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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 09/30/2017

FundCumulativeAnnualizedExpense Ratio
 1 MoYTDSince
Inception1
1 YR3 YR5 YR10 YRSince
Inception1
Gross2Net2
HSSAX Class A
NAV6.82%7.70%574.18%37.41%19.57%19.81%7.29%9.70%1.49%1.49%
MOP1.76%2.57%542.07%30.88%17.64%18.65%6.78%9.44%N/AN/A
Benchmark36.24%10.94%429.28%20.74%12.18%13.79%7.85%8.42%N/AN/A
HSSCX Class C
NAV6.75%7.15%416.58%36.48%18.79%19.03%6.61%9.99%2.14%2.14%
CDSC5.75%6.15%416.58%35.48%18.79%19.03%6.61%9.99%N/AN/A
Benchmark36.24%10.94%263.21%20.74%12.18%13.79%7.85%7.76%N/AN/A
HSSIX Class Institutional
NAV6.85%7.94%169.55%37.80%19.93%20.20%N/A19.62%1.19%1.19%
Benchmark36.24%10.94%92.28%20.74%12.18%13.79%N/A12.54%N/AN/A
FFBFX Class Investor
NAV6.80%7.71%187.81%37.38%19.56%19.80%N/A15.05%1.54%1.54%
Benchmark36.24%10.94%143.23%20.74%12.18%13.79%N/A12.51%N/AN/A