American Beacon Month-End Fund Performance

Information as of 03/31/2017

All performance is historical and does not represent future results. The value of an investment in the equity and bond funds will fluctuate up and down. When you sell your shares of these funds, they could be worth more or less than you paid for them.

Performance presented below may include historical performance of other classes. Please see the performance notes at the bottom of the page for more information.

  • Excluding Maximum Sales Charge
  • Including Maximum Sales Charge
Institutional
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility** ACDIX 1.69         1.36§ 8.647.56-0.25- 0.23     9/27/2013
AHL Managed Futures Strategy AHLIX 2.26         1.55¥ 1.05-3.74-- 4.78     8/19/2014
Alpha Quant Core AQCIX 1.13         0.70 ---- 0.60     3/22/2017
Alpha Quant Dividend AQDIX 1.13         0.70 ---- -0.50     3/22/2017
Alpha Quant Quality AQQIX 1.13         0.70 ---- -0.20     3/22/2017
Alpha Quant Value AQVVX 1.13         0.70 ---- 1.60     3/22/2017
ARK Transformational Innovation ADNIX 2.50         1.00 ---- 7.60     1/27/2017
Bahl & Gaynor Small Cap Growth GBSIX 3.05         0.99Φ 2.4326.94-- 11.47     7/15/2014
Balanced AADBX 0.63         0.63 2.6114.225.538.75 5.71     7/17/1987
Bridgeway Large Cap Growth BRLGX 1.00         0.82π 6.7414.6410.6114.27 7.78     10/31/2003
Bridgeway Large Cap Value BRLVX 0.75         0.79 2.3816.459.0914.67 7.51     10/31/2003
Crescent Short Duration High Income ACHIX 1.28         0.86§ 1.5810.25-- 3.46     10/1/2014
Flexible Bond AFXIX 1.14         0.91π 2.305.631.171.85 2.31     7/5/2011
Garcia Hamilton Quality Bond GHQIX 1.06         0.45Ω 0.93--- -0.55     4/4/2016
GLG Total Return GLGIX 1.66         1.06Ω 3.15--- 9.43     5/20/2016
Global Evolution Frontier Markets Income** AGEIX 1.15         1.16 5.2015.484.60- 4.84     2/25/2014
Grosvenor Long/Short GVRIX 10.00         2.57§ 3.4611.08-- 6.40     10/1/2015
Holland Large Cap Growth LHGIX 0.89         0.90 8.5312.748.4910.72 8.44     3/1/2010 Inv 4/29/96
International Equity AAIEX 0.70         0.70 6.9510.73-0.765.79 1.42     8/7/1991
Ionic Strategic Arbitrage IONIX 3.26         2.55Φ -0.111.582.54- 2.86     9/1/2013
Large Cap Value AADEX 0.60         0.60 3.6621.076.6111.87 5.87     7/17/1987
Mid-Cap Value AACIX 0.90         0.90 5.3022.327.9113.39 7.71     11/30/2005
Numeric Integrated Alpha NIAIX 6.17         6.08 0.89--- 2.40     11/1/2016
SGA Global Growth SGAGX 2.63         0.99§ 9.5414.578.488.49 9.83     12/31/2010
SiM High Yield Opportunities SHOIX 0.92         0.85π 2.5415.054.997.75 7.35     2/14/2011
Small Cap Value AVFIX 0.84         0.84 1.0525.007.8013.06 7.70     12/31/1998
Sound Point Floating Rate Income SPFLX 1.28         0.86π 1.367.715.48- 6.39     12/3/2012
Stephens Mid-Cap Growth SFMIX 1.02         1.00Φ 9.5121.136.009.71 8.13     8/31/2006
Stephens Small Cap Growth STSIX 1.09         1.09 4.7421.302.698.84 7.46     8/31/2006
The London Company Income Equity ABCIX 0.76         0.78 4.7013.479.40- 13.16     5/29/2012
Zebra Small Cap Equity AZSIX 1.54         0.90π -0.3124.809.0413.44 14.36     6/1/2010


