A material amount of the early fund performance was attributed to IPOs that were held in the fund while the fund held fewer assets. There can be no assurance that IPOs will have the same positive impact on fund performance in the future. The Enterprise Internet Fund is a sector fund that focuses on equities in a specific industry and therefore concentrates its investments in fewer stocks within the industry than a typical fund would. This strategy may result in more volatility than the typical growth stock fund because while individual company stock risk is reduced through diversification, industry risk can be magnified. In addition, some Internet-related stocks have shown extreme volatility, trading in a broad range of share prices daily.
Past performance is no guarantee of future results.
The investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Class C shares are sold at net asset value per share without an initial sales charge. Adviser voluntarily waives a portion of the fund's expenses, but reserves the right to change the level of waiver. Without such waivers, yields and total returns would be lower. Performance is cumulative but not annualized.