SGI Global Equity Fund Class I SGLIX

The investment seeks long-term capital appreciation. Under normal market conditions, the fund invests at least 80% of the value of its net assets, plus any borrowings for investment purposes, in equity securities. It invests, under normal market conditions, significantly (ordinarily at least 40% - unless market conditions are not deemed favorable by the Adviser, in which case the fund would invest at least 30%) in non-U.S. companies. The fund's investments in equity securities include, without limitation, common stocks, preferred stocks, warrants to acquire common stock, and securities convertible into common stock.