Performance

Month-End Performance as of Feb 28, 2019

DMCRX
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Driehaus Micro Cap Growth Fund

"Since Inception" is calculated to include performance from the Fund's predecessor limited partnership (Performance Inception Date: 1/1/2003). The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus Micro Cap Growth Fund include the performance of one of the Fund's predecessor limited partnerships, which is calculated from January 1, 2003, before the Fund commenced operations and succeeded to the assets of its predecessors on November 18, 2013. The Fund's predecessors are the Driehaus Micro Cap Fund, L.P. (1996 inception) and the Driehaus Institutional Micro Cap Fund, L.P. (2011 inception). The performance of the Driehaus Micro Cap Fund, L.P., which was selected because it has the longer track record of the two predecessor partnerships, has been restated to reflect estimated expenses of the Fund. The predecessor limited partnerships were not registered under the Investment Company Act of 1940, as amended ("1940 Act") and thus were not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the predecessors had been registered under the 1940 Act, their performance may have been adversely affected. After-tax performance returns are not included for the Driehaus Micro Cap Fund, L.P. The predecessors were not regulated investment companies and therefore did not distribute current or accumulated earnings. Sources: Driehaus Capital Management LLC, Russell Investments, SS&C Inc.

MTH
8.55%
YTD
19.98%
1 Year
20.87%
3 Year
29.14%
5 Year
12.39%
10 Year
21.31%
Since Inception
17.66%

Russell Microcap®Growth Index*
Has Footnotes

MTH
6.64%
YTD
17.73%
1 Year
0.56%
3 Year
13.94%
5 Year
3.19%
10 Year
15.98%
Since Inception
9.15%

DVSMX
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Driehaus Small Cap Growth Fund - Investor

"Since Inception" is calculated to include performance from the Fund's predecessor limited partnership (Performance Inception Date: 1/1/2007). The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus Small Cap Growth Fund include the performance of one of the Fund’s predecessor limited partnerships, which is calculated from January 1, 2007, before it commenced operations as a series of the Driehaus Mutual Funds on August 21, 2017 and succeeded to the assets of the Driehaus Institutional Small Cap, L.P. (the “Predecessor Partnership”), Driehaus Small Cap Investors, L.P., Driehaus Institutional Small Cap Recovery Fund, L.P. and Driehaus Small Cap Recovery Fund, L.P., (together, the “Limited Partnerships”). The Limited Partnerships were managed by the same investment team with substantially the same investment objective, policies and philosophies as the Fund. The investment portfolios of the Limited Partnerships were identical and therefore had similar performance. The performance of the Predecessor Partnership is shown here because it has been in operation the longest. The Predecessor Partnership was not registered under the Investment Company Act of 1940, as amended (“1940 Act”), and thus was not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the Predecessor Partnership had been registered under the 1940 Act, its performance may have been adversely affected. Accordingly, future Fund performance may be different than the Predecessor Partnership’s past performance. After-tax performance returns are not included for the Predecessor Partnership. The Predecessor Partnership was not a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and therefore did not distribute current or accumulated earnings and profits and was not subject to the diversification and source of income requirements applicable to regulated investment companies. Sources: Driehaus Capital Management LLC, Russell Investments, SS&C Inc.

MTH
9.54%
YTD
23.16%
1 Year
22.82%
3 Year
29.10%
5 Year
12.42%
10 Year
20.30%
Since Inception
11.89%

DNSMX
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Driehaus Small Cap Growth Fund - Institutional

