0001534424-12-000379.txt : 20121221 0001534424-12-000379.hdr.sgml : 20121221 20121221152125 ACCESSION NUMBER: 0001534424-12-000379 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20121221 DATE AS OF CHANGE: 20121221 EFFECTIVENESS DATE: 20121221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DundeeWealth Funds CENTRAL INDEX KEY: 0001365151 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-135371 FILM NUMBER: 121281118 BUSINESS ADDRESS: STREET 1: 1160 WEST SWEDESFORD ROAD STREET 2: SUITE 140 CITY: BERWYN STATE: PA ZIP: 19312 BUSINESS PHONE: (610) 854-0900 MAIL ADDRESS: STREET 1: 1160 WEST SWEDESFORD ROAD STREET 2: SUITE 140 CITY: BERWYN STATE: PA ZIP: 19312 FORMER COMPANY: FORMER CONFORMED NAME: BHR Institutional Funds DATE OF NAME CHANGE: 20060605 0001365151 S000025038 Dynamic Gold & Precious Metals Fund C000074490 Class I Shares DWGOX C000074491 Class II Shares C000117583 Institutional Shares 0001365151 S000025040 Dynamic U.S. Growth Fund C000074494 Class I Shares DWUGX C000074495 Class II Shares C000117584 Institutional Shares 0001365151 S000025043 Dynamic Energy Income Fund C000074500 Class I Shares DWEIX C000074501 Class II Shares C000117585 Institutional Shares 0001365151 S000025044 Dynamic Global Growth Fund C000074502 Class I Shares DWGGX C000074503 Class II Shares C000117586 Institutional Shares 0001365151 S000025045 Dynamic World Growth Fund C000074504 Class II Shares C000074505 Class I Shares DWGNX C000117587 Institutional Shares 0001365151 S000025046 Dynamic Canadian Equity Income Fund C000074506 Class I Shares DWGIX C000074507 Class II Shares C000117588 Institutional Shares 0001365151 S000025048 Dynamic Contrarian Advantage Fund C000074510 Class I Shares DWGVX C000074511 Class II Shares C000117590 Institutional Shares 0001365151 S000025049 Dynamic Discovery Fund C000074512 Class I Shares DWGDX C000074513 Class II Shares C000117591 Institutional Shares 497 1 f12-2009.htm 497 FILING

 

These materials provide, in interactive data format using the Extensible Business Reporting Language, information relating to DundeeWealth Funds prospectuses dated December 1, 2012 that were filed with the with the Securities and Exchange Commission pursuant to Rule 497(c) under the Securities Act of 1933, as amended, on December 3, 2012 (SEC Accession No. 0001534424-12-000336).

 

 
 
 

 

 
 

 

EXHIBIT INDEX

 

Index No.

 

Description of Exhibit

 

 

 

EX-101.INS

 

XBRL Instance Document

EX-101.SCH

 

XBRL Taxonomy Extension Schema Document

EX-101.CAL

 

XBRL Taxonomy Extension Calculation Linkbase

EX-101.DEF

 

XBRL Taxonomy Extension Definition Linkbase

EX-101.LAB

 

XBRL Taxonomy Extension Labels Linkbase

EX-101.PRE

 

XBRL Taxonomy Extension Presentation Linkbase

 

