SUBADVISORY AGREEMENTSubadvisory Agreement • February 27th, 2018 • American Pension Investors Trust • Virginia
THIS AGREEMENT, entered into as of February_, 2017, by and between Yorktown Management & Research Company, Inc., a Maryland corporation (the “Adviser”), and Poplar Forest Capital LLC a Delaware limited liability company (the “Subadviser”).
INVESTMENT ADVISORY AGREEMENTInvestment Advisory Agreement • February 27th, 2018 • American Pension Investors Trust • Virginia
THIS AGREEMENT, entered into as of , 2017, by and between American Pension Investors Trust, d/b/a YORKTOWN FUNDS, a Massachusetts Business Trust (the “Trust”), and YORKTOWN MANAGEMENT & RESEARCH COMPANY, Inc., a Maryland corporation (the “Adviser”), registered as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”).