"Since Inception" is calculated to include performance from the Fund's predecessor limited partnership (Performance Inception Date: 1/1/2007) . The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus Small Cap Growth Fund include the performance of one of the Fund’s predecessor limited partnerships, which is calculated from January 1, 2007, before it commenced operations as a series of the Driehaus Mutual Funds on August 21, 2017 and succeeded to the assets of the Driehaus Institutional Small Cap, L.P. (the “Predecessor Partnership”), Driehaus Small Cap Investors, L.P., Driehaus Institutional Small Cap Recovery Fund, L.P. and Driehaus Small Cap Recovery Fund, L.P., (together, the “Limited Partnerships”). The Limited Partnerships were managed by the same investment team with substantially the same investment objective, policies and philosophies as the Fund. The investment portfolios of the Limited Partnerships were identical and therefore had similar performance. The performance of the Predecessor Partnership is shown here because it has been in operation the longest. The Predecessor Partnership was not registered under the Investment Company Act of 1940, as amended (“1940 Act”), and thus was not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the Predecessor Partnership had been registered under the 1940 Act, its performance may have been adversely affected. Accordingly, future Fund performance may be different than the Predecessor Partnership’s past performance. After-tax performance returns are not included for the Predecessor Partnership. The Predecessor Partnership was not a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and therefore did not distribute current or accumulated earnings and profits and was not subject to the diversification and source of income requirements applicable to regulated investment companies. Sources: Driehaus Capital Management LLC, Russell Investments, SS&C Inc.

MTH
9.58%
YTD
23.25%
1 Year
23.12%
3 Year
29.28%
5 Year
12.52%
10 Year
20.35%
Since Inception
11.93%

Russell 2000® Growth Index*
Has Footnotes

MTH
6.46%
YTD
18.75%
1 Year
6.70%
3 Year
18.27%
5 Year
8.16%
10 Year
17.69%
Since Inception
8.76%

DRIOX
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Driehaus International Small Cap Growth Fund

“Since Inception” is calculated to include performance from the Fund’s predecessor limited partnership. (Inception Date: 8/1/2002) The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus International Small Cap Growth Fund include the performance of the Fund's predecessor limited partnership, which is calculated from August 1, 2002 before the Fund commenced operations and succeeded to the assets of its predecessor on September 17, 2007. The predecessor limited partnership was not registered under the Investment Company Act of 1940, as amended ("1940 Act") and thus was not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the predecessor had been registered under the 1940 Act, the performance may have been adversely affected. The Fund's predecessor performance has been restated to reflect estimated expenses of the Fund. After-tax performance returns are not included for the predecessor limited partnership. The predecessor was not regulated investment companies and therefore did not distribute current or accumulated earnings. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MTH
2.36%
YTD
12.05%
1 Year
-9.07%
3 Year
10.96%
5 Year
5.13%
10 Year
14.11%
Since Inception
14.40%

MSCI AC World ex USA Small Cap Growth Index (ND)*
Has Footnotes

MTH
2.67%
YTD
10.95%
1 Year
-10.79%
3 Year
9.50%
5 Year
3.68%
10 Year
12.63%
Since Inception
9.13%

DREGX
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Driehaus Emerging Markets Growth Fund - Investor

Inception date: 12/31/1997 The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The inception of the Fund predates the inception of the index. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MTH
0.58%
YTD
8.56%
1 Year
-11.08%
3 Year
13.41%
5 Year
3.12%
10 Year
11.89%
Since Inception
11.05%

DIEMX
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Driehaus Emerging Markets Growth Fund - Institutional

Performance Inception Date: 12/31/1997 Institutional Class performance is that of the Investor Class from December 31, 1997 through the inception of the Institutional Class on July 17, 2017, and actual Institutional Class performance thereafter. Performance has not been adjusted to reflect the expenses of the Institutional Class for the period prior to the Class’s inception, and Institutional Class performance results would differ if such expenses were reflected. The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The inception of the Fund predates the inception of the index. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MTH
0.59%
YTD
8.56%
1 Year
-10.91%
3 Year
13.51%
5 Year
3.18%
10 Year
11.92%
Since Inception
11.06%

MSCI Emerging Markets Index (ND)*
Has Footnotes

MTH
0.22%
YTD
9.00%
1 Year
-9.89%
3 Year
15.04%
5 Year
4.13%
10 Year
10.32%
Since Inception
n/a

MSCI Emerging Markets Growth Index (ND)*
Has Footnotes

MTH
0.80%
YTD
10.33%
1 Year
-12.47%
3 Year
15.39%
5 Year
5.15%
10 Year
11.23%
Since Inception
n/a

DRESX
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Driehaus Emerging Markets Small Cap Growth Fund

