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Performance Information Performance Information Performance Information Performance Information Performance Information Performance Information <table style="BORDER-RIGHT:medium none; BORDER-TOP:medium none; MARGIN:auto auto auto 5.4pt; BORDER-LEFT:medium none; BORDER-BOTTOM:medium none; BORDER-COLLAPSE:collapse" border="1" cellpadding="0" cellspacing="0"> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Best quarter:</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Worst quarter:</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 2nd 2009</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 4th 2008</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 12.13%</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> (14.85)%</td></tr></table>   This table compares the Funds average annual total returns for periods ended December 31, 2010 to those of the Russell 1000® Index and the Barclays Capital U.S. Aggregate Bond Index. Prior to January 1, 2006, a maximum sales charge of 5.00% was imposed. Sales charges are not reflected in the total return figures. The A Shares, which impose a maximum sales charge of 5.50%, were not in existence before May 1, 2011. Institutional Shares were not in existence before December 30, 2005. Performance information reflects the Funds Investor Shares for periods prior to December 29, 2005 and May 2, 2011 for the Institutional and A Shares, respectively. The A Shares began presenting performance linked to the Investor Shares in September of 2011. Unlike Institutional Shares, Investor and A Shares bear a 12b-1 fee of 0.25%. Investor and Institutional Shares are subject to a Shareholder Servicing Fee of 0.25%, whereas the Shareholder Servicing Fee for A Shares is 0.10%. As indicated in the table, A Shares are also subject to a sales charge (Load). Each of these differences is reflected in the performance information. Accordingly, had the Institutional and A Shares of the Fund been offered for periods before December 30, 2005 and May 2, 2011, respectively, the performance information would have been different as a result of lower annual operating expenses. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal marginal income and capital gains tax rates. Returns after taxes on distributions assume a continued investment in the Fund and show the effect of taxes on Fund distributions. Returns after taxes on distributions and sales of Fund shares assume all shares were redeemed at the end of each measurement period and show the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on Fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA or 401(k) plans. The Russell 1000® Index is presented to show how the Funds performance compares to an index of equity funds, while the Barclays Capital U.S. Aggregate Bond Index shows how the Funds performance compares to an index of  bond funds. <table style="BORDER-RIGHT:medium none; BORDER-TOP:medium none; MARGIN:auto auto auto 5.4pt; BORDER-LEFT:medium none; BORDER-BOTTOM:medium none; BORDER-COLLAPSE:collapse" border="1" cellpadding="0" cellspacing="0"> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Best quarter:</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Worst quarter:</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 2nd 2009</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 4th 2008</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 6.26%</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> (12.47)%</td></tr></table>   This table compares the Funds average annual total returns for periods ended December 31, 2010 to those of the BofA Merrill Lynch 1-5 Year U.S. Corporate/Government Index. Prior to January 1, 2006, a maximum sales charge of 2.00% was imposed. Sales charges are not reflected in the total return figures. The A Shares were not in existence before May 1, 2011. Institutional Shares were not in existence before December 30, 2005. Performance information reflects the Funds Investor Shares for periods prior to December 29, 2005 and May 2, 2011 for the Institutional and A Shares, respectively. The A Shares began presenting performance linked to the Investor Shares in September of 2011. Unlike Institutional Shares, Investor and A Shares bear a 12b-1 fee of 0.25%. Investor and Institutional Shares are subject to a Shareholder Servicing Fee of 0.25%, whereas the Shareholder Servicing Fee for A Shares is 0.10%. As indicated in the table, A Shares are also subject to a sales charge (Load). Each of these differences is reflected in the performance information. Accordingly, had the Institutional and A Shares of the Fund been offered for periods before December 30, 2005 and May 2, 2011, respectively, the performance information would have been different as a result of lower annual operating expenses. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal marginal income and capital gains tax rates. Returns after taxes on distributions assume a continued investment in the Fund and show the effect of taxes on Fund distributions. Returns after taxes on distributions and sales of Fund shares assume all shares were redeemed at the end of each measurement period and show the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on Fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA or 401(k) plans. <table style="BORDER-RIGHT:medium none; BORDER-TOP:medium none; MARGIN:auto auto auto 5.4pt; BORDER-LEFT:medium none; BORDER-BOTTOM:medium none; BORDER-COLLAPSE:collapse" border="1" cellpadding="0" cellspacing="0"> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Best quarter:</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Worst quarter:</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 2nd 2009</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 4th 2008</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 16.83%</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> (23.25)%</td></tr></table>   This table compares the Funds average annual total returns for periods ended December 31, 2010 to those of the Russell 1000® Index. Prior to January 1, 2006, a maximum sales charge of 5.00% was imposed. Sales charges are not reflected in the total return figures. The A Shares, which impose a maximum sales charge of 5.50%, were not in existence before May 1, 2011. Institutional Shares were not in existence before December 30, 2005. Performance information reflects the Funds Investor Shares for periods prior to December 29, 2005 and May 2, 2011 for the Institutional and A Shares, respectively. The A Shares began presenting performance linked to the Investor Shares in September of 2011. Unlike Institutional Shares, Investor and A Shares bear a 12b-1 fee of 0.25%. Investor and Institutional Shares are subject to a Shareholder Servicing Fee of 0.25%, whereas the Shareholder Servicing Fee for A Shares is 0.10%. As indicated in the table, A Shares are also subject to a sales charge (Load). Each of these differences is reflected in the performance information. Accordingly, had the Institutional and A Shares of the Fund been offered for periods prior to December 30, 2005 and May 2, 2011, respectively, the performance information would have been different as a result of lower annual operating expenses. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal marginal income and capital gains tax rates. Returns after taxes on distributions assume a continued investment in the Fund and show the effect of taxes on Fund distributions. Returns after taxes on distributions and sales of Fund shares assume all shares were redeemed at the end of each measurement period and show the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on Fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA or 401(k) plans. <table style="BORDER-RIGHT:medium none; BORDER-TOP:medium none; MARGIN:auto auto auto 5.4pt; BORDER-LEFT:medium none; BORDER-BOTTOM:medium none; BORDER-COLLAPSE:collapse" border="1" cellpadding="0" cellspacing="0"> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Best quarter:</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Worst quarter:</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 1st 2001</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 2nd 2010</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 1.20%</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 0.00%</td></tr></table>   This table shows the Funds average annual total returns for periods ended December 31, 2010. The performance of the Administrative Class Shares before January 2, 2007 is based on the performance of the retail shares of the Fund. The Fund was reorganized on January 2, 2007, when the Institutional U.S. Treasury Fund transferred all of its assets and liabilities to the Fund. Service and Institutional Class Shares commenced operations on January 2, 2007. The performance shown for periods prior to January 2, 2007 is that of the retail shares of the Fund.  The Select and Premier Class Shares have not commenced operations as of the date of this prospectus. The performance shown is that of the Administrative Class Shares. In each case when predecessor information is used performance has not been adjusted to reflect the differences in fees and other expenses between classes. The shares would have substantially similar performance because shares are invested in the same portfolio of securities and the performance would have differed only to the extent that the classes have different expenses. <table width="253" style="WIDTH:189.9pt; BORDER-COLLAPSE:collapse" cellpadding="0" cellspacing="0"> <tr> <td width="127" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:95.4pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Best quarter:</td> <td width="126" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:94.5pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Worst quarter:</td></tr> <tr> <td width="127" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:95.4pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 3rd 2009</td> <td width="126" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:94.5pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 4th 2008</td></tr> <tr> <td width="127" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:95.4pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 6.55%</td> <td width="126" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:94.5pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> (6.50)%</td></tr></table>   This table compares the Funds average annual total returns for periods ended December 31, 2010 to those of the Barclays Capital U.S. Aggregate Bond Index. Prior to January 1, 2006, a maximum sales charge of 3.00% was imposed. Sales charges are not reflected in the total return figures. The A Shares, which impose a maximum sales charge of 3.75%, were not in existence before May 1, 2011. Institutional Shares were not in existence before December 30, 2005. Performance information reflects the Funds Investor Shares for periods prior to December 29, 2005 and May 2, 2011 for the Institutional and A Shares, respectively. The A Shares began presenting performance linked to the Investor Shares in September of 2011. Unlike Institutional Shares, Investor and A Shares bear a 12b-1 fee of 0.25%. Investor and Institutional Shares are subject to a Shareholder Servicing Fee of 0.25%, whereas the Shareholder Servicing Fee for A Shares is 0.10%. As indicated in the table, A Shares are also subject to a sales charge (Load). Each of these differences is reflected in the performance information. Accordingly, had the Institutional and A Shares of the Fund been offered for periods before December 30, 2005 and May 2, 2011, respectively, the performance information would have been different as a result of lower annual operating expenses. