iMGP Equity Fund (MSEFX) Diversifiers

The investment seeks long-term growth of capital; that is, the increase in the value of the investment over the long term. Under normal conditions, each sub-advisor manages a portion of the fund's assets by independently managing a portfolio typically composed of at least 5, but not more than 15, stocks. The fund invests primarily in the securities of large-, mid- and small-sized U.S. companies, although the managers also have flexibility to invest in the securities of foreign companies. Up to 50% of the fund's net assets may be invested in foreign equity securities, which may include emerging markets.