“Since Inception” is calculated to include performance from the Fund’s predecessor limited partnership. (Inception Date: 12/1/2008) The 3 year, 5 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus Emerging Markets Small Cap Growth Fund include the performance of the Fund's predecessor limited partnership, which is calculated from December 1, 2008 before the Fund commenced operations and succeeded to the assets of its predecessor on August 22, 2011. The predecessor limited partnership was not registered under the Investment Company Act of 1940, as amended ("1940 Act") and thus was not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the predecessor had been registered under the 1940 Act, its performance may have been adversely affected. The Fund's predecessor performance has been restated to reflect estimated expenses of the Fund. After-tax performance returns are not included for the predecessor limited partnership. The predecessor was not a regulated investment company and therefore did not distribute current or accumulated earnings. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MTH
1.21%
YTD
8.33%
1 Year
-18.01%
3 Year
2.13%
5 Year
-2.40%
10 Year
9.65%
Since Inception
9.17%

MSCI Emerging Markets Small Cap Index (ND)*
Has Footnotes

MTH
1.30%
YTD
6.75%
1 Year
-14.34%
3 Year
9.03%
5 Year
2.00%
10 Year
11.74%
Since Inception
11.63%

MSCI Emerging Markets Small Cap Growth Index (ND)*
Has Footnotes

MTH
1.44%
YTD
6.51%
1 Year
-16.07%
3 Year
5.62%
5 Year
0.12%
10 Year
10.39%
Since Inception
10.37%

DRFRX
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Driehaus Frontier Emerging Markets Fund

Inception date: 5/4/2015 The 3 Year and Since Inception returns represent average annual total returns. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MTH
3.27%
YTD
6.30%
1 Year
-20.27%
3 Year
3.97%
5 Year
n/a
10 Year
n/a
Since Inception
-1.13%

MSCI Frontier Markets Index (ND)*
Has Footnotes

MTH
0.80%
YTD
5.59%
1 Year
-15.26%
3 Year
7.41%
5 Year
n/a
10 Year
n/a
Since Inception
0.41%

DMAGX
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Driehaus Multi-Asset Growth Economies Fund

Inception Date: 4/10/2017 The Since Inception return represents average annual total returns. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MTH
0.38%
YTD
7.45%
1 Year
-9.42%
3 Year
n/a
5 Year
n/a
10 Year
n/a
Since Inception
6.66%

Equally weighted MSCI Emerging Markets (ND) / JPMorgan GBI Emerging Markets Global Diversified*
Has Footnotes

MTH
-0.43%
YTD
6.65%
1 Year
-7.50%
3 Year
n/a
5 Year
n/a
10 Year
n/a
Since Inception
5.40%

MSCI Emerging Markets Index (ND)*
Has Footnotes

MTH
0.22%
YTD
9.00%
1 Year
-9.89%
3 Year
n/a
5 Year
n/a
10 Year
n/a
Since Inception
7.32%

LCMAX
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Driehaus Active Income Fund

Inception Date: 11/8/2005 The Driehaus Active Income Fund commenced operations on June 1, 2009 following the receipt of the assets and liabilities of the Lotsoff Capital Management Active Income Fund (the “Predecessor Fund”) through a reorganization into the Driehaus Active Income Fund. Lotsoff Capital Management was the investment adviser from inception (11/8/05) through April 2, 2009. Driehaus Capital Management LLC became the interim investment adviser to the Predecessor Fund on April 3, 2009. The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. Sources: Driehaus Capital Management LLC, Barclays, SS&C Inc.

MTH
0.74%
YTD
2.15%
1 Year
-0.65%
3 Year
3.21%
5 Year
0.92%
10 Year
3.39%
Since Inception
3.26%

FTSE 3-Month T-Bill Index*
Has Footnotes

MTH
0.19%
YTD
0.39%
1 Year
2.04%
3 Year
1.11%
5 Year
0.68%
10 Year
0.39%
Since Inception
1.17%

Bloomberg Barclays Aggregate Index*
Has Footnotes

MTH
-0.06%
YTD
1.00%
1 Year
3.17%
3 Year
1.69%
5 Year
2.32%
10 Year
3.71%
Since Inception
4.07%

DEVDX
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Driehaus Event Driven Fund

Inception Date: 8/26/2013 The 3 year, 5 year and Since Inception returns represent average annual total returns. Sources: Driehaus Capital Management LLC, Barclays, SS&C Inc.

