Average Annual Total Returns as of (02/28/2015)

Class A Shares Class C Shares Inst'l Shares
without sales charge with 2.00% sales charge without sales charge with 1.00% sales charge
3 Months 0.78% -1.26% 0.59% -0.42% 0.84%
YTD 0.54% -1.50% 0.41% -0.59% 0.58%
1 Year 3.59% 1.47% 2.71% 2.71% 3.74%
3 Years 2.08% 1.40% 1.32% 1.32% 2.34%
5 Years 3.37% 2.96% 2.89% 2.89% 3.63%
10 Years 3.70% 3.49% 3.46% 3.46% 3.96%
Since Inception 4.24% 4.14% 4.13% 4.13% 4.54%

The total expense ratio for Class A Shares and C Shares is 0.00% and 0.00%, respectively. There are currently no waivers in effect for A and C Shares.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit www.sterlingcapitalfunds.com/funds/performance-summary.php.

The performance of the West Virginia Intermediate Tax-Free Fund includes the performance of the OVB West Virginia Tax-Exempt Income Portfolio for the period prior to its consolidation with the BB&T West Virginia Intermediate Tax-Free Fund, which commenced operations on 7/23/01, and reflects the deduction of fees for value-added services associated with a mutual fund, such as investment management and fund accounting fees. The performance inception date for the Fund is 12/17/93. The inception date for Class A Shares is 7/23/01. Performance reflects 12b-1 fees and applicable expenses. The performance shown reflects the reinvestment of all dividend and capital gains distributions.