Average Annual Total Returns as of (05/31/2013)

Class A Shares Class B Shares Class C Shares Inst'l Shares
without sales charge with 5.75% sales charge without sales charge with 5.00% sales charge without sales charge with 1.00% sales charge
3 Months 7.98% 1.78% 7.73% 2.73% 7.69% 6.69% 8.04%
YTD 14.86% 8.29% 14.47% 9.47% 14.50% 13.50% 15.06%
1 Year 25.92% 18.65% 25.02% 21.02% 24.97% 24.97% 26.40%
3 Years 15.68% 13.40% 14.81% 14.05% 14.85% 14.85% 15.99%
5 Years 4.48% 3.26% 3.69% 3.51% 3.70% 3.70% 4.82%
10 Years 6.82% 6.18% 6.01% 6.01% 6.03% 6.03% 6.99%
Since Inception 8.06% 7.73% 7.23% 7.23% 7.28% 7.28% 8.14%

The total expense ratios for Class A, B and C Shares are 1.12%, 1.87% and 1.87%, respectively. There are currently no waivers in effect for A, B 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 Equity Index Fund invests all of its assets in the S&P 500 Index Master Portfolio ("Master Portfolio"), whose inception date is 7/2/93. The performance quoted for Class A and Class B incorporates the performance of the Master Portfolio prior to 9/11/00 (inception of Classes A and B), adjusted for the respective expenses of these classes (including Rule 12b-1 fees). The performance for Class C incorporates (a) the performance of the Master Portfolio prior to 9/11/00, adjusted for the expenses of Class B (including Rule 12b-1 fees), and (b) the performance of Class B up to 5/1/01 (inception of Class C), adjusted for the expenses of Class C. The inception date for Class A Shares is 9/11/00. The inception date for Class B Shares is 9/11/00. The inception date for Class C Shares is 5/1/01. The performance shown reflects the reinvestment of all dividend and capital gains distributions.