Westcore Blue Chip Dividend Fund

Value Equity

Style: Large-Cap Core Retail Class: WTMVX Institutional Class: WIMVX

Investment Strategy

The Westcore Blue Chip Dividend Fund invests primarily in large well-established, dividend-paying companies, both in the United States and in developed foreign markets.

We combine our proprietary quantitative screening and independent fundamental research to identify and thoroughly assess the ability of companies to pay and consistently grow their dividends. We build this portfolio of 25 to 30 stocks with an emphasis on achieving a balance between current yield, dividend-growth and capital preservation.

This Fund is available in both the retail and institutional class.

Management Team

We seek to invest in companies that are cash generative, have management teams which have shown an ability and willingness to pay a consistent dividend, and are trading at GREAT prices. – Troy Dayton, CFA

Troy Dayton, CFA

Troy Dayton, CFA

Partner, Co-Director of Value Research, Portfolio Manager

Derek R. Anguilm, CFA

Derek R. Anguilm, CFA

Partner, Co-Director of Value Research, Portfolio Manager, Analyst

Mark M. Adelmann, CFA, CPA

Mark M. Adelmann, CFA, CPA

Partner, Portfolio Manager, Analyst

Lisa Z. Ramirez, CFA

Lisa Z. Ramirez, CFA

Partner, Portfolio Manager, Analyst

Paul A. Kuppinger, CFA

Paul A. Kuppinger, CFA

Vice President, Portfolio Manager, Quantitative Analyst

Alex A. Ruehle, CFA

Alex A. Ruehle, CFA

Vice President, Portfolio Manager, Analyst

Fund Information & Investment Minimums

Retail Class Institutional Class2
Ticker WTMVX WIMVX
CUSIP 957904881 957904527
Inception Date 6/1/1988 9/28/2007
Distribution Frequency Quarterly Quarterly
Minimum to open a new regular account: $2,500 $500,000
Minimum to open a new retirement, education1 or UGMA/UTMA account: $1,000 $500,000
Minimum to open an Automatic Investment Plan Account: $1,000 $500,000
Automatic Investments: $25/month per Fund -
Minimum to add to any type of account: $25 -
Retail Class
Ticker WTMVX
CUSIP 957904881
Inception Date 6/1/1988
Minimum to open a new regular account: $2,500
Minimum to open a new retirement, education1 or UGMA/UTMA account: $1,000
Minimum to open an Automatic Investment Plan Account: $1,000
Automatic Investments: $25/month per Fund
Minimum to add to any type of account: $25
Institutional Class2
Ticker WIMVX
CUSIP 957904527
Inception Date 9/28/2007
To open a new regular account: $500,000
To open a new retirement, education1 or UGMA/UTMA account: $500,000
To open an Automatic Investment Plan Account: $500,000
Formerly the Westcore Blue Chip Fund.
Investments in foreign companies are subject to special risks, including currency fluctuations, social, economic, and political uncertainties, which could increase volatility.
Dividends are not guaranteed. A company’s future abilities to pay dividends may be limited and a company may cease paying dividends at any time.

The risk profile spectrum provides an approximate illustration of the relative volatility of the Westcore Family of Funds determined by using each fund’s 5-year annualized standard deviation as of 6/30/15. If the fund’s retail class has less than five years of operations as of that date, the standard deviation of the fund’s Morningstar category is used instead. Standard deviation is a statistical measure of the historical volatility of a fund, which we believe can assist in classifying a fund within a risk spectrum. The placement on the risk spectrum (Low to High) is based on the comparison of each Fund’s standard deviation measure, as described above, in relation to the universe of funds with a 5-year standard deviation measure as obtained from a third-party fund database. We believe those measures are accurate but have not independently verified them. Please refer to the prospectus for each fund’s specific risks. Also a fund’s measure of volatility is subject to change without notice as market or economic conditions change, and such changes may include significant and nonrecurring volatility events. Historical volatility is not necessarily indicative of future volatility and there is no guarantee that in any time period any one fund will be more or less volatile than any other fund.

