As of 7/31/10 the Fund was rated 2 stars out of 958 funds, 2 stars out of 800 funds and 2 stars out of 433 funds for the 3-, 5- and 10-year periods, respectively.
Load-Waived Rating
As of 7/31/10 the Fund was rated 3 stars out of 958 funds, 3 stars out of 800 funds and 2 stars out of 433 funds for the 3-, 5- and 10-year periods, respectively.
Overall Rating is based on the 3-, 5- and 10-year Morningstar Risk-Adjusted Returns and accounts for variation in a fund's monthly performance. The overall rating includes effects of sales charges, loads and redemption fees, whereas the load-waived rating does not.
Fund Prices
Average Annual Total Returns
NAV as of 09.03.2010
MONTHLY as of
QUARTERLY as of 06.30.2010
Expense Ratios
Symbol
NAV/POP
Price
Change
YTD
1 yr
5 yrs
10 yrs
1 yr
5 yrs
10 yrs
Before Waivers
After Waivers
ARBAX
NAV
8.37
0.06
0.09
10.22
1.13
1.32
9.77
0.41
0.65
2.68
2.08
ARBAX
POP
8.86
0.07
-5.47
4.18
-0.01
0.75
3.71
-0.73
0.08
2.68
2.08
Risk Disclosures
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate, and an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Bond prices are sensitive to changes in interest rates and a rise in interest rates can cause a decline in their prices.
MTB Investment Advisors, Inc., a subsidiary of Manufacturers and Traders Trust Company (“M&T Bank”) is the investment advisor to the MTB Group of Funds. ALPS Distributors, Inc., which is not affiliated with M&T Bank, is the distributor of the MTB Group of Funds.
When investing in small-cap stocks you may notice greater fluctuations in market value. Investments in securities of non-U.S. issuers and foreign currencies involve risks different from those of U.S. issuers. Investments and securities of emerging countries involves potential risks relating to political and economic uncertainties. Under certain market conditions, these securities could be consider less liquid. When investing in bonds, you are subject but not limited to, the same interest rate, inflation and credit risks associated with the underlying bonds owned by the Fund. Return of principal is no guaranteed. Each allocation fund is a fund of funds, which is a mix of underlying MTB Funds. There is no guarantee that the funds will meet their objectives. Shareholders of the allocation funds indirectly bear the expenses of the underlying funds.
Value stocks can perform differently from the market as a whole. They can remain undervalued by the market for long periods of time.
The 30-day current net ("SEC") yield is calculated by dividing the net investment income per share for the 30 days ended on the date of calculation by the maximum offering price per share on that date. The figure is compounded and annualized. The 30-day yield unsubsidized is calculated in the absence of temporary expense waivers or reimbursements thus resulting in a lower yield.
The Gross Expense Ratio is the Fund's total operating expenses taken from the most recent prospectus. This ratio excludes waivers and/or expense reimbursements the fund manager might apply. The Net Expense Ratio, also taken from the most recent prospectus, represents the expenses paid with inclusion of waivers an/or expense reimbursements. When waivers and/or expense reimbursements are included, the Fund's expenses will be lower and performance will be higher for the disclosed expense waiver period. Waiver and/or expense reimbursements can be voluntary or mandated by contract and can expire either at a specific date, at will, or indefinitely. Funds closed to new investors are not requires to file a prospectus, thus the prospectus gross and net expense ratios may not be available.
POP Total returns reflect the maximum front-end sales charge of 5.5% for the equity/stock funds. For more information on sales charges please refer to the MTB Funds prospectus. POP Total returns reflect the maximum front-end sales charge of 5% for the Strategic Allocation Fund. For more information on sales charges please refer to the MTB Funds prospectus. POP Total returns reflect the maximum front-end sales charge of 4.5% for the bond funds (except for Short Duration Government Bond Fund and Short-Term Corporate Bond Fund). For more information on sales charges please refer to the MTB Funds prospectus. POP Total returns reflect the maximum CDSC fee of 5%. B shares are not subject to front-end sales charges.
