MAI Managed Volatility Fund Investor Class

This fund's objective is to generate current income and achieve long-term capital appreciation. It pursues these goals primarily by investing in a diversified portfolio of equity securities, with a particular focus on dividend-paying companies, and by selling exchange-listed options. Its equity investments are predominantly in domestic firms with large or mid-sized market capitalizations. However, the adviser's strategy, which concentrates on large- and mid-cap stocks geared towards total returns and maintains a target equity allocation of 45-55% of total assets, may limit the fund's capacity to fully capitalize on rapidly appreciating stock markets.