Skyline Special Equities Portfolio

For additional information regarding the Fund’s management, investment philosophy, and investment process, please download the product profile.

Objective

The Skyline Special Equities Portfolio seeks to maximum capital appreciation, primarily through investment in common stocks.

Fund Focus

The Skyline Special Equities Portfolio invests primarily in the common stocks of small-capitalization U.S. companies. Skyline Asset Management, L.P. (“Skyline”) generally considers a company to be a “small-capitalization” company if its outstanding shares have an aggregate market value of less than $2.5 billion at the time of purchase. The Fund emphasizes investments in companies that have below-average valuations and above-average earnings growth prospects. The Fund may also invest in stocks that are depressed due to current problems at the company, but for which Skyline has an expectation that the company's operations will improve.

Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of any borrowing for investment purposes, in equity securities.

Where this mutual fund may fit as part of your asset allocation

The Skyline Special Equities Portfolio may be appropriate for your overall investment allocation if you are:

  • Looking to gain exposure to small-cap companies
  • Diversifying equity investments that may be primarily held in large-cap companies
  • Seeking exposure to value-oriented investments
  • Willing to accept short-term volatility of returns

Fund Facts

Skyline Special Equities Portfolio
Investment Style Small-Cap Value
Benchmark(s) Russell 2000®Value; Russell 2000®
Subadvisor(s) Skyline Asset Management, L.P.
Net Assets $216,234,024
Ticker SKSEX
Cusip 561709734
Inception Date 4/23/1987
Minimum Investment
(Initial / Subsequent) 		$2,000 /
$100
Minimum IRA Investment
(Initial / Subsequent) 		$1,000 /
$100
Expense Ratio (Gross / Net) 1.53% / 1.32%
Maximum Sales Charges N/A
12b-1 fees N/A

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.

A short term redemption fee of 2% will be charged on redemption of fund shares held for 30 days or less.

Annual expense ratio as of 05/01/2010. The Fund's Investment Manager has contractually agreed, through May 1, 2011, to limit Fund operating expenses. The net expense ratio reflects this limitation, while the gross expense ratio does not. Please refer to the Fund's prospectus for additional information on the Fund's expenses.

Downloadable Documents
Fund Pricing 07/28/10
NAV: $18.44
NAV $ Change: -$0.3
NAV % Change: -1.60%
YTD Return (as of 06/30/10)
- at NAV
- with Load -2.98%
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