TimesSquare Mid Cap Growth Fund

		Month Ending 6/30/2010 (%)					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
TimesSquare Mid Cap Growth Fund
Premier Class		19.60	-4.43	4.38	—	4.25	19.60	-4.43	4.38	—	4.25	1.32	1.32
Institutional Class		20.04	-4.22	4.56	—	4.43	20.04	-4.22	4.56	—	4.43	1.12	1.12
Russell Midcap® Growth Index
		21.30	-7.53	1.37	-1.99	—	21.30	-7.53	1.37	-1.99	—

Fund Inception Date	Premier	Institutional
	3/4/2005	3/4/2005
Calendar Year Returns	Premier	Institutional	Russell Midcap® Growth Index
2009	36.57%	37.02%	46.29%
2008	-33.96%	-33.91%	-44.32%
2007	9.87%	10.11%	11.43%
2006	17.44%	17.39%	10.66%
2005	—	—	12.10%

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 net expense ratios 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.

Risks

The Fund is subject to risks associated with investments in mid-capitalization companies, such as erratic earnings patterns, competitive conditions, limited earnings history, and a reliance on one or a limited number of products. The Fund invests in growth stocks, which may be more sensitive to market movements because their prices tend to reflect future investor expectations rather than just current profits. Growth stocks may underperform value stocks during given periods.