Investor
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility** ACDPX 1.99         1.74§ 8.587.20-0.59- -0.12     9/27/2013
AHL Managed Futures Strategy AHLPX 2.41         1.93¥ 0.97-4.04-- 4.36     8/19/2014
Alpha Quant Core AQCPX 1.51         1.08 ---- 0.60     3/22/2017
Alpha Quant Dividend AQDPX 1.51         1.08 ---- -0.50     3/22/2017
Alpha Quant Quality AQQPX 1.51         1.08 ---- -0.30     3/22/2017
Alpha Quant Value AQVPX 1.51         1.08 ---- 1.60     3/22/2017
ARK Transformational Innovation ADNPX 2.88         1.38 ---- 7.50     1/27/2017
Bahl & Gaynor Small Cap Growth GBSPX 3.20         1.37Φ 2.3726.54-- 11.07     7/15/2014
Balanced AABPX 0.96         0.96 2.5613.755.158.37 5.36     8/1/1994
Bridgeway Large Cap Growth BLYPX 1.37         1.20π 6.6414.1610.4514.17 7.73     2/5/2016 Instl 10/31/03
Bridgeway Large Cap Value BWLIX 1.09         1.09 2.3116.038.7514.29 7.33     2/3/2012 Instl 10/31/03
Crescent Short Duration High Income ACHPX 1.47         1.24§ 1.489.83-- 3.08     10/1/2014
Flexible Bond AFXPX 1.43         1.28π 2.255.250.791.47 2.00     7/5/2011
Garcia Hamilton Quality Bond GHQPX 1.19         0.83Ω 0.73--- -0.92     4/4/2016
GLG Total Return GLGPX 2.04         1.44Ω 3.07--- 9.03     5/20/2016
Global Evolution Frontier Markets Income** AGEPX 1.45         1.54 5.0414.994.22- 4.47     2/25/2014
Grosvenor Long/Short GVRPX 13.33         2.95§ 3.3810.70-- 6.01     10/1/2015
Holland Large Cap Growth LHGFX 1.25         1.25 8.4712.348.1110.33 8.21     4/29/1996
International Equity AAIPX 1.07         1.07 6.8910.37-1.105.42 1.08     8/1/1994
Ionic Strategic Arbitrage IONPX 3.93         2.93Φ -0.221.272.37- 2.71     6/30/2015 Instl 09/01/13
Large Cap Value AAGPX 0.93         0.93 3.5720.686.2411.47 5.51     8/1/1994
Mid-Cap Value AMPAX 1.13         1.13 5.2422.157.7013.13 7.51     2/28/2006
Numeric Integrated Alpha NIAPX 6.55         6.46 0.79--- 2.30     11/1/2016
SGA Global Growth SGAPX 3.09         1.37§ 9.4614.158.098.21 9.60     10/4/2013 Instl 12/31/10
SiM High Yield Opportunities SHYPX 1.18         1.19 2.4814.644.637.40 6.92     2/14/2011
Small Cap Value AVPAX 1.15         1.15 0.9724.597.4412.67 7.34     2/28/1999
Sound Point Floating Rate Income SPFPX 1.33         1.24π 1.327.445.28- 6.25     12/11/2015 Instl 12/03/12
Stephens Mid-Cap Growth STMGX 1.33         1.36 9.3920.685.589.30 7.79     2/1/2006
Stephens Small Cap Growth STSGX 1.41         1.36Φ 4.7321.082.418.54 7.18     12/1/2005
The London Company Income Equity ABCVX 1.07         1.07 4.5613.099.03- 12.78     5/29/2012
Zebra Small Cap Equity AZSPX 1.75         1.28π -0.3824.348.6413.02 13.93     6/1/2010


Advisor
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Balanced ABLSX 1.13         1.13 2.4913.625.008.21 5.18     5/31/2005 Inv 8/1/94
International Equity AAISX 1.20         1.20 6.8410.31-1.225.28 0.88     5/1/2003
Large Cap Value AVASX 1.08         1.08 3.5320.526.1011.32 5.35     5/31/2005 Inv 8/1/94
Mid-Cap Value AMCSX 1.41         1.41 5.1421.727.3612.81 7.22     6/29/2007 Inv 2/28/06
Small Cap Value AASSX 1.32         1.32 0.9524.377.2712.51 7.16     5/1/2003



Y
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility** ACDYX 1.78         1.46§ 8.677.47-0.33- 0.13     9/27/2013
AHL Managed Futures Strategy AHLYX 2.29         1.65¥ 1.06-3.84-- 4.67     8/19/2014
Alpha Quant Core AQCYX 1.23         0.80 ---- 0.60     3/22/2017
Alpha Quant Dividend AQDYX 1.23         0.80 ---- -0.50     3/22/2017
Alpha Quant Quality AQQYX 1.23         0.80 ---- -0.30     3/22/2017
Alpha Quant Value AQVYX 1.23         0.80 ---- 1.60     3/22/2017
ARK Transformational Innovation ADNYX 2.60         1.10 ---- 7.60     1/27/2017
Bahl & Gaynor Small Cap Growth GBSYX 2.77         1.09Φ 2.3526.89-- 11.38     7/15/2014
Balanced ACBYX 0.73         0.73 2.5914.305.498.69 5.64     3/1/2010 Instl 7/17/87
Bridgeway Large Cap Growth BLYYX 1.10         0.92π 6.7514.5510.5914.25 7.77     2/5/2016 Instl 10/31/03
Bridgeway Large Cap Value BWLYX 0.81         0.81 2.3816.389.0514.59 7.47     2/3/2012 Instl 10/31/03
Crescent Short Duration High Income ACHYX 1.30         0.96§ 1.5510.02-- 3.33     10/1/2014
Flexible Bond AFXYX 1.20         1.00π 2.305.501.061.74 2.20     7/5/2011
Garcia Hamilton Quality Bond GHQYX 1.29         0.55Ω 0.91--- -0.65     4/4/2016
GLG Total Return GLGYX 1.76         1.16Ω 3.16--- 9.33     5/20/2016
Global Evolution Frontier Markets Income** AGEYX 1.19         1.26 5.1915.384.49- 4.77     2/25/2014
Grosvenor Long/Short GVRYX 13.10         2.67§ 3.3710.99-- 6.27     10/1/2015
Holland Large Cap Growth LHGYX 1.09         1.00Φ 8.4612.608.3310.57 8.36     3/23/2012 Inv 4/29/96, Instl 3/1/10
International Equity ABEYX 0.78         0.78 6.9310.68-0.835.69 1.35     8/3/2009 Instl 8/7/91
Ionic Strategic Arbitrage IONYX 3.22         2.65Φ -0.221.462.54- 2.86     6/30/2015 Instl 09/01/13
Large Cap Value ABLYX 0.67         0.67 3.6521.046.5311.78 5.80     8/3/2009 Instl 7/17/87
Mid-Cap Value ACMYX 0.97         0.97 5.2722.357.8613.33 7.66     3/1/2010
Numeric Integrated Alpha NIAYX 6.27         6.18 0.89--- 2.40     11/1/2016
SGA Global Growth SGAYX 2.73         1.09§ 9.5014.478.388.41 9.77     10/4/2013 Instl 12/31/10
SiM High Yield Opportunities SHOYX 0.92         0.92 2.5315.014.917.68 7.23     2/14/2011
Small Cap Value ABSYX 0.91         0.91 1.0624.927.7212.96 7.60     8/3/2009 Instl 12/31/98
Sound Point Floating Rate Income SPFYX 1.44         0.96π 1.357.635.37- 6.32     12/11/2015 Instl 12/03/12
Stephens Mid-Cap Growth SMFYX 1.07         1.10 9.5021.015.899.63 7.95     2/24/2012 Inv 2/1/06
Stephens Small Cap Growth SPWYX 1.15         1.15 4.7621.252.608.75 7.28     2/24/2012 Inv 12/1/05
The London Company Income Equity ABCYX 0.83         0.83 4.6313.379.32- 13.08     5/29/2012
Zebra Small Cap Equity AZSYX 1.59         1.00π -0.3124.658.9313.34 14.25     6/1/2010


