ZEVENBERGEN GROWTH FUND

The Zevenbergen Growth Fund utilizes a broad industry lens to hand-select a portfolio of 30-60 high quality growth companies. The Growth Fund invests in seasoned pioneers across all market capitalizations with the ability to sustainably manage growth for the long-term.

Average Annualized Total Returns as of December 31, 2016
3 Months YTD 1 Year Since Inception
8/31/2015
Zevenbergen Growth Fund Inv. -3.07% -3.17% -3.17% -1.58%
Zevenbergen Growth Fund Inst. -2.96% -2.87% -2.87% -1.28%
Russell 3000 Growth Index 1.20% 7.39% 7.39% 8.73%
TOP TEN as of September 30, 2016
 
Amazon.com, Inc. 7.3%
Facebook, Inc. 6.1%
Netflix, Inc. 5.4%
XPO Logistics, Inc. 5.2%
Tesla Motors, Inc. 5.1%
Palo Alto Networks, Inc. 4.2%
Celgene Corporations 4.1%
Alphabet Inc. Class A 3.6%
Charles Schwab Corporation 3.4%
Regeneron Pharmaceuticals, Inc. 3.3%
as of September 30, 2016
  Zevenbergen Growth Fund Russell 3000® Growth
 
Number of Holdings 39 1,753
L.T. Growth Forecast IBES Median 23.7% 12.8%
Portfolio P/E (IBES 1 Yr Forecast EPS) 32.8X 18.9X
PEG Ratio (L.T. Growth Forecast – IBED Median) 1.4X 1.5X
Debt/Capital 38.7% 52.6%
Wtd. Average Market Cap ($ Billions) $96.9 $140.9
as of September 30, 2016
Ticker: Investor Class ZVNBX
Ticker: Institutional Class ZVNIX
CUSIP: Investor Class 89832P648
CUSIP: Institutional Class 89832P630
Inception Date August 31, 2015
Investor Class Minimum $2,500
Institutional Class Minimum $250,000
Total Net Assets $4,076,088.11
Investor Net Expense Ratio 1.01%
Institutional Net Expense Ratio 1.31%
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The Fund imposes a 1.00% redemption fee on shares held for 90 days or less. Performance data does not reflect the redemption fee. If it had, return would be reduced. Current performance of the fund may be lower or higher than the performance quote. Performance data current to the most recent month end may be obtained by calling (844) ZVNBRGN. Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

Investor Gross Expense Ratio: 22.38%, Net Expense Ratio: 1.31%
Institutional Gross Expense Ratio: 15.11%, Net Expense Ratio: 1.01%
Shareholders pay net expense ratio. ZCI has contractually agreed to keep fund expenses at or below the net expense ratio through 08/31/17.

Russell 3000® Growth Index: A market capitalization weighted index based on the Russell 3000® index. The Russell 3000® Growth Index includes companies that display signs of above average growth. The index is used to provide a gauge of the performance of growth stocks in the U.S. One cannot invest directly in an index.

Long-Term Growth – LTG: An investing strategy or concept where a security will appreciate in value for a relatively long period of time, whether or not the growth is initiated immediately or later on. Long-term growth is a relative term, as the investing horizon differs between investing styles, but the perceived appreciation in the security remains the same.

PE Ratio: The price-to-earnings ratio, or P/E ratio, is an equity valuation multiple. It is defined as market price per share divided by annual earnings per share.

Price/Earnings To Growth – PEG Ratio: Price/Earnings to Growth (PEG) is a stock’s price-to-earnings ratio divided by the growth rate of its earnings for a specified time period. The PEG ratio is used to determine a stock’s value while taking the company’s earnings growth into account, and is considered to provide a more complete picture than the P/E ratio. While a high P/E ratio may make a stock look like a good buy, factoring in the company’s growth rate to get the stock’s PEG ratio can tell a different story. The lower the PEG ratio, the more the stock may be undervalued given its earnings performance.

Debt to Capital Ratio: A measurement of a company’s financial leverage, calculated as the company’s debt divided by its total capital.

Weighted Average Market Capitalization: A portfolio weighted by the market capitalization of each stock in the portfolio. In such a weighting scheme, larger companies account for a greater portion of the portfolio.

Fund holdings and sector allocations are subject to change at any time
and are not recommendations to buy or sell any security.