*Derived from a weighted average of the Fund’s three-, five- and ten-year risk adjusted return measure, if applicable.
You should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. For a statutory and summary prospectus that contains this and other important information about the Fund’s call 1-855- NUANCE3 (855-682-6233) or visit our website at www.nuanceinvestments.com. Please read the prospectus carefully before investing.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating™ for a fund is derived from a weighted average of the performance figures associated with its three-,five- and 10-year (if applicable) Morningstar Rating metrics. As of 12/31/2018, Nuance Concentrated Value Long-Short Institutional was rated 5 stars against the following numbers of U.S.-domiciled Long-Short Equity funds over the following time periods: 199 funds in the last three years. Ratings for other share classes may differ.
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Mutual fund investing involves risk; Principal loss is possible.
The Nuance Funds are distributed by Quasar Distributors, LLC.
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