Cambiar Aggressive Value Fund
The Cambiar Aggressive Value Fund's primary goal is to generate strong long-term performance using a concentrated approach in a global all-cap mandate. Portfolios invested in this strategy will typically hold 20-30 positions in companies Cambiar believes represent the best opportunities for long-term appreciation. The Aggressive Value portfolio will employ a relative value approach, whereby it searches for companies trading at the low end of historic and sectoral valuation ranges, with a strong market position or product franchise and good overall financial condition.

Ticker
CAMAX

Share Class
Investor

Date of Fund Inception
August 31, 2007

Portfolio Assets as of 8/31/10
$25.1 Million

Minimum Investment
$2,500 / $500 IRA

Fees
Total Annual Expense: 1.70%
Fee Waivers: -0.20%
Net Expenses: 1.50%

Cambiar has voluntarily agreed to waive all or part of the advisor fee in order to keep total fund expenses at or below 1.5%.   There can be no assurance that the Advisor will continue to waive the fees.

Morningstar Rating as of 8/31/10 
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Overall rating of 4 stars for the period ending 8/31/10 out of 1124 Large Value Funds. Morningstar rankings are based on risk adjusted returns and the Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-year Morningstar Rating metric.

For each fund with at least a three year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year Morningstar Ratings metric. CAMAX was rated against 1124 Large Value funds over a three year period and received a Morningstar Rating of 4 stars respectively. Past performance is no guarantee of future results.