Global Capital Management, Inc. (GCM) replaced Schneider Capital Management as sub-adviser to the Quaker Mid-Cap Value Fund on Wednesday. Schneider Capital cited its plans to focus on its institutional business as its reason for stepping down.

"We are very pleased to offer investors access to our Mid-Cap strategy through the Quaker family of funds. We believe Quaker has a unique offering of funds and has positioned itself for strong long-term growth as advisors search for quality institutional managers in a conflict free mutual fund solution," said Anthony Soslow, GCM president and CIO.

The Quaker Mid-Cap Value Fund, which opened in December 1997, had more than $67 million in assets under management as of March 31, 2005.

GCM, which specializes in developing portfolios of mid- and small-cap stocks, had $250 million in assets under management as of March 31, 2005.

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