WESMARK BALANCED FUND
The Fund pursues its investment objectives by investing in a mix of equity, fixed income and money market investments. The Fund’s portfolio is constructed by the Adviser using an asset allocation process. The Adviser first determines the percentage of the Fund’s portfolio to invest in equity securities, the percentage to invest in fixed income securities
and the percentage to invest in money market investments. The percentage ranges of securities in each asset Class are: equity securities 30-70%; fixed income securities 30-70%; and money market investments 0-40%. The Adviser will then select securities for each asset class.

Within the equity allocation, the Adviser may use a blend of styles in selecting stocks, i.e. stocks may be selected for either their growth characteristics or value characteristics, or both.

Within the fixed income allocation the Adviser selects primarily U.S. dollar denominated
investment-grade fixed income securities rated in one of the top four ratings categories by a nationally recognized statistical ratings organization (NRSRO) or securities that are unrated but are determined by the Adviser to be of comparable quality. The Fund’s
Adviser allocates relatively more assets to the fixed-income security type that the Adviser expects to offer the best balance between capital appreciation and income and risk. The Adviser selects securities with longer or shorter durations based on its assessment of market conditions, but does not target any specific duration for the fixed-income portion of the Fund. Duration measures the price sensitivity of a fixed-income security to changes in interest rates. The Fund may invest in fixed income securities with
any maturity.

Within the money market allocation the Adviser selects short-term, high-quality, fixed income securities issued by banks, corporations and the U.S. government. The Fund may purchase exchange traded funds (ETFs) in order to achieve exposure to a specific market sector, or for other reasons consistent with its investment strategy. The shares of ETFs are listed and traded on stock exchanges at market prices. Within the equity allocation, the Adviser anticipates investing primarily in the common stock of domestic companies with large and medium market capitalizations and may use a blend of styles in selecting stocks, i.e. stocks may be selected for either their growth characteristics, or value characteristics, or both. However, the Adviser may also invest a portion of the equity allocation in foreign securities and common stocks of companies with small market capitalizations.

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