Strategy : The International Fund primarily invests in equity securities of companies located in the world’s developed countries outside the U.S. Under normal market conditions, the Fund will invest in companies located in at least 10 countries outside of the U.S., and will invest less than 10% of its assets in U.S. companies. Generally, equity investments will represent a diversified portfolio of predominantly larger companies. There may also be a portion of the International Fund’s assets invested in companies from emerging market conditions.

Strategy : The American Opportunities Fund primarily invests in equity securities of mid-sized U.S. companies. Most of the stocks held by the Fund are selected from the 800 companies in the Russell Midcap index. The Advisor currently researches over 2,300 issuers monthly and may purchase any of these stocks for the American Opportunities Fund. The Fund may also invest in equity securities of smaller and larger U.S. companies.

Strategy : The Emerging Markets Fund invests at least 80% of its net assets in securities of companies located in or whose businesses are closely associated with the world’s emerging markets countries. The Fund may invest up to 20% of its net assets in securities of companies in other less developed countries, sometimes known as “frontier market” countries, as well as developed market countries, including the U.S.