FMI Large Cap Fund

The FMI Large Cap Fund seeks long-term capital appreciation through the purchase of a limited number of large capitalization value stocks. The Fund extends the core philosophy of the management company (Fiduciary Management, Inc.), buying good businesses at value prices, beyond the small to mid-capitalization range. Some of the characteristics of good businesses may include strong recurring revenue and attractive returns-on-investment capital. A strong orientation to low absolute or relative valuation is key to the execution of the investment strategy. As a non-diversified fund, the FMI Large Cap Fund tends to concentrate its investment on fewer companies than a diversified mutual fund. The Fund holds approximately 20-30 stocks, with most major industry groups represented.

Please refer to the Prospectus for a more detailed explanation of the FMI Large Cap Fund, the management, and an Application.