Jeffrey J. Unterreiner is the OPTIX Fund’s portfolio manager and has served in that capacity since February 28, 2002, first as co-manager and, since August 9, 2002, as sole manager.

His primary business experience during the past five years has been as a principal of the Trust’s former investment adviser and its distributor and as Trustee, Chairman and President of the Trust. Effective with the date hereof, he serves as President of the Fund’s Sub-Adviser and is a Vice President of the Trust, but is no longer a Trustee.

Mr. Unterreiner is a graduate of the University of Missouri—St. Louis, where he majored in Business Administration, and a veteran of over 15 years in the financial services industry. See the Statement of Additional Information for additional information about his compensation, other accounts he manages and his ownership of shares of the Fund.