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IMPORTANT PERFORMANCE INFORMATION: The performance shown represents past performance. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Principal value and investment returns will fluctuate, and investors’ units, when redeemed, may be worth more or less than the original cost.
For performance data including the effects of sales charges, Class A shares reflect the maximum front-end sales charge of 3.50% and the Class B shares reflect the maximum deferred sales charge of 2.50%. Class C shares have no initial or deferred sales charge, but are subject to a distribution fee of 0.75%. The purchase of Class O shares is restricted, as disclosed in the PDS. The unaudited performance data shown is net of all fees and expenses, but does not reflect the annual $20 account maintenance fee which is applicable to certain accounts. Class B shares are no longer available for purchase. However, an account owner who is changing investment option(s) may transfer existing Class B shares of a portfolio to Class B shares of another portfolio. Estimated Expense Ratio includes, as applicable, estimated underlying fund expenses, the Manager’s service fee, CollegeInvest’s administration fee and an annual distribution fee. Actual underlying fund expenses borne by a Portfolio may be higher or lower than the estimate of such expenses used in calculating a Portfolio’s Estimated Expense Ratio. Please read the PDS for more information concerning fees and expenses.
Current 7-day yield represents net interest income generated by the investments for the past seven days and assumes that the same income is generated each week over a 365-day period. The 7-day yield more closely reflects current portfolio earnings than does total returns. The “with waiver” 7-day yield shown for the Cash Reserve Portfolio reflects the Program Manager’s voluntary waiver of all or a portion of its service fee and Collegelnvest’s waiver of all or a portion of its administration fee, as described above. Such waivers may be reduced or terminated at any time. Returns for the Cash Reserve Option would have been lower in the absence of such waivers.
Collegelnvest currently is electing to waive 0.04% of its 0.10% administration fee commencing September 1, 2011. While such waiver continues in effect, Collegelnvest will receive an administration fee at an annual rate of 0.06% of the average daily net assets in each Portfolio. Such waiver may be reduced or terminated at any time. Portfolio returns would have been lower in the absence of such waiver.
Net Asset Value (NAV): An investment option’s net asset value (“NAV”) per unit or unit price is calculated by dividing the value of its net assets by the total number of units outstanding. NAV per unit or unit price is based on the value of the Investment Option’s investments, including its holdings in underlying mutual funds. The NAV per share of each underlying mutual fund in which the Investment Options are invested normally is determined as of the close of regular trading on the NYSE.