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal marginal income and capital gains tax rates. Returns after taxes on distributions assume a continued investment in the Fund and show the effect of taxes on Fund distributions. Returns after taxes on distributions and sales of Fund shares assume all shares were redeemed at the end of each measurement period and show the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on Fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA or 401(k) plans. <table style="BORDER-RIGHT:medium none; BORDER-TOP:medium none; MARGIN:auto auto auto 5.4pt; BORDER-LEFT:medium none; BORDER-BOTTOM:medium none; BORDER-COLLAPSE:collapse" border="1" cellpadding="0" cellspacing="0"> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Best quarter:</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Worst quarter:</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 1st 2001</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 2nd 2010</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 1.29%</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 0.00%</td></tr></table>   This table shows the Funds average annual total returns for periods ended December 31, 2010. The performance of the Administrative Class before January 2, 2007 is based on the performance of the retail shares of the Fund. The Fund was reorganized on January 2, 2007, when the Institutional Cash Management Fund transferred all of its assets and liabilities to the Fund.  Service and Institutional Class Shares commenced operations on January 2, 2007. The performance shown for periods prior to January 2, 2007 is that of the retail shares of the Fund.  The Select and Premier Class Shares have not commenced operations as of the date of this prospectus. The performance shown is that of the Administrative Class Shares. In each case when predecessor information is used performance has not been adjusted to reflect the differences in fees and other expenses between classes. The shares would have substantially similar performance because shares are invested in the same portfolio of securities and the performance would have differed only to the extent that the classes have different expenses. <table style="BORDER-RIGHT:medium none; BORDER-TOP:medium none; MARGIN:auto auto auto 5.4pt; BORDER-LEFT:medium none; BORDER-BOTTOM:medium none; BORDER-COLLAPSE:collapse" border="1" cellpadding="0" cellspacing="0"> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Best quarter:</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Worst quarter:</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 2nd 2007</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 3rd 2010</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 0.89%</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 0.03%</td></tr></table>   This table shows the Funds average annual total returns for periods ended December 31, 2010. Administrative, Service and Institutional Class Shares commenced operations on January 2, 2007.  The performance shown for periods before January 2, 2007 is that of the Select Class Shares, which commenced operations on April 11, 2005. The Premier Class Shares have not commenced operations as of the date of this prospectus. In each case when predecessor information is used performance has not been adjusted to reflect the differences in fees and other expenses between classes. The shares would have substantially similar performance because shares are invested in the same portfolio of securities and the performance would have differed only to the extent that the classes have different expenses.   <table style="BORDER-RIGHT:medium none; BORDER-TOP:medium none; MARGIN:auto auto auto 5.4pt; BORDER-LEFT:medium none; BORDER-BOTTOM:medium none; BORDER-COLLAPSE:collapse" border="1" cellpadding="0" cellspacing="0"> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Best quarter:</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Worst quarter:</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 3rd 2009</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 4th 2008</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 6.12%</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> (10.13)%</td></tr></table>   This table compares the Funds average annual total returns for periods ended December 31, 2010 to those of the Barclays Capital U.S. Intermediate Aggregate Bond Index. Prior to January 1, 2006, a maximum sales charge of 2.50% was imposed. Sales charges are not reflected in the total return figures. The A Shares, which impose a maximum sales charge of 3.75%, were not in existence before May 1, 2011. Institutional Shares were not in existence before December 30, 2005. Performance information reflects the Funds Investor Shares for periods prior to December 29, 2005 and May 2, 2011 for the Institutional and A Shares, respectively. The A Shares began presenting performance linked to the Investor Shares in September of 2011. Unlike Institutional Shares, Investor and A Shares bear a 12b-1 fee of 0.25%. Investor and Institutional Shares are subJect to a Shareholder Servicing Fee of 0.25%, whereas the Shareholder Servicing Fee for A Shares is 0.10%. As indicated in the table, A Shares are also subject to a sales charge (Load). Each of these differences is reflected in the performance information. Accordingly, had the Institutional and A Shares of the Fund been offered for periods before December 30, 2005 and May 2, 2011, respectively, the performance information would have been different as a result of lower annual operating expenses. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal marginal income and capital gains tax rates. Returns after taxes on distributions assume a continued investment in the Fund and show the effect of taxes on Fund distributions. Returns after taxes on distributions and sales of Fund shares assume all shares were redeemed at the end of each measurement period and show the effect of any taxable gain (or offsetting loss) on redemption, as well as the effects of taxes on Fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. Actual after tax returns depend on an investors tax situation and may differ from those shown. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such as IRA or 401(k) plans. <table style="BORDER-RIGHT:medium none; BORDER-TOP:medium none; MARGIN:auto auto auto 5.4pt; BORDER-LEFT:medium none; BORDER-BOTTOM:medium none; BORDER-COLLAPSE:collapse" border="1" cellpadding="0" cellspacing="0"> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Best quarter:</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:windowtext 1pt solid; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> Worst quarter:</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 3rd 2009</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 4th 2010</td></tr> <tr> <td width="107" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:80pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> 4.87%</td> <td width="124" style="BORDER-RIGHT:#ece9d8; PADDING-RIGHT:5.4pt; BORDER-TOP:#ece9d8; PADDING-LEFT:5.4pt; PADDING-BOTTOM:0in; BORDER-LEFT:#ece9d8; WIDTH:92.7pt; PADDING-TOP:0in; BORDER-BOTTOM:windowtext 1pt solid; BACKGROUND-COLOR:transparent" valign="top"> (3.78)%</td></tr></table>   This table compares the Funds average annual total returns for periods ended December 31, 2010 to those of the Barclays Capital U.S. Municipal Bond Index. Prior to January 1, 2006, a maximum sales charge of 2.50% was imposed. Sales charges are not reflected in the total return figures. The A Shares, which impose a maximum sales charge of 3.75%, were not in existence before May 1, 2011. Institutional Shares were not in existence before December 30, 2005. Performance information reflects the Funds Investor Shares for periods prior to December 29, 2005 and May 2, 2011 for the Institutional and A Shares, respectively. The A Shares began presenting performance linked to the Investor Shares in September of 2011. Unlike Institutional Shares, Investor and A Shares bear a 12b-1 fee of 0.25%. Investor and Institutional Shares are subject to a Shareholder Servicing Fee of 0.25%, whereas the Shareholder Servicing Fee for A Shares is 0.10%. As indicated in the table, A Shares are also subject to a sales charge (Load). Each of these differences is reflected in the performance information. Accordingly, had the Institutional and A Shares of the Fund been offered for periods before December 30, 2005 and May 2, 2011, respectively, the performance information would have been different as a result of lower annual operating expenses. After-tax returns are calculated using a standard set of assumptions. The stated returns assume the highest historical federal marginal income and capital gains tax rates. Returns after taxes on distributions assume a continued investment in the Fund and show the effect of taxes on Fund distributions. Returns after taxes on distributions and sales of Funds shares assume all shares were redeemed at the end of each measurement period and show the effect of any taxable gain (or offsetting loss) on redemptions, as well as the effect of taxes on Fund distributions. These after-tax returns do not reflect the effect of any applicable state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns are not relevant to investors holding shares through tax-deferred programs, such IRA or 401(k) plans. [1] The performance information shown above is based on a calendar year. The Funds total return from 1/1/11 to 9/30/11 was (3.54)%.   [1] The performance information shown above is based on a calendar year. The Funds total return from 1/1/11 to 9/30/11 was 2.85%.   [1] The performance information shown above is based on a calendar year. The Funds total return from 1/1/11 to 9/30/11 was (14.71)%.   [1]  The performance information shown above is based on a calendar year. The Funds total return from 1/1/11 to 9/30/11 was 0.01%.   [1] The performance information shown above is based on a calendar year. The Funds total return from 1/1/11 to 9/30/11 was 6.86%.   [1] The performance information shown above is based on a calendar year. The Funds total return from 1/1/11 to 9/30/11 was 0.01%.   [1] The performance information shown above is based on a calendar year. The Funds total return from 1/1/11 to 9/30/11 was 0.05%.   [1] The performance information shown above is based on a calendar year. The Funds total return from 1/1/11 to 9/30/11 was 5.78%.   [1] The performance information shown above is based on a calendar year. The Funds total return from 1/1/11 to 9/30/11 was 7.42%.   -0.0354 0.0285 -0.1471 0.0001 0.0686 0.0001 0.0005 0.0686 0.0742 2011-09-30 2011-09-30 2011-09-30 2011-09-30 2011-09-30 2011-09-30 2011-09-30 2011-09-30 2011-09-30 0000864508 0.0039 0.0039 0.0039 0.0042 0.0042 0.0042 0.0039 0.0039 0.0039 0.0022 0.0022 0.0022 0.0022 0.0022 0.0047 0.0047 0.0047 0.0022 0.0022 0.0022 0.0022 0.0022 0.0022 0.0022 0.0022 0.0022 0.0022 0.0055 0.0055 0.0055 0.0041 0.0041 0.0041 0.0036 0.0036 0.0036 0.0025 0.0000 0.0025 0.0025 0.0000 0.0025 0.0025 0.0000 0.0025 0.0000 0.0025 0.0025 0.0000 0.0050 0.0025 0.0000 0.0025 0.0025 0.0025 0.0050 0.0025 0.0025 0.0000 0.0000 0.0050 0.0025 0.0000 0.0025 0.0025 0.0000 0.0025 0.0025 0.0025 0.0000 2011-12-31 2012-01-20 2011-12-31 Other Fees and Expenses of the Fund Fees and Expenses of the Fund Fees and Expenses of the Fund Fees and Expenses Fees and Expenses of the Fund Fees and Expenses Fees and Expenses Fees and Expenses of the Fund Fees and Expenses of the Fund Fees and Expenses of the Fund Example Example Example Example Example Example Example Example Example Example This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be:   This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that each year your investment has a 5% return and Fund expenses remain the same. Although your actual costs and returns may be different, your approximate costs of investing $10,000 in the Fund would be: <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000008937Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000008938Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000008939Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000008941Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000008942Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000008943Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000008946Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000008948Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000008949Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExampleNoRedemption column dei_LegalEntityAxis compact chf_S000033655Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000008937Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000008938Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000008939Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000008941Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000008942Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000008943Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000008946Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000008948Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000008949Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ExpenseExample column dei_LegalEntityAxis compact chf_S000033655Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 95 69 640 75 49 323 97 72 642 29 72 41 20 26 84 58 455 29 58 41 20 26 68 38 17 25 22 91 66 463 77 52 450 731 217 167 1914 1638 2215 1704 1422 1760 1835 1557 2139 742 1057 1029 734 1285 1752 1471 1912 742 1045 1029 734 1285 1051 1023 728 735 1279 1841 1563 1999 1685 1402 1847 454 376 949 394 316 603 439 361 935 164 261 231 156 269 411 333 740 164 248 231 156 269 257 227 152 160 265 436 358 764 392 314 722 1151 691 591 838 706 1281 737 603 905 805 673 1250 312 466 436 304 533 762 629 1046 312 453 436 304 533 461 432 299 307 528 804 672 1087 730 597 1015 This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for a lower shareholder fee depending upon the amount that you invest.  More information is available from your financial professional and in the section Initial Sales Charge (Bond and Equity Funds, Class A Only) in the prospectus and in the section Additional Purchase and Redemption Information of the statement of additional information. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for a lower shareholder fee depending upon the amount that you invest.  More information is available from your financial professional and in the section Initial Sales Charge (Bond and Equity Funds, Class A Only) in the prospectus and in the section Additional Purchase and Redemption Information of the statement of additional information. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for a lower shareholder fee depending upon the amount that you invest.  More information is available from your financial professional and in the section Initial Sales Charge (Bond and Equity Funds, Class A Only) in the prospectus and in the section Additional Purchase and Redemption Information of the statement of additional information. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for a lower shareholder fee depending upon the amount that you invest.  More information is available from your financial professional and in the section Initial Sales Charge (Bond and Equity Funds, Class A Only) in the prospectus and in the section Additional Purchase and Redemption Information of the statement of additional information. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for a lower shareholder fee depending upon the amount that you invest.  More information is available from your financial professional and in the section Initial Sales Charge (Bond and Equity Funds, Class A Only) in the prospectus and in the section Additional Purchase and Redemption Information of the statement of additional information. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for a lower shareholder fee depending upon the amount that you invest.  More information is available from your financial professional and in the section Initial Sales Charge (Bond and Equity Funds, Class A Only) in the prospectus and in the section Additional Purchase and Redemption Information of the statement of additional information. This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for a lower shareholder fee depending upon the amount that you invest. More information is available from your financial professional and in the section Initial Sales Charge (Bond and Equity Funds, Class A Only) in the prospectus and in the section Additional Purchase and Redemption Information of the statement of additional information. 0.1213 0.0285 0.1683 0.0120 0.0655 0.0129 0.0089 0.0612 0.0487 2009-06-30 2009-06-30 2009-06-30 2001-03-31 2009-09-30 2001-03-31 2007-06-30 2009-09-30 2009-09-30 Best quarter: Best quarter: Best quarter: Best quarter: Best quarter: Best quarter: Best quarter: Best quarter: Best quarter: -0.0074 -0.0074 -0.0059 -0.0075 -0.0075 -0.0060 -0.0064 -0.0064 -0.0049 -0.0034 -0.0017 -0.0047 -0.0042 -0.0087 -0.0070 -0.0070 -0.0055 -0.0034 -0.0030 -0.0047 -0.0042 -0.0087 -0.0020 -0.0050 -0.0045 -0.0037 -0.0090 -0.0070 -0.0070 -0.0055 -0.0070 -0.0070 -0.0055 -0.0020 -0.0010 -0.0035 -0.1485 -0.1247 -0.2325 0.00 -0.0650 0.00 0.0003 -0.1013 -0.0378 2008-12-31 2008-12-31 2008-12-31 2010-06-30 2008-12-31 2010-06-30 2010-09-30 2008-12-31 2010-12-31 Worst quarter: Worst quarter: Worst quarter: Worst quarter: Worst quarter: Worst quarter: Worst quarter: Worst quarter: Worst quarter: 0.0074 0.0074 0.0074 0.0055 0.0055 0.0055 0.0069 0.0069 0.0069 0.0015 0.0015 0.0015 0.0015 0.0015 0.0055 0.0055 0.0055 0.0015 0.0015 0.0015 0.0015 0.0015 0.0015 0.0015 0.0015 0.0015 0.0015 0.0055 0.0055 0.0055 0.0055 0.0055 0.0055 0.0135 0.0135 0.0135 <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000008937Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000008938Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000008939Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000008941Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000008942Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000008943Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000008946Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000008948Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000008949Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/MarketIndexPerformanceData column dei_LegalEntityAxis compact chf_S000033655Member row primary compact * row rr_PerformanceMeasureAxis compact * ~</div> 0 0 0.0100 0 0 0.0100 0 0 0.0100 0 0 0.0100 0 0 0.0100 0 0 0.0100 0.0100 0 0 0 0 0.0550 0 0 0.0250 0 0 0.0550 0 0 0.0375 0 0 0.0375 0 0 0.0375 0.0550 0 0 0.0001 0.0001 0.0001 0.0001 0.0002 0.0001 0.0001 0.0001 0.00 0.0005 The 7-day yield for the period ended 12/31/10 was 0.01% for Administrative Shares; 0.01% for Service Shares; and 0.01% for Institutional Shares. The Select Shares and the Premier Shares have not commenced operations as of the date of this prospectus.   You may obtain the most current yield information for the Fund by calling (800) 762-7085. The 7-day yield for the period ended 12/31/10 was 0.01% for Administrative Shares; 0.01% for Service Shares; and 0.02% for Institutional Shares. The Select Shares and the Premier Shares have not commenced operations as of the date of this prospectus.   You may obtain the most current yield information for the Fund by calling (800) 762-7085. The 7-day yield for the period ended 12/31/10 was 0.01% for Administrative Shares; 0.00% for Service Shares; 0.05% for Institutional Shares; and 0.13% for Select Shares. The Premier Shares have not commenced operations as of the date of this prospectus.   You may obtain the most current yield information for the Fund by calling (800) 762-7085. (800) 762-7085 (800) 762-7085 (800) 762-7085 Yield Yield Yield Investment Objective Investment Objective Investment Objective Investment Objective Investment Objective Investment Objective Investment Objective Investment Objective Investment Objective Investment Objective Sales charges are not reflected in the total return figures. Sales charges are not reflected in the total return figures. Sales charges are not reflected in the total return figures. Sales charges are not reflected in the total return figures. Sales charges are not reflected in the total return figures. Sales charges are not reflected in the total return figures. secondarily to seek capital appreciation.  secondarily, income. To seek capital appreciation and income. Primarily to seek income and To seek growth of capital and, To seek current income with liquidity and stability of principal. To seek total return. To seek current income with liquidity and stability of principal. To seek high current income exempt from federal income tax. To seek total return. To seek current income, consistent with the preservation of capital, that is exempt from federal income taxes. Opportunistically investing to generate positive investment returns. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment). 0.0064 0.0064 0.0049 0.0067 0.0067 0.0052 0.0064 0.0064 0.0049 0.0047 0.0047 0.0047 0.0047 0.0047 0.0072 0.0072 0.0057 0.0047 0.0047 0.0047 0.0047 0.0047 0.0047 0.0047 0.0047 0.0047 0.0047 0.0080 0.0080 0.0065 0.0066 0.0066 0.0051 0.0046 0.0061 0.0061 <div style="display:none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact chf_S000008937Member row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact chf_S000008938Member row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact chf_S000008939Member row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact chf_S000008941Member row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact chf_S000008942Member row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact chf_S000008943Member row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact chf_S000008946Member row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact chf_S000008948Member row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/PerformanceTableData column dei_LegalEntityAxis compact chf_S000008949Member row primary compact * ~</div> 1-800-762-7085 1-800-762-7085 1-800-762-7085 1-800-762-7085 1-800-762-7085 1-800-762-7085 1-800-762-7085 1-800-762-7085 1-800-762-7085 1-800-762-7085 www.cavanalhillfunds.com www.cavanalhillfunds.com www.cavanalhillfunds.com www.cavanalhillfunds.com www.cavanalhillfunds.com www.cavanalhillfunds.com www.cavanalhillfunds.com www.cavanalhillfunds.com www.cavanalhillfunds.com www. cavanalhillfunds.com The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5 and 10 years compare with those of a broad measure of market performance. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. Updated performance information may be obtained on the Funds website www.cavanalhillfunds.com or by calling 1-800-762-7085. This bar chart shows changes in the Funds performance from year to year1. The returns for A Shares and Institutional Shares will differ from the returns for Investor Shares (which are shown in the bar chart) because of differences in the expenses of each class. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. Updated performance information may be obtained on the Funds website www.cavanalhillfunds.com or by calling 1-800-762-7085. This bar chart shows changes in the Funds performance from year to year1. The returns for A Shares and Institutional Shares will differ from the returns for Investor Shares (which are shown in the bar chart) because of differences in the expenses of each class. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns 1, 5 and 10 years compare with those of a broad measure of market performance. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. Updated performance information may be obtained on the Funds website www.cavanalhillfunds.com or by calling 1-800-762-7085. This bar chart shows changes in the Funds performance from year to year1. The returns for A Shares and Institutional Shares will differ from the returns for Investor Shares (which are shown in the bar chart) because of differences in the expenses of each class. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Administrative Share Class by showing changes in the Funds performance from year to year and by showing the Funds average annual returns for 1, 5 and 10 years. The Funds past performance does not necessarily indicate how the Fund will perform in the future. Updated performance information may be obtained on the Funds website www.cavanalhillfunds.com or by calling 1-800-762-7085. This bar chart shows changes in the Funds performance from year to year1. The returns for Service, Institutional, Select and Premier Shares will differ from the returns for Administrative Shares (which are shown in the bar chart) because of differences in the expenses of each class. The performance of the Administrative Class Shares before January 2, 2007 is based on the performance of the retail shares of the Fund. The Fund was reorganized on January 2, 2007 when the Institutional U.S. Treasury Fund transferred all of its assets and liabilities to the Fund. The expenses of the retail shares of the Fund were substantially similar to those of the Administrative Class Shares of the Fund. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5 and 10 years compare with those of a broad measure of market performance. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. Updated performance information may be obtained on the Funds website www.cavanalhillfunds.com or by calling 1-800-762-7085. This bar chart shows changes in the Funds performance from year to year1. The returns for A Shares and Institutional Shares will differ from the returns for Investor Shares (which are shown in the bar chart) because of differences in the expenses of each class. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Administrative Share Class by showing changes in the Funds performance from year to year and by showing the Funds average annual returns for 1, 5 and 10 years. The Funds past performance does not necessarily indicate how the Fund will perform in the future. Updated performance information may be obtained on the Funds website www.cavanalhillfunds.com or by calling 1-800-762-7085. This bar chart shows changes in the Funds performance from year to year1. The returns for Service, Institutional, Select and Premier Shares will differ from the returns for Administrative Shares (which are shown in the bar chart) because of differences in the expenses of each class. The performance of the Administrative Class Shares before January 2, 2007 is based on the performance of the retail shares of the Fund. The Fund was reorganized on January 2, 2007 when the Institutional Cash Management Fund transferred all of its assets and liabilities to the Fund. The expenses of the retail shares of the Fund were substantially similar to those of the Administrative Class Shares of the Fund. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Select Share Class by showing changes in the Funds performance from year to year and by showing the Funds average annual returns for 1 and 5 years, and since inception. The Funds past performance does not necessarily indicate how the Fund will perform in the future. Updated performance information may be obtained on the Funds website www.cavanalhillfunds.com or by calling 1-800-762-7085. This bar chart shows changes in the Funds performance from year to year1. The returns for Administrative, Service, Institutional and Premier Shares will differ from the returns for Select Shares (which are shown in the bar chart) because of differences in the expenses of each class. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5 and 10 years compare with those of a broad measure of market performance. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future.  Updated performance information may be obtained on the Funds website www.cavanalhillfunds.com or by calling 1-800-762-7085. This bar chart shows changes in the Funds performance from year to year1. The returns for A Shares and Institutional Shares will differ from the returns for Investor Shares (which are shown in the bar chart) because of differences in the expenses of each class. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5 and 10 years compare with those of a broad measure of market performance. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. Updated performance information may be obtained on the Funds website www.cavanalhillfunds.com or by calling 1-800-762-7085. This bar chart shows changes in the Funds performance from year to year1. The returns for A Shares and Institutional Shares will differ from the returns for Investor Shares (which are shown in the bar chart) because of differences in the expenses of each class. Because it has not yet completed a full calendar year of operations, no performance information is presented for the Fund at this time. In the future, performance information will be presented in this section of the prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information may be obtained on the Funds website www. cavanalhillfunds.com or by calling 1-800-762-7085.  Please also see the section titled Historical Performance of Similar Accounts Managed by the Portfolio Manager in Appendix A in the prospectus.  The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5 and 10 years compare with those of a broad measure of market performance. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5, and 10 years compare with those of a broad measure of market performance. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns 1, 5 and 10 years compare with those of a broad measure of market performance. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Administrative Share Class by showing changes in the Funds performance from year to year and by showing the Funds average annual returns for 1, 5 and 10 years. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5 and 10 years compare with those of a broad measure of market performance. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Administrative Share Class by showing changes in the Funds performance from year to year and by showing the Funds average annual returns for 1, 5 and 10 years. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Select Share Class by showing changes in the Funds performance from year to year and by showing the Funds average annual returns for 1 and 5 years, and since inception. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5 and 10 years compare with those of a broad measure of market performance. The bar chart and the performance table below illustrate some of the risks and return volatility of an investment in the Fund by showing changes in the Funds performance from year to year and by showing how the Funds average annual returns for 1, 5 and 10 years compare with those of a broad measure of market performance. Because it has not yet completed a full calendar year of operations, no performance information is presented for the Fund at this time. In the future, performance information will be presented in this section of the prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. The Funds past performance does not necessarily indicate how the Fund will perform in the future. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. The Funds past performance does not necessarily indicate how the Fund will perform in the future. The Funds past performance does not necessarily indicate how the Fund will perform in the future. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future. The Funds past performance (before or after taxes) does not necessarily indicate how the Fund will perform in the future.  Yield The 7-day yield for the period ended 12/31/10 was 0.01% for Administrative Shares; 0.01% for Service Shares; and 0.01% for Institutional Shares. The Select Shares and the Premier Shares have not commenced operations as of the date of this prospectus.   You may obtain the most current yield information for the Fund by calling (800) 762-7085.  Yield The 7-day yield for the period ended 12/31/10 was 0.01% for Administrative Shares; 0.01% for Service Shares; and 0.02% for Institutional Shares. The Select Shares and the Premier Shares have not commenced operations as of the date of this prospectus.   You may obtain the most current yield information for the Fund by calling (800) 762-7085.  Yield The 7-day yield for the period ended 12/31/10 was 0.01% for Administrative Shares; 0.00% for Service Shares; 0.05% for Institutional Shares; and 0.13% for Select Shares. The Premier Shares have not commenced operations as of the date of this prospectus.   You may obtain the most current yield information for the Fund by calling (800) 762-7085. Average Annual Total Returns (Periods Ended 12/31/10) Average Annual Total Returns (Periods Ended 12/31/10) Average Annual Total Returns (Periods Ended 12/31/10) Average Annual Total Returns for Administrative, Service, Institutional, Select and Premier Shares and predecessors.  (Periods Ended 12/31/2010) Average Annual Total Returns (Periods Ended 12/31/10) Average Annual Total Returns for Administrative, Service, Institutional, Select and Premier Shares and predecessors. (Periods Ended 12/31/2010) Average Annual Total Returns for Administrative, Service, Institutional, Select and Premier Shares and predecessors. (Periods Ended 12/31/2010) Average Annual Total Returns (Periods Ended 12/31/10) Average Annual Total Returns (Periods Ended 12/31/10) Portfolio Turnover Portfolio Turnover Portfolio Turnover Portfolio Turnover Portfolio Turnover Portfolio Turnover Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 86% of the average value of its portfolio. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 36% of the average value of its portfolio. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 72% of the average value of its portfolio. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 36% of the average value of its portfolio. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 28% of the average value of its portfolio. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 11% of the average value of its portfolio. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Funds performance. 0.86 0.36 0.72 0.36 0.28 0.11 2011-12-31 Cavanal Hill Funds Principal Investment Risks Principal Investment Risks Principal Investment Risks Principal Investment Risks Principal Investment Risks Principal Investment Risks Principal Investment Risks Principal Investment Risks Principal Investment Risks Principal Investment Risks Loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, loss of money is a risk of investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, loss of money is a risk of investing in the Fund. Loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li> <div>Credit Risk Credit risk is the possibility that the issuer of a debt instrument will fail to repay interest and principal in a timely manner or a counterparty may be unable to fulfill an obligation to repurchase securities from the Fund, reducing the Funds return.</div></li> <li> <div>Foreign Investment Risk Higher transaction costs, delayed settlements, currency controls and adverse economic and political developments may affect foreign investments.