PERFORMANCE
Cullen Small Cap Value Fund
Average Annualized Total Returns (Retail Class) as of June 30, 2010
| YTD | 1 year | 3 year | 5 year | 10 years | Since Inception** |
|
|---|---|---|---|---|---|---|
| CIHDX | N/A | N/A | N/A | N/A | N/A | 6.41% |
| Russell 2000 Index | N/A | N/A | N/A | N/A | N/A | 5.54% |
Net Expense Ratio: 1.25%^
Gross Expense Ratio 21.74%
^The adviser has contractually agreed to reduce fees until 10/31/11. Total net expense ratio for the Retail Class is 1.25%, which includes 1.00% for fund expenses and 0.25% for class specific 12b-1 distribution expenses. The net expense ratio does not include aquired 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 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.
The Cullen Small Cap Value Fund is a new fund with limited operating history.