IMPAX

The fund seeks investment results that exceed the performance, before fees and expenses, of the Russell 2000® Index. It will invest at least 80% of its assets in equity securities of small capitalization companies domiciled or headquartered within the United States, or whose primary business activities or principal trading markets are located within the United States ("Entrepreneurial Companies"). The manager defines small capitalization companies as those with market capitalizations below that of the largest member of the Russell 2000 Index at the time of initial purchase.