Methodology

The Wall Street Fund, Inc. was organized as a Maryland corporation on December 26, 1945.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Statement of Additional Information, "Description of Shares".

“The Fund was organized as a Maryland corporation on December 26, 1945 and has an authorized capital of 5,000,000 Shares.”

Note. The same filing states the fund "was launched on December 23, 1945" (prospectus, Past Performance footnote 1) and lists Articles of Incorporation dated December 21, 1945 (Part C, Item 23(a)(1)). The current successor website gives an inception date of 12/24/45. Four December 1945 dates therefore appear across the record; they most plausibly describe different corporate events (articles signed, first offering or launch, and state filing), an inference the archive labels as such.

The fund's 2005 registration statement states that the fund was launched on December 23, 1945.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Past Performance", footnote (1) to the Average Annual Total Return table.

“The Fund was launched on December 23, 1945.”

Note. See C-001 and C-003 for alternative December 1945 dates.

The fund's Articles of Incorporation were dated December 21, 1945, with Articles of Amendment dated March 19, 1946 and September 29, 1969.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Part C, Item 23, Exhibits (a)(1)–(a)(3).

The current Evercore Equity Fund website reports an inception date of 12/24/45 and states that the fund was previously known as the Wall Street Fund (WALLX).

Evercore Equity Fund — official fund website — Homepage, fund overview.

“The fund was previously known as the Wall Street Fund (WALLX) and was launched in December, 1945.”

Note. Contemporaneous 2005 filing gives December 23 (launch) and December 26 (organization). The December 24 date is a current successor characterization rather than a contemporaneous record.

The fund was registered under the Investment Company Act of 1940 under File No. 811-00515 and under the Securities Act of 1933 under File No. 2-10822.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Facing page.

In 2005 the fund listed its website as http://www.thewallstreetfund.com and a contact e-mail at the same domain.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus cover block and back cover, "Additional Information".

“http://www.thewallstreetfund.com | e-mail: mrl@thewallstreetfund.com”

The fund's primary investment objective was growth of capital, pursued principally through a diversified portfolio of common stocks; current income was a secondary objective.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Investment Objective and Policies".

“The Wall Street Fund, Inc.'s (the "Fund") primary investment objective is to produce growth of capital.”

The 2005 prospectus described three fundamental practices: careful selection of securities, broad diversification among industries and companies, and continuous scrutiny of investments.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Investment Objective and Policies", bulleted list.

The investment adviser and principal underwriter in 2005 was Wall Street Management Corporation (WSMC), a Massachusetts corporation organized September 15, 1954, which had served as adviser since its organization.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — SAI, "Information About Adviser"; Prospectus, "Management of the Fund".

“WSMC, the Fund's investment adviser and principal underwriter ... is a Massachusetts corporation organized on September 15, 1954. It has served as the Fund's investment adviser since its organization.”

Note. The prospectus body says WSMC "was founded in 1954" and omits the month; the SAI supplies the September 15, 1954 date. The identity of the fund's adviser between 1945 and 1954 remains an open question in the supplied record.

Robert P. Morse served as Chairman, President and Director of the fund and was responsible for its day-to-day management from 1984; he was President and sole Director of WSMC and a co-founder of Morse, Williams & Co., Inc., an affiliated adviser established in 1981.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Management of the Fund"; SAI, "Interested Directors & Officers" table.

As of 2005 the board consisted of independent directors Clifton H.W. Maloney (since 1985) and Harlan K. Ullman, Ph.D. (since 1984) and interested director Robert P. Morse; officers included James L. Farrell, Jr., Ph.D. (Executive Vice President), Laurence R. Golding (Vice President), Michael R. Linburn (Vice President, Secretary and Chief Compliance Officer) and Jian H. Wang (Vice President and Treasurer).

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — SAI, "Management of the Fund" tables; Prospectus back cover.

Note. The SAI text says the board "currently consists of five (5) members" while the tables and back cover name three directors. The archive records the named individuals and flags the count as an internal inconsistency in the draft filing.

The advisory fee in 2005 was 0.50% of average daily net assets annually; the adviser agreed to limit total expenses to 2.00% of the first $10 million, 1.50% of the next $20 million and 1.00% of the balance of average daily net assets.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Fees & Expenses" and "Management of the Fund".