</div></li> <li> <div>Interest Rate Risk The value of the Funds investments may decline due to an increase in interest rates. In general, the longer a securitys maturity, the greater the interest rate risk. The Funds yield may decrease due to a decline in interest rates.</div></li> <li> <div>Issuer Specific The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, earnings and sales trends, investor perceptions, financial leverage and reduced demand for the issuers goods or services.</div></li> <li> <div>Liquidity Risk Certain securities may be difficult or impossible to sell at the time and the price that would normally prevail in the market.</div></li> <li> <div>Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</div></li> <li> <div>Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably.</div></li> <li> <div>Mortgage Market Risk The mortgage market in the United States has experienced difficulties that may adversely affect the performance and market value of certain of the Funds mortgage-related investments. </div></li> <li> <div>Prepayment/Call Risk There is a chance that the repayment of an asset backed or mortgage backed obligation will occur sooner than expected. Call risk is the possibility that, during periods of falling interest rates, a bond issuer will call or repay its bond before the bonds maturity date.</div></li> <li> <div>Small Cap Risk Small cap companies may be more vulnerable to adverse business or economic developments. </div></li> <li> <div>Valuation Risk The risk associated with the assessment of appropriate pricing in a changing market where trading information may not be readily available.  </div></li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li> <div>Credit Risk Credit risk is the possibility that the issuer of a debt instrument will fail to repay interest and principal in a timely manner or a counterparty may be unable to fulfill an obligation to repurchase securities from the Fund, reducing the Funds return.  </div></li> <li> <div>Interest Rate Risk The value of the Funds investments may decline due to an increase in interest rates. In general, the longer a securitys maturity, the greater the interest rate risk. The Funds yield may decrease due to a decline in interest rates.</div></li> <li> <div> Liquidity Risk Certain securities may be difficult or impossible to sell at the time and the price that would normally prevail in the market.</div></li> <li> <div>Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</div></li> <li> <div>Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably.</div></li> <li> <div> Mortgage Market Risk The mortgage market in the United States has experienced difficulties that may adversely affect the performance and market value of certain of the Funds mortgage-related investments. </div></li> <li> <div>Prepayment/Call Risk There is a chance that the repayment of an asset backed or mortgage backed obligation will occur sooner than expected. Call risk is the possibility that, during periods of falling interest rates, a bond issuer will call or repay its bond before the bonds maturity date. </div></li> <li> <div>Valuation Risk The risk associated with the assessment of appropriate pricing in a changing market where trading information may not be readily available.   </div></li> <li> <div>Zero Coupon The market prices of securities structured as zero coupon or pay-in-kind securities are generally affected to a greater extent by interest rate changes.</div></li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li> <div>Issuer Specific The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, earnings and sales trends, investor perceptions, financial leverage and reduced demand for the issuers goods or services.</div></li> <li> <div>Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</div></li> <li> <div>Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably. </div></li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li> <div>Income Risk The Funds yield may decrease due to a decline in interest rates.</div></li> <li> <div>Interest Rate Risk The value of the Funds interest-bearing investments may decline due to an increase in interest rates. In general, the longer a securitys maturity, the greater the interest rate risk. The Funds yield may decrease due to a decline in interest rates.</div></li> <li> <div> Liquidity Risk Certain securities may be difficult or impossible to sell at the time and the price that would normally prevail in the market.</div></li> <li> <div> Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</div></li> <li> <div>Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably.</div></li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li> <div>Credit Risk Credit risk is the possibility that the issuer of a debt instrument will fail to repay interest and principal in a timely manner or a counterparty may be unable to fulfill an obligation to repurchase securities from the Fund, reducing the Funds return.</div></li> <li> <div>Interest Rate Risk The Funds investments may decline due to an increase in interest rates. In general, the longer a securitys maturity, the greater the interest rate risk. The Funds yield may decrease due to a decline in interest rates.</div></li> <li> <div>Liquidity Risk Certain securities may be difficult or impossible to sell at the time and the price that would normally prevail in the market.</div></li> <li> <div>Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</div></li> <li> <div>Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably.</div></li> <li> <div>Mortgage Market Risk The mortgage market in the United States has experienced difficulties that may adversely affect the performance and market value of certain of the Funds mortgage-related investments. </div></li> <li> <div>Regulatory Risk Change in laws or regulations may materially affect a security, business, sector or market. Regulatory risk also includes the risk associated with federal and state laws which may restrict the remedies that a lender has when a borrower defaults on loans.</div></li> <li> <div>Valuation Risk The risk associated with the assessment of appropriate pricing in a changing market where trading information may not be readily available.  </div></li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li> <div>Banking Risk To the extent that the Fund invests in securities issued by U.S. Banks, foreign banks and U.S. branches of foreign banks, the Funds performance will be susceptible to the risks associated with the financial services sector. </div></li> <li> <div>Credit Risk Credit risk is the possibility that the issuer of a debt instrument will fail to repay interest and principal in a timely manner or a counterparty may be unable to fulfill an obligation to repurchase securities from the Fund, reducing the Funds return.</div></li> <li> <div>Foreign Investment Risk Higher transaction costs, delayed settlements, currency controls and adverse economic and political developments may affect foreign investments. </div></li> <li> <div>Income Risk The Funds yield may decrease due to a decline in interest rates.</div></li> <li> <div>Interest Rate Risk The value of the Funds interest-bearing investments may decline due to an increase in interest rates. In general, the longer a securitys maturity, the greater the interest rate risk. The Funds yield may decrease due to a decline in interest rates.</div></li> <li> <div>Issuer Specific The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, earnings and sales trends, investor perceptions, financial leverage and reduced demand for the issuers goods or services.</div></li> <li> <div>Liquidity Risk Certain securities may be difficult or impossible to sell at the time and the price that would normally prevail in the market. </div></li> <li> <div>Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</div></li> <li> <div>Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably.</div></li> <li> <div>Regulatory Risk Change in laws or regulations may materially affect a security, business, sector or market. Regulatory risk also includes the risk associated with federal and state laws which may restrict the remedies that a lender has when a borrower defaults on loans.</div></li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li> <div>Credit Enhancement Risk A credit enhancer, such as a letter of credit, may decline in quality and lead to a decrease in the value of the Funds investments.</div></li> <li> <div>Credit Risk Credit risk is the possibility that the issuer of a debt instrument will fail to repay interest and principal in a timely manner or a counterparty may be unable to fulfill an obligation to repurchase securities from the Fund, reducing the Funds return.</div></li> <li> <div>Interest Rate Risk The value of the Funds interest-bearing investments may decline due to an increase in interest rates. In general, the longer a securitys maturity, the greater the interest rate risk. The Funds yield may decrease due to a decline in interest rate.</div></li> <li> <div>Issuer Specific The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, earnings and sales trends, investor perceptions, financial leverage and reduced demand for the issuers goods or services.</div></li> <li> <div>Liquidity Risk Certain securities may be difficult or impossible to sell at the time and the price that would normally prevail in the market.</div></li> <li> <div> Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</div></li> <li> <div>Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably.</div></li> <li> <div>Tax Risk The issuer of securities may fail to comply with certain requirements of the Internal Revenue Code, which could cause adverse tax consequences. Also, the use of investment practices that seek to minimize tax consequences may lead to investment decisions that do not maximize the returns on an after-tax basis. Economic developments or unforeseeable investor redemptions may also reduce returns without any corresponding increase in tax efficiency. </div></li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li>Banking Risk To the extent that the Fund invests in securities issued by U.S. Banks, foreign banks and U.S. branches of foreign banks, the Funds performance will be susceptible to the risks associated with the financial services sector. </li> <li>Credit Risk Credit risk is the possibility that the issuer of a debt instrument will fail to repay interest and principal in a timely manner or a counterparty may be unable to fulfill an obligation to repurchase securities from the Fund, reducing the Funds return.</li> <li> Derivative Risk The risk of investing in derivative instruments, including liquidity, interest rate, market, credit and management risks, mispricing or improper valuation.  Changes in the value of derivative may not correlate perfectly with the underlying asset, rate or index, and the Fund could lose more than the principal amount invested.</li> <li> Interest Rate Risk The value of the Funds investments may decline due to an increase in interest rates. In general, the longer a securitys maturity, the greater the interest rate risk. The Funds yield may decrease due to a decline in interest rates.</li> <li> <div>Liquidity Risk Certain securities may be difficult or impossible to sell at the time and the price that would normally prevail in the market.</div></li> <li> <div>Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</div></li> <li> <div> Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably.</div></li> <li> <div>Mortgage Market Risk The mortgage market in the United States has experienced difficulties that may adversely affect the performance and market value of certain of the Funds mortgage-related investments. </div></li> <li> <div>Prepayment/Call Risk There is a chance that the repayment of an asset backed or mortgage backed obligation will occur sooner than expected. Call risk is the possibility that, during periods of falling interest rates, a bond issuer will call or repay its bond before the bonds maturity date.</div></li> <li> <div>Valuation Risk The risk associated with the assessment of appropriate pricing in a changing market where trading information may not be readily available.</div></li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li> <div>Credit Enhancement Risk A credit enhancer, such as a letter of credit, may decline in quality and lead to a decrease in the value of the Funds investments.</div></li> <li> <div>Credit Risk Credit risk is the possibility that the issuer of a debt instrument will fail to repay interest and principal in a timely manner or a counterparty may be unable to fulfill an obligation to repurchase securities from the Fund, reducing the Funds return.  </div></li> <li> <div> Interest Rate Risk The value of the Funds investments may decline due to an increase in interest rates. In general, the longer a securitys maturity, the greater the interest rate risk. The Funds yield may decrease due to a decline in interest rates.</div></li> <li> <div> Issuer Specific The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, earnings and sales trends, investor perceptions, financial leverage and reduced demand for the issuers goods or services.</div></li> <li> <div>Liquidity Risk Certain securities may be difficult or impossible to sell at the time and the price that would normally prevail in the market. </div></li> <li> <div>Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</div></li> <li> <div>Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably.</div></li> <li> <div>Prepayment/Call Risk There is a chance that the repayment of an asset backed or mortgage backed obligation will occur sooner than expected. Call risk is the possibility that, during periods of falling interest rates, a bond issuer will call or repay its bond before the bonds maturity date.</div></li> <li> <div>Tax Risk The issuer of securities may fail to comply with certain requirements of the Internal Revenue Code, which could cause adverse tax consequences. Also, the use of investment practices that seek to minimize tax consequences may lead to investment decisions that do not maximize the returns on an after-tax basis. Economic developments or unforeseeable investor redemptions may also reduce returns without any corresponding increase in tax efficiency.</div></li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Loss of money is a risk of investing in the Fund. In addition, the principal risks of investing in the Fund, which could adversely affect the Funds net asset value, yield and total return are (in alphabetical order): <ul> <li>Credit Risk Credit risk is the possibility that the issuer of a debt instrument will fail to repay interest and principal in a timely manner or a counterparty may be unable to fulfill an obligation to repurchase securities from the Fund, reducing the Funds return.</li> <li>Income Risk The Funds yield may decrease due to a decline in interest rates.</li> <li>Issuer Specific Risk The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, earnings and sales trends, investor perceptions, financial leverage and reduced demand for the issuers goods or services.</li> <li>Leverage Risk The risk associated with securities or practices that multiply small index or market movements into large changes in value. Leverage is often associated with investments in derivatives, but also may be embedded directly in the characteristics of other securities.</li> <li>Limited Number of Holdings As a large percentage of a funds assets may be invested in a limited number of securities, each investment has a greater effect on a Funds overall performance and any change in the value of those securities could significantly affect the value of your investment in the fund.</li> <li>Liquidity Risk Certain securities may be difficult or impossible to sell at the time and the price that would normally prevail in the market.</li> <li>Management Risk There is no guarantee that the investment techniques and risk analyses used by the Funds portfolio managers will produce the desired results.</li> <li>Market Risk The market value of a security may move up and down, sometimes rapidly and unpredictably.</li> <li>Mid Cap Risk The risk that the stocks of mid-capitalization companies often have greater price volatility, lower trading volume, and less liquidity than the stocks of larger, more established companies.</li> <li>Small Cap Risk Small cap companies may be more vulnerable to adverse business or economic developments.</li></ul> To the extent that the Fund makes investments with additional risks, those risks could increase volatility or reduce performance. The Fund may trade securities actively, which could increase its transaction costs (thus lowering performance) and may increase the amount of taxes that you pay. For more information about these risks, please refer to the section titled Investment Practices and Risks in the Funds prospectus. An investment in the Fund is not a deposit of BOKF, N.A., or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, NA, or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. An investment in the Fund is not a deposit of BOKF, N.A., or any other bank, and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. <div>BALANCED FUND</div> <div>SHORT-TERM INCOME FUND</div> <div>U.S. LARGE CAP EQUITY FUND</div> <div>U.S.TREASURY FUND</div> <div>BOND FUND</div> <div>CASH MANAGEMENT FUND</div> <div>TAX-FREE MONEY MARKET FUND</div> <div>INTERMEDIATE BOND FUND</div> <div>INTERMEDIATE TAX-FREE BOND FUND</div> <div>OPPORTUNISTIC FUND</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/RiskReturnDetailData row dei_DocumentInformationDocumentAxis compact * row dei_LegalEntityAxis compact * row rr_ProspectusShareClassAxis compact * row rr_PerformanceMeasureAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_LegalEntityAxis compact chf_S000008937Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_LegalEntityAxis compact chf_S000008938Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_LegalEntityAxis compact chf_S000008939Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_LegalEntityAxis compact chf_S000008942Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_LegalEntityAxis compact chf_S000008948Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_LegalEntityAxis compact chf_S000008949Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://xbrl.sec.gov/rr/role/ShareholderFeesData column dei_LegalEntityAxis compact chf_S000033655Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment): None. Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment): None. Shareholder Fees (fees paid directly from your investment): None. Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment) Shareholder Fees (fees paid directly from your investment) 0.0025 0.0025 0.0010 0.0025 0.0025 0.0010 0.0025 0.0025 0.0010 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0010 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0025 0.0010 0.0025 0.0025 0.0010 0.0010 0.0025 0.0025 0.0171 0.0185 0.0198 0.0192 0.0198 Principal Investment Strategy Principal Investment Strategy Principal Investment Strategy Principal Investment Strategy Principal Investment Strategy Principal Investment Strategy Principal Investment Strategy Principal Investment Strategy Principal Investment Strategy Principal Investment Strategy To pursue its objective, the Fund normally invests between 50% and 75% of its total assets in equity securities and at least 25% of its assets in fixed income securities that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization, or of comparable quality, at the time of purchase. The equity portion of the Fund primarily consists of large capitalization, mid capitalization and small capitalization stocks. Large capitalization stocks include large U.S. companies with a market capitalization in excess of $7 billion. Mid capitalization stocks include U.S. companies with a market capitalization between $2 and $7 billion at the time of purchase. Small capitalization stocks include small U.S. companies having an average market capitalization below $2billion at the time of purchase. As its primary strategy, the portfolio management team of the Fund selects equity securities using a proprietary system that ranks stocks. Stocks are ranked using a large array of factors including but not limited to fundamental factors (i.e. valuation and growth) and technical factors (i.e. momentum, reversal and volatility) that have historically been linked to performance. Portfolio construction and risk management techniques are used to seek consistent, superior risk adjusted returns. The portfolio management team of the Fund may augment its primary strategy by utilizing additional strategies involving exchange-traded funds. The debt portion of the Fund primarily consists of bonds; notes, debentures and bills issued by U.S. corporations or the U.S. government, its agencies, or instrumentalities; mortgage-related securities; asset backed securities,  collateralized mortgage obligations and municipal bonds. The Fund seeks to maintain a dollar-weighted average portfolio maturity of three to twelve years for the debt portion of its portfolio. The Fund also invests in money market instruments. If the rating of a security is downgraded after purchase, the portfolio management team will determine whether it is in the best interests of the Funds shareholders to continue to hold the security. The portion of the Funds assets invested in equity and debt securities will vary in accordance with economic conditions, the level of stock prices, interest rates, and the risk associated with each investment. In addition to the securities described above, the Fund may invest in other equity and debt securities. For example, the Fund may invest in foreign securities, including emerging market securities. To pursue its objective, under normal circumstances, the Fund invests primarily in debt obligations such as bonds, notes and debentures, and bills issued by U.S. corporations or by the U.S. government, its agencies or instrumentalities, municipal securities, mortgage-related securities, asset-backed securities and collateralized mortgage obligations that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization, or of comparable quality, at the time of purchase. The Fund also invests in money market instruments. If the rating of a security is downgraded after purchase, the portfolio management team will determine whether it is in the best interest of the Funds shareholders to continue to hold the security. The Fund will seek to increase the value of your investment through a combination of income and capital gains.  In managing the portfolio, the portfolio management team searches for inefficiencies not only at the macro, or top down level, but also at the individual security level. In addition to the securities described above, the Fund may invest in other debt securities.  