OCSIX : Orchard Small Cap Value Fund Class I

Fund Summary

The investment seeks long-term capital appreciation. Under normal market conditions, the fund pursues its objective by investing at least 80% of its net assets (including any borrowings for investment purposes) in equity securities of small capitalization companies based in the United States. The Adviser currently defines small capitalization companies as those that at time of purchase have capitalizations of up to $6 billion. The fund's portfolio typically has between 30 to 60 equity positions and cash positions of less than 10%.