Average Annual Total Returns as of (08/31/2014)

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 0.71% -1.28% 0.52% -0.48% 0.67%
YTD 4.17% 2.07% 3.72% 2.72% 4.34%
1 Year 4.79% 2.69% 4.02% 4.02% 5.05%
3 Years 2.67% 1.97% 2.30% 2.30% 2.80%
Since Inception 3.12% 2.48% 2.77% 2.77% 3.25%

The gross expense ratios for Class A, C and I Shares are 0.91%, 1.66% and 0.66%, respectively. The net expense ratios for Class A, C and I Shares are 0.87%, 1.62% and 0.62%, respectively. The Fund's Adviser has contractually agreed to limit the management fees paid by the Fund to 0.31% for the period from February 1, 2014 through January 31, 2015. This contractual limitation may be terminated during this period only by the Fund, and will automatically terminate upon termination of the Investment Advisory Agreement between the Fund and the Adviser.

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 Securitized Opportunities Fund reflects the deduction of fees for value-added services associated with a mutual fund, such as investment management and fund accounting fees. The inception date for Class A Shares is 2/1/2013. The performance shown reflects the reinvestment of all dividend and capital gains distributions.