Under normal circumstances, the Fund invests at least 80% of its assets in securities with an average maturity of less than three years and maintains a dollar-weighted average maturity of its portfolio of three years or less. These policies will not be changed without at least 60 days prior notice to shareholders. In addition, the Fund normally invests at least 65% of its assets in interest-bearing bonds. To pursue its objective, under normal circumstances, the Fund invests at least 80% of its assets in equity securities of large U.S. companies. This policy will not be changed without at least 60 days prior notice to shareholders. Equity securities for purposes of this policy refers to common stocks and securities convertible into common stocks. The Fund invests at least 80% of its assets in a universe of equity securities of large U.S. companies having an average market capitalization in excess of $7 billion at the time of purchase. The portfolio management team of the Fund seeks to identify companies that possess the following fundamental characteristics: strong, sustainable earnings and revenue growth prospects, industry leadership with a competitive advantage, high levels of profitability and earnings quality, strong management teams, understandable business models and limited exposure to cyclical earnings. In pursuing the investment strategy, the portfolio management team seeks to enhance the after-tax returns to shareholders by employing various investment practices that are designed to reduce taxable distributions to shareholders. For example, the Fund may hold securities for a long enough period to avoid higher short-term capital gains taxes. The Fund will also attempt to offset capital gains from sales of securities by selling other securities at a loss. These practices are expected to reduce, but not eliminate, taxable distributions. To pursue its objective, under normal circumstances, the Fund invests at least 80% of its assets in U.S. Treasury Obligations, some or all of which may be subject to repurchase agreements. This policy will not be changed without at least 60 days prior notice to shareholders. The dollar-weighted average portfolio maturity of the Fund will not exceed 60 days and the dollar-weighted average portfolio life cannot exceed 120 days. To pursue its objective, the Fund invests, under normal market conditions, primarily in debt obligations such as bonds, notes and debentures, and bills issued by U.S. corporations or by the U.S. government, its agencies, or instrumentalities, municipal securities, mortgage-related securities, asset-backed securities and collateralized mortgage obligations that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization, or of comparable quality, at the time of purchase. The Fund also invests in money market instruments. Total return is defined as a percentage change, over a specified time period, in a mutual funds net asset value, with the ending net asset value adjusted to account for the reinvestment of all distributions of dividends and capital gains. If the rating of a security is downgraded after purchase, the portfolio management team will determine whether it is in the best interest of the Funds shareholders to continue to hold the security. The Fund will seek to increase the value of your investment through a combination of income and capital gains. The Fund will generally maintain a dollar-weighted average portfolio maturity of three to ten years. In managing the portfolio, the portfolio management team searches for inefficiencies not only at the macro, or top down level, but also at the individual security level. In addition to the securities described above, the Fund may invest in other debt securities. Under normal circumstances the Fund invests at least 80% of its assets in bonds. This policy will not be changed without at least 60 days prior notice to shareholders. To pursue its objective, under normal circumstances, the Fund invests primarily in high-quality instruments including obligations issued by the U.S. government or its agencies or instrumentalities, commercial paper, medium-term notes, certificates of deposit, time deposits and repurchase agreements. These obligations may be variable or floating rate instruments or variable rate master demand notes. To be considered high-quality, a security must be rated in one of the two highest credit quality categories for short-term securities, or, if unrated, determined to be of comparable quality. The dollar-weighted average portfolio maturity of the Fund will not exceed 60 days and the dollar-weighted average portfolio life cannot exceed 120 days. The Fund may, from time to time, concentrate its investments in certain securities issued by U.S. banks and U.S. branches of foreign banks. As a fundamental policy, the Fund, under normal circumstances, invests at least 80% of its assets in short-term municipal securities that provide income that is exempt from federal income tax and is not a tax preference item for purposes of the federal alternative minimum tax. Short-term municipal securities are debt obligations, such as bonds and notes, issued by or on behalf of states, territories and possessions of the United States, the District of Columbia and other political subdivisions, agencies, instrumentalities and authorities, which generally have remaining maturities of one year or less. Municipal securities purchased by the Fund may also include rated and unrated variable and floating rate tax-exempt notes which may have a stated maturity in excess of one year but which will be subject to a feature permitting the Fund to demand payment within a year. The Fund may also invest in the securities of money market mutual funds that invest primarily in obligations exempt from federal income tax. When selecting securities for the Funds portfolio, the portfolio manager first considers safety of principal and the quality of an investment. The portfolio manager then focuses on generating a high level of income. The portfolio manager generally evaluates investments based on interest rate sensitivity selecting those securities whose maturities fit the Funds interest rate sensitivity target and that the portfolio manager believes to be the best relative values. The dollar-weighted average portfolio maturity of the Fund will not exceed 60 days and the dollar-weighted average portfolio life cannot exceed 120 days. The Fund may invest in certain other short-term debt securities in addition to those described above. The Fund may invest up to 20% of its assets in obligations, the interest on which is either subject to federal income tax or treated as a preference item for purposes of the federal alternative minimum tax (Taxable Obligations). Taxable Obligations may include obligations issued or guaranteed by the U.S. government, its agencies or instrumentalities (some of which may be subject to repurchase agreements), certificates of deposit and bankers acceptances of selected banks, and commercial paper. The Fund will invest only in those municipal securities and other obligations that are considered by the portfolio manager to present minimal credit risks. In addition, investments will be limited to those obligations that, at the time of purchase, (i) possess one of the two highest short-term ratings from a nationally recognized statistical rating organization (NRSRO), in the case of single-rated securities, or (ii) possess one of the two highest short-term ratings by at least two NRSROs, in the case of multiple-rated securities; or (iii) do not possess a rating ( i.e., are unrated) but are determined by the portfolio manager to be of comparable quality to the rated instruments eligible for purchase by the Fund under the guidelines adopted by the Board of Trustees. To pursue its objective, the Fund invests, under normal market conditions, primarily in debt obligations such as bonds, notes and debentures, and bills issued by U.S. corporations or the U.S. government, its agencies, or instrumentalities, municipal securities, mortgage-related securities, asset-backed securities and collateralized mortgage obligations that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization, or of comparable quality, at the time of purchase. The Fund also invests in money market instruments. Total return is defined as a percentage change, over a specified time period, in a mutual funds net asset value, with the ending net asset value adjusted to account for the reinvestment of all distributions of dividends and capital gains. If the rating of a security is downgraded after purchase, the portfolio management team will determine whether it is in the best interest of the Funds shareholders to continue to hold the security. The Fund will seek to increase the value of your investment through a combination of income and capital gains. In managing the portfolio, the portfolio management team searches for inefficiencies not only at the macro, or top down level, but also at the individual security level. In addition to the securities described above, the Fund may invest in other debt securities. Under normal circumstances the Fund invests at least 80% of its assets in bonds and maintains the dollar-weighted average maturity of its portfolio between three and ten years. These policies will not be changed without at least 60 days prior notice to shareholders. To pursue its objective, under normal circumstances, the Fund invests at least 65% of its assets in municipal bonds and debentures that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization (NRSRO), or of comparable quality, at the time of purchase. As a matter of fundamental policy the Fund invests, under normal circumstances, at least 80% of its assets in municipal securities, the income from which is exempt from federal income tax. Additionally, the Fund will normally invest at least 80% of its assets in bonds which pay interest that is not subject to federal alternative minimum tax for shareholders who are individuals. The Fund invests in municipal securities which are within the three highest rating categories assigned by NRSRO, in the case of bonds; rated within the highest ratings category assigned by an NRSRO, in the case of notes; rated in the highest ratings category assigned by an NRSRO, in the case of tax-exempt commercial paper; or rated in the highest ratings category assigned by an NRSRO, in the case of variable rate demand obligations. The Fund will generally invest in two principal classifications of municipal securities: general obligation securities and revenue securities. The Fund also will utilize credit enhancers. The Fund also invests in money market instruments. If the rating of a security is downgraded after purchase, the portfolio management team will determine whether it is in the best interest of the Funds shareholders to continue to hold the security. The Fund, under normal circumstances, invests at least 80% of its assets in tax-free bonds and maintains a dollar-weighted average maturity between three to ten years. These policies will not be changed without at least 60 days prior notice to shareholders. In managing the portfolio, the portfolio management team uses a top down investment management approach focusing on actual or anticipated changes or trends in interest rates, the financial markets, or the economy. In addition to the securities described above, the Fund may invest in other debt securities. To pursue its objective, under normal circumstances, the Fund may trade frequently and may invest in a wide range of financial instruments, market sectors and asset classes in the U.S. and other markets. Investments may include any asset for which there is a liquid market. