• Stock Funds
• Hybrid Funds
• Bond Funds
• Money Market Funds

Stock Funds

Fund	Goal	Manager(s)
MTB International Equity Fund 1	To seek long-term capital appreciation, primarily through a diversified portfolio of non-U.S. equity securities.	LSV8 SSgA Funds Management Hansberger Global Investors
MTB Small Cap Growth Fund 2	Long-term capital appreciation.	Steven R. Crain, CFA James Thorne, Ph.D. Bradley A. Williams
MTB Small Cap Stock Fund 2	To seek growth of capital.	LSV8 Copper Rock Capital Partners8
MTB Mid Cap Growth Fund	Long-term capital appreciation.	Mark Schultz, D.Phil, CFA William F. Dwyer, CFA
MTB Mid Cap Stock Fund	To provide total return. The Fund's total return will consist of two components: (1) changes in the market value of its portfolio securities. (2) The Fund expects that capital appreciation will comprise the largest component of its total return.	Mark Schultz, D.Phil, CFA William F. Dwyer, CFA LSV8
MTB Multi Cap Growth Fund 2	Long-term capital appreciation.	Allen J. Ashcroft, Jr. Mark Schultz, D.Phil, CFA William F. Dwyer, CFA James Thorne, Ph.D.
MTB Large Cap Growth Fund	To provide capital appreciation.	Allen J. Ashcroft, Jr.
MTB Large Cap Stock Fund	Growth of principal.	William F. Dwyer, CFA Mark Schultz, D.Phil, CFA
MTB Equity Index Fund	Investment results that correspond to the performance of the Standard & Poor's 500 Index (S&P 500).3	Clarence W. Woods, Jr. Peter C. Hastings
MTB Large Cap Value Fund	To provide income. Capital appreciation is a secondary, non-fundamental investment consideration.	NWQ Investment Management Co., LLC8
MTB Equity Income Fund	Current income and growth of capital.	DePrince, Race, & Zollo, Inc.8
Hybrid Funds
Fund	Goal	Manager(s)
MTB Managed Allocation Fund: Aggressive Growth 4	Seeks capital appreciation.	Valerie J. Hodosi, CFA, CIMA Mark Stevenson, CFA
MTB Managed Allocation Fund: Moderate Growth 4	Seeks capital appreciation and, secondarily, income.	Valerie J. Hodosi, CFA, CIMA Mark Stevenson, CFA
MTB Managed Allocation Fund: Conservative Growth 4	Seeks capital appreciation and income.	Valerie J. Hodosi, CFA, CIMA Mark Stevenson, CFA
MTB Balanced Fund	To provide total return. The Fund's total return will consist of both current income and, to a lesser extent, capital appreciation, provided by fixed income securities, and long-term capital appreciation provided by equity securities.	Allen J. Ashcroft, Jr. James M. Hannan DePrince, Race, & Zollo, Inc.8
Bond Funds
Fund	Goal	Manager(s)
MTB Intermediate-Term Bond Fund 9	Current Income.	Wilmer C. Stith III, CFA
MTB Income Fund 9	Primarily current income and, secondarily, capital growth.	Wilmer C. Stith III, CFA James M. Hannan
MTB Short-Term Corporate Bond Fund 9	Current Income.	Wilmer C. Stith III, CFA
MTB Maryland Municipal Bond Fund 5, 9	Current income exempt from federal regular tax and Maryland state and local income taxes.	Susan L. Schnaars, CFA
MTB Pennsylvania Municipal Bond Fund 5, 9	Current income exempt from federal regular income tax and Pennsylvania personal income tax.	Susan L. Schnaars, CFA
MTB New York Municipal Bond Fund 5, 9	To provide current income which is exempt from federal regular income tax and the personal income taxes imposed by the State of New York and New York municipalities and is consistent with the preservation of capital.	Mark Tompkins, CFA
MTB U.S. Government Bond Fund 9	To provide current income. Capital appreciation is a secondary, non-fundamental investment consideration.	Wilmer C. Stith III, CFA James M. Hannan
MTB Short Duration Government Bond Fund 9	To seek current income, with preservation of capital as a secondary objective.	Robert J. Truesdell James M. Hannan
MTB Virginia Municipal Bond Fund 5, 9	Current income exempt from federal regular income tax and Virginia personal income tax.	Susan L. Schnaars, CFA
Money Market Funds
Fund	Goal	Manager(s)
MTB Money Market Fund 6	To seek current income with liquidity and stability of principal.	Kimberly Rogers
MTB Pennsylvania Tax-Free Money Market Fund 5, 6	Maximizing current income exempt from federal and Pennsylvania personal income taxes and providing liquidity and security of principal.	Rebecca Dyson
MTB New York Tax-Free Money Market Fund 5, 6	To seek a high level of current interest income that is exempt from federal regular income tax as is consistent with liquidity and relative stability of principal.	Rebecca Dyson
MTB Tax-Free Money Market Fund 6, 7	Maximizing current income exempt from federal income tax and providing liquidity and stability of principal.	Rebecca Dyson
MTB U.S. Government Money Market Fund 6	To seek current income and provide liquidity and security of principal.	Kimberly Rogers
MTB U.S. Treasury Money Market Fund 6	To seek current income with liquidity and stability of principal.	Kimberly Rogers
MTB Prime Money Market 6	To seek current income with liquidity and stability of principal.	Kimberly Rogers

¹ International investing involves special risks including currency risk, increased volatility of foreign securities, political risks and differences in auditing and other financial standards.

² Small company stocks may be less liquid and subject to greater price volatility than large capitalization stocks.

³ The S&P 500 is an unmanaged index large cap common stocks.

⁴ Due to their strategy of investing in other mutual funds, these funds may incur certain additional expenses and tax results that would not be present with a direct investment in the underlying funds.

⁵ Income may be subject to the federal alternative minimum tax.

⁶An investment in money market funds is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in these funds.

⁷ Income may be subject to the federal alternative minimum tax and state and local taxes.

⁸ Represents the fund's sub-adviser.

⁹ Bond prices are sensitive to changes in interest rates and a rise in interest rates can cause a decline in their prices.