Company NameFund NameClassDocument Type
American Beacon Bridgeway Large Cap Value Fund 024524118 Investor Class
Prospectus
AQR Funds Managed Futures Strategy Fund Class N Shares 00203H842 Class N
Prospectus
Buffalo Funds International Fund 119530509
Prospectus
Cognios Market Neutral Large Cap Fund 02110A100 Investor Class
Prospectus
Cohen & Steers Realty Shares, Inc. 192476109 A
Prospectus
DoubleLine Low Duration Bond Fund 258620855 Class N
Prospectus
Driehaus Funds Active Income Fund 262028855
Prospectus
Emerald Funds Growth Fund 317609261 Investor
Prospectus
Federated High Yield Trust 314197104 Service Shares
Prospectus
Fidelity Advisor Emerging Markets Income Fund A, I, C and M Shares 315920702 Class I
Prospectus
Advisor Financial Services Fund A, I, C and M Shares 315918789 Class I
Prospectus
Advisor International Small Cap Opportunities Fund A, I, C and M Shares 315910554 I
Prospectus
Advisor Small Cap Value Fund A, I, C and M Shares 316389774 I
Prospectus
Advisor Total Bond Fund Z Shares 31617L798 Class Z
Prospectus
Advisor Utilities Fund Class I Shares 315918722 I
Prospectus
Guggenheim Floating Rate Strategies Fund 40169J408 P
Prospectus
Harding Loevner Emerging Markets Portfolio Advisor Class 412295305 Advisor
Prospectus
Hennessy Focus Fund 42588P700 Investor Class
Prospectus
Janus Henderson Global Life Sciences Fund 471023671 T
Prospectus
Legg Mason BrandywineGLOBAL – Global Opportunities Bond Fund 524686326 Class FI
Prospectus
Oak Associates Red Oak Technology Select Fund 671081305
Prospectus
Oakmark International Fund 413838202 Investor Class
Prospectus
Parnassus Endeavor Fund 701765869 Investor Shares
Prospectus
PIMCO Real Return Fund 693391682 D
Prospectus
Robeco BP Long/Short Equity Fund 749255253 INVESTOR
Prospectus
The Arbitrage Funds The Arbitrage Fund 03875R106 Class R
Prospectus
Tocqueville The Gold Fund 888894862
Prospectus
Virtus Funds Ceredex Mid-Cap Value Equity Fund 92837F458 Class I
Prospectus
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Mutual Fund, 529 Plan Share Class, and Out-of-State Information

The following information is offered as a reminder to those owners of applicable mutual fund or 529 college savings plan accounts.


Class A share purchases are subject to an initial sales charge of a percentage of the offering price and may be subject to 12b-1 expense fees. Class A shares generally have lower annual distribution and service (12b-1) fees than other share classes and may offer a reduced sales charge through Rights of Accumulation (ROA) or a Letter of Intent (LOI). An LOI is a written promise to purchase a specific dollar amount of mutual fund shares over a period of time, usually 13 months. In exchange, the fund company applies a lower front-end sales charge to all purchases of A shares. ROA permit the pooling of assets invested in a fund family among individuals who are related to one another, qualifying them for reduced sales charges when the combined investment reaches a breakpoint.

Class B share purchases are not subject to any initial sales charge or load. Purchases are subject to a declining surrender charge over a period of years and incur higher 12b-1 fees than A shares. Reduced sales charges available through ROA or LOI are not an option through B share purchases. Redemptions prior to expiration of the surrender period may be subject to a charge of a certain percentage known as a contingent deferred sales charge (CDSC) or surrender charge.

Class C share purchases may not be subject to an initial sales charge, but on an ongoing basis will have higher 12b-1 expense fees and may be assessed a CDSC if redeemed within a specific period of time, usually within one to one-and-one-half years of purchase. Purchases of C shares in 529 plans will generally not be permitted by Commonwealth if the beneficiary’s investment time horizon is more than six years.

Out-of-State 529 Information
Depending upon the laws of the home state and the laws of the designated beneficiary’s state, favorable state tax treatment or other benefits offered by such home state for investing in 529 college savings plans may be available only if investment is made in the home state’s 529 college savings plan. Any state-based benefit offered with respect to a particular 529 college savings plan should be one of many appropriately weighted factors to be considered in making an investment decision. Consultation with a financial, tax, or other advisor to learn more about how state-based benefits (including any limitations) would apply to specific circumstances, and contacting a home state plan or any other 529 college savings plan to learn more about the features, benefits, and limitations of that state’s 529 college savings plan, may be considered.

Securities and insurance products offered may lose value, are not bank or credit union deposits, not FDIC-insured, not NCUA-insured, not NCUSIF-insured, not insured by any government agency, and not endorsed or guaranteed by Commonwealth Financial Network or your Registered Representative.