A
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility** ACDAX 2.11         1.76§ 8.567.16-0.62- -0.18     9/27/2013
AHL Managed Futures Strategy AHLAX 2.56         1.95¥ 0.87-4.13-- 4.32     8/19/2014
Bahl & Gaynor Small Cap Growth GBSAX 2.89         1.39Φ 2.2926.44-- 11.04     7/15/2014
Balanced ABFAX 1.03         1.03 2.4913.625.088.25 5.28     5/17/2010 Inv 8/1/94
Bridgeway Large Cap Growth BLYAX 1.40         1.22π 6.6414.1610.4614.18 7.73     2/5/2016 Instl 10/31/03
Bridgeway Large Cap Value BWLAX 1.12         1.12 2.2915.978.6914.17 7.27     2/3/2012 Instl 10/31/03
Crescent Short Duration High Income ACHAX 1.56         1.26§ 1.489.81-- 3.01     10/1/2014
Flexible Bond AFXAX 1.53         1.30π 2.155.120.761.39 1.87     7/5/2011
GLG Total Return GLGAX 2.06         1.46Ω 3.07--- 9.03     5/20/2016
Global Evolution Frontier Markets Income** AGUAX 1.53         1.56 5.0514.944.18- 4.42     2/25/2014
Grosvenor Long/Short GSVAX 12.81         2.97§ 3.2810.59-- 5.95     10/1/2015
Holland Large Cap Growth LHGAX 1.30         1.30 8.4212.298.0510.23 8.15     2/1/2010 Inv 4/29/96
International Equity AIEAX 1.08         1.08 6.9010.34-1.145.31 1.00     5/17/2010 Inv 8/1/94
Ionic Strategic Arbitrage IONAX 6.94         2.95Φ -0.221.272.37- 2.71     6/30/2015 Instl 09/01/13
Large Cap Value ALVAX 0.98         0.98 3.5720.666.1911.37 5.44     5/17/2010 Inv 8/1/94
Mid-Cap Value ABMAX 1.27         1.27 5.2121.927.5012.90 7.27     5/17/2010 Inv 2/28/06
SGA Global Growth SGAAX 3.06         1.39§ 9.3914.098.058.18 9.58     10/4/2013 Instl 12/31/10
SiM High Yield Opportunities SHOAX 1.24         1.25 2.4614.524.557.27 6.85     2/14/2011
Small Cap Value ABSAX 1.22         1.22 0.9524.547.3612.55 7.24     5/17/2010 Inv 2/28/99
Sound Point Floating Rate Income SOUAX 1.69         1.26π 1.287.175.22- 6.21     12/11/2015 Instl 12/03/12
Stephens Mid-Cap Growth SMFAX 1.37         1.40 9.4120.595.569.23 7.76     2/24/2012 Inv 2/1/06
Stephens Small Cap Growth SPWAX 1.45         1.49 4.6320.862.288.36 7.09     2/24/2012 Inv 12/1/05
The London Company Income Equity ABCAX 1.14         1.14 4.5713.028.96- 12.67     5/29/2012
Zebra Small Cap Equity AZSAX 1.91         1.30π -0.3724.328.6012.96 13.86     6/1/2010


Select
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
U.S. Government Money Market AAOXX 0.15         0.15 0.130.350.150.11 0.71     12/1/2001