CFA is a trademark owned by CFA Institute.
Lisa Z. Ramirez, CFA is a registered representative of ALPS Distributors, Inc.
Please see the prospectus for more detailed information regarding investment minimums. The Funds reserve the right to change the amount of these minimums from time to time or to waive them in whole or in part, including the right to waive the Institutional Class minimums, if in the Advisor’s sole opinion, the investor has adequate intent and availability of assets to reach a future level of investment in the Fund that is equal to or greater than the minimum.
1 A description of the retirement and education accounts available for investment in the Westcore Funds may be found in the SAI for the Funds. Please call 800.392.CORE (2673) to request a free copy of the SAI or click here to download.
2 The minimum investment in the Institutional Class shares is $500,000. Investors generally may meet the minimum investment amount by aggregating multiple accounts with common ownership within the Fund. Common ownership includes individual and joint accounts as well as accounts where an investor has beneficial ownership through acting as a custodian for a minor account or as a beneficiary to a trust account. In addition, Institutional Class accounts offered through a financial intermediary may meet the $500,000 minimum investment amount by aggregating multiple accounts within the Fund, however each separate account must meet a minimum investment requirement of $10,000. Exceptions to the Institutional Class minimums may apply for qualified requirement plans and other account types with lower or no networking and/or omnibus fees charged to the Funds.

Investment Team

Troy Dayton, CFA
Troy Dayton, CFA

Partner, Co-Director of Value Research, Portfolio Manager

2002 to Present: Denver Investments
2001 to 2002: Jurika and Voyles, Equity Research Analyst
1998 to 2001: Dresdner RCM Global Investors, Equity Research Associate
1996 to 1998: Jurika and Voyles, Equity Research Associate
1996: Citibank, Trading Support Officer
Education:

BSBA – Colorado State University
Member of CFA Institute and CFA Society Colorado

Derek R. Anguilm, CFA
Derek R. Anguilm, CFA

Partner, Co-Director of Value Research, Portfolio Manager, Analyst

2000 to Present: Denver Investments
1999: Everen Securities, Research Assistant
Education:

BS – Metropolitan State College of Denver
Member of CFA Institute and CFA Society Colorado

Mark M. Adelmann, CFA, CPA
Mark M. Adelmann, CFA, CPA

Partner, Portfolio Manager, Analyst

1995 to Present: Denver Investments
1979 to 1995: Deloitte & Touche, Senior Manager
Education:

BS – Oral Roberts University
Member of CFA Institute and CFA Society Colorado
Member of the American Institute of CPAs and the Colorado Society of CPAs

Lisa Z. Ramirez, CFA
Lisa Z. Ramirez, CFA

Partner, Portfolio Manager, Analyst

1989 to Present: Denver Investments
Education:

BS – University of Colorado; MBA – Regis University
Member of CFA Institute and CFA Society Colorado

Paul A. Kuppinger, CFA
Paul A. Kuppinger, CFA

Vice President, Portfolio Manager, Quantitative Analyst

2006 to Present: Denver Investments
2003 to 2006: Rocky Mountain Wealth Advisors, Principal
2002 to 2003: Curian Capital, Vice President of Research
1998 to 2002: Prima Capital, Director of Research
1997 to 1998: KPMG, Research Analyst
1993 to 1995: Westcap Investors, Trader
1990 to 1993: Wilshire Associates, Supervisor of Performance Measurement
Education:

BA – The Colorado College; MBA – University of Colorado
Member of CFA Institute and CFA Society Colorado

Alex A. Ruehle, CFA
Alex A. Ruehle, CFA

Vice President, Portfolio Manager, Analyst

2008 to Present: Denver Investments
2006 to 2007: First Western Financial Services, Inc., Intern
Education:

BS and MBA – University of Denver
Member of CFA Institute and CFA Society Colorado

Jennifer B. Oldland
Jennifer B. Oldland

Vice President, Analyst

2006 to Present: Denver Investments
Education:

