Systematic Mid Cap Value Fund

Fund Objective

The Managers AMG Systematic Mid Cap Value Fund’s investment objective is to achieve long-term capital appreciation.

Fund Strategy

The Fund seeks to achieve its investment objective by investing in a diversified portfolio consisting of approximately 60 to 80 common and preferred stocks of medium-sized companies, which will generally be listed on the New York Stock Exchange, the American Stock Exchange or on NASDAQ.

Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of borrowings for investment purposes, in mid-capitalization companies that, at the time of purchase, have market capitalizations greater than $1 billion but less than the greater of $15 billion or the upper limit of the Russell Midcap® Value Index. (As of March 31, 2007, the upper limit of the Russell Midcap Value Index was approximately $21.26 billion.) The Fund may retain a security if the issuer's capitalization exceeds the greater of $15 billion or the upper limit of the Russell Midcap Value Index after the Fund has purchased the issuer's security. The Fund will provide shareholders with at least 60 days' written notice of any change in this policy.

Fund Facts (as of 9/30/2008)

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. 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 or Strategy 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.

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 the current prospectus dated 07/01/2008. The investment manager has contractually agreed, through at least July 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.

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