Skyline Special Equities Portfolio

  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
Skyline Special Equities Portfolio
NAV 5.73 -7.65 -0.83 6.71 10.87 26.24 -9.36 0.53 7.72 11.04 1.53 1.32
Load 5.73 -7.65 -0.83 6.71 10.87 26.24 -9.36 0.53 7.72 11.04 1.53 1.32
Russell 2000®Value Index
6.06 -8.03 -1.33 6.56 —   25.07 -9.85 -0.51 7.48 —  
Russell 2000® Index
6.60 -7.44 -0.69 2.48 —   21.48 -8.60 0.37 3.00 —  

Fund Inception Date: 4/23/1987

Calendar Year
Returns		 Skyline Special Equities Portfolio Russell 2000®Value Index Russell 2000® Index
2009 52.79% 20.58% 27.17%
2008 -40.15% -28.92% -33.79%
2007 -9.91% -9.78% -1.57%
2006 18.71% 23.48% 18.37%
2005 10.89% 4.71% 4.55%
2004 16.61% 22.25% 18.33%
2003 40.71% 46.03% 47.25%
2002 -7.29% -11.42% -20.48%
2001 13.92% 14.02% 2.49%
2000 24.21% 22.83% -3.02%
1999 -13.29% -1.49% 21.26%
1998 -7.17% -6.45% -2.55%
1997 35.43% 31.79% 22.36%
1996 30.37% 21.37% 16.49%
1995 13.83% 25.75% 28.45%
1994 -1.15% -1.54% -1.82%
1993 22.84% 23.77% 18.88%
1992 42.41% 29.14% 18.41%
1991 47.38% 41.70% 46.04%
1990 -9.28% -21.77% -19.48%
1989 24.01% 12.43% 16.26%
1988 29.74% 29.47% 25.02%

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.

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. 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 1.32%.

Risks

The Fund is subject to risks associated with investments in small-capitalization companies, such as erratic earnings patterns, competitive conditions, limited earnings history, and a reliance on one or a limited number of products.

Downloadable Documents
Fund Pricing 09/07/10
NAV: $17.84
NAV $ Change: -$0.41
NAV % Change: -2.25%
YTD Return (as of 08/31/10)
- at NAV
- with Load -4.61%
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