Performance

Quarter-End Performance as of Jun 30, 2021

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.

QTR
7.33%
YTD
20.91%
1 Year
90.94%
3 Year
36.68%
5 Year
36.44%
10 Year
22.61%
Since Inception
21.14%

Russell Microcap Growth Index*
Has Footnotes

QTR
3.18%
YTD
20.57%
1 Year
65.78%
3 Year
17.29%
5 Year
18.82%
10 Year
13.01%
Since Inception
11.34%

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.

QTR
5.01%
YTD
14.56%
1 Year
70.43%
3 Year
31.14%
5 Year
31.99%
10 Year
19.91%
Since Inception
15.80%

Russell 2000 Growth Index*
Has Footnotes

QTR
3.92%
YTD
8.98%
1 Year
51.36%
3 Year
15.94%
5 Year
18.76%
10 Year
13.52%
Since Inception
10.78%

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.

QTR
5.14%
YTD
14.70%
1 Year
70.98%
3 Year
31.52%
5 Year
32.28%
10 Year
20.04%
Since Inception
15.89%

Russell 2000 Growth Index*
Has Footnotes

QTR
3.92%
YTD
8.98%
1 Year
51.36%
3 Year
15.94%
5 Year
18.76%
10 Year
13.52%
Since Inception
10.78%

DSMDX
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Driehaus Small/Mid Cap Growth Fund

Inception Date: 5/1/2020 The YTD and QTR performance is since the inception of the fund (5/1/2020). Sources: Driehaus Capital Management LLC, Russell Investments, SS&C Inc.

QTR
7.57%
YTD
13.20%
1 Year
61.94%
3 Year
n/a
5 Year
n/a
10 Year
n/a
Since Inception
78.96%

Russell 2500 Growth Index*
Has Footnotes

QTR
6.04%
YTD
8.67%
1 Year
49.63%
3 Year
n/a
5 Year
n/a
10 Year
n/a
Since Inception
58.63%

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.

QTR
8.47%
YTD
12.95%
1 Year
53.97%
3 Year
15.81%
5 Year
16.59%
10 Year
10.38%
Since Inception
15.74%

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

QTR
6.75%
YTD
10.32%
1 Year
44.91%
3 Year
11.91%
5 Year
13.29%
10 Year
7.89%
Since Inception
10.42%

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.

QTR
7.06%
YTD
6.32%
1 Year
40.24%
3 Year
14.72%
5 Year
15.11%
10 Year
7.01%
Since Inception
12.00%

MSCI Emerging Markets Growth Index (ND)*
Has Footnotes

QTR
4.42%
YTD
5.04%
1 Year
40.08%
3 Year
14.44%
5 Year
16.14%
10 Year
6.63%
Since Inception
n/a

MSCI Emerging Markets Index (ND)*
Has Footnotes

QTR
5.05%
YTD
7.45%
1 Year
40.90%
3 Year
11.27%
5 Year
13.03%
10 Year
4.28%
Since Inception
7.74%

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.

QTR
7.13%
YTD
6.43%
1 Year
40.49%
3 Year
14.98%
5 Year
15.29%
10 Year
7.10%
Since Inception
12.04%

MSCI Emerging Markets Growth Index (ND)*
Has Footnotes

QTR
4.42%
YTD
5.04%
1 Year
40.08%
3 Year
14.44%
5 Year
16.14%
10 Year
6.63%
Since Inception
n/a

MSCI Emerging Markets Index (ND)*
Has Footnotes

QTR
5.05%
YTD
7.45%
1 Year
40.90%
3 Year
11.27%
5 Year
13.03%
10 Year
4.28%
Since Inception
7.74%

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.

QTR
14.37%
YTD
16.40%
1 Year
51.47%
3 Year
19.22%
5 Year
14.25%
10 Year
7.71%
Since Inception
13.12%

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

QTR
11.25%
YTD
19.78%
1 Year
63.75%
3 Year
12.31%
5 Year
11.86%
10 Year
4.55%
Since Inception
12.91%

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

QTR
11.53%
YTD
20.03%
1 Year
64.20%
3 Year
13.52%
5 Year
11.46%
10 Year
4.48%
Since Inception
12.41%

DMAGX
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Driehaus Emerging Markets Opportunities 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.

