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NOTICE TO SHAREHOLDERS AND BROKER-DEALERS:

The Emerald Mutual Funds are making NO year-end capital gains or income dividend payments for calendar year 2016.

Emerald Banking & Finance Fund

Performance Data as of 06/30/2017

FundCumulativeAnnualizedExpense Ratio
 3 MoYTDSince
Inception1
1 YR3 YR5 YR10 YRSince
Inception1
Gross2Net2
HSSAX Class A
NAV1.29%2.15%539.43%39.70%15.94%20.09%6.01%9.54%1.49%1.49%
MOP-3.51%-2.71%508.98%33.07%14.08%18.92%5.50%9.28%N/AN/A
Benchmark32.46%4.99%400.89%24.60%7.36%13.70%6.92%8.23%N/AN/A
HSSCX Class C
NAV1.12%1.80%390.80%38.79%15.19%19.30%5.33%9.81%2.14%2.14%
CDSC0.12%0.80%390.80%37.79%15.19%19.30%5.33%9.81%N/AN/A
Benchmark32.46%4.99%243.72%24.60%7.36%13.70%6.92%7.53%N/AN/A
HSSIX Class Institutional
NAV1.39%2.33%155.55%40.17%16.32%20.47%N/A19.44%1.19%1.19%
Benchmark32.46%4.99%81.96%24.60%7.36%13.70%N/A12.00%N/AN/A
FFBFX Class Investor
NAV1.35%2.19%173.06%39.73%15.94%20.08%N/A14.77%1.54%1.54%
Benchmark32.46%4.99%130.19%24.60%7.36%13.70%N/A12.12%N/AN/A