PERFORMANCE
Cullen International High Dividend Fund
Calendar Year Returns (Retail Class) as of December 31, 2009
| 2006 | 2007 | 2008 | 2009 | |
|---|---|---|---|---|
| CIHDX | 25.80% | 24.17% | -44.94% | 26.97% |
| MSCI EAFE* | 26.86% | 11.63% | -43.06% | 32.46% |
Average Annualized Total Returns (Retail Class) as of July 31, 2010
| YTD | 1 year | 3 year | 5 year | 10 years | Since Inception** |
|
|---|---|---|---|---|---|---|
| CIHDX | -2.39% | 8.85% | -12.24% | N/A | N/A | -0.59% |
| MSCI EAFE* | -4.67% | 6.38% | -12.94% | N/A | N/A | -1.40% |
Net Expense Ratio: 1.25%^
Gross Expense Ratio 1.80 %
**Since Inception returns are as of the Fund's inception date, 12/15/2005.
^The adviser has contractually agreed to reduce fees until 10/31/11. Total net expense ratio for the Retail Class is 125 bps, which includes 1.00% for fund expenses and 0.25% for class specific 12b-1 distribution expenses. The net expense ratio does not include acquired fund fees and expenses. In the absence of these fee reductions, total returns would be lower. Reflects expense ratio that is actually in place.
Past performance does not guarantee future results. The performance data quoted represents past performance. The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. You can obtain performance data current to the most recent month end by calling 1.877.485.8586.
The Fund imposes a 2% redemption fee on shares held less than seven days. Performance data does not reflect the redemption fee. If reflected, total returns would be reduced.
Mutual fund investing involves risk. Principal loss is possible. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. The Fund invests in medium capitalization companies, which involve additional risks such as limited liquidity and greater volatility.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ (based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance, including effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Fund received 4 stars among 249 foreign large value funds for the three-year period. Ratings shown are for Retail Share Class. The ratings for other share classes may vary.
Copyright 2009 Morningstar, Inc. All Rights Reserved. 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.