QTR
7.27%
YTD
6.92%
1 Year
37.11%
3 Year
16.07%
5 Year
n/a
10 Year
n/a
Since Inception
14.62%

MSCI Emerging Markets Index (ND)*
Has Footnotes

QTR
5.05%
YTD
7.45%
1 Year
40.90%
3 Year
11.27%
5 Year
n/a
10 Year
n/a
Since Inception
11.41%

MSCI Emerging Markets/JP Morgan Global Bond Index Emerging Markets Global Diversified *
Has Footnotes

QTR
4.32%
YTD
2.02%
1 Year
22.81%
3 Year
7.88%
5 Year
n/a
10 Year
n/a
Since Inception
7.48%

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.

QTR
2.93%
YTD
6.11%
1 Year
27.09%
3 Year
13.93%
5 Year
11.14%
10 Year
n/a
Since Inception
7.16%

S&P 500 Index*
Has Footnotes

QTR
8.55%
YTD
15.25%
1 Year
40.79%
3 Year
18.67%
5 Year
17.65%
10 Year
n/a
Since Inception
15.12%

FTSE 3-Month T-Bill Index*
Has Footnotes

QTR
0.01%
YTD
0.02%
1 Year
0.08%
3 Year
1.31%
5 Year
1.14%
10 Year
n/a
Since Inception
0.75%
Has FootnotesMutual FundQTRYTD1 Year3 Year5 Year10 YearSince Inception
Driehaus Micro Cap Growth Fund7.33%20.91%90.94%36.68%36.44%22.61%21.14%

"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*3.18%20.57%65.78%17.29%18.82%13.01%11.34%
Driehaus Small Cap Growth Fund - Investor5.01%14.56%70.43%31.14%31.99%19.91%15.80%

"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*3.92%8.98%51.36%15.94%18.76%13.52%10.78%
Driehaus Small Cap Growth Fund - Institutional5.14%14.70%70.98%31.52%32.28%20.04%15.89%

"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.

Russell 2000 Growth Index*3.92%8.98%51.36%15.94%18.76%13.52%10.78%
Driehaus Small/Mid Cap Growth Fund7.57%13.20%61.94%n/an/an/a78.96%

Inception Date: 5/1/2020 The YTD and QTR performance is since the inception of the fund (5/1/2020). Sources: Driehaus Capital Management LLC, Russell Investments, SS&C Inc.

Russell 2500 Growth Index*6.04%8.67%49.63%n/an/an/a58.63%
Driehaus International Small Cap Growth Fund8.47%12.95%53.97%15.81%16.59%10.38%15.74%

“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)*6.75%10.32%44.91%11.91%13.29%7.89%10.42%
Driehaus Emerging Markets Growth Fund - Investor7.06%6.32%40.24%14.72%15.11%7.01%12.00%

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.

MSCI Emerging Markets Growth Index (ND)*4.42%5.04%40.08%14.44%16.14%6.63%n/a
MSCI Emerging Markets Index (ND)*5.05%7.45%40.90%11.27%13.03%4.28%7.74%
Driehaus Emerging Markets Growth Fund - Institutional7.13%6.43%40.49%14.98%15.29%7.10%12.04%

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 Growth Index (ND)*4.42%5.04%40.08%14.44%16.14%6.63%n/a
MSCI Emerging Markets Index (ND)*5.05%7.45%40.90%11.27%13.03%4.28%7.74%
Driehaus Emerging Markets Small Cap Growth Fund14.37%16.40%51.47%19.22%14.25%7.71%13.12%

“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)*11.25%19.78%63.75%12.31%11.86%4.55%12.91%
MSCI Emerging Markets Small Cap Growth Index (ND)*11.53%20.03%64.20%13.52%11.46%4.48%12.41%
Driehaus Emerging Markets Opportunities Fund7.27%6.92%37.11%16.07%n/an/a14.62%

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.

MSCI Emerging Markets Index (ND)*5.05%7.45%40.90%11.27%n/an/a11.41%
MSCI Emerging Markets/JP Morgan Global Bond Index Emerging Markets Global Diversified *4.32%2.02%22.81%7.88%n/an/a7.48%
Driehaus Event Driven Fund2.93%6.11%27.09%13.93%11.14%n/a7.16%

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*8.55%15.25%40.79%18.67%17.65%n/a15.12%
FTSE 3-Month T-Bill Index*0.01%0.02%0.08%1.31%1.14%n/a0.75%

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 Event Driven Fund which does 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 (800) 560-6111 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 our fund prospectus/summary prospectus, please call us at (800) 560-6111. Please read the prospectus and summary prospectus carefully before investing.

Foreside Financial Services, LLC, Distributor

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