As of June 3, 2013, the Small Value Fund was renamed Small Cap Value Diversified Fund. In addition, the portfolio management team has changed.

Firm Overview

Sterling Capital Management LLC is a registered investment adviser founded in 1970. An investment firm, Sterling is an independently operated subsidiary of BB&T Corporation, one of the nation's largest financial services holding companies. Sterling is headquartered in Charlotte, NC with offices in Raleigh, NC; Atlanta, GA; Washington, D.C.; San Francisco, CA; Richmond, VA; and Virginia Beach, VA. As of 6/30/2014, Sterling has over $46 billion in assets under management overseen by 103 investment and client service professionals.

Investment Objective

The investment team applies "behavioral finance" principles in constructing the Fund's portfolio. Behavioral finance theorizes that investment decisions are often influenced by emotion, and that investors can be both predictable and irrational at times in their decision making. Emotional investment decisions can lead to stock price anomalies that create buying opportunities in the marketplace. The Team seeks to capitalize on these behaviorally driven anomalies by employing a disciplined investment process that ranks companies in the Small Cap Value Diversified Fund's investment universe. Factors in the process include valuation, price momentum and earnings revisions. The Team also takes into account factors such as market capitalization and sector exposure in building a diversified portfolio.

Investment Considerations

The Fund may invest in undervalued securities which may not appreciate in value as anticipated or remain undervalued for longer than anticipated. Investments made in small to mid-capitalization companies are subject to greater risks than large company stocks due to limited resources and inventory as well as more sensitive to adverse conditions. The Fund may invest in foreign securities which may be more volatile and less liquid due to currency fluctuation, political instability, social and economic risks.

Fund Facts

Class A Shares Class B Shares Class C Shares Inst'l Shares Class R Shares
Ticker SPSAX SPSBX SPSDX SPSCX SPSRX
Inception Date 01/02/1997 01/02/1997 01/02/1997 01/02/1997 01/02/1997
Investment Minimum $1,000.00 $1,000.00 $1,000.00 $1,000,000.00 $1,000.00
Subsequent Investment NA NA NA NA NA
Max. Up Front Sales Charge 5.75% NA NA NA NA
Max. Deferred Sales Charge NA 5.00% 1.00% NA NA