Westcore Global Large-Cap Dividend Fund

Value Equity

Style: World Stock Retail Class: WTMVX Institutional Class: WIMVX

Investment Strategy

The Westcore Global Large-Cap 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 build this portfolio with the goal of helping investors preserve their capital while also growing income over time. – Alex A. Ruehle, CFA

Derek R. Anguilm, CFA

Derek R. Anguilm, CFA

Partner, Co-Director of Value Research, Portfolio Manager

Troy Dayton, CFA

Troy Dayton, CFA

Partner, Co-Director of Value Research, Portfolio Manager

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

Partner, 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 $250,000
Minimum to open a new retirement, education1 or UGMA/UTMA account: $1,000 $250,000
Minimum to open an Automatic Investment Plan Account: $1,000 $250,000
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: $250,000
To open a new retirement, education1 or UGMA/UTMA account: $250,000
To open an Automatic Investment Plan Account: $250,000
Formerly the Westcore Blue Chip Dividend 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 12/31/16. 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 $250,000. 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 $250,000 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

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

Partner, Co-Director of Value Research, Portfolio Manager

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

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

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

Partner, 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 A. Steiner, CFA
Robbie A. 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

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

Vice President, Senior Equity Trader

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

BA and MA – University of Northern Colorado

Tara Stacy
Tara Stacy

Equity Trader

2009 to Present: Denver Investments
1999 to 2009: LGC Management, Accountant
Education:

BA – University of Colorado Denver; CFA Institute Claritas certificate

Formerly the Westcore Blue Chip Dividend Fund.
CFA is a trademark owned by CFA Institute.
Georgene L.A. Pedrie and Lisa Z. Ramirez, CFA 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 12/31/16. 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: 2/28/2017
Annualized Returns (%)
Periods Ended: 2/28/2017
1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years Since Inception
Westcore Global Large-Cap Dividend Fund 2.42 6.10 3.58 14.27 4.92 9.08 4.47 8.44
Westcore Global Large-Cap Dividend Fund Institutional 2.44 6.19 3.71 14.49 5.11 9.28 4.64 8.50
Russell Developed Large‑Cap Index 2.78 7.76 5.26 21.37 5.24 9.64 4.52
S&P 500® Index 3.97 8.04 5.94 24.98 10.63 14.01 7.62 10.36
  Monthly Returns (%)
Periods Ended: 12/31/2016
Annualized Returns (%)
Periods Ended: 12/31/2016
1 Month 3 Months YTD 1 Year 3 Years 5 Years 10 Years Since Inception
Westcore Global Large-Cap Dividend Fund 2.43 -0.20 8.58 8.58 4.08 9.75 4.05 8.36
Westcore Global Large-Cap Dividend Fund Institutional 2.39 -0.25 8.63 8.63 4.22 9.92 4.20 8.42
Russell Developed Large‑Cap Index 2.37 1.94 7.70 7.70 3.93 10.68 4.06
S&P 500® Index 1.98 3.82 11.96 11.96 8.87 14.66 6.95 10.20
Westcore Global Large-Cap Dividend Fund
Monthly Returns(%) as of 2/28/2017
1 Month 2.42
3 Months 6.10
YTD 3.58
Annualized Returns(%) as of 2/28/2017
1 Year 14.27
3 Years 4.92
5 Years 9.08
10 Years 4.47
Since Inception 8.44
Westcore Global Large-Cap Dividend Fund Institutional
Monthly Returns(%) as of 2/28/2017
1 Month 2.44
3 Months 6.19
YTD 3.71
Annualized Returns(%) as of 2/28/2017
1 Year 14.49
3 Years 5.11
5 Years 9.28
10 Years 4.64
Since Inception 8.50
Russell Developed Large‑Cap Index
Monthly Returns(%) as of2/28/2017
1 Month 2.78
3 Months 7.76
YTD 5.26
Annualized Returns(%) as of 2/28/2017
1 Year 21.37
3 Years 5.24
5 Years 9.64
10 Years 4.52
Since Inception
S&P 500® Index
Monthly Returns(%) as of2/28/2017
1 Month 3.97
3 Months 8.04
YTD 5.94
Annualized Returns(%) as of 2/28/2017
1 Year 24.98
3 Years 10.63
5 Years 14.01
10 Years 7.62
Since Inception 10.36
Westcore Global Large-Cap Dividend Fund
Monthly Returns(%) as of 12/31/2016
1 Month 2.43
3 Months -0.20
YTD 8.58
Annualized Returns(%) as of12/31/2016
1 Year 8.58
3 Years 4.08
5 Years 9.75
10 Years 4.05
Since Inception 8.36
Westcore Global Large-Cap Dividend Fund Institutional
Monthly Returns(%) as of 12/31/2016
1 Month 2.39
3 Months -0.25
YTD 8.63
Annualized Returns(%) as of 12/31/2016
1 Year 8.63
3 Years 4.22
5 Years 9.92
10 Years 4.20
Since Inception 8.42
Russell Developed Large‑Cap Index
Monthly Returns(%) as of 12/31/2016
1 Month 2.37
3 Months 1.94
YTD 7.70
Annualized Returns(%) as of 12/31/2016
1 Year 7.70
3 Years 3.93
5 Years 10.68
10 Years 4.06
Since Inception
S&P 500® Index
Monthly Returns(%) as of 12/31/2016
1 Month 1.98
3 Months 3.82
YTD 11.96
Annualized Returns(%) as of 12/31/2016
1 Year 11.96
3 Years 8.87
5 Years 14.66
10 Years 6.95
Since Inception 10.20
Retail Class Annual Expense Ratio -- Gross: 1.18%, Net: 1.00%
Institutional Class Annual Expense Ratio -- Gross: 1.06%, Net: 0.83%

