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 6/30/14, Sterling has over $46 billion in assets under management overseen by 103 investment and client service professionals.

Investment Objective

To pursue its investment objective, the Fund will invest, under normal circumstances, at least 80% of its net assets plus borrowing for investment purposes in long or short positions in equity securities. While the Fund expects to invest primarily in U.S. equity securities (including common stocks, preferred stocks, warrants, American Depositary Receipts ("ADRs") and debt instruments that are convertible into equity securities), it may also invest in foreign equity securities, and securities of issuers of any capitalization or style.

The Fund seeks to achieve its objective primarily by selecting a group of experienced long/short equity managers who will serve as sub-advisers to the Fund. The portfolio managers believe that long/short equity investing can offer advantages relative to "long only" investing (e.g., lower volatility as defined by the standard deviation of monthly returns, enhanced risk-adjusted returns, and moderate correlation to equity markets) and can be a complementary piece of an investor's overall investment portfolio. Further, the portfolio managers believe that manager diversification offers an important element of risk management when pursuing long/short equity strategies due to the broad dispersion of approaches that long/short equity managers can take in the management of their portfolios.

Investment Considerations

All investments carry a certain amount of risk and the Fund cannot guarantee that it will achieve its investment objective. The portfolio managers' judgments about the capabilities of each Sub-Adviser and the impact of each Sub-Adviser's investment techniques on the Fund's overall investment exposures may prove incorrect, and the Fund may fail to produce the intended results. Unlike most traditional long only equity funds, the Fund will engage in short selling and derivative trading activities as a way of mitigating risk and/or enhancing return. Short sales by a Fund theoretically involves unlimited loss potential since the market price of securities sold short may continuously increase. These strategies may involve significant transaction costs and may amplify risk.

Fund Facts

Class A Shares Class C Shares Inst'l Shares
Ticker SLSAX SLSCX SLSIX
Inception Date 12/13/2013 12/13/2013 12/13/2013
Investment Minimum $1,000.00 $1,000.00 $1,000,000.00
Subsequent Investment NA NA NA
Max. Up Front Sales Charge 5.75% NA NA
Max. Deferred Sales Charge NA 1.00% NA