NAV Purchases (no load)
Under certain circumstances the purchase of Fund shares may be effectuated at Net Asset Value. In order to qualify for these waivers, sufficient information must be submitted at the time of purchase with the application to determine whether the account is entitled to the waiver of the sales charge.
Class A Shares
Various individuals and organizations who meet the Funds’ requirements may buy shares at Net Asset Value (without the sales charge). Generally, these include institutional investors such as banks and insurance companies, investment advisers and their clients, certain tax exempt entities (including IRAs, pension and profit sharing plans) with a minimum $25,000 investment, purchasers with brokerage accounts in which they are charged fees based on the value of the account rather than commissions on transactions, sales through certain internet brokers, sales to pension and profit sharing plans for which Charles Schwab acts as a trustee, broker/dealer or record keeper and customers of financial institutions clearing through Charles Schwab. For a more detailed list of those who may qualify for fee waivers, plus a description of the requirements, see the respective SAI.
Class I Shares
Class I Shares are registered to be offered by the Funds and are not subject to a sales charge or any Rule 12b-1 fees. In addition to individuals who meet the initial $1.0 million investment minimum, Class I Shares are available for purchase by the following qualified institutional investors: a bank, savings institution, trust company, insurance company, investment company, pension or profit sharing trust, or other entity deemed by the principal underwriter to be a financial institution or institutional buyer or a broker-dealer, whether the purchaser is acting for itself or in some fiduciary capacity. The minimum initial investment for Class I Shares of the Funds is $1.0 million, and the minimum for additional investments in each Fund is $10,000 and is subject to change at any time. The minimum initial investment and the minimum additional investment requirements will not apply to purchases made by tax-exempt entities (including qualified retirement plans) with at least $25.0 million in assets, made through a sponsor or record keeper that aggregates purchases by such plans and maintains shares owned by such plans in a single account. These minimum investment requirements will also not apply to purchases made through a registered investment adviser, provided the purchase is made with related accounts which taken together at the time of purchase total at least $1.0 million. Additionally, the Distributor may waive the minimum initial investment to establish certain Class I Share accounts.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. The prospectus, which contains more complete information about this and other matters, should be read carefully before investing. To obtain a prospectus, please call 888-933-5391 or visit keeleyfunds.com.