# EDGAR Filing Document

**Accession Number:** 0001414039
**File Stem:** 0001580642-23-001288
**Filing Date:** 2023-3
**Character Count:** 27872
**Document Hash:** 7aba5f239807d741cf667e438a749e2e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-23-001288.hdr.sgml**: 20230306

**ACCESSION NUMBER**: 0001580642-23-001288

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230306

**DATE AS OF CHANGE**: 20230306

**EFFECTIVENESS DATE**: 20230306

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Miller Investment Trust
- **CENTRAL INDEX KEY:** 0001414039
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-146552
- **FILM NUMBER:** 23709907

**BUSINESS ADDRESS:**
- **STREET 1:** 20 WILLIAM STREET
- **STREET 2:** SUITE 310
- **CITY:** WELLESLEY
- **STATE:** MA
- **ZIP:** 02481
- **BUSINESS PHONE:** 781-416-4000

**MAIL ADDRESS:**
- **STREET 1:** 20 WILLIAM STREET
- **STREET 2:** SUITE 310
- **CITY:** WELLESLEY
- **STATE:** MA
- **ZIP:** 02481

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wellesley Investment Trust
- **DATE OF NAME CHANGE:** 20071003

## Series and Classes Contracts Data

### Miller Market Neutral Income Fund (Series ID: S000073803)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000230984 | Miller Market Neutral Income Fund Class C | MMNCX           |
| C000230985 | Miller Market Neutral Income Fund Class I | MMNIX           |
| C000230986 | Miller Market Neutral Income Fund Class A | MMNAX           |

SHARES ARE NOT CURRENTLY OFFERED

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| |
|:---|
| &nbsp;&nbsp;Miller Market Neutral Income Fund |
| &nbsp;&nbsp;Summary Prospectus |
| &nbsp;&nbsp;&nbsp;**March 1, 2023** |
| &nbsp;&nbsp;&nbsp;Class A Shares: MMNAX |
| &nbsp;&nbsp;&nbsp;Class C Shares: MMNCX |
| &nbsp;&nbsp;&nbsp;Class I Shares: MMNIX |
| &nbsp;&nbsp;&nbsp;*Before you invest, you may want to review the Fund's Prospectus, which contains more information about the Fund and its risks. The Fund's Prospectus and Statement of Additional Information, both dated March 1, 2023, is incorporated by reference into this Summary Prospectus. You can obtain these documents and other information about the Fund online at www.themillerfamilyoffunds.com/funddocuments. You can also obtain these documents at no cost by completing a document request form on our website, www.millerfamilyoffunds.com or by calling 1-877-441-4434 or by sending an email request to ordermiller@ultimusfundsolutions.com, or ask any financial adviser, bank or broker-dealer that offers shares of the Fund.* |

---

SHARES ARE NOT CURRENTLY OFFERED

**Investment Objective**

The Fund's primary investment objective is to maximize current income consistent with stability of principal. The Fund's investment objective is a non-fundamental policy and may be changed without shareholder approval upon 60 days' written notice to shareholders.

**Fees and Expenses of the Fund**

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.**

You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $100,000 in the Fund. More information about these and other discounts is available from your financial professional and under the heading "**How to Purchase Shares"** on page 22 of the Fund's Prospectus. In addition, descriptions of the sales load waivers and/or discounts for Class A shares with respect to certain financial intermediaries are reproduced in "Appendix A: Intermediary-Specific Sales Charge Waivers and Discounts" to the Prospectus based on information provided by the financial intermediary.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Shareholder Fees**<br> (fees paid directly from your investment) | &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;**Class I** |
| &nbsp;&nbsp;Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price) | &nbsp;&nbsp;3.75% |  |  |
| &nbsp;&nbsp;Maximum Deferred Sales Charge (Load) <br> (as a % of offering price) | &nbsp;&nbsp;None<sup>(1)</sup> | &nbsp;&nbsp;1.00%<sup>(2)</sup> |  |
| &nbsp;&nbsp;Maximum Sales Charge (Load) on Reinvested Dividends and Other Distributions |  |  |  |
| &nbsp;&nbsp;Redemption Fee (as a % of amount redeemed) |  |  |  |
| &nbsp;&nbsp;**Annual Fund Operating Expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) |  |  |  |
| &nbsp;&nbsp;Management Fees | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% |
| &nbsp;&nbsp;Distribution and/or Service (12b-1) Fees | &nbsp;&nbsp;0.50% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;Other Expenses | &nbsp;&nbsp;0.31% | &nbsp;&nbsp;0.31% | &nbsp;&nbsp;0.31% |
| &nbsp;&nbsp;Total Annual Fund Operating Expenses<sup>(3)</sup> | &nbsp;&nbsp;2.06% | &nbsp;&nbsp;2.56% | &nbsp;&nbsp;1.56% |

