligent access” to thematic investment areas.

In the definition of Gabriel Wisdom and Mike Moore, managers of the Fallen Angels Value Fund, a fallen angel is not a distressed company or a turnaround story. It is a highquality company, temporarily on sale due to market inefficiencies. The crucial element of that strategy is getting the quality for the right price.

The Monetta Fund’s (MONTX) investment approach assumes that the markets are more efficient today than at any time in the past. Changing investor expectations are the driving force behind stock price movements, and price direction and volume tend to be harbingers of news in advance of its actual occurrence.

To be successful, investing doesn’t need to involve a fancy computer model or the stocks that everyone’s chasing. Just the opposite. James Potkul, the manager of the Bread and Butter Fund, believes that the contrarian value strategy, which is based on the simple idea of buying great companies at a discount, provides the best results at any market environment. Thorough research, careful analysis, and skillful stock picking, remain a must.

Oliver Kratz, the manager of the DWS Global Thematic Fund, spends his time looking for situations with enormous tailwinds that will occur over the next two or three years. It might be the global food troubles, the emerging market dynamics, a distressed company, or any situation where change is imminent. The key elements of his strategy are the focus on wealth creation, an open mind in the stage of research, and the strict science in portfolio construction.

The Adirondack Small Cap Fund seeks to achieve its objective by investing in a diversified portfolio of undervalued equity securities (traded on U.S. exchanges) of companies with market capitalizations of less than $3 billion. Fund managers Matt Reiner and Greg Roeder employ a contrarian selection strategy, which primarily focuses on out-of-favor securities. Market expectations for such companies are low, resulting in attractive valuations in certain cases.

Starting with the premise that the future is unpredictable, the Permanent Portfolio Fund does not try to guess where the markets are heading. Instead, the fund relies on a diversification model that seeks to provide protection and the chance to profit from multiple outcomes in the future. Discipline and process are key words for the fund but Michael Cuggino, its long-time manager, still has enough flexibility to benefit from short-term anomalies.