Nuance Concentrated Value Fund Institutional Class Shares CIK 0001511699 Series S000031968 Nuance Concentrated Value Fund Class/Contract C000099506 Institutional Class Shares NCVLX Class/Contract C000115524 Investor Class NCAVX Nuance Mid Cap Value Fund Institutional Class CIK 0001511699 Series S000043170 Nuance Mid Cap Value Fund Class/Contract C000133589 Institutional Class NMVLX Class/Contract C000133590 Investor Class NMAVX Class/Contract C000186164 Z Class Shares NMVZX Nuance Concentrated Value Fund Investor Class CIK 0001511699 Series S000031968 Nuance Concentrated Value Fund Class/Contract C000099506 Institutional Class Shares NCVLX Class/Contract C000115524 Investor Class NCAVX S&P 500 Index (reflects no deduction for fees, expenses or taxes) S&P 500 Index (reflects no deduction for fees, expenses or taxes) Currency Risk Member Currency Risk Member Mid-Cap Companies Risk Member Mid-Cap Companies Risk Member Nuance Mid Cap Value Fund Investor Class CIK 0001511699 Series S000043170 Nuance Mid Cap Value Fund Class/Contract C000133589 Institutional Class NMVLX Class/Contract C000133590 Investor Class NMAVX Class/Contract C000186164 Z Class Shares NMVZX Portfolio Turnover Risk Member Portfolio Turnover Risk Member Foreign Securities Risk Member Foreign Securities Risk Member Nuance Concentrated Value Fund CIK 0001511699 Series S000031968 Nuance Concentrated Value Fund Class/Contract C000099506 Institutional Class Shares NCVLX Class/Contract C000115524 Investor Class NCAVX Value-Style Investing Risk Member Value-Style Investing Risk Member Sector Emphasis Risk Member Sector Emphasis Risk Member Nuance Mid Cap Value Fund CIK 0001511699 Series S000043170 Nuance Mid Cap Value Fund Class/Contract C000133589 Institutional Class NMVLX Class/Contract C000133590 Investor Class NMAVX Class/Contract C000186164 Z Class Shares NMVZX General Market Risk Member General Market Risk Member Equity Securities Risk Member Equity Securities Risk Member Preferred Securities Risk Member Preferred Securities Risk Member Nuance Mid Cap Value Fund Z Class Shares CIK 0001511699 Series S000043170 Nuance Mid Cap Value Fund Class/Contract C000133589 Institutional Class NMVLX Class/Contract C000133590 Investor Class NMAVX Class/Contract C000186164 Z Class Shares NMVZX Management Risk Member Management Risk Member Russell Midcap Value Index (reflects no deduction for fees, expenses or taxes) Russell Midcap Value Index (reflects no deduction for fees, expenses or taxes) Convertible Securities Risk Member Convertible Securities Risk Member Large-Cap, Mid-Cap And Small-Cap Companies Risk Member Large-Cap, Mid-Cap And Small-Cap Companies Risk Member Russell 3000 Value Index (reflects no deduction for fees, expenses or taxes) Russell 3000 Value Index (reflects no deduction for fees, expenses or taxes)