FQ U.S. Equity Fund

Fund Objective

The Managers AMG FQ U.S. Equity Fund's (formerly Managers Structured Core Fund) objective is to achieve long-term capital appreciation.

Fund Strategy

The Managers AMG FQ U.S. Equity Fund seeks to achieve superior long-term returns for investors by investing in a diversified portfolio of U.S. equity securities that reflects the characteristics of the Russell 3000 Index in terms of industry, earnings growth, valuation and similar measurements. The Fund invests at least 80% of its assets in equity securities. The Fund's benchmark is the Russell 3000 Index.

Fund Facts (as of 6/30/2008)

Learn more about share classes offered by Managers Investment Group.

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. 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 data shown is current to the most recent month end.

The Fund invests in large-capitalization companies that may underperform other stock funds (such as funds that focus on small and medium capitalization companies) when stocks of large-capitalization companies are out of favor.

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

Annual net expense ratios as of 03/01/08 adjusted for the reduction in custodial fees, which took effect on 07/01/07. The Investment Manager has contractually agreed, through at least March 1, 2009, to limit Total Annual Fund Operating Expenses (exclusive of taxes, interest, brokerage commissions, acquired fund expenses, and extraordinary items) to the expense cap ratios listed of each class' average daily net assets.

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 3000^® Growth Index is a trademark of Russell Investments. Russell^® is a trademark of Russell Investments. An investment cannot be made directly into an Index.