Must be preceded
or accompanied by a prospectus. Please
click here for a prospectus.
Mutual fund investing involves risk. Principal
loss is possible. The Fund is non-diversified, meaning
it may concentrate its assets in fewer individual holdings
than a diversified fund. Therefore, the Fund is more
exposed to individual stock volatility than a diversified
fund. The Fund invests in foreign securities which involve
greater volatility and political, economic and currency
risks and differences in accounting methods. The Fund
invests in smaller companies, which involve additional
risks such as limited liquidity and greater volatility.
Please click
here for complete fund performance as of the most
recent quarter and month-end. Performance data quoted
represents past performance; past performance does not
guarantee future results. The investment return 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. As of 03/31/08, the
S&P 500 Index performance was: 3 months -9.45%,
6 months -12.46%, 9 months -10.68%, 12 months -5.08%,
3 year 5.84%, 5 year 11.30%, Since Inception 8.77%.
Please click
here for fund holdings. Fund holdings and sector
allocations are subject to change and are not recommendations
to buy or sell any security.
Opinions expressed are not intended to be a forecast
of future events, a guarantee of future results, nor
investment advice.
The S&P 500 Index is a broad based unmanaged index
of 500 stocks, which is widely recognized as representative
of the equity market in general. You cannot invest directly
in an index. Alpha is a coefficient which measures risk-adjusted
performance, factoring in the risk due to the specific
security, rather than the overall market. A high value
for alpha implies that the stock or mutual fund has
performed better than would have been expected given
its beta (volatility). Beta measures the volatility
of the fund, as compared to that of the overall market.
The Market's beta is set at 1.00; a beta higher than
1.00 is considered to be more volatile than the market,
while a beta lower than 1.00 is considered to be less
volatile. The Price to Earnings (P/E) Ratio reflects
the multiple of earnings at which a stock sells.
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