Century Management, Founded in 1974
805 Las Cimas Pkwy, Suite 430, Austin, TX 78746
Investment Counselors
© 2010
Century
Managemen
t

Louis Rukeyser’s Mutual Funds: “True Religion”, January 2010

Benjamin Shepherd, editor of Louis Rukeyser's Mutual Funds shares his opinion on multi-sector bond funds and the difficulty of Allocations needs. Please read the article entitled “True Religion.”

The investment objective of the CM Advisers Fixed Income Fund is to preserve capital as well as maximize total return (income + appreciation) through fixed income securities.

Past performance does not guarantee future results. 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. Current performance may be lower or higher than the performance data quoted. Upon redemption, shares may be worth more or less than their original cost. Please examine the standardized performance for the CM Fixed Income Fund as of the most recent quarter end and for the total annual fund operating expense ratio.

Please examine the total net assets for CM Fixed Income Fund for the most recent quarter end.

The performance of any single portfolio holding is no indication of the performance of other portfolio holdings of the CM Fixed Income Fund or of the performance of the Fund itself. Please examine the holdings details of the CM Fixed Income Fund.

An investor should consider the investment objectives, risks, and charges and expenses of the CM Family of Funds carefully before investing. The prospectus contains this and other information about the Funds. A copy of the prospectus is available by calling the Funds directly at 888-859-5856 or at www.centman.com. The prospectus should be read carefully before investing.

The CM Family of Funds are distributed by Ultimus Fund Distributors, LLC. 225 Pictoria Drive, Suite 450, Cincinnati, Ohio 45246. Phone number 1-888-859-5856.