C
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Acadian Emerging Markets Managed Volatility** ACDCX 2.88         2.51§ 8.316.29-1.37- -0.93     9/27/2013
AHL Managed Futures Strategy AHLCX 3.33         2.70¥ 0.78-4.82-- 3.57     8/19/2014
Bahl & Gaynor Small Cap Growth GBSCX 3.85         2.14Φ 2.1725.55-- 10.20     7/15/2014
Balanced ABCCX 1.78         1.78 2.3312.804.307.45 4.76     9/1/2010 Inv 8/1/94
Bridgeway Large Cap Growth BLYCX 2.15         1.97π 6.4813.3010.1313.97 7.64     2/5/2016 Instl 10/31/03
Bridgeway Large Cap Value BWLCX 1.87         1.87 2.1015.087.8813.37 6.88     2/3/2012 Instl 10/31/03
Crescent Short Duration High Income ACHCX 2.37         2.01§ 1.298.87-- 2.25     10/1/2014
Flexible Bond AFXCX 2.27         2.05π 1.964.32-0.030.62 1.21     7/5/2011
GLG Total Return GLRCX 2.81         2.21Ω 2.83--- 8.26     5/20/2016
Global Evolution Frontier Markets Income** AGECX 2.32         2.31§ 4.8414.253.46- 3.64     2/25/2014
Grosvenor Long/Short GVRCX 14.24         3.72§ 3.129.82-- 5.17     10/1/2015
Holland Large Cap Growth LHGCX 2.06         2.05Φ 8.2011.457.249.40 7.74     3/23/2012 Inv 4/29/96, A 2/1/10
International Equity AILCX 1.86         1.86 6.679.52-1.884.54 0.49     9/1/2010 Inv 8/1/94
Ionic Strategic Arbitrage IONCX 7.73         3.70Φ -0.450.431.90- 2.31     6/30/2015 Instl 09/01/13
Large Cap Value ALVCX 1.74         1.74 3.3919.745.3910.52 4.91     9/1/2010 Inv 8/1/94
Mid-Cap Value AMCCX 2.05         2.05 4.9420.966.6812.06 6.74     9/1/2010 Inv 2/28/06
SGA Global Growth SGACX 3.77         2.14§ 9.2113.297.267.62 9.12     10/4/2013 Instl 12/31/10
SiM High Yield Opportunities SHOCX 1.98         2.00 2.2613.773.786.49 6.09     2/14/2011
Small Cap Value ASVCX 1.97         1.97 0.7923.606.5611.71 6.70     9/1/2010 Inv 2/28/99
Sound Point Floating Rate Income SOUCX 2.57         2.01π 0.996.364.88- 5.97     12/11/2015 Instl 12/03/12
Stephens Mid-Cap Growth SMFCX 2.12         2.15 9.1519.724.768.44 7.35     2/24/2012 Inv 2/1/06
Stephens Small Cap Growth SPWCX 2.20         2.27 4.4919.871.517.55 6.68     2/24/2012 Inv 12/1/05
The London Company Income Equity ABECX 1.88         1.88 4.4112.228.17- 11.84     5/29/2012
Zebra Small Cap Equity AZSCX 2.66         2.05π -0.5823.407.7612.09 13.02     9/1/2010 Inv 6/1/10


SP
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
Sound Point Floating Rate Income SPFRX 1.51         1.17π 1.497.635.27- 6.25     5/30/2014 Instl 12/03/12


Ultra
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
GLG Total Return GLGUX 1.56         0.96Ω 3.15--- 9.43     5/20/2016
Numeric Integrated Alpha NIAUX 6.07         5.98 0.98--- 2.60     11/1/2016


R6
Fund NameTickerGross
Expense
Ratio
Net
Expense
Ratio
YTD1 YR3 YR5 YR10 YR / Since
Inception
Inception
Date
Previous Class
Inception
Date
International Equity AAERX 0.67         0.67 6.9510.73-0.765.79 1.42     2/28/2017
Large Cap Value AALRX 0.58         0.58 3.6621.076.6111.87 5.87     2/28/2017
Small Cap Value AASRX 0.82         0.82 1.0525.007.8013.06 7.70     2/28/2017

Periods more than one year have been annualized.

*Redemption fee (2%, 90-day holding period).

Performance shown is historical and is not indicative of future returns. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance shown is as of date indicated, and current performance may be lower or higher than the performance data quoted. To obtain performance as of the most recent month end, please call 800.967.9009 or visit americanbeaconfunds.com.

Important Information: All investing involves risk, including possible loss of principal. Please note that the recent growth rate in the securities market has helped to produce short-term returns that are not typical and may not continue in the future.

Maximum Sales Charge is the maximum front-end sales charge (load) imposed on purchases (as a % offering price).

Maximum deferred sales charges: A Class – 0.50%. A contingent deferred sales charge (“CDSC”) of 0.50% will be charged on certain purchases of $1,000,000 or more of A Class shares that are redeemed in whole or part within 18 months of purchase.

Class C shares may be subject to a contingent deferred sales charge of up to 1% on certain redemptions made within 12 months of purchase. Performance presented at NAV, which does not include these sales charges, would be lower if these charges were reflected.

Maximum Sales Charge is 5.75% for the following Funds: Acadian Emerging Markets Managed Volatility, AHL Managed Futures Strategy, Bahl & Gaynor Small Cap Growth, Balanced, Bridgeway Large Cap Growth, Bridgeway Large Cap Value, Grosvenor Long/Short, International Equity, Large Cap Value, Mid-Cap Value, SGA Global Growth, Small Cap Value, Stephens Mid-Cap Growth, Stephens Small Cap Growth, The London Company Income Equity and Zebra Small Cap Equity.