---

(1) There is a 1.00% contingent deferred
sales charge ("CDSC") for investments of $250,000 or more (see "How to Purchase Shares" below) on Class A shares
sold within the first 18 months of purchase, unless you are otherwise eligible to purchase Class A shares without an initial sales charge
or are eligible for a waiver of the CDSC (see "Waiver of Contingent Deferred Sales Charges" below).

(2) If you redeem Class C shares within 12 months after purchase, you will be
charged a CDSC of up to 1.00%. The charge will apply to the lesser of the original cost of the Class C shares being redeemed or the proceeds
of your redemption and will be calculated without regard to any redemption fee. When you redeem Class C shares, the redemption order is
processed so that the lowest CDSC is charged. Class C shares that are not subject to a CDSC are redeemed first. In addition, you will
not be charged a CDSC when you redeem shares that you acquired through reinvestment of the Fund's dividends or capital gains. Any
CDSC paid on the redemptions of Class C shares expressed as a percentage of the applicable redemption amount may be higher or lower than
the charge described due to rounding.

(3) Estimated for the current fiscal year.

SHARES ARE NOT CURRENTLY OFFERED

**Example** 

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**1 Year** | &nbsp;&nbsp;**3 Years** |
| &nbsp;&nbsp;**Class A** | &nbsp;&nbsp;$576 | &nbsp;&nbsp;$996 |
| &nbsp;&nbsp;**Class C** | &nbsp;&nbsp;$259 | &nbsp;&nbsp;$796 |
| &nbsp;&nbsp;**Class I** | &nbsp;&nbsp;$159 | &nbsp;&nbsp;$493 |

---

**Portfolio Turnover**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The Fund has only recently commenced operations.

**Principal Investment Strategies**

Wellesley Asset Management, Inc. ("Wellesley" or the "Advisor"), the Fund's advisor, seeks to achieve maximum current income while remaining market neutral by achieving a low correlation to the fluctuations of the U.S. stock market.

The Fund invests in equity, convertible and synthetic convertible securities of companies with a dollar-weighted average maturity of any duration. The Fund takes long and short positions in securities of issuers without regard to market capitalization. The Fund may purchase put options to help insulate the Fund from market risk.

SHARES ARE NOT CURRENTLY OFFERED

Wellesley purchases a convertible bond when it believes there is a high probability that the principal amount of the fixed-income component of the investment will be repaid upon put or maturity and the conversion component offers potential upside. Wellesley attempts to identify convertible bonds that are trading at attractive valuations relative to Wellesley's evaluation of the issuer's creditworthiness. Wellesley's investment process includes the use of both quantitative and fundamental research on each issuer to analyze credit quality and the specific terms of each offering. In general, Wellesley sells securities when an issuer's credit quality deteriorates, the conversion feature of a security is no longer a likely source of capital appreciation, to increase diversification, or when Wellesley believes more attractive investments are available. Wellesley diversifies the Fund's portfolio in terms by company, industry, sector and other factors in attempt to lower the risks of the portfolio.

In an effort to enhance income, the Fund may write call and put options. The Fund may write call options on individual equity securities and convertible bonds that are in the Fund's portfolio. In addition, the Fund may write call options on ETFs and securities indexes.

In an effort to minimize the downside risk of individual equity security and convertible bond holdings or the Fund's portfolio in its entirety, the Fund may purchase put options on individual securities, ETFs and securities indexes.

The Fund may invest in stock of, warrants to purchase stock of, and other interests in special purpose acquisition companies (SPACs) or similar special purposes entities. A SPAC is a publicly traded company that raises investment capital for the purpose of acquiring or merging with an existing company.