For 2004 the fund disclosed total annual operating expenses of 1.92% before a 0.07% waiver, 1.85% net; other expenses of 1.42% included a 0.25% shareholder servicing fee; the fund charged no 12b-1 fee and no shareholder sales fees.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Fees & Expenses" table.

Audited financial highlights for 1996–2004 show annual total returns of 36.50% (1996), 11.45% (1997), −2.37% (1998), 31.40% (1999), 62.88% (2000), 3.41% (2001), −23.15% (2002), −36.34% (2003), and 49.90% (2004), assuming reinvestment of all dividends and distributions, with year-end net assets ranging from $11.6 million (2003) to $22.6 million (2001).

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Financial Highlights" table (audited by PricewaterhouseCoopers LLP).

Note. The column order in the supplied table shifts by one position relative to the year headers; values were mapped by cross-checking beginning and ending net asset values across adjacent years (e.g., 2003 ends at $4.87 and 2004 begins at $4.87). The archive's methodology note describes this reconciliation. The 1995 column is present in the header and was left blank in the draft.

The fund's best quarter as of the 2005 prospectus was Q4 1999 (40.83%) and its worst quarter was Q3 2001 (−27.77%).

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Past Performance".

Note. The average annual total return table in the same draft was left blank; the archive therefore reports the quarterly extremes alone from this source and leaves 1-, 5- and 10-year averages to a later, completed filing.

Portfolio turnover ranged from 92.59% (2001) to 165.84% (1999) across 1996–2004.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Financial Highlights", portfolio turnover row.

In 2005 the custodian was U.S. Bank, National Association (Cincinnati), the transfer agent was U.S. Bancorp Fund Services, LLC (Milwaukee), and the independent registered public accounting firm was PricewaterhouseCoopers LLP (Milwaukee).

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus back matter listing service providers.

A Custody Agreement between the fund and U.S. Bank, N.A. dated July 20, 2001 was amended as of May 18, 2010 to replace the fee schedule (Exhibit C).

The Wall Street Fund, Inc., Amendment to the Custody Agreement (dated as of May 18, 2010) with U.S. Bank, N.A. — Amendment recitals and operative clause.

“THIS AMENDMENT dated as of this 18th day of May, 2010, to the Custody Agreement dated as of July 20, 2001, as amended”

Note. Copy obtained from a secondary aggregator with signatures redacted and fee amounts blank. Locating the EDGAR exhibit is an open item.

Evercore Wealth Management, LLC has served as investment adviser to the fund and its predecessor since May 1, 2010.

Wall Street EWM Funds Trust (Evercore Equity Fund), Form N-1A, Post-Effective Amendment No. 19 / Amendment No. 20 (Form Type 485BPOS) — SAI, "Information About Adviser".

“The Adviser has served as the investment adviser to the Fund and the Predecessor Fund since May 1, 2010.”

Note. The mechanism of the 2010 adviser change (acquisition, assignment, or new contract) is described in the supplied records only as the adviser having served since that date. The current Evercore website characterizes it as an acquisition of the fund in 2010; the archive labels that as the successor's characterization.

Wall Street EWM Funds Trust was organized as a Delaware statutory trust on April 12, 2011.

Wall Street EWM Funds Trust (Evercore Equity Fund), Form N-1A, Post-Effective Amendment No. 19 / Amendment No. 20 (Form Type 485BPOS) — SAI, opening paragraph.

On September 15, 2014, shareholders of The Wall Street Fund, Inc. approved its reorganization into the series of Wall Street EWM Funds Trust.

Wall Street EWM Funds Trust (Evercore Equity Fund), Form N-1A, Post-Effective Amendment No. 19 / Amendment No. 20 (Form Type 485BPOS) — SAI, opening paragraph.

“On September 15, 2014, the shareholders of the Predecessor Fund approved the reorganization of the Predecessor Fund into the Fund”

The fund made a final distribution to its shareholders based on net asset value on September 30, 2014, having transferred its assets to a corresponding series of Wall Street EWM Funds Trust; reorganization expenses of $74,844 were paid by the fund and its investment adviser.

Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940, Release No. IC-32456, 82 Fed. Reg. 9087 (Feb. 2, 2017) — 82 FR 9088, "The Wall Street Fund, Inc. [File No. 811-00515]", Summary.