Maximum Sales Charge is 4.75% for the following Funds: Flexible Bond, GLG Total Return, Global Evolution Frontier Markets Income, Ionic Strategic Arbitrage and SiM High Yield Opportunities.

Maximum Sales Charge is 2.50% for the following Funds: Crescent Short Duration High Income and Sound Point Floating Rate Income.


EXPENSE RATIOS ASSOCIATED WITH THE FUNDS

¥The net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through April 29, 2017.
The net expense ratio may reflect waivers/reimbursements and expenses that American Beacon Advisors has recovered during the period.
The net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through October 28, 2018.
§The net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through May 31, 2017.
The net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through May 31, 2018.
πThe net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through December 31, 2017.
ΩThe net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through February 28, 2018.
ΦThe net expense ratio may reflect fees and expenses that American Beacon Advisors has contractually agreed to reduce and/or reimburse through April 30, 2017.

RISKS ASSOCIATED WITH THE FUNDS

All investing involves risk, including possible loss of principal. There can be no assurances that the investment objectives of any Fund will be met. The Funds are subject to the highlighted risks described below. Please see the prospectus for a complete discussion of Fund risks.

Acadian Emerging Markets Managed Volatility: Foreign and emerging market securities, lower volatility securities, futures contracts and securities lending.

AHL Managed Futures Strategy: Derivative instruments, quantitative models, foreign and emerging market securities, regulatory changes, high portfolio turnover and fewer issuers.

Alpha Quant Core: Growth stocks, value stocks, medium-capitalization stocks and securities lending.

Alpha Quant Dividend: Dividend-paying stocks, growth stocks, value stocks, fewer issuers, medium-capitalization stocks and securities lending.

Alpha Quant Quality: Growth stocks, value stocks, fewer issuers, medium-capitalization stocks and securities lending.

Alpha Quant Value: Value stocks, fewer issuers, medium-capitalization stocks and securites lending.

ARK Transformational Innovation: Fewer issuers, disruptive innovation, foreign securities, regulatory changes, securities lending, Information Technology sector, Health Care sector and Industrials sector.

Bahl & Gaynor Small Cap Growth: Small-capitalization stocks, foreign securities, growth stocks, futures contracts and securities lending.

Balanced: Fixed-income securities, foreign securities, value stocks, futures contracts and securities lending.

Bridgeway Large Cap Growth: Growth stocks, foreign securities, capital gains, futures contracts and securities lending.

Bridgeway Large Cap Value: Value stocks, foreign securities, capital gains, futures contracts and securities lending.

Crescent Short Duration High Income: High-yield securities, including loans, restricted securities and floating rate securities and foreign securities.

Flexible Bond: Derivative instruments, high-yield securities, including loans, restricted securities and floating rate securities, flexible approach and foreign and emerging market securities.

Garcia Hamilton Quality Bond: Fixed-income securities and credit risk.

GLG Total Return: Foreign and emerging market securities, derivative instruments, fixed-income securities and fewer issuers.

Global Evolution Frontier Markets Income: Foreign, emerging and frontier market securities, derivative instruments and fixed-income securities.

Grosvenor Long/Short: Long/short strategies, fewer issuers, high portfolio turnover, small- and medium-capitalization stocks, foreign securities, derivative instruments and short sales.

International Equity: Foreign securities, value stocks, futures contracts and securities lending.

Ionic Strategic Arbitrage: Arbitrage strategies, fewer issuers, high portfolio turnover, small-capitalization stocks, medium-capitalization stocks, fixed-income securities, including convertible securities, foreign securities, derivative instruments and short sales.

Large Cap Value: Value stocks, foreign securities, futures contracts and securities lending.

Mid-Cap Value: Medium-capitalization stocks, value stocks, foreign securities, futures contracts and securities lending.

Numeric Integrated Alpha: Long/short strategies, short sales, derivative instruments, foreign and emerging market securities, fewer issuers, high portfolio turnover, small- and medium-capitalization stocks.

SGA Global Growth: Foreign and emerging market securities, growth stocks, futures contracts and securities lending.

Shapiro Equity Opportunities: Value stocks, fewer issuers, securities lending and futures contracts.

Shapiro SMID Cap Equity: Value stocks, small- or mid-capitalization stocks, fewer issuers, securities lending and futures contracts.

SiM High Yield Opportunities: High-yield securities, including loans, restricted securities and floating rate securities, foreign and emerging market securities and derivative instruments.

Small Cap Value: Small-capitalization stocks, value stocks, foreign securities, futures contracts and securities lending.

Sound Point Floating Rate Income: High-yield securities, including loans, restricted securities and floating rate securities and loans.

Stephens Mid-Cap Growth: Growth stocks, medium-capitalization stocks, foreign securities and securities lending.

Stephens Small Cap Growth: Growth stocks, small-capitalization stocks, foreign securities and securities lending.

The London Company Income Equity: Small- and medium-capitalization stocks, foreign securities, dividend-paying stocks, fixed-income securities, fewer issuers, futures contracts and securities lending.

TwentyFour Strategic Income: Derivative instruments, high-yield securities, including loans, restricted securities and floating rate securities, fewer issuers, foreign and emerging market securities

U.S. Government Money Market Select: You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Zebra Small Cap Equity: Small-capitalization stocks, foreign securities, limited marketability, futures contracts and securities lending.