BS – Colorado State University

Guangyan (Yan) Qin, CFA
Guangyan (Yan) Qin, CFA

Vice President, Analyst

2008 to Present: Denver Investments
2007: Investment Protection Services, Wealth Management Intern
2007: First Data Corporation, Treasury Analyst Intern
2005: China Construction Bank, Intern
Education:

BS – University of International Business and Economics, Beijing, China; MS – University of Denver
Member of CFA Institute and CFA Society Colorado

Robbie Steiner, CFA
Robbie Steiner, CFA

Vice President, Analyst

2014 to Present: Denver Investments
2012 to 2013: BMO Capital Markets, Investment Banking Associate
2008 to 2010: Transamerica Investments, Mutual Fund Wholesaler
Education:

BBA – University of Georgia, MBA – Emory University
Member of CFA Institute and CFA Society Colorado

Dean A. Graves, CFA
Dean A. Graves, CFA

Partner, Client Portfolio Manager

1994 to Present: Denver Investments
1984 to 1994: DeMarche Associates, Senior Vice President
1979 to 1984: Charter Corporation, Vice President, Portfolio Manager
1976 to 1979: Johnson County National Bank, Assistant Vice President, Portfolio Manager
Education:

BS – University of Kansas; MBA – University of Missouri-Kansas City
Member of CFA Institute and CFA Society Colorado

Georgene L.A. Pedrie
Georgene L.A. Pedrie

Vice President, Equity Trader

2002 to Present: Denver Investments
1987 to 2002: NDB Capital Market, Sales Trader
Education:

BA and MA – University of Northern Colorado

Jason Russell
Jason Russell

Vice President, Equity Trader

2013 to Present: Denver Investments
2004 to 2012: Allianz Global Investors Capital, Senior VP, Global Equity Trader
2001 to 2004: Employees Retirement System of Texas, International Trader
2000 to 2001: ProTrader Securities Corp., Trader
1999: Chase Manhattan Bank, Consultant
1996 to 1998: Croesus Capital Management Corp., Trader
1994 to 1996: Chemical Bank, Associate
1993 to 1994: Price Waterhouse Coopers LLP, Tax Associate
Education:

BA – University of Texas

CFA is a trademark owned by CFA Institute.
Dean A. Graves, CFA, Georgene L.A. Pedrie, Lisa Z. Ramirez, CFA and Jon K. Tesseo are registered representatives of ALPS Distributors, Inc.

The risk profile spectrum provides an approximate illustration of the relative volatility of the Westcore Family of Funds determined by using each fund’s 5-year annualized standard deviation as of 6/30/15. If the fund’s retail class has less than five years of operations as of that date, the standard deviation of the fund’s Morningstar category is used instead. Standard deviation is a statistical measure of the historical volatility of a fund, which we believe can assist in classifying a fund within a risk spectrum. The placement on the risk spectrum (Low to High) is based on the comparison of each Fund’s standard deviation measure, as described above, in relation to the universe of funds with a 5-year standard deviation measure as obtained from a third-party fund database. We believe those measures are accurate but have not independently verified them. Please refer to the prospectus for each fund’s specific risks. Also a fund’s measure of volatility is subject to change without notice as market or economic conditions change, and such changes may include significant and nonrecurring volatility events. Historical volatility is not necessarily indicative of future volatility and there is no guarantee that in any time period any one fund will be more or less volatile than any other fund.

