*The gross expense ratio can be found on page 4 of
the most recent Prospectus (4/30/08).
**The net expense ratio can be found on page 44
of most recent Prospectus (4/30/08).
** Through 04/30/09, Litman/Gregory has voluntarily agreed to waive a portion of its management fee to pass through any costs benefits resulting from changes in the sub-advisory fee schedules or allocations.
Performance data
quoted represents past performance and does not guarantee
future results. The investment return and principal value of an
investment will fluctuate so that that an investor’s shares,
when redeemed, may be worth more or less than their original cost. The
funds impose a 2% redemption fee on shares held less than 180 days.
Performance data does not reflect the redemption fee. If reflected,
total returns would be reduced. Current performance of
the fund may be lower or higher than the performance quoted.
The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies as measured by total market capitalization, and represents about 98% of the U.S. stock market.
The Custom Equity Index is composed of a 70% weighting in the S&P 500 Index, a 20% weighting in the Russell 2000 Index, and a 10% weighting in the MSCI EAFE Index.
The Lipper Multi-Cap Core Fund Index measures the performance of the 30 largest mutual funds that invest in a variety of capitalization ranges, without concentrating 75% or more of their equity assets in any one market capitalization range over an extended period of time, as determined by Lipper, Inc.
Indexes
are unmanaged, do not incur fees and cannot be invested in directly.
Best/Worst Rolling Return Periods as of : 6/30/2008
Performance
MSEFX
Russell 3000
Number of Periods
Best Rolling 12-Mo. Period
47.7%
47.7%
127
Worst Rolling 12-Mo. Period
-22.8%
-27.9%
127
Best Rolling 36-Mo. Period
104.0%
105.0%
103
Worst Rolling 36-Mo. Period
-28.3%
-40.4%
103
Best Rolling 60-Mo. Period
99.5%
111.8%
79
Worst Rolling 60-Mo. Period
0.1%
-17.3%
79
Percent Negative 12-Mo. Rolling
24.4%
28.3%
127
Percent Negative 36-Mo. Rolling
16.5%
28.2%
103
Percent Negative 60-Mo. Rolling
0.0%
35.4%
79
Percent Beat Benchmark 12-Mo.
60.6%
n/a
127
Percent Beat Benchmark 36-Mo.
63.1%
n/a
103
Percent Beat Benchmark 60-Mo.
75.9%
n/a
79
The first rolling 12 month-period is reached 12 months after each fund’s inception (based on month-end dates). The starting and ending periods then “roll” forward one month at a time to comprise a new 12-month period. The first rolling three-year period is reached 36 months after each fund’s inception (based on month-end dates). The starting and ending periods then “roll” forward one month at a time to comprise a new 36-month period. The first rolling five-year period is reached 60 months after each fund’s inception (based on month-end dates). The starting and ending periods then “roll” forward one month at a time to comprise a new 60-month period.
Morningstar Large Blend Peer Group Ranking : 6/30/2008
One-Year
Three-Year
Five-Year
Ten-Year
% Rank in category
65%
46%
38%
16%
Funds in category
2086
1715
1325
660
Morningstar, Inc., is an independent mutual fund research and rating service. Each Morningstar category represents a universe of funds with similar investment objectives. Rankings for the periods shown are based on fund total returns with dividends and distributions reinvested and do not reflect sales charges. The highest percentile rank is 1 and the lowest is 100.
The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Though not an
international fund, the fund may invest in foreign securities.
Investing in foreign securities exposes investors to economic,
political and market risks and fluctuations in foreign currencies.
Though not a small-cap fund, the fund may invest in the securities
of small companies. Small-company investing subjects investors
to additional risks, including security price volatility and less
liquidity than investing in larger companies.
