*Annualized Returns

Past performance is not indicative of future performance. The Russell 2000 Index consists of the 2,000 smallest companies and the Russell 2500 Index consists of the 2,500 smallest companies in the Russell 3000 total capitalization universe. These indices are considered a measure of small and mid capitalization stock performance. The Standard & Poor's 500 Stock Index (S&P 500) is a capitalization-weighted index which covers industrial, utility, transportation and financial service companies, and represents approximately 75% of the New York Stock Exchange (NYSE) capitalization and 30% of NYSE issues. This index is considered a measure of large capitalization stock performance. These indices do not reflect any commissions or fees which would be incurred by an investor purchasing the stocks they represent. The Balanced Benchmark is a combined index of which 60% reflects the Russell 2500 Index and 40% the Barclay Government/Credit Index. The performance of the Fund and of the Averages is computed on a total return basis which includes reinvestment of all distributions.