strategies

Champlain Small Company Fund

Closed to new investors.

The Champlain Small Company Fund requires a $10,000 minimum initial investment.

Advisor Shares

Ticker: CIPSX

Cusip: 00764Q405

Fund Inception: 11.30.04

Expense Ratio: 1.38%*

Minimum Investment: $10,000

The minimum investment for advisor shares held in an IRA is $3000.
* The expense ratio above does not reflect the ability of the Adviser to recover all or a portion of prior waivers, which would result in higher expenses for the investor. The Adviser has contractually agreed to reduce fees and reimburse expenses in order to keep the Total Annual Fund Operating Expenses from exceeding 1.40% until November 30, 2014. The Fund is currently running under the contractual cap.

Disclosure:

To determine if this Fund is an appropriate investment for you, carefully consider the Funds investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Funds prospectus, which may be obtained by calling 1-866-773-3238. Read the prospectus carefully before investing or sending money.

Mutual fund investing involves risk including possible loss of principal. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility.

The Champlain Funds are available to US investors only and may not be available in all states. The Champlain Funds are distributed by SEI Investments Distribution Co.,which is not affiliated with the adviser.