MTH
6.10%
YTD
11.51%
1 Year
5.65%
3 Year
8.50%
5 Year
1.26%
10 Year
n/a
Since Inception
3.56%

S&P 500 Index*
Has Footnotes

MTH
3.21%
YTD
11.48%
1 Year
4.68%
3 Year
15.28%
5 Year
10.67%
10 Year
n/a
Since Inception
12.09%

FTSE 3-Month T-Bill Index*
Has Footnotes

MTH
0.19%
YTD
0.39%
1 Year
2.04%
3 Year
1.11%
5 Year
0.68%
10 Year
n/a
Since Inception
0.62%
Has FootnotesMutual FundMTHYTD1 Year3 Year5 Year10 YearSince Inception
Driehaus Micro Cap Growth Fund8.55%19.98%20.87%29.14%12.39%21.31%17.66%

"Since Inception" is calculated to include performance from the Fund's predecessor limited partnership (Performance Inception Date: 1/1/2003). The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus Micro Cap Growth Fund include the performance of one of the Fund's predecessor limited partnerships, which is calculated from January 1, 2003, before the Fund commenced operations and succeeded to the assets of its predecessors on November 18, 2013. The Fund's predecessors are the Driehaus Micro Cap Fund, L.P. (1996 inception) and the Driehaus Institutional Micro Cap Fund, L.P. (2011 inception). The performance of the Driehaus Micro Cap Fund, L.P., which was selected because it has the longer track record of the two predecessor partnerships, has been restated to reflect estimated expenses of the Fund. The predecessor limited partnerships were not registered under the Investment Company Act of 1940, as amended ("1940 Act") and thus were not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the predecessors had been registered under the 1940 Act, their performance may have been adversely affected. After-tax performance returns are not included for the Driehaus Micro Cap Fund, L.P. The predecessors were not regulated investment companies and therefore did not distribute current or accumulated earnings. Sources: Driehaus Capital Management LLC, Russell Investments, SS&C Inc.

Russell Microcap®Growth Index*6.64%17.73%0.56%13.94%3.19%15.98%9.15%
Driehaus Small Cap Growth Fund - Investor9.54%23.16%22.82%29.10%12.42%20.30%11.89%

"Since Inception" is calculated to include performance from the Fund's predecessor limited partnership (Performance Inception Date: 1/1/2007). The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus Small Cap Growth Fund include the performance of one of the Fund’s predecessor limited partnerships, which is calculated from January 1, 2007, before it commenced operations as a series of the Driehaus Mutual Funds on August 21, 2017 and succeeded to the assets of the Driehaus Institutional Small Cap, L.P. (the “Predecessor Partnership”), Driehaus Small Cap Investors, L.P., Driehaus Institutional Small Cap Recovery Fund, L.P. and Driehaus Small Cap Recovery Fund, L.P., (together, the “Limited Partnerships”). The Limited Partnerships were managed by the same investment team with substantially the same investment objective, policies and philosophies as the Fund. The investment portfolios of the Limited Partnerships were identical and therefore had similar performance. The performance of the Predecessor Partnership is shown here because it has been in operation the longest. The Predecessor Partnership was not registered under the Investment Company Act of 1940, as amended (“1940 Act”), and thus was not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the Predecessor Partnership had been registered under the 1940 Act, its performance may have been adversely affected. Accordingly, future Fund performance may be different than the Predecessor Partnership’s past performance. After-tax performance returns are not included for the Predecessor Partnership. The Predecessor Partnership was not a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and therefore did not distribute current or accumulated earnings and profits and was not subject to the diversification and source of income requirements applicable to regulated investment companies. Sources: Driehaus Capital Management LLC, Russell Investments, SS&C Inc.