View Performance as of:
Month-End   Quarter-End
  Monthly Returns (%)
Periods Ended: 7/31/2015
Annualized Returns (%)
Periods Ended: 7/31/2015
1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years Since Inception
Westcore Blue Chip Dividend Fund 2.45 -0.88 0.50 3.41 10.62 11.39 4.93 8.53
Westcore Blue Chip Dividend Fund Institutional 2.46 -0.87 0.56 3.60 10.82 11.56 5.07 8.58
S&P 500® Index 2.10 1.41 3.35 11.21 17.58 16.24 7.72 10.38
  Monthly Returns (%)
Periods Ended: 6/30/2015
Annualized Returns (%)
Periods Ended: 6/30/2015
1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years Since Inception
Westcore Blue Chip Dividend Fund -3.52 -0.24 -1.90 -2.79 10.67 12.05 4.97 8.46
Westcore Blue Chip Dividend Fund Institutional -3.43 -0.23 -1.86 -2.64 10.91 12.21 5.11 8.51
S&P 500® Index -1.94 0.28 1.24 7.43 17.31 17.34 7.89 9.62
Westcore Blue Chip Dividend Fund
Monthly Returns(%) as of 7/31/2015
1 Month 2.45
3 Months -0.88
YTD 0.50
Annualized Returns(%) as of 7/31/2015
1 Year 3.41
3 Years 10.62
5 Years 11.39
10 Years 4.93
Since Inception 8.53
Westcore Blue Chip Dividend Fund Institutional
Monthly Returns(%) as of 7/31/2015
1 Month 2.46
3 Months -0.87
YTD 0.56
Annualized Returns(%) as of 7/31/2015
1 Year 3.60
3 Years 10.82
5 Years 11.56
10 Years 5.07
Since Inception 8.58
S&P 500® Index
Monthly Returns(%) as of7/31/2015
1 Month 2.10
3 Months 1.41
YTD 3.35
Annualized Returns(%) as of 7/31/2015
1 Year 11.21
3 Years 17.58
5 Years 16.24
10 Years 7.72
Since Inception 10.38
Westcore Blue Chip Dividend Fund
Monthly Returns(%) as of 6/30/2015
1 Month -3.52
3 Months -0.24
YTD -1.90
Annualized Returns(%) as of6/30/2015
1 Year -2.79
3 Years 10.67
5 Years 12.05
10 Years 4.97
Since Inception 8.46
Westcore Blue Chip Dividend Fund Institutional
Monthly Returns(%) as of 6/30/2015
1 Month -3.43
3 Months -0.23
YTD -1.86
Annualized Returns(%) as of 6/30/2015
1 Year -2.64
3 Years 10.91
5 Years 12.21
10 Years 5.11
Since Inception 8.51
S&P 500® Index
Monthly Returns(%) as of 6/30/2015
1 Month -1.94
3 Months 0.28
YTD 1.24
Annualized Returns(%) as of 6/30/2015
1 Year 7.43
3 Years 17.31
5 Years 17.34
10 Years 7.89
Since Inception 9.62
Retail Class Annual Expense Ratio -- Gross: 1.14%, Net: 0.99%
Institutional Class Annual Expense Ratio -- Gross: 1.01%, Net: 0.82%

Calendar Year Returns (%)

2014 2013 2012 2011 2010 2009 2008 2007 2006 2005
Westcore Blue Chip Dividend Fund 4.43 24.53 13.39 5.19 3.99 29.87 -36.24 3.13 12.19 7.76
Westcore Blue Chip Dividend Fund Institutional 4.66 24.83 13.56 5.34 4.05 30.10 -36.09 3.19 12.19 7.76
S&P 500® Index 13.69 32.39 16.00 2.11 15.06 26.47 -37.00 5.49 15.80 4.92
Westcore Blue Chip Dividend Fund
Westcore Blue Chip Dividend Fund Institutional
S&P 500® Index
Formerly the Westcore Blue Chip Fund.
Investments in foreign companies are subject to special risks, including currency fluctuations, social, economic, and political uncertainties, which could increase volatility.
Dividends are not guaranteed. A company’s future abilities to pay dividends may be limited and a company may cease paying dividends at any time.
Performance data quoted represents past performance and does not guarantee future results. Performance information for the institutional class shares prior to their inception is based on the performance of the retail class. Current performance may be lower or higher than the performance quoted. To obtain current performance as of the most recent month-end, please call 800.392.CORE(2673). Average annual total returns reflect the reinvestment of dividends, capital gains distributions, all fee waivers and expense reimbursements.  If imposed, the fee would reduce the performance quoted. Investment return and principal value will vary, and shares, when redeemed, may be worth more or less than their original cost. Westcore fund shares are not insured by the FDIC, the Federal Reserve Board or any other agency and are subject to investment risk.
Denver Investments (the “Adviser”) has contractually agreed to waive certain investment advisory and/or administration fees and/or to reimburse other expenses from April 30, 2015 until at least April 30, 2016. The first waiver/reimbursement applies so that the ratio of expenses to average net assets, as reported in the Fund’s financial statements, will be no more than a fixed percentage for the Fund’s Retail Class for such period. Please see the Fund’s Prospectus for more information. The second waiver/reimbursement applies so that Fund level Other Expenses (as defined in the Fund’s financial statements) for the Institutional Class will be in the same proportion as the Retail Class waivers/reimbursements. The third waiver/reimbursement applies so that the institutional class-specific Other Expenses are reimbursed. The Adviser has contractually agreed to waive/reimburse all of these class-specific Other Expenses, but only to the extent that the difference between the net Institutional Class and net Retail Class expense ratios, after applying the waiver/reimbursement, does not exceed 25 basis points. These agreements may not be terminated or modified prior to this date without the approval of the Board of Trustees.
All indices are unmanaged and investors cannot invest directly in an index. View index descriptions.
Standard & Poor’s is the source and owner of the S&P Index data. See Terms of Use for additional disclosure.

