High Yield Fund

  Month Ending 8/31/2010 (%) Quarter Ending 6/30/2010 (%) Expense Ratios
Fund/Class 1
Year		 3
Year		 5
Year		 10
Year		 Life
of Fund		 1
Year		 3
Year		 5
Year		 10
Year		 Life
of Fund		 Gross Net
High Yield Fund
Class A NAV 18.81 5.35 5.48 6.62 6.16 25.71 3.54 5.10 6.22 5.96 1.68 1.16
Class A Load 13.81 3.83 4.57 6.17 5.80 20.39 2.06 4.18 5.76 5.59 1.68 1.16
Class B NAV 18.04 4.35 4.56 5.88 5.12 24.62 2.59 4.17 5.48 4.92 2.43 1.91
Class B Load 13.04 3.53 4.26 5.88 5.12 19.62 1.78 3.88 5.48 4.92 2.43 1.91
Class C NAV 17.90 4.42 4.63 5.91 5.14 24.66 2.65 4.22 5.51 4.93 2.43 1.91
Class C Load 16.90 4.42 4.63 5.91 5.14 23.66 2.65 4.22 5.51 4.93 2.43 1.91
Institutional Class n/a 19.00 5.65 5.76 7.05 6.24 25.84 3.86 5.37 6.66 6.03 1.43 0.91
Barclays Capital U.S. Corporate High Yield Bond Index
21.52 8.61 7.51 7.54 —   26.77 6.54 7.17 7.32 —  
Fund Inception
Date 		Class A Class B Class C Institutional
  1/2/1998 2/19/1998 2/19/1998 3/2/1998
Calendar Year
Returns		 Class A Class B Class C Institutional Barclays Capital U.S. Corporate High Yield Bond Index
2009 53.38% 51.64% 51.98% 54.06% 58.21%
2008 -29.76% -30.22% -30.27% -29.54% -26.16%
2007 2.25% 1.30% 1.32% 2.40% 1.87%
2006 11.07% 10.21% 10.24% 11.38% 11.85%
2005 2.37% 1.59% 1.60% 2.60% 2.74%
2004 10.63% 10.07% 10.08% 11.26% 11.13%
2003 29.73% 29.01% 29.04% 30.30% 28.97%
2002 1.85% 1.49% 1.49% 2.64% -1.41%
2001 4.78% 4.17% 4.18% 5.15% 5.28%
2000 -10.74% -11.31% -11.22% -10.14% -5.86%
1999 9.03% 8.57% 8.60% 9.64% 2.39%

Maximum Sales Charge

Class A share maximum sales charge: 4.25%

Class B share maximum sales charge: 5.00%

Class C share maximum sales charge: 1.00%

Disclosure

Investors should carefully consider the Fund's investment objectives, risks, charges, and expenses before investing. For this and other information, please call 800.835.3879 or download a free prospectus. Read it carefully before investing or sending money.

The performance shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than quoted. The investment return and the 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. From time to time the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields on the Fund are net of expenses. Unlike the Fund, the index listed is unmanaged, is not available for investment, and does not incur expenses.

Performance for periods longer than one year are annualized.

Annual expense ratio as of 05/01/2010. Managers Investment Group LLC (the “Investment Manager”) has contractually agreed, through at least May 1, 2011, to waive management fees and/or reimburse Fund expenses in order to limit Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursements (exclusive of taxes, interest, brokerage commissions, acquired fund fees and expenses, and extraordinary items) to 1.15%, 1.90%, 1.90%, and 0.90% of the average daily net assets of the Class A, Class B, Class C, and Institutional Class shares, respectively, subject to later reimbursement by the Fund in certain circumstances.

Risks

The Fund is subject to the risks associated with investments in debt securities, such as default risk and fluctuations in the perception of the debtor's ability to pay its creditors. The Fund holds securities in which the issuer of the security may default or otherwise be unable to honor a financial obligation. The Fund holds securities rated below investment-grade that are especially susceptible to this risk. These issuers may be involved in bankruptcy proceedings, reorganizations, or financial restructurings, and are not as strong financially as higher-rated issuers.
Downloadable Documents
Fund Pricing 09/07/10
Class A
NAV: $7.50
NAV $ Change: -$0
NAV % Change: 0.00%
YTD Return (as of 08/31/10)
- at NAV
- with Load 2.54%
Class B
NAV: $7.39
NAV $ Change: $0.01
NAV % Change: 0.14%
YTD Return (as of 08/31/10)
- at NAV
- with Load 1.60%
Class C
NAV: $7.39
NAV $ Change: -$0
NAV % Change: 0.00%
YTD Return (as of 08/31/10)
- at NAV
- with Load 5.62%
Institutional
NAV: $7.57
NAV $ Change: -$0
NAV % Change: 0.00%
YTD Return (as of 08/31/10)
- at NAV 7.30%
- with Load
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