“Applicant has transferred its assets to a corresponding series of the Wall Street EWM Funds Trust and, on September 30, 2014, made a final distribution to its shareholders based on net asset value. Expenses of $74,844 incurred in connection with the reorganization were paid by applicant and applicant's investment adviser.”

Note. The successor's 2019 filing gives the effective transfer date as the close of business on October 1, 2014. The two dates are reconcilable as the distribution date recorded by the applicant and the effective date recorded by the successor; the archive presents both and labels each by its type.

Effective as of the close of business on October 1, 2014, the assets of The Wall Street Fund, Inc. were transferred to the successor fund in exchange for shares and the successor's assumption of liabilities; the successor adopted the predecessor's performance and financial history.

Wall Street EWM Funds Trust (Evercore Equity Fund), Form N-1A, Post-Effective Amendment No. 19 / Amendment No. 20 (Form Type 485BPOS) — SAI, opening paragraph; Prospectus, "Bar Chart and Performance".

On March 1, 2016, the successor fund's name changed from "The Wall Street Fund" to "Evercore Equity Fund."

Wall Street EWM Funds Trust (Evercore Equity Fund), Form N-1A, Post-Effective Amendment No. 19 / Amendment No. 20 (Form Type 485BPOS) — SAI, opening paragraph.

“On March 1, 2016, the Fund's name changed from "The Wall Street Fund" to "Evercore Equity Fund."”

The Wall Street Fund, Inc. filed an application for deregistration under Section 8(f) of the Investment Company Act on December 20, 2016, giving its address as 55 East 52nd Street, 23rd Floor, New York, New York 10055.

Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940, Release No. IC-32456, 82 Fed. Reg. 9087 (Feb. 2, 2017) — 82 FR 9088, Filing Date and Applicant's Address.

The SEC's notice of the deregistration application, Release No. IC-32456 dated January 27, 2017, was published in the Federal Register on February 2, 2017 (82 FR 9087), with hearing requests due by 5:30 p.m. on February 21, 2017.

Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940, Release No. IC-32456, 82 Fed. Reg. 9087 (Feb. 2, 2017) — 82 FR 9087, heading and introductory paragraph.

Note. The subsequent deregistration order itself was outside the supplied record set; confirming the order date is an open research item.

Evercore Equity Fund is the sole series of Wall Street EWM Funds Trust and trades under the symbol EWMCX.

Wall Street EWM Funds Trust (Evercore Equity Fund), Form N-1A, Post-Effective Amendment No. 19 / Amendment No. 20 (Form Type 485BPOS) — Prospectus cover; SAI opening paragraph.

The successor fund's advisory fee under the 2019 filing was 0.75% of average daily net assets, and its distributor was Quasar Distributors, LLC.

Wall Street EWM Funds Trust (Evercore Equity Fund), Form N-1A, Post-Effective Amendment No. 19 / Amendment No. 20 (Form Type 485BPOS) — SAI, "Description of the Advisory Fee"; "Principal Underwriter".

Portfolio managers of the successor fund as of 2019 were Timothy Evnin (since 2010, including the predecessor), Charles D. Ryan (since December 2011) and Michael Seppelt, CFA (with the fund since February 2014).

Wall Street EWM Funds Trust (Evercore Equity Fund), Form N-1A, Post-Effective Amendment No. 19 / Amendment No. 20 (Form Type 485BPOS) — Prospectus, "Portfolio Managers".

Section 8(f) of the Investment Company Act authorizes the SEC, upon application, to declare that a registered investment company has ceased to be an investment company, whereupon its registration ceases to be in effect.

Investment Company Act of 1940, Section 8(f), 15 U.S.C. § 80a-8(f) — 15 U.S.C. § 80a-8(f).

The fund's 2005 filing was signed off with principal executive offices at 230 Park Avenue, Suite 1635, New York, New York 10169 and counsel Foley & Lardner (Milwaukee).

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Facing page.

The 2005 prospectus described the fund as a diversified mutual fund investing in common stocks of growth-oriented companies, generally companies in business for at least three years, across small, medium and large capitalizations, and stated that the adviser rarely invested more than 3% of net asset value at cost in any one security.

The Wall Street Fund, Inc., Form N-1A, Post-Effective Amendment No. 61 / Amendment No. 62 (Form Type 485APOS) — Prospectus, "Investment Objective and Policies" and "Risk Factors".