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Opportunistic Fund Commentary 2Q 2019

Opportunistic Fund Commentary

2Q 2019
The Fund’s Investor share class returned -0.08% during the quarter, compared with the average return of 1.25% for the 219 funds in Lipper Absolute Return category. Additionally, the Fund’s benchmarks, the S&P 500 Index1 and the HFRX Equity Hedge Index1, returned 4.30% and 0.08% during the period, respectively.
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World Energy Fund Commentary 2Q 2019

World Energy Fund Commentary

2Q 2019
The Fund’s Investor share class returned -5.98% during the quarter, compared with 4.30% and -1.32% for the Fund’s benchmarks, the S&P 500 Index1 and the MSCI World Energy Index1, respectively.
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Active Core Fund Commentary 2Q 2019

Active Core Fund Commentary

2Q 2019
The Fund’s Investor shares returned 2.93% in the second quarter. The Fund’s equity benchmark, the Russell 1000® Index1, returned 4.25%, while its fixed-income benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index1, returned 3.08%.
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Fixed Income Funds Commentary 2Q 2019

Fixed Income Funds Commentary

2Q 2019
This commentary addresses the Cavanal Hill Bond Fund, Moderate Duration Fund (formerly named the Intermediate Bond Fund), and Limited Duration Fund (formerly named the Short-Term Income Fund).
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Opportunistic Fund Commentary 1Q 2019

Opportunistic Fund Commentary

1Q 2019
The Fund’s Investor share class returned 10.86% during the quarter, compared with the average return of 3.80% for the 220 funds in Lipper Absolute Return category. Additionally, the Fund’s benchmarks, the S&P 500 Index1 and the HFRX Equity Hedge Index1, returned 13.65% and 5.95% during the period, respectively.
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World Energy Fund Commentary 1Q 2019

World Energy Fund Commentary

1Q 2019
The Fund’s Investor share class returned 13.05% during the quarter, compared with 13.65% and 14.69% for the Fund’s benchmarks, the S&P 500 Index1 and the MSCI World Energy Index1, respectively.
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