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duwf DWEIX DWEJX DWEKX DWGGX DWGNX DWGIX DWGJX DWGKX DWGVX DWGWX DWGDX DWGEX DWGOX DWGPX DWGQX DWUGX DWUHX DWUIX 2012-12-03 2012-12-21 <font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font-weight: bold">Investment Objective: </font></font> <font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font-weight: bold">Investment Objective: </font></font> <font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font-weight: bold">Investment Objective: </font></font> <font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font-weight: bold">Investment Objective: </font></font> <font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font-weight: bold">Investment Objective: </font></font> <font style="display: inline; font: 10pt Times New Roman"><font style="display: inline; font-weight: bold">Investment Objective: </font></font> 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As a result, changes in the value of those currencies compared to the U.S. dollar may affect the value of the Fund&#146;s investments.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The small and mid capitalization companies and income trusts the Fund invests in may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, these small and mid cap companies may have limited product lines, markets and financial resources, and may depend upon a relatively small management group. Therefore, small and mid cap stocks may be more volatile than those of larger companies. These securities may be traded over-the-counter or listed on an exchange.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The Fund may also invest in emerging market countries. Developing countries may impose restrictions on the Fund&#146;s ability to repatriate investment income or capital. Even if there is no outright restriction on repatriation of investment income or capital, the mechanics of repatriation may affect certain aspects of the operations of the Fund. For example, funds may be withdrawn from the People&#146;s Republic of China only in U.S. or Hong Kong dollars and only at an exchange rate established by the government once each week.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Some of the currencies in emerging markets have experienced devaluations relative to the U.S. dollar, and major adjustments have been made periodically in certain of such currencies. 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Trading in debt obligations issued or guaranteed by such governments or their agencies and instrumentalities involves a high degree of risk.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">A principal risk of growth stocks is that investors expect growth companies to increase their earnings at a certain rate that is generally higher than the rate expected for non-growth companies. If a growth company does not meet these expectations, the price of its stock may decline significantly, even if it has increased earnings. Growth companies also typically do not pay dividends. 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REITs must satisfy specific requirements for favorable tax treatment and can involve unique risks in addition to the risks generally affecting the real estate industry. REITs are dependent upon the quality of their management, may have limited financial resources and heavy cash flow dependency, and may not be diversified geographically or by property type.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The risks of investing in MLPs are generally those involved in investing in a partnership as opposed to a corporation. Accordingly, there may be fewer protections afforded to investors in an MLP than investors in a corporation. However, MLP investors typically have no personal liability, similar to a corporation&#146;s shareholders. MLPs allow for pass-through income, meaning that they are not subject to corporate income taxes. Instead, owners of an MLP are personally responsible for paying taxes on their allocable portion of the MLP&#146;s income, gains, losses, and deductions whether or not they receive cash distributions. MLPs make distributions that are generally paid out on a quarterly basis. Some distributions received by the Fund with respect to its investments in MLPs may, if distributed by the Fund, be treated as a return of capital for federal income tax purposes because of accelerated deductions available with respect to the activities of such MLPs and the MLPs&#146; distribution policies. Investments in units of MLPs involve risks that differ from investments in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP, risks related to potential conflicts of interest between the MLP and the MLP&#146;s general partner, cash flow risks, dilution risks and risks related to the general partner&#146;s limited call right. 