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund. The Fund may invest in equity securities of issuers of any market capitalization, including convertible, private placement/restricted, initial public offering (IPOs), emerging market securities, real estate investment trusts and master limited partnerships. It may hold all or a portion of its assets in U.S. Treasury Obligations, cash or short-term fixed income or money market securities. The Fund may also invest in pooled investment vehicles, including other registered investment companies and ETFs. The Fund may from time to time invest in fixed income securities of any credit quality and maturity, including those of defaulted/distressed issuers and bank loans. These securities can be rated below investment grade (i.e.,junk bonds) and thus rated below Baa3 by Moodys, BBB- by S&P or BBB- by Fitch Ratings Ltd. or unrated and securities in default. The Fund may buy securities that it believes are undervalued and may write options on securities that it believes are overvalued. The Fund may sell these securities and cover (buyback) options when it believes they have reached their target price or more compelling investments are available. To pursue its objective, under normal circumstances, the Fund invests at least 80% of its assets in U.S. Treasury Obligations, some or all of which may be subject to repurchase agreements. To pursue its objective, under normal circumstances, the Fund invests primarily in debt obligations such as bonds, notes and debentures, and bills issued by U.S. corporations or by the U.S. government, its agencies or instrumentalities, municipal securities, mortgage-related securities, asset-backed securities and collateralized mortgage obligations that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization, or of comparable quality, at the time of purchase. The Fund also invests in money market instruments. To pursue its objective, the Fund normally invests between 50% and 75% of its total assets in equity securities and at least 25% of its assets in fixed income securities that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization, or of comparable quality, at the time of purchase. To pursue its objective, under normal circumstances, the Fund invests at least 80% of its assets in equity securities of large U.S. companies. This policy will not be changed without at least 60 days prior notice to shareholders. Equity securities for purposes of this policy refers to common stocks and securities convertible into common stocks. To pursue its objective, the Fund invests, under normal market conditions, primarily in debt obligations such as bonds, notes and debentures, and bills issued by U.S. corporations or by the U.S. government, its agencies, or instrumentalities, municipal securities, mortgage-related securities, asset-backed securities and collateralized mortgage obligations that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization, or of comparable quality, at the time of purchase. The Fund also invests in money market instruments. To pursue its objective, under normal circumstances, the Fund invests primarily in high-quality instruments including obligations issued by the U.S. government or its agencies or instrumentalities, commercial paper, medium-term notes, certificates of deposit, time deposits and repurchase agreements. As a fundamental policy, the Fund, under normal circumstances, invests at least 80% of its assets in short-term municipal securities that provide income that is exempt from federal income tax and is not a tax preference item for purposes of the federal alternative minimum tax. Short-term municipal securities are debt obligations, such as bonds and notes, issued by or on behalf of states, territories and possessions of the United States, the District of Columbia and other political subdivisions, agencies, instrumentalities and authorities, which generally have remaining maturities of one year or less. Municipal securities purchased by the Fund may also include rated and unrated variable and floating rate tax-exempt notes which may have a stated maturity in excess of one year but which will be subject to a feature permitting the Fund to demand payment within a year. The Fund may also invest in the securities of money market mutual funds that invest primarily in obligations exempt from federal income tax. To pursue its objective, the Fund invests, under normal market conditions, primarily in debt obligations such as bonds, notes and debentures, and bills issued by U.S. corporations or the U.S. government, its agencies, or instrumentalities, municipal securities, mortgage-related securities, asset-backed securities and collateralized mortgage obligations that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization, or of comparable quality, at the time of purchase. The Fund also invests in money market instruments. To pursue its objective, under normal circumstances, the Fund invests at least 65% of its assets in municipal bonds and debentures that are rated within the three highest ratings categories assigned by a nationally recognized statistical ratings organization (NRSRO), or of comparable quality, at the time of purchase. As a matter of fundamental policy the Fund invests, under normal circumstances, at least 80% of its assets in municipal securities, the income from which is exempt from federal income tax. Additionally, the Fund will normally invest at least 80% of its assets in bonds which pay interest that is not subject to federal alternative minimum tax for shareholders who are individuals. The Fund invests in municipal securities which are within the three highest rating categories assigned by NRSRO, in the case of bonds; rated within the highest ratings category assigned by an NRSRO, in the case of notes; rated in the highest ratings category assigned by an NRSRO, in the case of tax-exempt commercial paper; or rated in the highest ratings category assigned by an NRSRO, in the case of variable rate demand obligations. To pursue its objective, under normal circumstances, the Fund may trade frequently and may invest in a wide range of financial instruments, market sectors and asset classes in the U.S. and other markets. Investments may include any asset for which there is a liquid market. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. <div style="display:inline;">(reflects no deduction for expenses, fees or taxes) </div> <div style="display:inline;">(reflects no deduction for expenses, fees or taxes) </div> <div style="display:inline;">(reflects no deduction for expenses, fees or taxes) </div> <div style="display:inline;">(reflects no deduction for expenses, fees or taxes) </div> <div style="display:inline;">(reflects no deduction for expenses, fees or taxes) </div> <div style="display:inline;">(reflects no deduction for expenses, fees or taxes) </div> 0.0167 0.0142 0.0152 0.0148 0.0123 0.0133 0.0159 0.0134 0.0144 0.0062 0.0087 0.0087 0.0062 0.0112 0.0152 0.0127 0.0137 0.0062 0.0087 0.0087 0.0062 0.0112 0.0087 0.0087 0.0062 0.0062 0.0112 0.0160 0.0135 0.0145 0.0146 0.0121 0.0131 0.0209 0.0224 0.0199 0.0093 0.0068 0.0093 0.0073 0.0048 0.0073 0.0095 0.0070 0.0095 0.0028 0.0070 0.0040 0.0020 0.0025 0.0082 0.0057 0.0082 0.0028 0.0057 0.0040 0.0020 0.0025 0.0067 0.0037 0.0017 0.0025 0.0022 0.0090 0.0065 0.0090 0.0076 0.0051 0.0076 0.0189 0.0214 0.0164 Year to Date Return Year to Date Return Year to Date Return Year to Date Return Year to Date Return Year to Date Return Year to Date Return Year to Date Return Year to Date Return The Adviser has contractually agreed to waive 0.10% of its Management Fees. The Administrator has contractually agreed to waive 0.07% of its Administration Fee. Affiliates of the Adviser have contractually agreed to waive all Shareholder Servicing Fees paid by Select Shares Premier Shares, 0.15% paid by Service Shares and 0.17% paid by Institutional Shares if you buy through such affiliates. The Distributor has contractually agreed to waive 0.45% of the Distribution/Service (12b-1) Fee paid by the Premier Class and 0.15% of such Fee paid by the Service Class. Contractual waivers are in place for the period through December 31, 2013 and may only be terminated or modified with the approval of the Fund's Board of Trustees. The Adviser has contractually agreed to waive 0.10% of its Management Fees. The Administrator has contractually agreed to waive 0.07% of its Administration Fee. Affiliates of the Adviser have contractually agreed to waive all Shareholder Servicing Fees paid by Select and Premier Shares, 0.15% paid by Service Shares and 0.17% paid by Institutional Shares if you buy through such affiliates. The Distributor has contractually agreed to waive 0.45% of the Distribution/Service (12b-1) Fee paid by the Premier Class and 0.15% of such Fee paid by the Service Class and 0.13% paid by the Administrative Class. Contractual waivers are in place for the period through December 31, 2013 and may only be terminated or modified with the approval of the Fund's Board of Trustees. The Adviser has contractually agreed to waive 0.10% of its Management Fees. The Administrator has contractually agreed to waive 0.10% of its Administration Fee. Affiliates of the Adviser have contractually agreed to waive all Shareholder Servicing Fees paid by Select and Premier Shares, 0.15% paid by Service Shares and 0.17% paid by Institutional Shares if you buy through such affiliates. The Distributor has contractually agreed to waive 0.45% of the Distribution/Service (12b-1) Fee paid by the Premier Class and 0.15% of such Fee paid by the Service Class. Contractual waivers are in place for the period through December 31, 2013 and may only be terminated or modified with the approval of the Fund's Board of Trustees. On shares purchased without an initial sales charge and redeemed within 12 months of purchase. The Adviser has contractually agreed to waive 0.40% of its Management Fees. The Administrator has contractually agreed to waive 0.10% of its Administrator Fees. Affiliates of the Adviser have contractually agreed to waive all Shareholder Servicing Fees if you buy through such affiliates. Contractual waivers are in place for the period through December 31, 2012 and may only be terminated or modified with the approval of the Fund's Board of Trustees. The Adviser has contractually agreed to waive 0.35% of its Management Fees. The Administrator has contractually agreed to waive 0.10% of its Administrator Fees. Affiliates of the Adviser have contractually agreed to waive all Shareholder Servicing Fees if you buy through such affiliates. Contractual waivers are in place for the period through December 31, 2012 and may only be terminated or modified with the approval of the Fund's Board of Trustees. The Adviser has contractually agreed to waive 0.29% of its Management Fees. The Administrator has contractually agreed to waive 0.10% of its Administrator Fees. Affiliates of the Adviser have contractually agreed to waive all Shareholder Servicing Fees if you buy through such affiliates. Contractual waivers are in place for the period through December 31, 2012 and may only be terminated or modified with the approval of the Fund's Board of Trustees. Other Expenses are based on estimated amount for the current fiscal year. The Adviser has contractually agreed to waive or assume certain expenses so that the common expenses (other than extraordinary expenses and Acquired Fund Fees and Expenses) for each Class do not exceed 1.64% plus class-specific fees until December 31, 2012. The Administrator has contractually agreed to waive 0.10% of its Administrator Fees. Contractual waiver of the Administration Fee is in place for the period through December 31, 2012 and may only be terminated or modified with the approval of the Fund's Board of Trustees. Affiliates of the Adviser have contractually agreed to waive all Shareholder Servicing Fees if you buy A Shares or Institutional Shares through such affiliates. The Adviser has contractually agreed to waive 0.39% of its Management Fees. The Administrator has contractually agreed to waive 0.10% of its Administrator Fees. Affiliates of the Adviser have contractually agreed to waive all Shareholder Servicing Fees if you buy through such affiliates. Contractual waivers are in place for the period through December 31, 2012 and may only be terminated or modified with the approval of the Fund's Board of Trustees.