Jacob Small Cap Growth Fund Investor Class Shares

The Jacob Small Cap Growth Fund typically dedicates at least 80% of its portfolio to smaller companies. These are defined as businesses whose market capitalization – the total value derived from their share price multiplied by the number of shares outstanding – falls within the range of the Russell 2000® Growth Index at the point of purchase. The fund's investment adviser utilizes an aggressive growth strategy. Additionally, direct investments in foreign companies will not exceed 25% of the fund's net assets.