The Fund’s Institutional share class returned -0.92% during
the quarter, compared with the average return of 0.66%
for the 210 funds in Lipper Absolute Return category†.Additionally, the Fund’s benchmarks, the S&P 500 Index1 and the HFRX Equity Hedge Index1, returned 1.70% and
1.79% during the period, respectively.
The Fund’s Institutional shares returned 1.19% in the third quarter. The Fund’s equity benchmark, the Russell 1000® Index1, returned 1.42%, while its fixed-income benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index1, returned 2.27%.