FQ U.S. Equity Fund

Objective

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

• Looking to gain exposure to large, high-quality U.S. companies
• Seeking long-term growth of capital
• Willing to accept short-term volatility of returns

Focus

The Managers AMG FQ U.S. Equity Fund seeks to achieve superior long-term returns for investors by investing primarily in a diversified portfolio of equity securities (generally common and preferred stocks) of large U.S. companies.

This mutual fund invests primarily in securities that reflect the characteristics of the Russell 3000 Index in terms of industry, earnings growth, valuation, and similar measurements.

Fund Facts (as of 9/30/2008)

Learn more about share classes offered by Managers Investment Group.

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.

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.

The Investment Manager has voluntarily agreed to limit Total Annual Fund Operating Expenses (exclusive of taxes, interest, brokerage costs, acquired fund fees and expenses, and extraordinary items) to 1.04%, 1.79%, and 0.79% of the average daily net assets allocable to the Class A, C, and Institutional Class shares, respectively. This arrangement may be modified or terminated by the Investment Manager at any time.

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.