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The successful use of options depends in part on the ability of the Sub-Adviser to manage future price fluctuations and the degree of correlation between the options and securities (or currency) markets. The Fund may write covered call options on a security in order to collect the related premium on the call option and establish a sale price for the related security owned by the Fund that the Sub-Adviser believes to be attractive. By writing covered call options on equity securities, the Fund gives up the opportunity to benefit from potential increases in the value of the common stocks above the strike prices of the written covered call options, but continues to bear the risk of declines in the value of its common stock portfolio. The Fund may write put options on a security in order to collect the related premium on the put option and to acquire the related security at a price the Sub-Adviser believes to be attractive. The Fund bears the risk that the price of the security will fall significantly below the exercise price of the put option and the Fund will be required to acquire the related stock at a price that is less than attractive. The Fund will receive a premium from writing a covered call or put option that it retains whether or not the option is exercised. 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text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;">Fees and Expenses of the Fund:</b></div> <div><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></div> <div><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></div> <div><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></div> <div><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></div> <div><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></div> <div><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></div> <div><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></div> <div><b>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)</b></div> <p style="font: 10pt Times New Roman, Times, Serif"><b>Example:</b></p> <p style="font: 10pt Times New Roman, Times, Serif"><b>Example:</b></p> <p style="font: 10pt Times New Roman, Times, Serif"><b>Example:</b></p> <p style="font: 10pt Times New Roman, Times, Serif"><b>Example:</b></p> <p style="font: 10pt Times New Roman, Times, Serif"><b>Example:</b></p> <p style="font: 10pt Times New Roman, Times, Serif"><b>Example:</b></p> <p style="font: 10pt Times New Roman, Times, Serif"><b>Example:</b></p> <p style="font: 10pt Times New Roman, Times, Serif"><b>Example:</b></p> <p style="text-align: left; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</p> <p style="text-align: justify; text-indent: 0pt; margin: 0">&#160;</p> <p style="text-align: justify; text-indent: 0pt; margin: 0; font: 10pt Times New Roman, Times, Serif">The example assumes that you invest $1,000,000 in Institutional Shares of the Fund, $25,000 in Class I Shares of the Fund and $10,000 in Class II Shares of the Fund for the time periods indicated and that you sell your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund operating expenses remain the same. Although your actual costs and returns might be different, your approximate costs of investing $1,000,000 in Institutional Shares of the Fund, $25,000 in Class I Shares of the Fund and $10,000 in Class II Shares of the Fund would be:</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The example assumes that you invest $1,000,000 in Institutional Shares of the Fund, $25,000 in Class I Shares of the Fund and $10,000 in Class II Shares of the Fund for the time periods indicated and that you sell your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund operating expenses remain the same. Although your actual costs and returns might be different, your approximate costs of investing $1,000,000 in Institutional Shares of the Fund, $25,000 in Class I Shares of the Fund and $10,000 in Class II Shares of the Fund would be:</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The example assumes that you invest $1,000,000 in Institutional Shares of the Fund, $25,000 in Class I Shares of the Fund and $10,000 in Class II Shares of the Fund for the time periods indicated and that you sell your shares at the end of those periods. 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text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Before Taxes</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">After Taxes on Distributions</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">After Taxes on Distributions and Sale of Fund Shares</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Standard &#38; Poor&#146;s/Toronto Stock Exchange Equity Income Index**(reflects no deductions for fees, expenses or taxes)</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Standard &#38; Poor&#146;s/Toronto Stock Exchange Composite Index**(reflects no deductions for fees, expenses or taxes)</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Standard &#38; Poor&#146;s Global Infrastructure Index (reflects no deductions for fees, expenses or taxes)</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Morgan Stanley Capital International (MSCI) World Index (reflects no deductions for fees, expenses or taxes)</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Before Taxes</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">After Taxes on Distributions</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">After Taxes on Distributions and Sale of Fund Shares</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Morgan Stanley Capital International (MSCI) World Index (reflects no deductions for fees, expenses