Investment Minimums
Individual Investors $5 Million
Institutional Investors None
Fee-based Accounts Offered By Financial Advisors None

Certain other categories of investors may invest in Class L shares at a reduced minimum. See Prospectus for details.

Shareholder Fees
Sales Load None
Deferred Sales Load None
Redemption Fees None


Annual Fund Operating Expenses
Management Fee 0.40%
Distribution (12b-1) Fee None
Acquired Fund Fees 0.13%
Other Expenses
Dividends On Short Sales None
All Other Expenses 2.27%
Gross Expenses 2.80%
Less: Fee Waivers 1.97%
Expense Cap+ 0.70%
Expense Cap Expiration Date: 1/28/15

+ The Adviser has contractually agreed to waive its management fee and/or reimburse expenses to the extent necessary to maintain the Total Annual Fund Operating Expenses at the stated levels. These expense caps are exclusive of expenses that may apply to some of the Funds, such as acquired fund fees, expenses related to short and borrowing costs and extraordinary expenses. See the Prospectus for additional details.