* Performance of the unmanaged S&P 500 Index includes reinvestment of dividends and distributions. The performance of the S&P 500 will be updated daily after 12:30am.
All performance presented reflects past performance. Past performance is no guarantee of future results. Investment returns and principal will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance quoted. For performance data current to the most recent month end, call Leuthold Shareholders Services, toll-free, 1-800-273-6886.
Investors should consider the investment objectives, risks, charges and expenses of the investment company carefully before investing. The Prospectus contains this and other information about the Funds. For current Prospectus, call toll-free, 1-800-273-6886, or download from our web site: www.LeutholdFunds.com. Please read the Prospectus carefully before you invest.
December 2011 Income Dividend Distributions: The following table shows the income dividend distributions for the Leuthold Funds. The record date is December 28, 2011. The x-date and payable date is December 29, 2011. Note: The distributions will have a negative effect on the NAV of the corresponding Funds.
Fund
Income Dividend
LCORX
$0.2672
LCRIX
$0.2683
LAALX
$0.1731
LAAIX
$0.1742
GLBLX
$0.0642
GLBIX
$0.0685
LGINX
$0.0207
LGIIX
$0.0212
Other Leuthold Funds
None
November 2011 Capital Gains Distributions: The following table shows the capital gains distributions for the Leuthold Funds. The record date is November 28, 2011. The x-date and payable date is November 29, 2011. Note: The distributions will have a negative effect on the NAV of the corresponding Funds.
Fund
Short-Term Cap Gains
Long-Term Cap Gains
GLBLX
$0.0000
$0.0978
GLBIX
$0.0000
$0.0978
Other Leuthold Funds
None
None
Performance for the periods ended 12/31/11:
Funds
Qtr
1 Year
3 Year
5 Year
10 Year
Since Inception
Inception Date
LAALX
+3.63%
-3.63%
+10.74%
+0.89%
N/A
+1.67%
05/24/2006
LAAIX
+3.73%
-3.38%
+11.07%
N/A
N/A
+0.97%
01/31/2007
GLBLX
+2.03%
-7.44%
+12.05%
N/A
N/A
+1.49%
07/01/2008
GLBIX
+2.07%
-7.24%
+12.24%
N/A
N/A
+1.33%
04/30/2008
LCORX
+2.69%
-5.34%
+7.71%
+1.53%
+7.11%
+8.49%
11/20/1995
LCRIX
+2.70%
-5.19%
+7.86%
+1.65%
N/A
+2.87%
01/31/2006
LSLTX
+10.86%
-6.50%
+3.72%
-2.52%
+4.03%
+4.67%
06/19/2000
GRZZX
-14.68%
-1.92%
-26.44%
-5.92%
-8.14%
-3.65%
06/19/2000
LGCTX
+7.57%
-25.09%
N/A
N/A
N/A
-7.62%
07/22/2009
LGCIX
+7.66%
-24.91%
N/A
N/A
N/A
-7.39%
07/22/2009
LHEQX
-2.14%
-2.14%
N/A
N/A
N/A
-7.71%
07/22/2009
LHEIX
-2.14%
-2.02%
N/A
N/A
N/A
-7.62%
07/22/2009
LGINX
+6.66%
-14.15
N/A
N/A
N/A
+3.31%
05/17/2010
LGIIX
+6.87%
-13.79
N/A
N/A
N/A
+3.65%
05/17/2010
Annual Fund Operating Expenses, as noted in the Leuthold Funds' Prospectus, dated January 31, 2011, and the Prospectus Supplement dated May 16, 2011:
Expense Ratios (1)
Gross
Net (2)
Net (3)
LCORX
1.51%
N/A
N/A
LCRIX
1.41%
N/A
N/A
LAALX
1.72%
N/A
N/A
LAAIX
1.51%
N/A
N/A
GLBLX
1.89%
N/A
N/A
GLBIX
1.71%
N/A
N/A
LSLTX
1.30%
N/A
N/A
LGINX
4.43%
1.97%
N/A
LGIIX
4.18%
1.72%
N/A
LGCTX
1.75%
N/A
1.85%
LGCIX
1.52%
N/A
1.61%
LHEQX
3.53%
2.24%
N/A
LHEIX
3.28%
1.99%
N/A
GRZZX
2.74%
N/A
N/A
(1) The Expense Ratios, excluding dividends and interest on short positions, and Acquired Funds Fees and Expenses, are as follows: LCORX 1.12%, LCRIX 1.02%, LAALX 1.32%, LAAIX 1.11%, GLBLX 1.50%, GLBIX 1.32%, LGINX 4.42%, LGIIX 4.17%, LHEQX 2.97%, LHEIX 2.72% and GRZZX 1.49%. (2) The Adviser has agreed to waive its advisory fees to the extent necessary to insure that the net expenses (excluding dividends and interest on short positions and acquired fund fees) do not exceed 1.85% of the average daily net assets for LGINX and LGIIX, and 2.20% for LHEQX and LHEIX. (3) The Adviser recovered advisory fees previously waived for LGCTX and LGCIX.
For a detailed explanation of these expense ratios, please review the Funds' Prospectus.
All performance presented reflects past performance. Past performance is no guarantee of future results. Investment returns and principal will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance quoted. For performance data current to the most recent month end, call Leuthold Shareholders Services, toll-free, 1-800-273-6886.
As disclosed in the prospectus, the risks of investing in the Leuthold Funds may include, but are not limited to, interest rate risk, market risk, short sale risk, small/medium capitalization risk, high portfolio turnover risk, credit risk, currency risk, foreign securities risk, emerging markets risk, and quantitative investment approach risk. Please read the prospectus carefully before you invest (1-800-273-6886).
DOFU: 01-03-2012