or taxes)</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Before Taxes</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">After Taxes on Distributions</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">After Taxes on Distributions and Sale of Fund Shares</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Morgan Stanley Capital International (MSCI) World Index (reflects no deductions for fees, expenses or taxes)</p> Before Taxes After Taxes on Distributions <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">After Taxes on Distributions and Sale of Fund Shares</p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Standard &#38; Poor&#146;s/Toronto Stock Exchange Global Gold Index (reflects no deductions for fees, expenses or taxes)</p> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: left"><font style="display: inline; font: 10pt times new roman">Before Taxes</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: left"><font style="display: inline; font: 10pt times new roman">After Taxes on Distributions</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: left"><font style="display: inline; font: 10pt times new roman">After Taxes on Distributions and Sale of Fund Shares</font></div> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">Russell 1000&#174; Growth Index (reflects no deductions for fees, expenses or taxes)</p> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: left"><font style="display: inline; font: 10pt times new roman">Before Taxes</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: left"><font style="display: inline; font: 10pt times new roman">After Taxes on Distributions</font></div> <div style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt; text-align: left"><font style="display: inline; font: 10pt times new roman">After Taxes on Distributions and Sale of Fund Shares</font></div> -0.1686 0.0063 0.0066 0.0114 0.0223 -0.1092 -0.0039 -0.0502 0.1097 0.0962 0.0884 -0.0502 -0.0676 -0.0833 -0.0229 -0.0502 -0.1226 -0.1471 -0.0469 -0.1569 -0.2968 -0.3255 -0.1912 0.0264 0.0461 0.0371 0.0303 0.0736 0.2001 0.1914 0.1719 0.2373 0.1780 0.1572 0.2055 0.1710 0.1624 0.1572 0.1051 0.0842 0.0858 0.1572 0.1202 0.0962 0.0977 0.0974 0.2541 0.2277 0.2064 0.2106 0.3401 0.3142 0.2810 2009-08-18 2009-08-18 2009-08-18 2009-08-18 2009-04-01 2009-04-01 2009-04-01 2009-04-01 2009-04-01 2009-04-01 2009-04-01 2009-04-02 2009-04-02 2009-04-02 2009-04-02 2009-04-02 2009-04-02 2009-04-02 2009-04-02 2009-04-01 2009-04-01 2009-04-01 2009-04-01 2009-04-01 2009-04-01 2009-04-01 2009-04-01 <div>year-to-date total return</div> <div>year-to-date total return</div> <div>year-to-date total return</div> <div>year-to-date total return</div> <div>year-to-date total return</div> <div>year-to-date total return</div> 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 -0.0060 0.1245 0.0944 0.0783 0.0861 0.1760 <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><b>Best Quarter</b></p> <div>Best Quarter</div> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><b>Best Quarter</b></p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><b>Best Quarter</b></p> <div>Best Quarter</div> <div>Best Quarter</div> 2010-12-31 2010-09-30 2010-12-31 2010-12-31 2010-09-30 2010-09-30 0.1405 0.1092 0.1055 0.1325 0.2719 0.2236 <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><b>Worst Quarter</b></p> <div>Worst Quarter</div> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><b>Worst Quarter</b></p> <p style="text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><b>Worst Quarter</b></p> <div>Worst Quarter</div> <div>Worst Quarter</div> 2011-09-30 2010-06-30 2011-09-30 2011-09-30 2011-09-30 2011-09-30 -0.1456 -0.0618 -0.1155 -0.1454 -0.1669 -0.1650 0.0002 0.0002 0.0002 0.2312 0.1122 0.1046 0.1873 0.7342 0.5067 0.0063 0.1097 -0.0676 -0.1226 -0.2968 0.0461 <div style="font: 12pt Times New Roman, Times, Serif"><b>DYNAMIC ENERGY INCOME FUND</b></div> <div style="font: 12pt Times New Roman, Times, Serif"><b>DYNAMIC GLOBAL GROWTH FUND</b></div> <div style="font: 12pt Times New Roman, Times, Serif"><b>DYNAMIC WORLD GROWTH FUND</b></div> <div style="font: 12pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-right: 0; margin-left: 0"><b>DYNAMIC CANADIAN EQUITY INCOME FUND</b></div> <div style="font: 12pt Times New Roman, Times, Serif"><b>DYNAMIC CONTRARIAN ADVANTAGE FUND</b></div> <div style="font: 12pt Times New Roman, Times, Serif"><b>DYNAMIC DISCOVERY FUND</b></div> <div style="font: 12pt Times New Roman, Times, Serif"><b>DYNAMIC GOLD &#38; PRECIOUS METALS FUND</b></div> <div style="margin: 0pt"><b>DYNAMIC U.S. GROWTH FUND</b></div> 0.7892 0.2989 0.7755 0.6326 0.7556 3.2354 <p>The Fund invests, under normal market conditions, at least 80% of its assets in equity securities of energy and utility companies.</p> <p>The Fund invests in a portfolio consisting of equity securities of U.S. and foreign companies chosen according to a growth oriented investment approach.</p> <p>The Fund represents an actively traded portfolio of equity securities of businesses located in the U.S. and around the world chosen according to a growth investment approach.</p> <p>The Fund invests, under normal market conditions, at least 80% of its assets in the equity securities of companies located in Canada.