Acuitas US Microcap Fund Institutional Shares Investor Shares Equity Risk Small and Micro Capitalization Company Risk Market Events Risk Multi-Manager Risk Management Risk Value Investment Risk Growth Company Risk Foreign Investments Risk Depositary Receipts Risk Initial Public Offering Risk REIT Risk Exchange Traded Funds Risk Publicly Traded Partnership Risk Preferred Stock Risk Convertible Securities Risk Rights and Warrants Risk Derivative Instruments Risk Sector Concentration Risk Indexed Securities and Derivatives Risk Futures Contracts Risk Russell Microcap® Index (reflects no deduction for fees, expenses or taxes) Russell 3000 Index (reflects no deduction for fees, expenses or taxes)