Chartwell Small Cap Growth Fund (CWSGX) Diversifiers

The fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in common stocks of small capitalization U.S. companies. The fund's advisor considers small capitalization companies to be those with market capitalizations that, at the time of initial purchase, have a market capitalization generally within the range of the Russell 2000 Growth Index during the most recent 12-month period. The fund may invest up to 20% of its assets in U.S. dollar denominated securities of issuers based outside of the U.S.