The risk profile spectrum provides an approximate illustration of the relative volatility of the Westcore Family of Funds determined by using each fund’s 5-year annualized standard deviation as of 6/30/15. If the fund’s retail class has less than five years of operations as of that date, the standard deviation of the fund’s Morningstar category is used instead. Standard deviation is a statistical measure of the historical volatility of a fund, which we believe can assist in classifying a fund within a risk spectrum. The placement on the risk spectrum (Low to High) is based on the comparison of each Fund’s standard deviation measure, as described above, in relation to the universe of funds with a 5-year standard deviation measure as obtained from a third-party fund database. We believe those measures are accurate but have not independently verified them. Please refer to the prospectus for each fund’s specific risks. Also a fund’s measure of volatility is subject to change without notice as market or economic conditions change, and such changes may include significant and nonrecurring volatility events. Historical volatility is not necessarily indicative of future volatility and there is no guarantee that in any time period any one fund will be more or less volatile than any other fund.

Manager Commentary as of 6/30/2015

Equity returns were generally unimpressive in the second quarter, and market volatility was elevated due to conflicting trends in global economies, as well as the chaos associated with Greece’s freefall into debt default. Non-dividend paying, higher volatility stocks led the market in the quarter. This proved difficult to overcome and the Westcore Blue Chip Dividend Fund’s -0.24% return underperformed its benchmark, the S&P 500® Index, which returned 0.28%. The U.S. economy remained the global bright spot as it continued to grind ahead. U.S. consumer spending rebounded from a tepid first quarter as job creation was solid, housing prices rose and wage gains appeared to be gathering momentum. In fact, economic improvements remain a cause of recent volatility, as they lead to the much-awaited increase in short-term borrowing rates by the Federal Reserve. Conversely, global conditions appear much less stable. As China’s economy is sputtering, with “bubble” concerns in its real estate and stock markets, Europe’s economic improvement is at risk due to its trade sanctions on Russia and the possibility of Greece’s exit from the European Union; both Russia and Greece remain in severe recession, and several South American countries, led by Brazil, continue to experience stagflation and political unrest.

The sectors that provided the Fund’s best returns relative to the benchmark this quarter were information technology, telecommunication services and materials. Sage Group plc, a global enterprise software company, was the Fund’s top performer for the quarter. The company outperformed its peers, having reported strong revenue from recurring subscriptions, which illustrated success in improving revenue quality through its transition from a license to a subscription model. Sage is broadening the user base of its flagship accounting program, previously targeted only to midsized businesses in Europe. While the company showed solid growth in its core European and U.S. markets, it exhibited stronger growth in its emerging Australian, Asian and African markets. Pharmaceutical manufacturer Abbvie, Inc. was another standout contributor in the quarter. Shares of this health care sector holding were propelled higher during the quarter by several favorable developments, including European patent extension for its largest product, positive clinical data for a developmental rheumatoid arthritis product and a promising enhancement to its oncology platform with the acquisition of Pharmacyclics, Inc. This acquisition should help to further diversify the company’s revenue stream. We believe that the stock represents one of the best valuations, coupled with one of the better drug pipelines in the pharmaceutical space, and we foresee solid profit margin and free cash improvement.

