Click here for the Fund’s current holdings. Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.

Must be preceded or accompanied by prospectus. Please refer to the prospectus for important information about the investment company including investment objectives, risks, charges and expenses.

Mutual fund investing involves risk; loss of principal is possible. Small- and Medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Growth stocks typically are more volatile than value stocks; however, value stocks have a lower expected growth rate in earnings and sales.

References to other mutual funds should not be interpreted as an offer of these securities.

The comments made by Ron Muhlenkamp in this presentation are his opinion and are not intended to be investment advice or a forecast of future events.
Quasar Distributors, LLC., distributor (06/06)