Portfolio and Performance Update

Lisanti Small Cap Growth Fund uses an aggressive growth approach to seek above—average maximum capital appreciation through small cap investing. The Fund normally invests at least 80% of its assets in the common stock of smaller, lesser—known U.S. companies that the Portfolio Manager believes are in an early stage or transitional point in their development and have above average prospects for growth.

Current share price (NAV) as of close of business TBD : TBD

Total Return as of TBD
Total Return as of TBD

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. As stated in the current prospectus, the Fund's annual operating expense ratio (gross) is 1.67%. The Fund's adviser has contractually agreed to waive its fee and reimburse expenses so to cap the expense ratio at 1.35% through April 30, 2025. NAV is the Fund's value per share.

The recent growth rate in the stock market has helped to produce short—term returns that are not typical and may not continue in the future. Because of ongoing market volatility, fund performance may be subject to substantial short—term changes.

Investments in small-sized companies pose greater risks than those typically associated with larger, more established companies such as increased volatility of earnings and prospects, higher failure rates, and limited markets, product lines or financial resources.

*An unmanaged index that consists of those companies in the Russell 2000 whose price—to—book ratios and forecasted growth values are above—average for that index. One cannot invest in an index.