The Fund’s worst-performing sectors relative to its benchmark were financials, utilities and industrials. Raytheon Co., a defense contractor, underperformed in the quarter after announcing the acquisition of Websense, Inc., a cybersecurity company focused mainly on commercial markets, and subsequently announcing that Germany did not choose its Patriot Missile System over Lockheed Martin’s system. A shift in focus toward its cybersecurity business, along with concerns that Raytheon is losing share in missile defense systems, weighed on the stock in the quarter. We believe the market is overreacting to these two pieces of news and that Raytheon is set up to benefit from a new cycle of defense spending and continued growth in cybersecurity spending. Edison International, a public utility holding company, underperformed during the quarter. Utilities were generally pressured as fear of rising interest rates led investors to reduce positions in higher-yielding sectors like utilities. Edison performed somewhat worse than its peers due to a proposal by a consumer advocacy group to throw out the already-approved settlement on the San Onofre Nuclear plant investigation. Interestingly, while the consumer advocacy group agreed that the original outcome was favorable for ratepayers, it would have preferred a more open and formal litigation as opposed to the negotiated one that occurred. We have already factored the large settlement into our value of the company, and don’t believe that reopening the case will lead to a worse outcome or a different assessment of the company’s intrinsic value. It could, however, take longer to come to a similar conclusion and cause more volatility in the stock price. Should that occur, we would consider adding to our position on any price weakness.

As we look to the second half of 2015, we expect volatility to remain elevated. The Federal Reserve continues to keep investors guessing as to when it will increase short-term rates. Additionally, we believe the divergence of global economic growth will keep investor angst at high levels. However, it is difficult to envision an end to domestic economic improvement and positive market returns with the consumer gaining confidence, housing activity strengthening and interest rates remaining at abnormally low levels. We believe well thought out stock selection will be even more important for the balance of the year as, broadly speaking, valuations appear high. In this environment, finding stocks for the Fund that have unique catalysts that can propel prices to reach our valuation estimates, and purchasing those stocks at undervalued prices, is essential. It has been a disappointing year thus far, and we thank all of our shareholders for their patience and confidence.

Stock Performance (3 months ended 6/30/2015)
Top 5 Stocks Average Weight Contribution to Return
The Sage Group PLC 3.42% 0.55%
AbbVie Inc 3.43 0.49
Mattel Inc 3.36 0.41
Microsoft Corp 3.28 0.30
BT Group PLC 3.35 0.28
Bottom 5 Stocks Average Weight Contribution to Return
Canadian Utilities Ltd 2.37% -0.26%
QUALCOMM Inc 3.19 -0.30
Edison International 3.17 -0.33
Raytheon Co 3.26 -0.39
Wal-Mart Stores Inc 3.10 -0.43
Top 5 Stocks
The Sage Group PLC
Average Weight 3.42%
Contribution to Return 0.55%
AbbVie Inc
Average Weight 3.43
Contribution to Return 0.49
Mattel Inc
Average Weight 3.36
Contribution to Return 0.41
Microsoft Corp
Average Weight 3.28
Contribution to Return 0.30
BT Group PLC
Average Weight 3.35
Contribution to Return 0.28
Bottom 5 Stocks
Canadian Utilities Ltd
Average Weight 2.37%
Contribution to Return -0.26%
QUALCOMM Inc
Average Weight 3.19
Contribution to Return -0.30
Edison International
Average Weight 3.17
Contribution to Return -0.33
Raytheon Co
Average Weight 3.26
Contribution to Return -0.39
Wal-Mart Stores Inc
Average Weight 3.10
Contribution to Return -0.43

 

