Average Annual Total Returns (%)

as of 10/31/2008

Class I performance does not include the effects of sales charges.

  INCEPTION EXPENSE RATIOS
  1 MO YTD 1YR 3YR 5YR 10YR (7/1/02) GROSS NET
I-Shares -20.77 -37.36 -40.18 -6.90 2.36 -- 4.46 1.04 1.04
Russell Midcap Value Index -22.76 -34.70 -38.83 -6.82 2.97 5.74      
Based on Risk-Adjusted Returns
Morningstar OVERALL 3YR 5YR 10YR
Mid Cap Value - I Shares
(Category: Mid-Cap Value )

out of 332 funds

out of 332 funds

out of 227 funds
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Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here. 

The Russell Mid Cap Value Index, an unmanaged index of medium-sized value stocks with lower price-to-book ratios and lower forecasted growth values, is not available for direct investment. Unlike a mutual fund, the performance of an index assumes no taxes, transaction costs, management fees or other expenses.

Investments in mid-sized companies present greater risk of loss than investments in large companies.

Net expense ratio includes voluntary expense reimbursements by the Funds' investment advisers that may change or end at any time.

Quick Stats
as of 10/31/2008
Inception 7/1/2002
Ticker ARVIX
CUSIP 01748E831
Net Assets $105,628,545
Morningstar Style
Mid-Cap Value
Daily Price as of 11/19/08
NAV POP Chg ($) Chg (%)
$6.99 $6.99 -$0.45 -6.44%
Risk/Reward Chart
Portfolio Management
Michael E. Santelli, CFA, CPA
Managing Director, Mid Cap Value & Focused Equity
Alex L. Vallecillo, CFA
Senior Portfolio Manager, Mid Cap Value & Focused Equity