Driehaus Small Cap Growth Fund - Institutional9.58%23.25%23.12%29.28%12.52%20.35%11.93%

"Since Inception" is calculated to include performance from the Fund's predecessor limited partnership (Performance Inception Date: 1/1/2007) . The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus Small Cap Growth Fund include the performance of one of the Fund’s predecessor limited partnerships, which is calculated from January 1, 2007, before it commenced operations as a series of the Driehaus Mutual Funds on August 21, 2017 and succeeded to the assets of the Driehaus Institutional Small Cap, L.P. (the “Predecessor Partnership”), Driehaus Small Cap Investors, L.P., Driehaus Institutional Small Cap Recovery Fund, L.P. and Driehaus Small Cap Recovery Fund, L.P., (together, the “Limited Partnerships”). The Limited Partnerships were managed by the same investment team with substantially the same investment objective, policies and philosophies as the Fund. The investment portfolios of the Limited Partnerships were identical and therefore had similar performance. The performance of the Predecessor Partnership is shown here because it has been in operation the longest. The Predecessor Partnership was not registered under the Investment Company Act of 1940, as amended (“1940 Act”), and thus was not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the Predecessor Partnership had been registered under the 1940 Act, its performance may have been adversely affected. Accordingly, future Fund performance may be different than the Predecessor Partnership’s past performance. After-tax performance returns are not included for the Predecessor Partnership. The Predecessor Partnership was not a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended, and therefore did not distribute current or accumulated earnings and profits and was not subject to the diversification and source of income requirements applicable to regulated investment companies. Sources: Driehaus Capital Management LLC, Russell Investments, SS&C Inc.

Russell 2000® Growth Index*6.46%18.75%6.70%18.27%8.16%17.69%8.76%
Driehaus International Small Cap Growth Fund2.36%12.05%-9.07%10.96%5.13%14.11%14.40%

“Since Inception” is calculated to include performance from the Fund’s predecessor limited partnership. (Inception Date: 8/1/2002) The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus International Small Cap Growth Fund include the performance of the Fund's predecessor limited partnership, which is calculated from August 1, 2002 before the Fund commenced operations and succeeded to the assets of its predecessor on September 17, 2007. The predecessor limited partnership was not registered under the Investment Company Act of 1940, as amended ("1940 Act") and thus was not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the predecessor had been registered under the 1940 Act, the performance may have been adversely affected. The Fund's predecessor performance has been restated to reflect estimated expenses of the Fund. After-tax performance returns are not included for the predecessor limited partnership. The predecessor was not regulated investment companies and therefore did not distribute current or accumulated earnings. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MSCI AC World ex USA Small Cap Growth Index (ND)*2.67%10.95%-10.79%9.50%3.68%12.63%9.13%
Driehaus Emerging Markets Growth Fund - Investor0.58%8.56%-11.08%13.41%3.12%11.89%11.05%

Inception date: 12/31/1997 The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The inception of the Fund predates the inception of the index. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

Driehaus Emerging Markets Growth Fund - Institutional0.59%8.56%-10.91%13.51%3.18%11.92%11.06%

Performance Inception Date: 12/31/1997 Institutional Class performance is that of the Investor Class from December 31, 1997 through the inception of the Institutional Class on July 17, 2017, and actual Institutional Class performance thereafter. Performance has not been adjusted to reflect the expenses of the Institutional Class for the period prior to the Class’s inception, and Institutional Class performance results would differ if such expenses were reflected. The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. The inception of the Fund predates the inception of the index. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MSCI Emerging Markets Index (ND)*0.22%9.00%-9.89%15.04%4.13%10.32%n/a
MSCI Emerging Markets Growth Index (ND)*0.80%10.33%-12.47%15.39%5.15%11.23%n/a
Driehaus Emerging Markets Small Cap Growth Fund1.21%8.33%-18.01%2.13%-2.40%9.65%9.17%

“Since Inception” is calculated to include performance from the Fund’s predecessor limited partnership. (Inception Date: 12/1/2008) The 3 year, 5 year and Since Inception returns represent average annual total returns. The average annual total returns of the Driehaus Emerging Markets Small Cap Growth Fund include the performance of the Fund's predecessor limited partnership, which is calculated from December 1, 2008 before the Fund commenced operations and succeeded to the assets of its predecessor on August 22, 2011. The predecessor limited partnership was not registered under the Investment Company Act of 1940, as amended ("1940 Act") and thus was not subject to certain investment and operational restrictions that are imposed by the 1940 Act. If the predecessor had been registered under the 1940 Act, its performance may have been adversely affected. The Fund's predecessor performance has been restated to reflect estimated expenses of the Fund. After-tax performance returns are not included for the predecessor limited partnership. The predecessor was not a regulated investment company and therefore did not distribute current or accumulated earnings. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MSCI Emerging Markets Small Cap Index (ND)*1.30%6.75%-14.34%9.03%2.00%11.74%11.63%
MSCI Emerging Markets Small Cap Growth Index (ND)*1.44%6.51%-16.07%5.62%0.12%10.39%10.37%
Driehaus Frontier Emerging Markets Fund3.27%6.30%-20.27%3.97%n/an/a-1.13%

