Murray Stahl, Co-Portfolio Manager
David Kingsley, Co-Portfolio Manager
¹ Assets represent total net assets for the Water Infrastructure Fund Master
Portfolio, which includes both the no-load and advisor class feeder
funds.
² The Investment Adviser to the Water Infrastructure Portfolio has voluntarily agreed to waive fees and reimburse expenses so that Total Annual Fund Operating Expenses do not exceed 2.49% for Advisor Class C shares, respectively. These waivers and reimbursements may be discontinued at any time.
