Performance data quoted represents past performance; past performance does not guarantee future results. 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 their original cost. Current performance may be lower or higher than the performance quoted.
The total annual operating expenses of the Institutional Share Class Funds are as follow: Cornerstone Growth = 1.00%; Focus = 1.12%; Cornerstone Mid Cap 30 = 0.97%; Cornerstone Large Growth = 0.99%; Cornerstone Value = 1.00%; Large Value = 1.18%; Equity and Income = 1.09%; Small Cap Financial = 1.17%; Large Cap Financial = 1.20%; Technology = 2.77%; Japan = 1.08%; Japan Small Cap = 1.47%. Performance shown is net of fees and expenses.
Performance for other Fund share classes will differ. The YTD Return shown for Institutional Class shares of the Large Cap Financial and Japan Small Cap Funds reflects actual Fund performance after June 15, 2015 (inception date of the share class). Performance prior to June 15, 2015 represents the performance of the Investor Class shares of each of the Funds and includes expenses that are not applicable to and are higher than those of the Institutional Class shares.