The Fund may employ leverage, in the form of borrowing, to increase the potential gain from attractive securities selection. Such borrowing can benefit the Fund if the net rate of return on its investments purchased with the proceeds of the loan exceeds the interest or fees payable thereon. The Fund may use indebtedness in an amount up to approximately 33 1/3% of the Fund's total assets (including borrowing proceeds) to leverage the Fund's portfolio.

SHARES ARE NOT CURRENTLY OFFERED

**Principal Investment Risks**

Investing in any mutual fund involves risk, including the risk that you may receive little or no return on your investment, and that you may lose part or all of your investment. Therefore, before you invest in this Fund you should carefully evaluate the risks. The price of Fund shares will increase and decrease according to changes in the value of the Fund's investments. The other principal risks of investing in the Fund are:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Active Management Risk:* Wellesley's
objective judgments about the attractiveness and potential appreciation of particular investments in which the Fund invests may prove
to be incorrect and there is no guarantee that the Fund's investment strategy will produce the desired results.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Convertible Hedging Risk:* If the market price of the underlying common
stock increases above the conversion price on a convertible security, the price of the convertible security will increase. The Fund's
increased liability on any outstanding short position would, in whole or in part, reduce this gain.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Convertible Bond Risk:* Convertible bonds are hybrid securities that
have characteristics of both bonds and common stocks and are subject to risks associated with both debt securities and equity securities.
Convertible bonds that are rated below investment grade are subject to the risks associated with high-yield investments. Convertible bonds
may have *less market* liquidity and their prices may be more volatile than equity and fixed-income securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Counterparty Credit Risk:* The Fund makes investments in financial
instruments and over-the-counter ("OTC") traded derivatives involving counterparties to gain exposure to a particular group
of securities, index, asset class or other reference asset without actually purchasing those securities or investments, to hedge a position,
or for other investment purposes. Through these investments and related arrangements (e.g., prime brokerage or securities lending arrangements
or derivatives transactions), the Fund is exposed to credit risks that the counterparty may be unwilling or unable to make timely payments
or otherwise to meet its contractual obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Covered Call Writing Risk:* As
the writer of a covered call option on a security, the Fund foregoes, during the option's life, the opportunity to profit from increases
in the market value of the security, covering the call option above the sum of the premium and the exercise price of the call.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Derivatives Risk:* The derivative instruments
in which the Fund may invest either directly or through an underlying fund, may be more volatile than other instruments. The risks associated
with investments in derivatives also include liquidity, interest rate, market, credit and management risks, mispricing or improper valuation.
Changes in the market value of a derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose
more than the principal amount invested. In addition, if a derivative is being used for hedging purposes there can be no assurance given
that each derivative position will achieve a perfect correlation with the security or currency against which it is being hedged, or that
a particular derivative position will be available when sought by the portfolio manager.

SHARES ARE NOT CURRENTLY OFFERED

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Equity Securities Risk:* The price of equity securities may rise or
fall because of economic or political changes. Stock prices in general may decline over short or even extended periods of time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Hedging Risk:* The Fund may, but is not required to, engage in various
investments or transactions that are designed to hedge a position that the Fund holds. There can be no assurance that the Fund's
hedging investments or transactions will be effective. Hedging investments or transactions involve costs and may reduce gains or result
in losses, which may adversely affect the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Interest Rate Risk:* The market value of debt securities tends to
decline as interest rates increase and tends to increase as interest rates decline. An issuer of a debt security may not be able to make
principal and interest payments on the security as they become due. Debt securities may also be subject to prepayment or redemption risk,
which tends to increase when the coupon or interest payment is greater than prevailing interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Limited History of Operations Risk:* The Fund is a new mutual fund
and has a limited history of operations for investors to evaluate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Leverage Risk:* Borrowing
and certain transactions such as swaps in which the Fund is permitted to engage may effectively add leverage and thus leverage
risk to the Fund's portfolio. The Fund may segregate or "earmark"
liquid assets or otherwise cover such transactions in an effort to mitigate the leverage risk such transactions present. Leveraging generally
exaggerates the effect on NAV of any increase or decrease in the market value of the Fund's portfolio securities. Leveraging may
cause the Fund to liquidate portfolio positions to satisfy its obligations or to meet segregation requirements when it may not be advantageous
to do so. Leveraging, including borrowing, may cause the Fund to be more volatile than if the Fund had not been leveraged.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Liquidity Risk:* Liquidity risk exists when particular investments
are difficult to purchase or sell. The Fund's investments in illiquid securities may reduce the returns of the Fund because it may
be unable to sell the illiquid securities at an advantageous time or price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Options Risk:* The Fund's ability to close out its position
as a purchaser or seller of an over-the-counter or exchange-listed put or call option is dependent, in part, upon the liquidity of the
options market. There are significant differences between the securities and options markets that could result in an imperfect correlation
among these markets, causing a given transaction not to achieve its objectives. The Fund's ability to utilize options successfully
will depend on the ability of the Fund's investment advisor to predict pertinent market movements, which cannot be assured. By
writing call options, the Fund is subject to the risk of counterparty default, as well as the potential for unlimited loss.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Portfolio Selection Risk:* The value of your
investment may decrease if the investment advisor's judgment about the attractiveness, value or market trends affecting a particular
security, issuer, industry, or sector or about market movements is incorrect.

