Adelante U.S. Real Estate Securities Fund (the "Fund") is an open-end, no-load mutual fund that provides access to Adelante Capital Management's expertise in real estate securities portfolio management through a daily valued investment vehicle with low minimum investment thresholds.

The principal risks of investing in the Fund are risks generally associated with investing in stocks and risks specific to investing in the real estate industry. Real estate investing involves special risks, including interest rate fluctuation, credit risk, liquidity risk and the impact of varied economic conditions on real estate values and occupancy rates. Some real estate securities, including REITs, have limited diversification and are, therefore, subject to risks inherent in operating and financing a limited number of projects, including greater market fluctuations.

You should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. For a Prospectus that contains this and other information about the Fund, please call (877) 563-5327. Please read the Prospectus carefully before investing.
UMB Distribution Services, LLC, Distributor.