Risk Descriptions

The Fund’s strategy of investing in a variety of arbitrage strategies entails certain risks including that the sub-advisor’s judgments about allocation between such strategies, as well as individual arbitrage opportunities, may not perform to expectations, resulting in the Fund’s underperformance or even losses versus other similar funds. Arbitrage is the simultaneous purchase and sale of an asset or assets to take advantage of a perceived pricing anomaly.

Although the Fund is managed pursuant to a tax management strategy, the Fund’s investments could create capital gains.

Credit risk is the risk that the issuer of a bond will fail to make timely payment of interest or principal; and the decline in an issuer’s credit rating can cause the price of its bonds to go down.

Derivative instruments may involve liquidity, credit, interest rate and market risks and, in some cases, the addition of financial leverage, which can magnify these risks.

Companies that the sub-advisor believes are capitalizing on disruptive innovation and developing technologies to displace older technologies or create new markets may not in fact do so. To the extent the Fund invests more heavily in particular sectors, its performance will be sensitive to factors affecting those sectors: Information Technology sector companies may face intense competition and rapid product obsolescence, have limited product lines, markets, financial resources or personnel, and lose patent, copyright and trademark protections; investing in Health Care sector companies involves risk due to government regulations, product litigation, competitive forces and loss of patent protection; Industrials sector companies are subject to risk due to changes in government regulations, world events, economic conditions, environmental damages, product liability claims and exchange rates.

Investing in dividend-paying stocks may result in less earnings growth or capital appreciation than investing in non-dividend paying stocks.

Because the Fund may invest in fewer issuers than a more diversified portfolio, the fluctuating value of a single holding may have a greater effect on the value of the Fund.

The use of fixed-income securities, including convertible securities, entails interest rate and credit risks. In addition, the value of a convertible security could fluctuate based on the value of the underlying stock.

Although the Fund has a flexible approach to investing, diversification does not ensure against loss.

Foreign, emerging and frontier market securities may involve heightened risks due to currency fluctuations and economic and political risks.

The use of futures contracts for cash management may subject the Fund to losing more money than invested.

Growth stocks are typically more volatile than value stocks; however, value stocks have a lower expected growth rate in earnings and sales.

High portfolio turnover may increase a Fund’s transaction costs and possibly have a negative impact on performance.

High-yield securities may include loans, restricted securities and floating-rate securities that are subject to greater levels of credit, interest rate, market and liquidity risks than investment-grade securities.

At times, certain securities may have limited marketability and may be difficult to sell.

The Fund’s strategy of investing in a variety of long/short strategies entails certain risks including that the lead sub-advisor’s judgements about allocation between such strategies, as well as the selection of the sub-advisors and their subsequent individual investment decisions, may not perform to expectations resulting in the Fund’s underperformance or even losses versus other similar funds.

Loans subject a Fund to the risk that it may not be able to obtain the collateral securing the loan in a timely manner, and the value of the collateral may not cover the amount owed on the loan.

Lower volatility securities may produce more modest gains than other stock funds as a trade-off for the potentially lower downside risk.

Medium-capitalization stocks may involve greater volatility and lower liquidity than larger company stocks.

Quantitative model investing may lead to high levels of trading and concentration among certain investments, resulting in higher trading costs and return volatility.

Regulatory changes may impair the Fund’s ability to qualify for federal income tax treatment as a regulated investment company, which could result in the Fund and shareholders incurring significant income tax expense.

The Fund may participate in a securities lending program.

Short sales involve special risks, including greater reliance on the sub-advisor’s ability to accurately anticipate the future value of a security or instrument; the Fund’s losses are potentially unlimited in a short sale.

Small-capitalization stocks may involve greater volatility and lower liquidity than larger company stocks.

Value stocks may limit downside risk over time; however, they may produce more modest gains than riskier stock funds as a trade-off for this potentially lower risk.

Performance Associated with EACH Class of the Funds

Acadian Emerging Markets Managed Volatility: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

AHL Managed Futures Strategy: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Alpha Quant Core: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Alpha Quant Dividend: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Alpha Quant Quality: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Alpha Quant Value: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

ARK Transformational Innovation: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Bahl & Gaynor Small Cap Growth: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Bridgeway Large Cap Growth: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Crescent Short Duration High Income: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Flexible Bond: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Garcia Hamilton Quality Bond: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Grosvenor Long/Short: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Numeric Integrated Alpha: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

SGA Global Growth: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Shapiro Equity Opportunities: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Shapiro SMID Cap Equity: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

TwentyFour Strategic Income: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Zebra Small Cap Equity: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Performance Associated with the INSTITUTIONAL Class Funds

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived from 2008 through 2013, partially recovered in 2014 and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2008 through 2013.

GLG Total Return: A portion of fees charged to the Fund was waived from Fund inception through 2017 and partially recovered in 2018. Performance prior to waiving fees was lower than actual returns shown through 2017.

Global Evolution Frontier Markets Income: A portion of fees charged to the Fund was waived from Fund inception through 2015, partially recovered in 2016, and waived in 2017 and 2018. Performance prior to waiving fees was lower than actual returns shown through 2015 and in 2017 and 2018.

