The fund invests in both debt and equity securities. It is anticipated that the dollar-weighted average maturity of debt securities that the fund purchases will not exceed 15 years. With respect to its investments in equity securities, the fund may invest in companies in any sector and of any size of market capitalization. It may invest up to 20% of its net assets in sponsored or unsponsored ADRs and securities of foreign companies that are traded on U.S. stock exchanges and U.S. over-the-counter markets.

Nasdaq

BUFBX

The fund invests in dividend-paying equity securities, consisting of common stocks, preferred stocks, rights, warrants and convertible securities. During normal market conditions, at least 80% of the fund's assets will be invested in dividend-paying equity securities. The fund may invest up to 20% of its net assets in sponsored or unsponsored ADRs and securities of foreign companies that are traded on U.S. stock exchanges.

BUFDX

The fund normally invests at least 80% of its net assets in equity securities, consisting of common stocks, preferred stocks, convertible securities, warrants and rights of large capitalization ("large-cap") companies. The fund may invest up to 20% of its net assets in sponsored or unsponsored ADRs and securities of foreign companies that are traded on U.S. stock exchanges.

BUFEX

The fund invests in common stocks and other equity securities, including preferred stock, convertible securities, warrants and rights, with a goal of maintaining at least 75% of the fund’s portfolio in companies with market capitalizations greater than the median of the Russell 3000 Growth Index or $5 billion, whichever is lower.

BUFGX

The fund normally invests at least 80% of its net assets in higher-yielding, higher-risk debt securities rated below investment grade by the major rating agencies, commonly known as "junk bonds". While the fund maintains flexibility to invest in bonds of varying maturities, it generally holds bonds with intermediate-term maturities. The fund may invest in securities such as investment grade debt securities, U.S. Treasury Securities, money market funds, and equity investments, including dividend paying stocks, convertible stocks and preferred stocks.

BUFHX

The fund invests primarily in equity securities of established companies that are economically tied to various countries throughout the world (excluding the U.S.). It may invest directly or indirectly in foreign securities or foreign currencies of both developed and developing countries. The fund advisor does not expect its investments in emerging markets to exceed 35% of its net assets. It may invest in securities of companies of any size and in any sector.

BUFIX

The fund invests at least 80% of its net assets in equity securities, consisting of common stocks, preferred stocks, convertible preferred stocks, warrants and rights of medium capitalization ("mid-cap") companies. The adviser defines mid-cap companies as those companies, at the time of purchase, with market capitalizations within the range of the Morningstar US Mid Growth Index.

BUFMX

The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities, consisting of common stocks, preferred stocks, convertible securities, warrants and rights, of companies that, at the time of purchase by the fund, the advisor defines as early stage growth companies. In addition to the fund's investments in domestic securities, it may also invest up to 20% of its net assets in sponsored or unsponsored ADRs and equity securities of foreign companies that are traded on U.S. stock exchanges.

BUFOX

The fund normally invests at least 80% of its net assets in equity securities, consisting of common stocks, preferred stocks, convertible preferred stocks, warrants and rights of small capitalization ("small-cap") companies. The adviser defines small-cap companies as those companies, at the time of purchase, with market capitalizations within the range of the Russell 2000 Growth Index.

BUFSX

The fund principally invests in equity securities, consisting of common stock, preferred stock, convertible securities, warrants and rights of companies whose securities may increase in value due to the development, advancement or commercial application of innovative strategies. In addition to the fund's investments in domestic securities, it may invest up to 20% of its net assets in sponsored or unsponsored ADRs and securities of foreign companies that are traded on U.S. stock exchanges.

Symbol	Full Name	Category	Inception	Expense Ratio	YTD Return	10Y Return (Annualized)	Dividend Yield	Risk / Return Rank
BUFBX	Buffalo Flexible Income Fund	Large Cap Value Equities	Aug 12, 1994	1.01%	7.11%	9.63%	8.51%	50
BUFDX	Buffalo Dividend Focus Fund	Large Cap Blend Equities	Dec 3, 2012	0.93%	-3.24%	11.77%	1.64%	19
BUFEX	Buffalo Large Cap Fund	Large Cap Growth Equities	May 19, 1995	0.93%	-10.76%	13.92%	7.56%	28
BUFGX	Buffalo Growth Fund	Large Cap Growth Equities	May 19, 1995	0.92%	-15.63%	11.43%	7.25%	10
BUFHX	Buffalo High Yield Fund	High Yield Bonds	May 19, 1995	1.02%	-0.57%	5.35%	7.12%	62
BUFIX	Buffalo International Fund	Foreign Large Cap Equities	Sep 27, 2007	1.03%	-4.81%	8.16%	0.89%	11
BUFMX	Buffalo Mid Cap Fund	Mid Cap Growth Equities	Dec 17, 2001	1.02%	-11.48%	7.36%	11.64%	2
BUFOX	Buffalo Early Stage Growth Fund	Small Cap Growth Equities	May 21, 2004	1.46%	-7.88%	8.73%	5.54%	10
BUFSX	Buffalo Small Cap Fund	Small Cap Growth Equities	Apr 14, 1998	1.01%	-7.54%	8.96%	0.00%	7
BUFTX	Buffalo Discovery Fund	Mid Cap Growth Equities	Apr 16, 2001	1.00%	-12.99%	6.69%	24.30%	1

Buffalo Mutual Funds List

Risk vs. Return Scatterplot