Essex Small/Micro Cap Growth Fund

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		Month Ending 10/31/2008 (%)							Quarter Ending 9/30/2008 (%)
Fund/Class		1 Year	3 Year	5 Year	10 Year	Life of Fund	Expense Ratio		1 Year	3 Year	5 Year	10 Year	Life of Fund
							Gross	Net
Essex Small/Micro Cap Growth Fund
Class A	NAV	-48.71	-9.02	-0.62	—	5.39	1.50	1.50	-26.90	-0.45	7.47	—	9.36
Class A	Load	-51.66	-10.80	-1.79	—	4.62	1.50	1.50	-31.10	-2.39	6.21	—	8.55
Class C	NAV	-49.08	—	—	—	-16.52	2.25	2.25	-27.43	—	—	—	-7.07
Class C	Load	-49.58	—	—	—	-16.52	2.25	2.25	-28.15	—	—	—	-7.07
Russell 2000® Growth Index
		-37.87	-5.31	-0.13	1.63	—			-17.07	1.45	6.64	4.67	—

Fund Inception Date	Class A	Class C
	9/28/2000	3/1/2006
Calendar Year Returns	Class A	Class C	Russell 2000® Growth Index
2007	17.45%	16.55%	7.05%
2006	8.55%	—	13.35%
2005	13.90%	—	4.15%
2004	15.74%	—	14.31%
2003	66.41%	—	48.54%
2002	-21.34%	—	-30.26%
2001	30.96%	—	-9.23%

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 the performance data 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 and the returns and yields on the indices exclude expenses. Current performance of the Fund may be lower or higher than the performance quoted.

Performance reflects Class A shares. Load performance: maximum sales charge on Class A shares is 5.75%. For information about other share classes available, please consult the prospectus. Performance of Fund classes will differ. Please see the prospectus for details. From time to time the Fund’s advisor has waived fees or reimbursed expenses, which may have resulted in higher returns.

The Fund share classes differ with regard to sales charges and Fund expenses. In choosing a Fund and class(es), investors should consider the amount they plan to invest, their investment objectives, the Fund’s investment objectives, risks, charges and expenses carefully before investing, and how long they intend to keep their money invested in the Fund and class(es).  Investors should discuss their goals and choices with a registered financial professional in order to determine which share class is appropriate for them.

Class C shares convert to an equal dollar value of Class A shares at the end of the tenth year after purchase.

Performance for periods longer than a year are annualized.

Performance marked "NAV" does not reflect the deduction of a sales load and that, if reflected, would reduce the performance reported.

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.

Annual net expense ratios as of the current prospectus dated 10/01/2008 adjusted for the reduction in custodial fees, which took effect on 07/01/2007. The investment manager has contractually agreed, through at least October 1, 2009, to limit Total Annual Fund Operating Expenses (exclusive of taxes, interest, brokerage, acquired fund expenses and extraordinary items) to the expense cap ratios listed of each class' average daily net assets.

The "Since Inception" return, and returns for all periods beginning prior to 06/25/02, for the Managers AMG Essex Small/Micro Cap Growth Fund reflect performance linked with a "Predecessor Account" which began operations on September 28, 2000. The Predecessor Account’s objectives, policies, guidelines and restrictions were, in all material respects, the same as the Fund’s. The Predecessor Account was not registered as a mutual fund and therefore was not subject to certain investment restrictions that are imposed upon mutual funds. If the Predecessor Account had been registered as a mutual fund, the Account’s performance may have been adversely affected. Prior to March 1, 2006, the Fund had a single share class, which did not carry an up-front sales charge. On March 1, 2006, the existing shares were redesignated as Class A shares. Class A shares have an up-front sales charge. Performance for Class A shares above is based on the performance of the Fund's class in existence prior to March 1, 2006 adjusted to reflect the sales charge applicable to Class A shares.

Unlike the Fund, the Index is unmanaged, is not available for investment and does not incur expenses. Please see Index Definitions for all our funds' benchmarks.

The Russell 2000^® Growth Index is a trademark of Russell Investments. Russell^® is a trademark of Russell Investments. An investment cannot be made directly into an Index.