Formerly the Westcore Blue Chip Fund.
Dividends are not guaranteed. A company’s future abilities to pay dividends may be limited and a company may cease paying dividends at any time.
Investments in foreign companies are subject to special risks, including currency fluctuations, social, economic, and political uncertainties, which could increase volatility.
The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will vary, and shares, when redeemed, may be worth more or less than their original cost. To obtain current performance as of the most recent month-end, please call 800.392.CORE (2673) or visit the Performance tab.
The Top 5 and Bottom 5 performing stocks do not represent all of the securities purchased, sold or recommended by the Funds’ Adviser. The methodology used to construct this chart took into account the weighting of every holding in the Fund that contributed to the Fund’s performance during the measurement period. The contribution of each Fund holding was consistently determined by calculating the weight of each holding multiplied by the rate of return for that holding during the measurement period. To request a complete list of the contribution of each Fund holding to overall Fund performance, please call 800-392-CORE (2673) or visit the Performance tab.
The Manager Commentaries contain certain forward-looking statements about the factors that may affect the performance of the Funds in the future. These statements are based on Fund management’s predictions and expectations concerning certain future events and their expected impact on the Funds, such as performance of the economy as a whole and of specific industry sectors, changes in the levels of interest rates, the impact of developing world events, and other factors that may influence the future performance of the Funds. Management believes these forward-looking statements to be reasonable, although they are inherently uncertain and difficult to predict. Actual events may cause adjustments in portfolio management strategies from those currently expected to be employed.
All indices are unmanaged and investors cannot invest directly in an index. View index descriptions.

The risk profile spectrum provides an approximate illustration of the relative volatility of the Westcore Family of Funds determined by using each fund’s 5-year annualized standard deviation as of 6/30/15. If the fund’s retail class has less than five years of operations as of that date, the standard deviation of the fund’s Morningstar category is used instead. Standard deviation is a statistical measure of the historical volatility of a fund, which we believe can assist in classifying a fund within a risk spectrum. The placement on the risk spectrum (Low to High) is based on the comparison of each Fund’s standard deviation measure, as described above, in relation to the universe of funds with a 5-year standard deviation measure as obtained from a third-party fund database. We believe those measures are accurate but have not independently verified them. Please refer to the prospectus for each fund’s specific risks. Also a fund’s measure of volatility is subject to change without notice as market or economic conditions change, and such changes may include significant and nonrecurring volatility events. Historical volatility is not necessarily indicative of future volatility and there is no guarantee that in any time period any one fund will be more or less volatile than any other fund.

Distributions

The Westcore Blue Chip Dividend Fund pays income distributions quarterly and capital gains distributions at least annually, generally in December.

To view the Fund’s most recent distributions click here.

To view historical distribution information for all of the Westcore Funds click here.

 

Past performance does not guarantee future results.
A fund’s income from dividends and interest and any net realized short-term capital gains are paid to shareholders as income dividends. A fund realizes capital gains whenever it sells securities for a higher price than it paid for them. Net realized long-term gains are paid to shareholders as capital gain dividends. A dividend will reduce the net asset value of a fund share by the amount of the dividend on the ex-dividend date. View the prospectus for more information.

The risk profile spectrum provides an approximate illustration of the relative volatility of the Westcore Family of Funds determined by using each fund’s 5-year annualized standard deviation as of 6/30/15. If the fund’s retail class has less than five years of operations as of that date, the standard deviation of the fund’s Morningstar category is used instead. Standard deviation is a statistical measure of the historical volatility of a fund, which we believe can assist in classifying a fund within a risk spectrum. The placement on the risk spectrum (Low to High) is based on the comparison of each Fund’s standard deviation measure, as described above, in relation to the universe of funds with a 5-year standard deviation measure as obtained from a third-party fund database. We believe those measures are accurate but have not independently verified them. Please refer to the prospectus for each fund’s specific risks. Also a fund’s measure of volatility is subject to change without notice as market or economic conditions change, and such changes may include significant and nonrecurring volatility events. Historical volatility is not necessarily indicative of future volatility and there is no guarantee that in any time period any one fund will be more or less volatile than any other fund.

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