Colorado Tax Free Fund Institutional - WICOX

Investment Objective

The Segall Bryant & Hamill Colorado Tax Free Fund Institutional (the “Fund”) seeks income exempt from both federal and Colorado state personal income taxes.

Performance

Previous Quarter Ending: 3/31/2018
Fund Name %3 Mo6 MoCYTD1 Yr3 Yr5 Yr10 YrSince Inception*
Colorado Tax Free Fund Institutional -1.03 -0.04 -1.03 2.64 1.97 2.32 3.65 4.51
Bloomberg Barclays U.S. 10-Year Municipal Bond Index -1.61 -1.10 -1.61 2.31 2.14 2.72 4.66 5.68
Performance as of:.. 4/30/2018
Fund Name %1 Mo3 Mo6 MoCYTD1 Yr3 Yr5 Yr10 YrSince Inception*
Colorado Tax Free Fund Institutional -0.28 -0.34 -0.52 -1.31 1.85 2.03 2.00 3.55 4.48
Bloomberg Barclays U.S. 10-Year Municipal Bond Index -0.22 -0.30 -1.53 -1.83 1.11 2.27 2.41 4.57 5.66
Performance as of:: 5/25/2018
Fund NameNAV $NAV Change%YTD Return%
11.350.01-0.70

* Since Inception Date: 4/29/2016

Segall Bryant & Hamill acquired Denver Investment Advisors LLC on April 30, 2018. Prior to this date, management of the Colorado Tax Free Fund Institutional was performed by the portfolio managers at Denver Investment Advisors LLC.

Institutional Class Annual Expense Ratio -- Gross 0.65%, Net: 0.51%

Performance data quoted represents past performance and does not guarantee future results. Performance information for the institutional class shares prior to their inception is based on the performance of the retail class. Current performance may be lower or higher than the performance quoted. To obtain current performance as of the most recent month-end, please call (800) 392-2673. Average annual total returns reflect the reinvestment of dividends, capital gains distributions, all fee waivers and expense reimbursements. If imposed, the fee would reduce the performance quoted. Investment return and principal value will vary, and shares, when redeemed, may be worth more or less than their original cost.

The Fund’s advisor (the “Adviser”) has contractually agreed to waive the investment advisory and/or administration fees and/or to reimburse other expenses from May 1, 2018 until at least April 30, 2020, so that the ratio of expenses to average net assets as reported in the Fund’s Financial Highlights will be no more than 0.65% for the Fund’s Retail Class for such period. From May 1, 2018 until at least April 30, 2020, for the Fund’s Institutional Class, the Adviser has contractually agreed to waive the investment advisory and/or administration fees and/or to reimburse other expenses in the same proportion as the Retail Class waivers/ reimbursements as described above and also to waive or reimburse Institutional Class-specific Other Expenses, but only to the extent that after applying the waiver/reimbursements described in this sentence, the excess of the net Retail Class expense ratio over the net Institutional Class expense ratio does not exceed 25 basis points. If after applying the waivers/reimbursements discussed above, the excess of the net Retail Class expense ratio over the net Institutional Class expense ratio is less than 15 basis points, then the Adviser agrees to waive/reimburse such that the excess equals 15 basis points. This agreement may not be terminated or modified by the Adviser prior to April 30, 2020 without the approval of the Board of Trustees.

Investment Team

Kenneth A. Harris, CFA

Senior Portfolio Manager, Principal

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Nicholas J. Foley

Senior Portfolio Manager

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James D. Dadura, CFA

Director of Fixed Income, Principal

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Troy A. Johnson, CFA  

Director of Fixed Income Research, Principal

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Darren G. Hewitson, CFA

Senior Portfolio Manager, Principal

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Gregory C. Hosbein, CFA 

Senior Portfolio Manager, Principal

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Gregory M. Shea, CFA

Senior Portfolio Manager, Principal

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Michael R. Diehl, CFA

Portfolio Manager

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Maergrethe F. Amoussou, CFA

Senior Fixed Income Analyst

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Nick N. Detchev, CFA  

Senior Fixed Income Analyst

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Steven G. Kindred, CFA, CPA 

Senior Fixed Income Analyst

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William S. Oh, CFA, FRM 

Senior Fixed Income Analyst

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Daniel T. Schniedwind, CFA

Senior Fixed Income Analyst

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Nick Yu, CFA  

Senior Fixed Income Analyst

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Nicole J. Foote 

Fixed Income Analyst

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Jesse T. Kallman   

Fixed Income Analyst

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