Turner Core Growth Fund The Turner Core Growth Fund is a diversified large cap growth fund that invests primarily in common stocks and other equity securities of U.S. companies that Turner considers to have strong earnings growth potential. Generally, the Fund will invest in companies with a market capitalization of $2 billion or greater at time of purchase.  The number of holdings in the Fund will range between 60-80 stocks. TTMEX - Institutional Class  PDF Fund Information as of 12.31.09 (Includes Fund Fact Sheet, Quarterly Attribution & Commentary) TCGFX - Investor Class  PDF Fund Information as of 12.31.09 (Includes Fund Fact Sheet, Quarterly Attribution & Commentary) Profile | Top Holdings | Performance | Prospectus

Profile Investment Objective Seeks long-term capital appreciation. Investment Policy Turner Core Growth Fund invests in securities of companies that Turner believes are favorably priced in relation to their fundamental value and will likely appreciate over time. These securities may be traded over the counter or listed on an exchange. While the Fund typically invests in the common stocks of medium to large sized companies, it may invest in companies of any size or in any industry in order to achieve its objective. In selecting companies, Turner typically invests for the long term and chooses securities that it believes offer strong opportunities for long-term growth of capital. Turner generally considers selling a security when it reaches a target price, when it fails to perform as expected, or when other opportunities appear more attractive. These factors may cause Turner to engage in active trading of the Fund's portfolio securities in seeking to achieve the Fund's objective. Investment Process The Turner Core Growth Fund's investment process involves the use of three tools to evaluate stocks for investment or continued ownership: a proprietary computer model, used to screen candidates for investment according to numerous earnings-growth and valuation factors. fundamental analysis, used to ascertain if the companies we follow will exceed, meet, or fall short of consensus earnings expectations. technical analysis, used to evaluate trends in trading volume and prices of individual stocks. Altogether, stocks that rate favorably according to the three tools may be purchased. Conversely, stocks that rank unfavorably in those criteria either aren't purchased or, in the case of holdings, are sold. Inception Date Institutional Class - 2.28.01 Investor Class - 8.1.05 Composition   Asset Type Proportion   Equities 97.70%   Cash Equivalents 2.30% Ticker Symbol Institutional Class - TTMEX Investor Class - TCGFX Top Holdings as of January 31, 2010   Percentage of Portfolio Assets† APPLE INC 4.69 % CISCO SYSTEMS INC 3.60 % GOOGLE INC 3.60 % PEPSICO INC 2.98 % AMAZON.COM INC 2.81 % JP MORGAN CHASE & CO. 2.70 % QUALCOMM 2.56 % OCCIDENTAL PETROLEUM CORP 2.55 % GOLDMAN SACHS INC. 2.39 % WEATHERFORDINT LTD 2.13 % † Based on Market Value Complete Holdings These holdings are not recommendations and we may no longer hold these securities. Institutional Class Performance: As of 03/11/10 Net Asset Value: $ 10.78 Total Net Assets: $ 444,130,452 Growth of a $10,000 Investment Account value if you reinvested income and capital gains : $ 8753.49 Account Value if you took income and capital gains in cash : $ 8620.00 Assumes initial investment of $10,000 occurred on the fund's inception date. As of 12/31/09 Expense Ratio Information Description 1 Year Annualized 3 Years Annualized 5 Years Annualized Since Inception No Load 38.42% -4.58% 1.61% N/A Investor Class Performance: As of 03/11/10 Net Asset Value: $ 10.73 Total Net Assets: $ 333,085,093 Growth of a $10,000 Investment Account value if you reinvested income and capital gains : $ 8186.86 Account Value if you took income and capital gains in cash : $ 8109.64 Assumes initial investment of $10,000 occurred on the fund's inception date. As of 12/31/09 Expense Ratio Information Description 1 Year Annualized 3 Years Annualized 5 Years Annualized Since Inception No Load 38.19% -4.78% N/A N/A Risk Disclosure The performance data quoted represents past performance and the principal value and investment return will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown here. Please call 800.224.6312 or visit our website www.turnerinvestments.com for performance current to the most recent month end. Returns shown, unless otherwise indicated, are total returns, with dividends and income reinvested. Returns spanning more than one year are annualized. Fee waivers are in effect; if they had not been in effect performance would have been lower. Past performance can vary over short periods. Past performance is no guarantee of future results. Since it purchases equity securities, including common stocks, the Fund is subject to the risk that stock prices will fall over short or extended periods of time. Historically, the equity markets have moved in cycles, and the value of the Fund's securities may fluctuate drastically from day to day. Individual companies may report poor results or be negatively affected by industry and/or economic trends and developments, and the prices of these companies' securities may decline in response. These factors contribute to price volatility, which is the principal risk of investing in the Fund. In addition, common stocks represent a share of ownership in a company, and rank after bonds and preferred stock in their claim on the company's assets in the event of liquidation. The Fund is also subject to taxable income and realized capital gains. Shareholder redemptions may force the Fund to sell securities at an inappropriate time, also resulting in realized gains. The Fund may participate in initial public offerings ("IPOs"). Some successful IPOs may have a significant impact on the Fund's performance, especially if the Fund has lower asset levels. There is no guarantee that there will be successful IPOs, or that the Fund will have access to successful IPOs. In addition, as Fund assets grow, the positive impact of successful IPOs on Fund performance tends to decrease. The Fund may buy and sell securities frequently as part of its investment strategy. This may result in higher transaction costs and additional tax liabilities. The medium capitalization companies in which the Fund invests may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, these medium capitalization companies may have limited product lines, markets and financial resources, and may depend upon a relatively small management group. Therefore, medium capitalization stocks may be more volatile than those of larger companies.