Calendar Year Returns (%)

2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
Westcore Global Large-Cap Dividend Fund 8.58 -0.56 4.43 24.53 13.39 5.19 3.99 29.87 -36.24 3.13
Westcore Global Large-Cap Dividend Fund Institutional 8.63 -0.42 4.66 24.83 13.56 5.34 4.05 30.10 -36.09 3.19
Russell Developed Large‑Cap Index 7.70 -0.87 5.16 27.38 16.16 -5.69 12.43 31.51 -41.19 9.23
S&P 500® Index 11.96 1.38 13.69 32.39 16.00 2.11 15.06 26.47 -37.00 5.49
Westcore Global Large-Cap Dividend Fund
2016 8.58
2015 -0.56
2014 4.43
2013 24.53
2012 13.39
2011 5.19
2010 3.99
2009 29.87
2008 -36.24
2007 3.13
Westcore Global Large-Cap Dividend Fund Institutional
2016 8.63
2015 -0.42
2014 4.66
2013 24.83
2012 13.56
2011 5.34
2010 4.05
2009 30.10
2008 -36.09
2007 3.19
Russell Developed Large‑Cap Index
2016 7.70
2015 -0.87
2014 5.16
2013 27.38
2012 16.16
2011 -5.69
2010 12.43
2009 31.51
2008 -41.19
2007 9.23
S&P 500® Index
2016 11.96
2015 1.38
2014 13.69
2013 32.39
2012 16.00
2011 2.11
2010 15.06
2009 26.47
2008 -37.00
2007 5.49
Formerly the Westcore Blue Chip Dividend Fund.
Effective June 30, 2015, the Westcore Board of Trustees approved a benchmark change for the Westcore Global Large-Cap Dividend Fund from the S&P 500® Index to the Russell Developed Large-Cap Index. The new benchmark index reflects the global investment objective of the Fund. We will continue to present the S&P 500® Index for historical comparison purposes to the extent required.
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, 2016 until at least April 30, 2017. 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 April 30, 2017 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 12/31/16. 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 12/31/2016

 

Market Overview

In the fourth quarter, we witnessed a divergence of markets, particularly after the surprising results of the U.S. presidential election and the Republican’s sweep of the House and Senate. Following the election, the U.S. dollar strengthened and U.S. markets moved higher in response to the anticipated pro-business policies of the new administration. Simultaneously, international equity markets struggled as investors became concerned that the protectionist policies of the new administration, coupled with the impact of a strong U.S. dollar on international economies, both developed and emerging, would result in slower economic growth abroad.

Fund Performance

For the quarter, the Westcore Global Large-Cap Dividend Fund returned -0.20%, underperforming the 1.94% return of its benchmark, the Russell Developed Large-Cap Index. The Fund faced headwinds in the quarter as more volatile and less fundamentally sound stocks outperformed more defensive stocks with strong fundamentals, such as consumer staples and utilities.