Inception date: 5/4/2015 The 3 Year and Since Inception returns represent average annual total returns. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

MSCI Frontier Markets Index (ND)*0.80%5.59%-15.26%7.41%n/an/a0.41%
Driehaus Multi-Asset Growth Economies Fund0.38%7.45%-9.42%n/an/an/a6.66%

Inception Date: 4/10/2017 The Since Inception return represents average annual total returns. Sources: Driehaus Capital Management LLC, Morgan Stanley Capital International Inc., SS&C Inc.

Equally weighted MSCI Emerging Markets (ND) / JPMorgan GBI Emerging Markets Global Diversified*-0.43%6.65%-7.50%n/an/an/a5.40%
MSCI Emerging Markets Index (ND)*0.22%9.00%-9.89%n/an/an/a7.32%
Driehaus Active Income Fund0.74%2.15%-0.65%3.21%0.92%3.39%3.26%

Inception Date: 11/8/2005 The Driehaus Active Income Fund commenced operations on June 1, 2009 following the receipt of the assets and liabilities of the Lotsoff Capital Management Active Income Fund (the “Predecessor Fund”) through a reorganization into the Driehaus Active Income Fund. Lotsoff Capital Management was the investment adviser from inception (11/8/05) through April 2, 2009. Driehaus Capital Management LLC became the interim investment adviser to the Predecessor Fund on April 3, 2009. The 3 year, 5 year, 10 year and Since Inception returns represent average annual total returns. Sources: Driehaus Capital Management LLC, Barclays, SS&C Inc.

FTSE 3-Month T-Bill Index*0.19%0.39%2.04%1.11%0.68%0.39%1.17%
Bloomberg Barclays Aggregate Index*-0.06%1.00%3.17%1.69%2.32%3.71%4.07%
Driehaus Event Driven Fund6.10%11.51%5.65%8.50%1.26%n/a3.56%

Inception Date: 8/26/2013 The 3 year, 5 year and Since Inception returns represent average annual total returns. Sources: Driehaus Capital Management LLC, Barclays, SS&C Inc.

S&P 500 Index*3.21%11.48%4.68%15.28%10.67%n/a12.09%
FTSE 3-Month T-Bill Index*0.19%0.39%2.04%1.11%0.68%n/a0.62%

Disclosures

The performance data shown represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Principal value and investment returns will fluctuate so that investors' shares, when redeemed, may be worth more or less than their original cost. The Funds will charge a redemption fee of 2.00% on shares held less than 60 days, except for the Driehaus Active Income Fund and the Driehaus Event Driven Fund which do not have a redemption fee. Performance data represents the rate that an investor would have earned (or lost) on an investment in the Funds (assuming reinvestment of all dividends and distributions). Average annual total return reflects annualized change. Since Fund performance is subject to change after the month-end, please call (877) 779-0079 for the Driehaus Multi-Asset Growth Economies Fund, the Driehaus Active Income Fund and/or the Driehaus Event Driven Fund and (800) 560-6111 for all other funds or view our daily NAVs for more current performance information. To view the risks associated with these funds, please click here.

Please consider the investment objectives, risks, fees and expenses of the Funds carefully prior to investing. The prospectus and summary prospectus contain this and other important information about the Fund. To obtain a copy of the Driehaus Multi-Asset Growth Economies Fund, Driehaus Active Income Fund and/or the Driehaus Event Driven Fund prospectus/summary prospectus, please call us at (877) 779-0079. For all other funds, please call (800) 560-6111. Please read the prospectus and summary prospectus carefully before investing.

Driehaus Securities LLC, Distributor

* To view the Index definitions, see the Index Definitions.