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Investors should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. You may obtain a prospectus on this website or by calling the transfer agent at (888) 897-4821. The prospectus should be read carefully before investing.
Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.
An investment in the Fund is subject to investment risks, including the possible loss of the principal amount invested. There can be no assurance that the Fund will be successful in meeting its objectives. The Fund invests in common stocks which subjects investors to market risk. The Fund is subject to growth investing risk. Growth stocks are generally more volatile than value stocks and the earnings growth of these companies may not occur or be sustained. The Fund invests in small and mid-cap companies, which involve additional risks such as limited liquidity and greater volatility.
Distributed by Rafferty Capital Markets, LLC Garden City, NY 11530.