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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 03/31/2017

FundCumulativeAnnualizedExpense Ratio
 3 MoYTDSince
Inception1
1 YR3 YR5 YR10 YRSince
Inception1
Gross2Net2
HSSAX Class A
NAV0.84%0.84%531.28%39.72%14.69%20.09%5.68%9.59%1.49%1.49%
MOP-3.95%-3.95%501.22%33.09%12.85%18.93%5.17%9.33%N/AN/A
Benchmark32.47%2.47%388.85%26.22%7.22%12.35%7.12%8.21%N/AN/A
HSSCX Class C
NAV0.67%0.67%385.36%38.83%13.94%19.32%5.00%9.89%2.14%2.14%
CDSC-0.33%-0.33%385.36%37.83%13.94%19.32%5.00%9.89%N/AN/A
Benchmark32.47%2.47%235.46%26.22%7.22%12.35%7.12%7.49%N/AN/A
HSSIX Class Institutional
NAV0.93%0.93%152.05%40.17%15.05%20.48%N/A20.16%1.19%1.19%
Benchmark32.47%2.47%77.59%26.22%7.22%12.35%N/A12.09%N/AN/A
FFBFX Class Investor
NAV0.83%0.83%169.43%39.65%14.66%20.09%N/A15.12%1.54%1.54%
Benchmark32.47%2.47%124.65%26.22%7.22%12.35%N/A12.18%N/AN/A