MVEBX : Meritage Value Equity Fund Institutional Shares

Fund Summary

The investment seeks growth of capital; income is a secondary objective. Under normal circumstances, the fund invests at least 80% of the value of its net assets (plus borrowings for investment purposes) in equity securities. It principally invests in exchange-traded common stocks of domestic companies. Up to 35% of the fund's total assets may be invested in the common stock (or its equivalent) of and American Depositary Receipts ("ADRs") relating to foreign companies (including those located in emerging markets) that trade in the U.S.