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.
Dividend Income Distributions: Leuthold Funds will distribute quarterly income dividends to shareholders of record as of June 25, 2008. The distribution's x-date and payable date will be June 26, 2008. The income dividend distributions are as follows: Core Investment Fund - Retail Class: $0.0811/share; Core Investment Fund - Institutional Class: $0.0857/share; Asset Allocation Fund - Retail Class: $0.0542/share; Asset Allocation Fund - Institutional Class: $0.0555/share; Undervalued & Unloved Fund: $0.0168/share. Please note: The income dividend distribution has a negative effect on the NAV of the corresponding funds.
Dividend Income Distributions: Leuthold Funds will distribute quarterly income dividends to shareholders of record as of March 26, 2008. The distribution's x-date and payable date will be March 27, 2008. The income dividend distributions are as follows: Core Investment Fund - Retail Class: $0.0488/share; Core Investment Fund - Institutional Class: $0.0535/share; Grizzly Short Fund: $0.0550/share; Asset Allocation Fund - Retail Class: $0.0420/share; Asset Allocation Fund - Institutional Class: $0.0451/share; Undervalued & Unloved Fund: $0.0295/share. Please note: The income dividend distribution has a negative effect on the NAV of the corresponding funds.
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.
For the periods ended 12/31/07: one-year, three-year, five-year, ten-year, and since inception annualized total returns, respectively, for each Fund were:
Core Fund, +19.00%, +15.23%, +19.51%, +12.08%, +12.35% (11/20/95);
Select Industries Fund, +20.74%, +19.28%, +23.95%, NA, +11.84% (6/19/00);
Grizzly Short Fund, +6.60%, -3.26%, -11.72%, NA, -0.79% (6/19/00);
Leuthold Asset Allocation Fund, +11.46%, NA, NA, NA, +10.29% (5/24/06);
Leuthold Select Equities Fund, +23.90%, NA, NA, NA, +13.95% (5/24/06);
Leuth. Undervalued & Unloved Fund, -4.55%, NA, NA, NA, -2.03% (11/14/06).
Annual Fund Operating Expenses, as noted in the Funds' Prospectus, dated January 31, 2008:
| Expense Ratios |
Gross |
Net (1) |
Net (2) |
| LAALX |
1.53% |
N/A |
1.32% |
| LAAIX |
1.32% |
N/A |
1.08% |
| GLBLX |
2.07% |
1.85% |
N/A |
| GLBIX |
1.87% |
N/A |
1.65% |
| LCORX |
1.26% |
N/A |
1.08% |
| LCRIX |
1.16% |
N/A |
0.98% |
| LSEQX |
2.16% |
1.85% |
N/A |
| LSLTX |
1.29% |
N/A |
N/A |
| UGLYX |
2.03% |
1.50% |
N/A |
| GRZZX |
2.86% |
N/A |
1.61% |
(1) The Advisor has agreed to waive its advisory fee to the extent necessary to insure that Net Expenses (excluding dividends and interest on short positions and Acquired Fund fees and expenses) do not exceed 1.50% of the average daily net assets for GLBLX, 1.85% of average daily net assets for LSEQX, and 1.50% of net daily average assets for UGLYX. The Advisor may recover waived fees in subsequent years. (2) Net Expense Ratio excluding dividends and interest on short positions, and Acquired Fund Fees and Expenses.
For a detailed explanation of these expense ratios, click here to 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.
Inception dates noted in parentheses. As disclosed in the prospectus, the Grizzly Short Fund has additional risks associated with short selling, including market risk, short sale risk, rising stock market risk, high portfolio turnover risk, and overvaluation investment approach risk.
Please read the prospectus carefully before you invest (1-800-273-6886).
DOFU: 07-01-2008
