KPRKX — KP Retirement Path 2065 Fund

KPRKX Fund Overview

KPRKX — KP Retirement Path 2065 Fund is a US mutual fund managed by Kp Funds, categorised as Target Date / Glide Path Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Kp Funds
• Category: Target Date / Glide Path Allocation
• Assets under management: $16.97M
• 1-year return: 7.8%
• Ticker: KPRKX
• SEC CIK: 0001573386
• SEC series ID: S000065383
• Share class ID: C000211482

KPRKX Investment Objective and Strategy

KP Retirement Path 2065 Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Kp Funds.

Investment objective

"The KP Retirement Path 2065 Fund (the ""Fund"") seeks to achieve a balance of long-term capital growth, inflation protection, and current income by investing in a diversified mix of asset classes and investment strategies that becomes increasingly conservative over the life of the Fund."

Principal investment strategy

"The Fund pursues its investment objective by investing in a combination of KP Asset Class Funds to which Callan LLC (the ""Adviser""), the Fund's investment adviser, also serves as investment adviser (""Affiliated Underlying Funds"") and other unaffiliated mutual funds (""Unaffiliated Underlying Funds"" and together with Affiliated Underlying Funds, the ""Underlying Funds""). Because the Fund invests in other mutual funds, it is considered a ""fund of funds."" The Fund has a target asset allocation based on years to assumed retirement age (age 65) which the Adviser uses as a reference point in setting the Fund's asset allocation. The Fund's target date year (2065) refers to the approximate year an investor in the Fund would plan to retire, would stop making new investments in the Fund, and would plan to begin gradually withdrawing from the Fund.

The target asset allocation will change over time to become increasingly conservative through the Fund's target date year (2065), and for five years thereafter in effort to provide greater capital appreciation for the first five years following an investor's assumed retirement age. When the Fund's target asset allocation is substantially the same as that of the KP Retirement Path Retirement Income Fund, the Fund may be merged into the KP Retirement Path Retirement Income Fund at the discretion of the Board of Trustees (the ""Board"") of The KP Funds (the ""Trust""). In general this means that the Fund's target allocation to equity securities will decrease and its target allocation to fixed income and inflation managed securities will increase over time in accordance with a ""glide path."" The Fund's target allocation to real assets will remain within a relatively narrow range over time.

The graph below represents this glide path and illustrates the range of the Fund's target exposure to equity, fixed income, inflation managed, and real asset investments over time. [LINE GRAPH OMITTED - PLOT POINTS AS FOLLOWS] Years From Retirement Age Large Cap Equity Small Cap Equity International Equity Real Assets Inflation Protection Fixed Income Short-Term Fixed Income 45 20 39.00% 14.00% 31.00% 5.00% 0.00% 11.00% 0.00% 40 25 39.00% 14.00% 31.00% 5.00% 0.00% 11.00% 0.00% 35 30 39.00% 14.00% 31.00% 5.00% 0.00% 11.00% 0.00% 30 35 38.00% 14.00% 30.00% 5.00% 0.00% 13.00% 0.00% 25 40 37.00% 13.00% 29.00% 6.00% 0.00% 15.00% 0.00% 20 45 36.00% 12.00% 26.00% 8.00% 0.00% 18.00% 0.00% 15 50 34.00% 10.00% 22.00% 9.00% 1.00% 22.00% 2.00% 10 55 31.00% 8.00% 17.00% 10.00% 3.00% 27.00% 4.00% 5 60 26.00% 6.00% 13.00% 10.00% 5.00% 33.00% 7.00% 0 65 21.00% 4.00% 9.00% 10.00% 7.00% 40.00% 9.00% -5 70 18.00% 3.00% 7.00% 10.00% 8.00% 44.00% 10.00% The Fund's target asset allocation may differ from the Fund's actual asset allocation.

The Adviser regularly reviews the actual asset allocation and may adjust it based on the target investment horizon, on current or expected market conditions or to manage risk. In making its asset allocation decisions, the Adviser uses in addition to the target investment horizon, a proprietary mix of quantitative and qualitative inputs, such as return forecasts for asset classes and investment guidelines. Based on the desired exposure to particular investments and risk analysis, the Adviser then decides in which Underlying Funds to invest and in which proportions. The Underlying Funds use a broad array of investment styles and may invest in many types of assets issued by domestic and foreign issuers in accordance with their own investment objectives, consisting of common stocks of U.S. and foreign companies of any size; corporate bonds issued by U.S.

and foreign companies of varying credit quality (including bonds that are rated below investment grade, or ""junk"" bonds); debt securities issued or guaranteed by the U.S. government and foreign governments and their agencies and instrumentalities, political subdivisions of foreign governments, and supranational organizations; Treasury Inflation-Protected Securities (""TIPS""); depositary receipts; real-estate-related securities (including equity and mortgage real estate investment trusts (""REITs"")); mortgage- and asset-backed securities; senior, second lien and subordinated floating rate loans; floating rate debt securities and money market instruments. Underlying Funds may also invest in various derivatives in accordance with their respective investment strategies, consisting of interest rate swaps, securities index swaps, credit default swaps, currency swaps, credit-linked notes, structured notes, futures contracts and forward contracts."

KPRKX Performance

Total returns for KPRKX (as of 2026-10-01), from SEC filings.

KPRKX Risk Information

Risk metrics for KPRKX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 21.5%

KPRKX Costs and Fees

KPRKX costs about $45 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.45%
• Gross expense ratio: 0.61%
• Portfolio turnover: 12%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

KPRKX Cashflows

Over the 12 months to 2020-09, KP Retirement Path 2065 Fund had net inflows of $41.00M, from monthly SEC N-PORT filings.

KPRKX Debt Constituents

No individual debt constituents are reported in KP Retirement Path 2065 Fund's latest SEC N-PORT filing.

KPRKX Prospectus and SEC Filings

Official KP Retirement Path 2065 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-05-14
• Prospectus (485BPOS) — filed 2019-05-14
• Portfolio holdings (N-PORT) — filed 2020-11-25
• Portfolio holdings (N-PORT) — filed 2020-08-26
• Portfolio holdings (N-PORT) — filed 2020-05-29
• Annual census (N-CEN) — filed 2020-03-16

Related Funds

Other Target Date / Glide Path Allocation funds tracked on ABC INVEST:

• Vanguard Target Retirement 2035 Fund (VTTHX)
• Vanguard Target Retirement 2045 Fund (VTIVX)
• Vanguard Target Retirement 2040 Fund (VFORX)
• Vanguard Target Retirement 2030 Fund (VTHRX)
• Vanguard Target Retirement 2050 Fund (VFIFX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.