</p> <p>The Fund invests in a broadly diversified portfolio consisting of equity securities of U.S. and foreign companies chosen using a value oriented investment approach.</p> <p style="font: 10pt Times New Roman, Times, Serif">The Fund will invest primarily in equity securities of U.S. and foreign companies. The Fund may invest the majority of its assets in equity securities of U.S., Canadian and other foreign small capitalization companies.</p> <p>The Fund invests, under normal market conditions, at least 80% of its assets in securities of companies which are engaged primarily in activities related to gold and various precious metals, including exploration, mining, development, fabrication, processing or distribution, in instruments that derive their value from the value of precious metals and in gold, silver, platinum and palladium in the form of bullion, coins and storage receipts.</p> <p>The Fund invests, under normal market conditions, at least 80% of its assets in equity securities of U.S. companies chosen according to a growth oriented investment approach.</p> <p>You could lose all or some of your investment in the Fund.</p> <p>You could lose all or some of your investment in the Fund.</p> <p>You could lose all or some of your investment in the Fund.</p> <p>You could lose all or some of your investment in the Fund.</p> <p>You could lose all or some of your investment in the Fund.</p> <p>You could lose all or some of your investment in the Fund.</p> <p>You could lose all or some of your investment in the Fund.</p> <p>You could lose all or some of your investment in the Fund.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The Fund is non-diversified and invests in a limited number of securities. Therefore, the Fund&#146;s investment performance may be more volatile, as it may be more susceptible to risks associated with a single economic, political, or regulatory event than a fund that invests in a greater number of issuers.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The Fund is non-diversified and invests in a limited number of securities. Therefore, the Fund&#146;s investment performance may be more volatile, as it may be more susceptible to risks associated with a single economic, political, or regulatory event than a fund that invests in a greater number of issuers.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The Fund is non-diversified and invests in a limited number of securities. Therefore, the Fund&#146;s investment performance may be more volatile, as it may be more susceptible to risks associated with a single economic, political, or regulatory event than a fund that invests in a greater number of issuers.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The Fund is non-diversified and invests in a limited number of securities. Therefore, the Fund&#146;s investment performance may be more volatile, as it may be more susceptible to risks associated with a single economic, political, or regulatory event than a fund that invests in a greater number of issuers.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The Fund is non-diversified and invests in a limited number of securities. Therefore, the Fund&#146;s investment performance may be more volatile, as it may be more susceptible to risks associated with a single economic, political, or regulatory event than a fund that invests in a greater number of issuers.</p> <p style="text-align: justify; text-indent: 0pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The Fund is non-diversified and invests in a limited number of securities. Therefore, the Fund&#146;s investment performance may be more volatile, as it may be more susceptible to risks associated with a single economic, political, or regulatory event than a fund that invests in a greater number of issuers.</p> <p>The bar chart and performance table below provide an indication of the risks of an investment in the Fund by showing the Fund&#146;s performance for each full calendar year since its inception and by showing how the Fund&#146;s average annual returns compare with those of a broad measure of market performance.</p> <p>The bar chart and performance table below provide an indication of the risks of an investment in the Fund by showing the Fund&#146;s performance for each full calendar year since its inception and by showing how the Fund&#146;s average annual returns compare with those of broad measures of market performance.</p> <p>The bar chart and performance table below provide an indication of the risks of an investment in the Fund by showing the Fund&#146;s performance for each full calendar year since its inception and by showing how the Fund&#146;s average annual returns compare with those of a broad measure of market performance.</p> <p>The bar chart and performance table below provide an indication of the risks of an investment in the Fund by showing the Fund&#146;s performance for each full calendar year since its inception and by showing how the Fund&#146;s average annual returns compare with those of a broad measure of market performance.</p> <p>The bar chart and performance table below provide an indication of the risks of an investment in the Fund by showing the Fund&#146;s performance for each full calendar year since its inception and by showing how the Fund&#146;s average annual returns compare with those of a broad measure of market performance.