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Purchasing Adelante U.S. Real Estate Securities Fund

Adelante U.S. Real Estate Securities Fund has two share classes:

Share Class
Ticker Symbol
Minimum Investment
Expense Ratio
K
LLUKX
$10,000
1.10%
Y
LLUYX
$250,000
0.90%

The minimum investment threshold for Class K shares is based on direct
purchase. Class K shares can be purchased with lower minimum investments
through the following intermediaries: Bear Stearns, Charles
Schwab, Fidelity, LPL Financial, Pershing (DLJ), Scottrade, TD Ameritrade,
Trust Company of America and Vanguard.

UMB Distribution Services, LLC, Distributor.

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