Dreman Value Managment, LLC


Dreman Contrarian Small Cap Value Fund

Objective

The investment objective of the fund is long-term capital appreciation. The fund seeks to meet this objective by purchasing undervalued stocks based on low price-to-earnings, price-to-book, price-to-cash flow and high dividend yield.

Strategy

The Dreman Contrarian Small Cap Value Fund's strategy is based on a disciplined, low P/E approach to stock selection. We invest in small cap companies that our research concludes to be undervalued and prove to exhibit strong fundamentals and earnings growth.

Quick Facts (As of 9/30/2014):

Inception Date: 12/31/2003
AUM: $141,916,541
Number of Holdings: 124
Benchmark: Russell 2000® Value Index

Portfolio Management Team:

Mark Roach (Managing Director and Lead Portfolio Manager) Mario Tufano, CFA (Associate Portfolio Manager) Nelson Woodard, Ph.D. (Co-Chief Investment Officer) David Dreman (Founder and Chairman) E. Clifton Hoover, Jr., CFA (Chief Investment Officer)

Fund/Strategy Description:

The team that manages the Dreman Contrarian Small Cap Value Fund is led by Mark Roach, Portfolio Manager, and it invests in companies with market capitalizations between $100 million and $3 billion. The team focuses on eliminating stocks with above-market valuations by comparing financial ratios such as the price-to-earnings, price-to-book and price-to-cash flow.

Through extensive bottom-up research and rigorous fundamental analysis, we form a fund that is well-diversified across 95-140 companies, with the goal of achieving superior long-term performance results while managing volatility and risk.

Disclosures:

Diversification does not ensure a profit or guarantee against loss. Small cap investing involves greater risk not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity and increased competitive threat. Value stocks may remain undervalued for extended periods of time and the market may not recognize the intrinsic value of these securities.

You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund's prospectus contains this and other information about the Fund, and should be read and considered carefully before investing. You may obtain a current copy of the Fund's prospectus by calling 1-800-247-1014 or by visiting www.dremancontrarianfunds.com. Past performance is no guarantee of future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The fund is distributed by Unified Financial Securities, Inc., 2960 North Meridian Street, Suite 300, Indianapolis, IN 46208. Member FINRA

Average Annual Total Returns & Expense Ratio(%) as of 9/30/2014
Ticker Share Class QTD 1 Year 3 Year 5 Year 10 Year Since Inception Inception Date Expenses (Gross) Expenses (Net)
DRSVX Class R -6.70% 10.57% 21.66% 12.49% 10.12% 10.73% 12/31/03 1.57% 1.29%
DRISX Class I -6.59% 10.80% 21.85% 12.74% 7.00% 8/22/07 1.32% 1.04%

Performance data does not reflect the deduction of the sales load or fee, and that, if reflected, the load or fee would reduce the performance quoted.

The Fund's performance quoted is past performance and does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-800-247-1014.

Gross expenses are the funds' total annual operating expenses and do not reflect any fee waivers or reimbursements such as management fees, 12b-1 fees and other expenses. The Advisor has contractually agreed to waive its management fee and/or reimburse certain operating expenses, but only to the extent necessary so that the Fund's net expenses, excluding brokerage fees and commissions, borrowing costs (such as (a) interest expense and (b) dividends on securities sold short), taxes, extraordinary expenses, 12b-1 fees (if applicable), and any indirect expenses (such as fees and expenses of acquired funds), do not exceed 1.00%. Each waiver or reimbursement of an expense by the Advisor is subject to repayment by the Fund within the three fiscal years following the fiscal year in which the expense was incurred, provided that the Fund is able to make the repayment without exceeding the expense limitation. The contractual agreement is in effect through February 28, 2015. The expense cap may not be terminated prior to this date except by the Board of Trustees.

©2014 Morningstar, Inc. All Right Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.