Past performance does not guarantee future results. Click here to view the Fund’s standardized performance and top 10 holdings.  Fund holdings and sector allocations are subject to change at any time and are not recommendations to buy or sell any security.  Initial Public Offering (“IPO”) is the process of offering shares of a private corporation to the public in a new stock issuance for the first time.  A secondary market is a market where investors purchase securities or assets from other investors, rather than from issuing companies themselves.  Earnings esimates are an analyst’s estimate for a company’s future quarterly or annual earnings per share.  Valuation is the analytical process of determining the current (or projected) worth of a company.  An Exchange Traded Fund (“ETF”) is a type of pooled investment security that operates much like a mutual fund; but unlike a mutual fund, an ETF can be purchased or sold on a stock exchange the same way a regular stock can.  Gross Domestic Product (“GDP”) is the total value of goods produced and services provided in a country during one year.  The Wilshire 5000® Index is a market capitalization weighted  index that seeks to represent the broad U.S. equity market.  The Russell 2000® Growth Index is a small cap U.S. stock market index that makes up the smallest 2000 stocks in the Russell 3000 Index.  Investors cannot invest directly into an index. 

Earnings growth for a Fund holding does not guarantee a corresponding increase in the market value of the holding or the Fund.  Opinions expressed are those of the portfolio manager and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice.  References to securities are not a recommendation to buy or sell.

Investment Considerations
The Fund invests in small-cap securities which present a greater risk of loss than large-cap securities, and in growth companies which can be more sensitive to the company’s earnings and more volatile than the stock market in general. The Fund may also invest in foreign securities which are subject to risks including currency fluctuations, economic and political change and differing accounting standards. The Fund may invest in derivatives and initial public offerings (IPOs), which are highly volatile. Additional risk information may be found in the prospectus.

Investors should carefully consider the Hood River Small Cap Growth Fund’s investment objective, risks, charges, and expenses before investing. For a prospectus, which contains this and other important information about the Fund, please call 800-497-2960 or go to www.hoodrivercapital.com. Please read the prospectus carefully before investing or sending money.

Performance quoted represents past performance, which is no guarantee of future results. Investment returns and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than quoted. Please call 800-497-2960 to obtain current and the most recent month-end performance data. Investments involve risk, principal loss is possible.

The Hood River Small Cap Growth Fund is distributed by Quasar Distributors, LLC. Hood River Capital is the adviser to the Fund.