For a master fund with multiple feeder funds, unrealized capital gains that are embedded in portfolio securities and attributable to time periods prior to a new feeder fund's inception are allocated solely to older feeder funds. The master-feeder structure allows investors in a new feeder fund to buy into a historically successful investment portfolio without taking on potential liability for capital gains taxes on past portfolio appreciation. Both TMG 1.1 and TMEG 1.1 will remain open for additional investment by current shareholders. By removing the embedded gains concern of new investors, we've positioned the underlying Portfolios for faster growth, assisting in their tax-efficient investment management. Mutual fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution.
Shares are subject to investment risks, including possible loss of principal invested.