rom our landmark headquarters in Chicago, Illinois, Driehaus Capital Management LLC provides investment management services to institutional clients, high net worth individuals and mutual fund investors.

We specialize in domestic and international equity investing, using an aggressive growth style, with the objective of capital appreciation.

(June 1, 2009)  Driehaus Mutual Funds launched the Driehaus Active Income Fund (the "Fund"). The Fund is an income fund seeking to provide current income and capital appreciation. The Fund invests primarily in U.S. fixed income and floating rate securities, of both investment and non-investment grade credit quality, and by engaging in a variety of short-term trading strategies (involving both fixed income and equity securities). Please click here to view additional information about the Fund.

The Driehaus Active Income Fund (the "Fund"), in addition to investing in unrated and investment grade bonds, may also invest in junk bonds, which involve greater credit risk, including the risk of default. The prices of high yield bonds are more sensitive to changing economic conditions and can fall dramatically in response to negative news about the issuer or its industry, or the economy in general. The use of derivatives involves risks different from, and possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid and difficult to value, and there is a risk that changes in the value of a derivative held by the Fund will not correlate with the Fund’s other investments. Further, the Fund may invest in derivatives for speculative purposes. Gains or losses from speculative positions in a derivative may be much greater than the derivative’s original cost and potential losses may be substantial.  The Fund may make short sales. Short sales expose the Fund to the risk of loss. It is anticipated that the Fund will experience high rates of portfolio turnover, which may result in payment by the Fund of above-average transaction costs. This is a nondiversified fund; compared to other funds, the Fund may invest a greater percentage of assets in a particular issuer or a small number of issuers. As a consequence, the Fund may be subject to greater risks and larger losses than diversified funds.

Please consider the investment objectives, risks, fees and expenses of the Fund carefully prior to investing. The  prospectus contains this and other important information about the Fund. To obtain a copy of the prospectus, please call  us at (877) 779-0079. Please read the prospectus carefully before investing.