International Equity: A portion of fees charged to the Fund was waived from 2013 through 2015. Performance prior to waiving fees was lower than actual returns shown from 2013 through 2015.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund has been waived since June 30, 2015. Performance prior to waiving fees was lower than actual returns shown since June 30, 2015.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2007 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2007 through 2013.

SiM High Yield Opportunities: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Sound Point Floating Rate Income Fund: A portion of fees charged to the Fund has been waived from Fund inception through 2017 and partially recovered in 2018. Performance prior to waiving fees was lower than actual returns shown from Fund inception through 2017.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived from 2006 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2006 through 2013.

The London Company Income Equity Fund: A portion of fees charged to the Fund was waived from 2012 through 2014 and fully recovered in 2015 and 2016. Performance prior to waiving fees was lower than actual returns shown from 2012 through 2014.

Performance Associated with the INVESTOR Class Funds

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived in 2012 and fully recovered in 2013. Performance prior to waiving fees was lower than actual returns shown in 2012.

GLG Total Return: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Global Evolution Frontier Markets Income: A portion of fees charged to the Fund was waived from Fund inception through 2015, partially recovered in 2016, waived in 2017, and partially recovered in 2018. Performance prior to waiving fees was lower than actual returns shown through 2015 and in 2017.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund was waived in 2015 and partially recovered in 2016 and 2017. Performance prior to waiving fees was lower than actual returns shown in 2015.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2006 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2006 through 2013.

SiM High Yield Opportunities: A portion of fees charged to the Fund was waived in 2011 and 2012 and partially recovered in 2013 and 2016. Performance prior to waiving fees was lower than actual returns shown in 2011 and 2012.

Sound Point Floating Rate Income Fund: A portion of fees charged to the Fund was waived from Class inception through 2016 and fully recovered in 2017.  Performance prior to waiving fees was lower than actual returns shown from Class inception through 2016.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund was waived from 2006 through 2013, fully recovered in 2014 and 2015, and waived in 2017. Performance prior to waiving fees was lower than actual returns shown from 2006 through 2013 and in 2017.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived from 2005 through 2013, fully recovered in 2014, waived in 2015 and fully recovered in 2017. Performance prior to waiving fees was lower than actual returns shown from 2005 through 2013 and in 2015.

The London Company Income Equity Fund: A portion of fees charged to the Fund was waived in 2012 and 2013 and fully recovered in 2014 and 2015. Performance prior to waiving fees was lower than actual returns shown in 2012 and 2013.

Performance Associated with the Y Class Funds

Balanced: A portion of fees charged to the Fund was waived in 2011, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2011.

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived in 2012, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2012.

GLG Total Return: A portion of fees charged to the Fund has been waived since Fund inception. Performance prior to waiving fees was lower than actual returns shown since inception.

Global Evolution Frontier Markets: A portion of fees charged to the Fund was waived from Fund inception through 2015, partially recovered in 2016, waived in 2017, and partially recovered in 2018. Performance prior to waiving fees was lower than actual returns shown through 2015 and in 2017.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund was waived from June 30, 2015 through 2016 and was partially recovered in 2017. Performance prior to waiving fees was lower than actual returns shown in 2015 and 2016.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2010 through 2013. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2013.

SiM High Yield Opportunities: A portion of fees charged to the Fund was waived from 2011 through 2013, partially recovered in 2015, and waived in 2016. Performance prior to waiving fees was lower than actual returns shown from 2011 through 2013 and in 2016.

Sound Point Floating Rate Income Fund: A portion of fees charged to the Fund was waived from Class inception through 2016 and fully recovered in 2017.  Performance prior to waiving fees was lower than actual returns shown from Class inception through 2016.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund was waived in 2012 and 2013, fully recovered in 2014 and 2015, and waived in 2017. Performance prior to waiving fees was lower than actual returns shown in 2012, 2013 and 2017.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived in 2012 and 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2012 and 2013.

The London Company Income Equity Fund: A portion of fees charged to the Fund was waived from 2012 through 2014 and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2012 through 2014.

Performance Associated with the A Class Funds

Balanced: A portion of fees charged to the Fund was waived in 2011 and 2012, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2011 and 2012.

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived in 2012 and 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2012 and 2013.

GLG Total Return: A portion of fees charged to the Fund was waived from Fund inception through 2017 and partially recovered in 2018. Performance prior to waiving fees was lower than actual returns shown through 2017.

Global Evolution Frontier Markets Income: A portion of fees charged to the Fund was waived from Fund inception through 2015, partially recovered in 2016, and waived in 2017, and partially recovered in 2018. Performance prior to waiving fees was lower than actual returns shown through 2015 and in 2017.

International Equity: A portion of fees charged to the Fund was waived from 2010 through 2012 and partially recovered in 2013.  Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund was waived from June 30, 2015 through 2016 and was partially recovered in 2017. Performance prior to waiving fees was lower than actual returns shown in 2015 and 2016.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2010 through 2012 and fully recovered in 2013. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

SiM High Yield Opportunities: A portion of fees charged to the Fund was waived from 2011 through 2014 and partially recovered in 2015 and 2016. Performance prior to waiving fees was lower than actual returns shown from 2011 through 2014.

Small Cap Value: A portion of fees charged to the Fund was waived in 2010, 2012, 2013 and 2014 and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown in 2010, 2012, 2013 and 2014.