</p> <p>1-888-572-0968</p> <p>1-888-572-0968</p> <p>1-888-572-0968</p> <p>1-888-572-0968</p> <p>1-888-572-0968</p> <p>1-888-572-0968</p> <p style="font: 10pt Times New Roman, Times, Serif">1-888-572-0968</p> <p>www.dundeewealthus.com</p> <p>www.dundeewealthus.com</p> <p>www.dundeewealthus.com</p> <p>www.dundeewealthus.com</p> <p>www.dundeewealthus.com</p> <p>www.dundeewealthus.com</p> <p>www.dundeewealthus.com</p> <p>Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p>Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p>Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p>Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p>Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p>Past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p>reflects no deductions for fees, expenses or taxes</p> <p>reflects no deductions for fees, expenses or taxes</p> <p>reflects no deductions for fees, expenses or taxes</p> <p>reflects no deductions for fees, expenses or taxes</p> <p>reflects no deductions for fees, expenses or taxes</p> <p>reflects no deductions for fees, expenses or taxes.</p> <p>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</p> <p>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</p> <p>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</p> <p>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</p> <p>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</p> <p>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.</p> <p style="color: #000000; font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-transform: none; letter-spacing: normal; word-spacing: 0px; text-indent: 0px"><b>Average Annual Total Returns For the Periods Ended December 31, 2011</b></p> <p style="color: #000000; font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-transform: none; letter-spacing: normal; word-spacing: 0px; text-indent: 0px"><b>Average Annual Total Returns For the Periods Ended December 31, 2011</b></p> <p style="color: #000000; font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-transform: none; letter-spacing: normal; word-spacing: 0px; text-indent: 0px"><b>Average Annual Total Returns For the Periods Ended December 31, 2011</b></p> <p style="color: #000000; font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-transform: none; letter-spacing: normal; word-spacing: 0px; text-indent: 0px"><b>Average Annual Total Returns For the Periods Ended December 31, 2011</b></p> <p style="color: #000000; font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-transform: none; letter-spacing: normal; word-spacing: 0px; text-indent: 0px"><b>Average Annual Total Returns For the Periods Ended December 31, 2011</b></p> <p><b>Average Annual Total Returns</b><br style="clear: left" /> <b>For the Periods Ended December 31, 2011</b></p> <p>The bar chart and performance table have been omitted because the Fund had not commenced operations as of the date of this prospectus.</p> <p>The bar chart and performance table have been omitted because the Fund had not commenced operations as of the date of this prospectus.</p> <p>Actual after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (&#147;IRA&#148;).</p> <p>Actual after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (&#147;IRA&#148;).</p> <p>Actual after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (&#147;IRA&#148;).</p> <p>Actual after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (&#147;IRA&#148;).</p> <p>Actual after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (&#147;IRA&#148;).</p> <p>Actual after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (&#147;IRA&#148;).</p> 2012-12-01 false DundeeWealth Funds Other "Other Expenses" are estimated for the current fiscal year. The Adviser has contractually agreed to waive fees and reimburse expenses to the extent that Total Annual Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) exceed 1.05% for Institutional Shares, 1.15% for Class I Shares and 1.30% for Class II Shares until January 31, 2014. If it becomes unnecessary for the Adviser to waive fees or make reimbursements, the Adviser may recapture any of its prior waivers or reimbursements for a period not to exceed three years from the date on which the waiver or reimbursement was made to the extent that such a recapture does not cause the Total Annual Fund Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) to exceed the applicable expense limitation that was in effect at the time of the waiver or reimbursement. "Other Expenses" for Institutional Shares and Class II Shares, which had not commenced operations as of the date of this prospectus, are estimated based on Class I Shares for the current fiscal year. The Adviser has contractually agreed to waive fees and reimburse expenses to the extent that Total Annual Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) exceed 0.99% for Institutional Shares, 1.09% for Class I Shares and 1.24% for Class II Shares until January 31, 2014. If it becomes unnecessary for the Adviser to waive fees or make reimbursements, the Adviser may recapture any of its prior waivers or reimbursements for a period not to exceed three years from the date on which the waiver or