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Important Information About Mutual Funds Capital Gains and Dividends Distributions
Mutual funds realize gains and losses throughout the year as securities in the portfolio
are bought or sold at a gain or loss. The fund is required by law to distribute
net gains from such transactions to shareholders before the end of the year. Dividend
distributions will vary on a per share basis based upon expenses of the underlying
share class. The Fund's net asset value (NAV) drops in direct relationship to the
distribution paid, plus or minus market movement.
For example, if a Fund has a $10.00 NAV and pays a 25 cent distribution, the stated
NAV will be $9.75 if there is no market movement. (Any market movement would be
added or subtracted to the $9.75 NAV.) Because the Shareholder will either receive
more shares of the fund (reinvestment) or take the distribution in cash, the value
of the shareholder's account has not changed. In our example, it is still $10.00/share
($9.75/share NAV plus $0.25/share in cash or additional shares).
For additional information, please contact Shareholder Services at 949-720-4706.
For specific tax advice, consult your professional tax advisor.
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