Sound Point Floating Rate Income Fund: A portion of fees charged to the Fund was waived from Class inception through 2016 and partially recovered in 2017 and 2018. Performance prior to waiving fees was lower than actual returns shown from Class inception through 2016.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund was waived in 2012 and 2013, fully recovered in 2015 and waived in 2016 and 2017. Performance prior to waiving fees was lower than actual returns shown in 2012, 2013, 2016 and 2017.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived in 2012, partially recovered in 2013 and 2014, and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown in 2012.

The London Company Income Equity Fund: A portion of fees charged to the Fund was waived from 2012 through 2014 and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2012 through 2014.

Performance Associated with the C Class Funds

Balanced: A portion of fees charged to the Fund was waived from 2010 through 2012, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

Bridgeway Large Cap Value: A portion of fees charged to the Fund was waived in 2012 and 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown in 2012 and 2013.

GLG Total Return: A portion of fees charged to the Fund was waived from Fund inception through 2017 and partially recovered in 2018. Performance prior to waiving fees was lower than actual returns shown through 2017.

Global Evolution Frontier Markets Income: A portion of fees charged to the Fund was waived from Fund inception through 2017 and was partially recovered in 2018. Performance prior to waiving fees was lower than actual returns shown through 2017.

International Equity: A portion of fees charged to the Fund was waived from 2010 through 2012 and partially recovered in 2013 and 2015. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

Ionic Strategic Arbitrage: A portion of fees charged to the Fund was waived from June 30, 2015 through 2016 and was partially recovered in 2017. Performance prior to waiving fees was lower than actual returns shown in 2015 and 2016.

Large Cap Value: A portion of fees charged to the Fund was waived from 2010 through 2012, partially recovered in 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2012.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2010 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2010 through 2013.

SiM High Yield Opportunities: A portion of fees charged to the Fund was waived from 2011 through 2014 and partially recovered in 2015 and 2016. Performance prior to waiving fees was lower than actual returns shown from 2011 through 2014.

Small Cap Value: A portion of fees charged to the Fund was waived in 2010, 2012 and 2013 and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown in 2010, 2012 and 2013.

Sound Point Floating Rate Income Fund: A portion of fees charged to the Fund was waived from Class inception through 2016 and partially recovered in 2017 and 2018. Performance prior to waiving fees was lower than actual returns shown from Class inception through 2016.

Stephens Mid-Cap Growth: A portion of fees charged to the Fund was waived from 2012 through 2014, fully recovered in 2015 and waived in 2016 and 2017. Performance prior to waiving fees was lower than actual returns shown in 2012, 2013, 2014, 2016 and 2017.

Stephens Small Cap Growth: A portion of fees charged to the Fund was waived in 2012, partially recovered in 2013 and 2014, and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown in 2012.

The London Company Income Equity Fund: A portion of fees charged to the Fund was waived from 2012 through 2014 and fully recovered in 2015. Performance prior to waiving fees was lower than actual returns shown from 2012 through 2014.

Performance Associated with the ADVISOR Class Funds

International Equity: A portion of fees charged to the Fund was waived in 2006, 2007 and 2009. Performance prior to waiving fees was lower than actual returns shown for these periods.

Mid-Cap Value: A portion of fees charged to the Fund was waived from 2007 through 2013 and fully recovered in 2014. Performance prior to waiving fees was lower than actual returns shown from 2007 through 2013.

Small Cap Value: A portion of fees charged to the Fund was waived in 2009. Performance prior to waiving fees was lower than actual returns shown in 2009.

Performance Associated with the R6 Class Funds

Bridgeway Large Cap Value: A portion of fees charged to the Fund has been waived since February 28, 2017. Performance prior to waiving fees was lower than actual returns shown.

International Equity: A portion of fees charged to the Fund has been waived since February 28, 2017. Performance prior to waiving fees was lower than actual returns shown.

Large Cap Value: A portion of fees charged to the Fund has been waived since February 28, 2017. Performance prior to waiving fees was lower than actual returns shown.

Small Cap Value: A portion of fees charged to the Fund has been waived since February 28, 2017. Performance prior to waiving fees was lower than actual returns shown.

Performance Associated with the SP Class Fund

Sound Point Floating Rate Income Fund: A portion of fees charged to the Fund was waived from Class inception through 2016 and partially recovered in 2017 and 2018. Performance prior to waiving fees was lower than actual returns shown from Class inception through 2016.

Performance Associated with the U.S. Government Money Market Select Fund

A portion of fees charged to the Fund has been waived, and a portion was partially recovered in 2016. Performance prior to waiving fees was lower than actual returns shown.

Performance Associated with an Inception Date within 10 Years/Since Inception

For any Class of a Fund that began operating within the ten-year/since inception period shown, the performance shown prior to the inception date of the Class is that of a class (or series of classes) previously in operation. The combined returns have not been adjusted for any difference between the fees and expenses of the Class and the historical fees and expenses of the included previous class (or classes). If the previous class(es) had lower expenses, the resulting performance would be better than the Class would have realized during the same period. If the previous class(es) had higher expenses, the resulting performance would be lower than the Class would have realized during the same period. Specific information about any Fund may be found at americanbeaconfunds.com or in the prospectus.