reimbursement was made to the extent that such a recapture does not cause the Total Annual Fund Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) to exceed the applicable expense limitation that was in effect at the time of the waiver or reimbursement. While the Fund commenced operations on August 14, 2009, the Fund began investing consistent with its investment objective on August 18, 2009. On February 2, 2011, the Board of Trustees approved a change in benchmark for the Fund from the Standard & Poor's/Toronto Stock Exchange Capped Energy Trust Index ("Prior Index") to the Standard & Poor's/Toronto Stock Exchange Capped Energy Index. This change was made in light of the conversion of the income trust constituent holdings of the Prior Index to corporations and the anticipated discontinuation of the Prior Index on March 18, 2011. The Adviser has contractually agreed to waive fees and reimburse expenses to the extent that Total Annual Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) exceed 0.74% for Institutional Shares, 0.84% for Class I Shares and 0.99% for Class II Shares until January 31, 2014. If it becomes unnecessary for the Adviser to waive fees or make reimbursements, the Adviser may recapture any of its prior waivers or reimbursements for a period not to exceed three years from the date on which the waiver or reimbursement was made to the extent that such a recapture does not cause the Total Annual Fund Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) to exceed the applicable expense limitation that was in effect at the time of the waiver or reimbursement. The Adviser has contractually agreed to waive fees and reimburse expenses to the extent that Total Annual Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) exceed 1.15% for Institutional Shares, 1.25% for Class I Shares and 1.40% for Class II Shares until January 31, 2014. If it becomes unnecessary for the Adviser to waive fees or make reimbursements, the Adviser may recapture any of its prior waivers or reimbursements for a period not to exceed three years from the date on which the waiver or reimbursement was made to the extent that such a recapture does not cause the Total Annual Fund Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) to exceed the applicable expense limitation that was in effect at the time of the waiver or reimbursement. The Adviser has contractually agreed to waive fees and reimburse expenses to the extent that Total Annual Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) exceed 0.99% for Institutional Shares, 1.09% for Class I Shares and 1.24% for Class II Shares until January 31, 2014. If it becomes unnecessary for the Adviser to waive fees or make reimbursements, the Adviser may recapture any of its prior waivers or reimbursements for a period not to exceed three years from the date on which the waiver or reimbursement was made to the extent that such a recapture does not cause the Total Annual Fund Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) to exceed the applicable expense limitation that was in effect at the time of the waiver and reimbursement. While the Fund commenced operations on March 31, 2009, the Fund began investing consistent with its investment objective on April 1, 2009. While the Fund commenced operations on March 31, 2009, the Fund began investing consistent with its investment objective on April 2, 2009. While the Fund commenced operations on March 31, 2009, the Fund began investing consistent with its prior investment objective on April 1, 2009. Effective September 30, 2011, the Standard & Poor's/Toronto Stock Exchange Equity Income Index and Standard & Poor's/Toronto Stock Exchange Composite Index have replaced the Standard & Poor's Global Infrastructure Index and Morgan Stanley Capital International (MSCI) World Index as more appropriate benchmarks for the Fund. The Standard & Poor's/Toronto Stock Exchange Equity Income Index began its performance history on December 20, 2010. As such, performance results are not available for periods prior to that date. The Adviser has contractually agreed to waive fees and reimburse expenses to the extent that Total Annual Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) exceed 1.10% for Institutional Shares, 1.20% for Class I Shares and 1.35% for Class II Shares until January 31, 2014. If it becomes unnecessary for the Adviser to waive fees or make reimbursements, the Adviser may recapture any of its prior waivers or reimbursements for a period not to exceed three years from the date on which the waiver or reimbursement was made to the extent that such a recapture does not cause the Total Annual Fund Operating Expenses (excluding taxes, extraordinary expenses, brokerage commissions and interest) to exceed the applicable expense limitation that was in effect at the time of the waiver or reimbursement. Acquired Fund Fees and Expenses ("AFFE") represent the pro rata expenses indirectly incurred by the Fund as a result of investing in other mutual funds that have their own expenses. AFFE are not used to calculate the Fund's net asset value and do not correlate to the ratio of Expenses to Average Net Assets found in the "Financial Highlights" section of the Prospectus. EX-101.DEF 3 duwf-20120930_def.xml XBRL DEFINITION FILE