SHARES ARE NOT CURRENTLY OFFERED

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Portfolio Turnover Risk:* Increased portfolio turnover causes the
Fund to incur higher brokerage costs, which may adversely affect the Fund's performance and may produce increased taxable distributions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Private Placement and Illiquid Securities Risk:* Certain securities
are privately placed but are eligible for purchase and sale by certain qualified institutional buyers such as the Fund under Rule 144A
under the Securities Act of 1933. If any Rule 144A security held by the Fund should become illiquid, the value of the security may be
reduced and a sale of the security may be more difficult.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Recent Market Events Risk:* The Fund is subject
to the risk that geopolitical events will disrupt securities markets and adversely affect global economies and markets. Due to the increasing
interdependence among global economies and markets, conditions in one country, market, or region might adversely impact markets, issuers
and/or foreign exchange rates in other countries, including the United States. Wars, terrorism, global health crises and pandemics, and
other geopolitical events that have led, and may continue to lead, to increased market volatility and may have adverse short- or long-term
effects on U.S., and global economies and markets, generally. For example, the COVID-19 pandemic has resulted, and may continue to result,
in significant market volatility, exchange suspensions and closures, declines in global financial markets, higher default rates, supply
chain disruptions, and a substantial economic downturn in economies throughout the world. Natural and environmental disasters and systemic
market dislocations are also highly disruptive to economies and markets. In addition, military action by Russia in Ukraine has, and may
continue to, adversely affect global energy and financial markets and therefore could affect the value of the Fund's investments,
including beyond the Fund's direct exposure to Russian issuers or nearby geographic regions. The extent and duration of the military
action, sanctions, and resulting market disruptions are impossible to predict and could be substantial. Those events as well as other
changes in foreign (non-U.S.) and domestic economic, social, and political conditions also could adversely affect individual issuers or
related groups of issuers, securities markets, interest rates, credit ratings, inflation, investor sentiment, and other factors affecting
the value of the Fund's investments. Any of these occurrences could disrupt the operations of the Fund and of the Fund's service
providers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Short Sale Risk:* The Fund may incur a loss (without limit) as a result
of a short sale if the market value of the borrowed security (i.e., the Fund's short position) increases between the date of the
short sale and the date the Fund replaces the security. The Fund may be unable to repurchase the borrowed security at a particular time
or at an acceptable price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Small- and Mid-Capitalization Companies Risk:* Compared to large-capitalization
companies, small- and mid-capitalization companies may be less stable and more susceptible to adverse developments. In addition, the securities
of small- and mid-capitalization companies may be more volatile and less liquid than those of large-capitalization companies.

