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Multi-Cap Market Neutral Fund - A (OGNAX)

Multi-Cap Market Neutral Fund - A (OGNAX)
Overview Performance and Ratings Holdings and Details Management Dividends and Capital Gains Fees and Expenses Sales Resources

Objective

The Fund seeks long-term capital preservation and growth by using strategies designed to produce returns which have no correlation with general domestic market performance.

Strategy/Investment process

  • Seeks to purchase securities that the adviser considers to be attractive and sell short securities it considers to be unattractive.
  • Balances the dollars invested in the long and short positions within each sector to achieve sector and market neutrality.
  • Focuses on stock selections as the primary means of generating returns.
Performance basics
  Annualized returns (as of 7/31/2015)
  1 Year 3 Year 5 Year 10 Year
at NAV -1.30% 0.61% 0.31% 0.25%
With 5.25% max. sales charge -6.52% -1.18% -0.77% -0.29%
BofA Merrill Lynch 3-Month U.S. Treasury Bill Index 0.01% 0.06% 0.08% 1.39%
Lipper Alternative Equity Market Neutral Funds Index -1.27% 0.93% 1.84% N/A
  Annualized returns
(as of 6/30/2015)
  1 Year 3 Year 5 Year 10 Year
at NAV -0.40% 0.62% 0.33% 0.25%
With 5.25% max. sales charge -5.64% -1.19% -0.75% -0.29%
BofA Merrill Lynch 3-Month U.S. Treasury Bill Index 0.02% 0.06% 0.08% 1.42%
Lipper Alternative Equity Market Neutral Funds Index -1.31% 1.22% 2.17% N/A

The performance quoted is past performance and is not a guarantee of future results. Mutual funds are subject to certain market risks. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Current performance may be higher or lower than the performance data shown. For performance current to the most recent month-end, please call 1-800-480-4111.

Annual operating expenses (%)
Expense cap expiration date 10/31/2016
Expense cap 1.25%
Total annual operating expenses 2.86%
Fee waivers and/or expense reimbursements 0.29%
Net expenses 2.57%

Fee waivers and/or expense reimbursements,Net Expenses
The Investment Advisor, Administrator and Distributor (the "Service Providers") have contractually agreed to waive fees and/or reimburse expenses to the extent that Total Annual Operating Expenses (excluding Acquired Fund Fees and Expenses, dividend expenses relating to short sales, interest, taxes, expenses related to litigation and potential litigation, extraordinary expenses and expenses related to the Board of Trustees' deferred compensation plan) exceed the expense cap of the average daily net assets through the expense cap expiration date. This contract continues through that date, at which time the Service Providers will determine whether or not to renew or revise it.

Ratings (as of 7/31/2015)
Morningstar overall rating: (99 funds)
Morningstar category: Market Neutral

Overall rating A Shares; Market Neutral Category; 99 funds. Three year rating 2 stars; 99 funds. Five year rating 2 stars; 59 funds. Ten year rating 2 stars; 25 funds.

2015, Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damage or losses arising from any use of this information. Past performance is not a guarantee of future results. For each fund with a three-year history, Morningstar calculates a Morningstar Rating™ metric each month by subtracting the return on a 90-day U.S. Treasury Bill from the fund's load-adjusted return for the same period, and then adjusting this excess return for risk. The top 10% of funds in each broad asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future results. Different share classes may have different ratings.

The ranking information is provided by Lipper Analytical Services. Past performance is no guarantee of future results. Rankings are calculated based upon the total returns of multiple share classes within their respective Lipper category. Different share classes may have different rankings.

Minimum investments
Minimum investments Minimum subsequent investments
Regular $1000 Regular $50
IRA $1000 IRA $50
Daily stats (as of 9/04/2015)
NAV YTD
$9.91 -1.59%
$0.01 | -0.10%  
 
NAV as of:
  • Mon
    Jul 27
    2015
    $9.89
     
  • Tue
    Jul 28
    2015
    $9.86
     
  • Wed
    Jul 29
    2015
    $9.88
     
  • Thu
    Jul 30
    2015
    $9.90
     
  • Fri
    Jul 31
    2015
    $9.89
     
  • Mon
    Aug 03
    2015
    $9.90
     
  • Tue
    Aug 04
    2015
    $9.89
     
  • Wed
    Aug 05
    2015
    $9.95
     
  • Thu
    Aug 06
    2015
    $9.95
     
  • Fri
    Aug 07
    2015
    $9.97
     
  • Mon
    Aug 10
    2015
    $9.91
     
  • Tue
    Aug 11
    2015
    $9.94
     
  • Wed
    Aug 12
    2015
    $9.94
     
  • Thu
    Aug 13
    2015
    $9.96
     
  • Fri
    Aug 14
    2015
    $9.95
     
  • Mon
    Aug 17
    2015
    $9.93
     
  • Tue
    Aug 18
    2015
    $9.94
     
  • Wed
    Aug 19
    2015
    $9.92
     
  • Thu
    Aug 20
    2015
    $9.96
     
  • Fri
    Aug 21
    2015
    $9.93
     
  • Mon
    Aug 24
    2015
    $9.95
     
  • Tue
    Aug 25
    2015
    $9.96
     
  • Wed
    Aug 26
    2015
    $10.03
     
  • Thu
    Aug 27
    2015
    $9.96
     
  • Fri
    Aug 28
    2015
    $9.93
     
  • Mon
    Aug 31
    2015
    $9.95
     
  • Tue
    Sep 01
    2015
    $9.93
     
  • Wed
    Sep 02
    2015
    $9.92
     
  • Thu
    Sep 03
    2015
    $9.92
     
 
52 Week High $10.14
(12/03/2014)
52 Week Low $9.79
(10/16/2014)
YTD Total Return w/Load -6.77%
Net Asset Class $6,246,998.64
Net Asset Fund $281,210,605.05
Basics
Ticker OGNAX
CUSIP 4812C1645
Share Class Inception Date 05/23/2003
Fund Number 2020
Asset Class Specialty
Cut-off time1 4:00 P.M.

The Fund may engage in short sales. There is no guarantee that the use of long and short positions will succeed in limiting the Fund's exposure to domestic stock market movements, capitalization, sector swings or other risk factors. Investment in a portfolio involved in long and short selling may have higher portfolio turnover rates. This will likely result in additional tax consequences. Short selling involves certain risks, including additional costs associated with covering short positions and a possibility of unlimited loss on certain short sale positions.

1Please refer to the prospectus for additional information about cut-off times.

Total return assumes reinvestment of income.

The BofA Merrill Lynch 3-Month U.S. Treasury Bill Index is comprised of a single issue purchased at the beginning of the month and held for a full month. Each month the index is rebalanced and the issue selected is the outstanding Treasury Bill that matures closest to, but not beyond 3 months from the rebalancing date. The performance of the index does not reflect the deduction of expenses associated with a fund, such as investment management fees. By contrast, the performance of the Fund reflects the deduction of the fund expenses, including sales charges if applicable. An individual cannot invest directly in an index.

The performance of the Lipper Alternative Equity Market Neutral Funds Index includes expenses associated with a mutual fund, such as investment management fees. These expenses are not identical to the expenses charged by the Fund. An individual cannot invest directly in an index.

Total return assumes reinvestment of dividends and capital gains distributions and reflects the deduction of any sales charges, where applicable. Performance may reflect the waiver of a portion of the Fund's advisory or administrative fees and/or reimbursement of certain expenses for certain periods since the inception date. If fees had not been waived and/or certain expenses were not reimbursed, performance would have been less favorable.

©2015, American Bankers Association, CUSIP Database provided by the Standard & Poor's CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. All rights reserved.