The Arbitrage Credit Opportunities Fund

Fund Fees

Updated 09.30.2013

Maximum Sales Fees %
Initial
Deferred 1.0

Updated 09.30.2013

Maximum Fees %
Administrative 0.035
Management 1.0
Redemption

Updated 09.30.2013

Actual Fees %
12b-1 1.0
Management 1.0
Net Expense Ratio: Annual Report 2.25
Net Expense Ratio: Prospectus 2.25

Updated 07.03.2014

Total Cost Projections
3-Year $959.00
5-Year $1,939.00
10-Year $4,420.00

Purchase Information

Updated 09.30.2013

Minimum Investments
Initial $2,000.00
Additional
Initial IRA $2,000.00
Additional IRA
Initial AIP
Additional AIP