SHARES ARE NOT CURRENTLY OFFERED

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Special Purpose Acquisition Companies (SPACs)*.
Investments in SPACs and similar entities are subject to a variety of risks beyond those associated with other equity securities. Because
SPACs and similar entities do not have any operating history or ongoing business other than seeking acquisitions, the value of their securities
is particularly dependent on the ability of the SPAC's management to identify a merger target and complete an acquisition. Until
an acquisition or merger is completed, a SPAC generally invests its assets, less a portion retained to cover expenses, in U.S. government
securities, money market securities and cash and does not typically pay dividends in respect of its common stock. As a result, it is possible
that an investment in a SPAC may lose value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Synthetic Convertible Bond Risk:* Synthetic convertible bonds are
derivative debt securities and are subject to the creditworthiness of the counterparty of the synthetic security. The value of a synthetic
convertible bond may decline substantially if the counterparty's creditworthiness deteriorates. The value of a synthetic convertible
bond may also respond differently to market fluctuations than a convertible bond because a synthetic convertible is composed of two or
more separate securities, each with its own market value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Tax Risk:* The federal income tax treatment of convertible securities
or other securities in which the Fund may invest may not be clear or may be subject to recharacterization by the Internal Revenue Service.
It could be more difficult to comply with the tax requirements applicable to RICs if the tax characterization of investments or the tax
treatment of the income from such investments were successfully challenged by the Internal Revenue Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· *Underlying Funds Risk:* The Fund may invest in the securities of other
investment companies to the extent that such investments are consistent with the Fund's investment objective and the policies are
permissible under the 1940 Act. Under the 1940 Act, the Fund may not acquire the securities of other domestic or non-U.S. investment companies
if, as a result, (1) more than 10% of the Fund's total assets would be invested in securities of other investment companies, (2)
such purchase would result in more than 3% of the total outstanding voting securities of any one Investment company being held by the
Fund or (3) more than 5% of the Fund's total assets would be invested in any one investment company. These limitations do not apply
to the purchase of shares of money market funds or of any investment company in connection with a merger, consolidation, reorganization
or acquisition of substantially all the assets of another investment company, or to purchases of investment companies done in accordance
with SEC exemptive relief or rules. Investments in the securities of other investment companies, including ETFs, may involve duplication
of advisory fees and certain other expenses. Additionally, if the investment company or ETF fails to achieve its investment objective,
the value of the Fund's investment will decline, adversely affecting the Fund's performance. In addition, closed end investment
company and ETF shares potentially may trade at a discount or a premium and are subject to brokerage and other trading costs, which could
result in greater expenses to the Fund.

SHARES ARE NOT CURRENTLY OFFERED

An investment in the Fund is not a complete investment program and you should consider it just one part of your total investment program. You will find a more complete discussion of risk beginning on page 8 of the Fund's Prospectus.

**Performance**

Because the Fund has only recently commenced investment operations, no performance information is presented for the Fund at this time. In the future, performance information will be presented in this section of the Prospectus. Also, shareholder reports containing financial and performance information will be made available to shareholder semi-annually. Updated performance information will be available at no cost by visiting **<u>www.MillerFamilyOfFunds.com</u>** or by calling 1-877-441-4434.

**Investment Advisor**

Wellesley Asset Management, Inc.

**Portfolio Managers**

Greg Miller, Chief Executive Officer of Wellesley; Michael Miller, Chief Investment Officer and President of Wellesley; Howard Needle, Portfolio Manager of Wellesley; and James Buckham, Portfolio Manager of Wellesley, share responsibility for the day-to day management of the Fund. Each Co-Portfolio Manager has served in that capacity since the Fund's inception in 2021.

**Purchase and Sale of Fund Shares**

The minimum initial investment to open an account in Class A and Class C shares is $2,500 for regular accounts and $500 for retirement accounts. The minimum initial investment for Class I shares is $1 million for all account types. The minimum subsequent investment for all classes is $100 for all account types. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange ("NYSE") is open. Purchases and redemptions may be made by mailing an application or redemption request to Miller Convertible Bond Fund c/o Ultimus Fund Solutions, LLC, 4221 North 203<sup>rd</sup> Street, Suite 100, Elkhorn Nebraska 68022-3474, by calling 1-877-441-4434 or by visiting **www.MillerFamilyOfFunds.com**.

SHARES ARE NOT CURRENTLY OFFERED

**Tax Information**

Dividends and capital gain distributions from the Fund, whether reinvested in additional Fund shares or received in cash, are taxable as either ordinary income or capital gains for federal income tax purposes unless you are tax-exempt or investing through a tax-deferred account such as an IRA or 401(k) plan, in which case you may be taxed upon withdrawal of monies from the tax-deferred arrangement.

**Payments to Broker-Dealers and Other Financial Intermediaries**

If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.