AlphaTrak 500 Fund – Overview

Objective
The AlphaTrak 500 Fund seeks to achieve a total return that exceeds the total return of the S&P 500 Index.

Description
The AlphaTrak 500 Fund is an enhanced equity index fund that combines non-leveraged investments in the S&P 500 with a fixed income portfolio. The portfolio duration is up to three years and the dollar-weighted average maturity ranges from one- to five-years. Under normal market conditions, the Fund will invest in S&P 500 index futures contracts and swaps with a contractual or "notional" value substantially equal to the Fund's total assets.

The Fund normally invests at least 85% of assets in fixed-income securities rated investment grade or higher. The Fund is not designed for investors that are sensitive to taxable gains. Investments may include bonds, notes, collateralized bond obligations, collateralized debt obligations, mortgage-related and asset-backed securities, bank loans, money-market securities, swaps, futures, options, credit default swaps, private placements, defaulted debt securities and restricted securities.  These investments may have interest rates that are fixed, variable or floating. The Fund invests in the U.S. and abroad, including emerging markets.

Tad Rivelle Joined MetWest: 1996 Education: Yale (B.S.), USC (M.S.), UCLA (M.B.A.)	Steve Kane, CFA Joined MetWest: 1996 Education: UC, Berkeley (B.S.), University of Chicago (M.B.A.)