Contributors to Return

The health care, real estate, and industrials sectors were the Fund’s top contributors, relative to its benchmark, for the quarter. Financial sector holding U.S. Bancorp outperformed the market as bank stocks generally rallied on expectations of higher rates and a steeper yield curve. U.S. Bancorp has consistently earned high returns on capital by maintaining a sound lending book and generating an above average portion of its revenues and earnings from its non-lending businesses. With that said, it clearly benefited from rising rates, and these developments could allow the company to increase its earnings and dividends faster than previously believed. CSX Corp., a rail-based transportation service provider, outperformed during the quarter as continued efficiency gains and stable pricing helped to offset coal volume weakness. The stock was further supported in the back half of the quarter as fourth quarter earnings estimates were revised upward, notably due to coal volume stabilization and moderating volume declines across other rail traffic segments. CSX management has continued to repurchase stock and we believe the company still has ample cash flow to fund a growing dividend. Xilinx, a programmable logic device developer, outperformed during the quarter aided by a strong earnings report in October, in which reported sales were better than expected in most segments, and earnings estimates were significantly higher than expectations. Later in the quarter, we learned that Xilinx products would be used in servers at Amazon’s datacenters, which helps open a new market opportunity for products with a fast-growing cloud computing customer.

Detractors from Return

The sectors that were the greatest detractors from the Fund’s return relative to its benchmark in the quarter were financials, consumer staples, and materials. Sage Group PLC, a provider of business management solutions, reported strong subscription growth supported by solid European adoption, and continued profit margin improvement. However, heightened competition and subdued forward fiscal year estimates weighed on the stock during the quarter. We believe much of Sage Group’s revenues are derived from recurring sources and that cost reduction initiatives should drive the stock longer term. Cobham PLC, an aerospace and defense technology provider, was an underperformer for the quarter. The company made a negative preannouncement related to expectations for its satellite and communications and wireless business unit while U.S. Federal Aviation Administration compliance slowed cash payments. Cobham’s stock, however, traded favorably following the election as industrials and defense stocks rallied in anticipation of increased spending under the new administration. Royal DSM NV (official stock name Koninklijke DSM NV) a manufacturer of nutritional, pharmaceutical and industrial products, underperformed during the quarter following precipitous declines in vitamin E pricing. DSM, however, reported another quarter of solid results, largely attributed to its materials business. We believe DSM’s recent declines due to vitamin E pricing will be a short-term detractor as the company’s volumes and profitability have continued to trend up due to operational initiatives and strong execution.

Outlook and Positioning

As we analyze what has taken place in the political world, we find ourselves with more questions than answers regarding economic outlooks and potential impacts on financial markets. The stock market has quickly priced in higher interest rates and faster economic growth for some sectors and individual stocks. At the same time, it has discounted others that might be hurt by a strong U.S. dollar, have international exposure, are dependent on exports, or are domiciled outside the United States. However, we know from history and experience that policy changes take time and don’t always have the expected effect. We also know that, over time, stock prices have historically followed cash flow, not headlines or tweets. As such, we are working diligently to find stocks that have been unduly punished but that we believe still have attractive opportunities to grow cash flow and improve returns. In addition, we have taken advantage of individual stock appreciation that we felt was too far ahead of fundamentals. We also note that investor uncertainty has accelerated, and uncertainty generally feeds volatility, which we believe can create opportunities for value-oriented long-term investors.

Stock Performance (3 months ended 12/31/2016)
Top 5 Stocks Average Weight Contribution to Return
US Bancorp 3.79% 0.72%
CSX Corp 3.94 0.71
Xilinx Inc 3.27 0.41
Whitbread PLC 1.56 0.24
Total SA 3.18 0.24
Bottom 5 Stocks Average Weight Contribution to Return
Kimberly-Clark Corp 3.25% -0.33%
British American Tobacco PLC 2.94 -0.40
Koninklijke DSM NV 3.28 -0.42
Cobham PLC 0.72 -0.44
Sage Group PLC 2.90 -0.54
Top 5 Stocks
US Bancorp
Average Weight 3.79%
Contribution to Return 0.72%
CSX Corp
Average Weight 3.94
Contribution to Return 0.71
Xilinx Inc
Average Weight 3.27
Contribution to Return 0.41
Whitbread PLC
Average Weight 1.56
Contribution to Return 0.24
Total SA
Average Weight 3.18
Contribution to Return 0.24
Bottom 5 Stocks
Kimberly-Clark Corp
Average Weight 3.25%
Contribution to Return -0.33%
British American Tobacco PLC
Average Weight 2.94
Contribution to Return -0.40
Koninklijke DSM NV
Average Weight 3.28
Contribution to Return -0.42
Cobham PLC
Average Weight 0.72
Contribution to Return -0.44
Sage Group PLC
Average Weight 2.90
Contribution to Return -0.54
Formerly the Westcore Blue Chip Dividend 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 12/31/16. 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 Global Large-Cap 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.

 

Formerly the Westcore Blue Chip Dividend Fund.
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 12/31/16. 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.

Risk Profile

Low
High

Same Strategy, New Name

The Westcore Blue Chip Dividend Fund is now the Westcore Global Large-Cap Dividend Fund.

Learn More

Request More Information

captcha

Are you an investment professional:YesNo