Turner Funds Performance Summary

The Turner Funds offer a series of 12 no-load mutual funds to institutional and individual investors. Turner Investments and its affiliates serve as the investment adviser for the Turner Funds.

As of 05/21/12
Fund Market Cap Class	Daily NAV	Daily NAV Change
International/Global Growth Equity
Turner Global Opportunities Fund - Institutional Class (TGLBX)	12.57	0.28
Turner Global Opportunities Fund - Investor Class (TGLPX)	12.5	0.28
Turner International Growth Fund - Institutional Class (TICGX)	10.09	0.15
Turner International Growth Fund - Investor Class (TICFX)	10.04	0.16
Long/Short Equity
Turner Market Neutral Fund - Investor Class (TMNFX)	10.2	0.04
Turner Market Neutral Fund - Institutional Class (TMNEX)	10.23	0.03
Turner Market Neutral Fund - C Class (TMNCX)	10.1	0.03
Turner Medical Sciences Long/Short Fund - Investor Class (TMSFX)	10.12	0.01
Turner Medical Sciences Long/Short Fund - Institutional Class (TMSEX)	10.14	0
Turner Medical Sciences Long/Short Fund - C Class (TMSCX)	10.03	0.01
Turner Spectrum Fund - C Class (TSCCX)	10.72	0.03
Turner Spectrum Fund - Investor Class (TSPCX)	10.92	0.03
Turner Spectrum Fund - Institutional Class (TSPEX)	11.01	0.03
Turner Titan Fund - Investor Class (TTLFX)	10.2	0.06
Turner Titan Fund - Institutional Class (TTLEX)	10.22	0.06
Turner Titan Fund - C Class (TTLCX)	10.1	0.06
U.S. Growth Equity
Turner All Cap Growth Fund - Investor Class (TBTBX)	8.17	0.27
Turner Concentrated Growth Fund - Investor Class (TTOPX)	7.08	0.2
Turner Emerging Growth Fund - Investor Class (TMCGX)	52.63	1.22
Turner Emerging Growth Fund - Institutional Class (TMCOX)	53.07	1.23
Turner Large Growth Fund - Investor Class (TCGFX)	12.05	0.33
Turner Large Growth Fund - Institutional Class (TTMEX)	12.16	0.34
Turner Midcap Growth Fund - Institutional Class (TMGEX)	33.9	1.06
Turner Midcap Growth Fund - Investor Class (TMGFX)	33.58	1.05
Turner Midcap Growth Fund - Retirement Class (TMIIX)	31.89	1
Turner Small Cap Growth Fund - Investor Class (TSCEX)	33.26	1.01

As of 05/21/12
International/Global Growth Equity	NAV	Change in NAV	MTD	YTD	1-Year	3-Year	5-Year	10-Year	Inception Date
Turner Global Opportunities Fund (Institutional class)	$12.57	0.28	-8.71%	5.36%	-2.54%	N/A	N/A	N/A	5.07.10
Expense Ratios	Gross 3.64% Net 1.11%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 1.10% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Global Opportunities Fund (Investor class)	$12.50	0.28	-8.69%	5.31%	-2.75%	N/A	N/A	N/A	5.07.10
Expense Ratios	Gross 3.89% Net 1.36%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 1.35% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner International Growth Fund (Institutional class)	$10.09	0.15	-9.51%	2.02%	-8.68%	22.67%	2.03%	N/A	1.31.07
Expense Ratios	Gross 2.41% Net 1.10%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 1.10% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner International Growth Fund (Investor class)	$10.04	0.16	-9.47%	2.03%	-9.02%	22.39%	1.88%	N/A	11.01.08
Expense Ratios	Gross 2.46% Net 1.35%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 1.35% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Long/Short Equity	NAV	Change in NAV	MTD	YTD	1-Year	3-Year	5-Year	10-Year	Inception Date
Turner Market Neutral Fund (C class)	$10.10	0.03	-2.51%	-1.08%	0.06%	N/A	N/A	N/A	2.07.11
Expense Ratios	Gross 4.77% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Market Neutral Fund (Institutional class)	$10.23	0.03	-2.48%	-0.68%	1.10%	N/A	N/A	N/A	2.07.11
Expense Ratios	Gross 3.92% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Market Neutral Fund (Investor class)	$10.20	0.04	-2.39%	-0.78%	0.82%	N/A	N/A	N/A	2.07.11
Expense Ratios	Gross 4.18% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Investor Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Medical Sciences Long/Short Fund (C class)	$10.03	0.01	-0.20%	-2.43%	-4.29%	N/A	N/A	N/A	2.07.11
Expense Ratios	Gross 3.68% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Medical Sciences Long/Short Fund (Institutional class)	$10.14	0.00	-0.20%	-2.12%	-3.33%	N/A	N/A	N/A	2.07.11
Expense Ratios	Gross 2.79% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Medical Sciences Long/Short Fund (Investor class)	$10.12	0.01	-0.20%	-2.22%	-3.52%	N/A	N/A	N/A	2.07.11
Expense Ratios	Gross 2.94% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Spectrum Fund (C class)	$10.72	0.03	-2.19%	0.09%	-3.00%	N/A	N/A	N/A	7.15.09
Expense Ratios	Gross 3.44% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Spectrum Fund (Institutional class)	$11.01	0.03	-2.13%	0.55%	-2.02%	N/A	N/A	N/A	5.07.09
Expense Ratios	Gross 2.53% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Spectrum Fund (Investor class)	$10.92	0.03	-2.15%	0.37%	-2.21%	N/A	N/A	N/A	5.07.09
Expense Ratios	Gross 2.75% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Investor Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Titan Fund (C class)	$10.10	0.06	-2.70%	4.02%	1.58%	N/A	N/A	N/A	2.07.11
Expense Ratios	Gross 3.82% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Titan Fund (Institutional class)	$10.22	0.06	-2.67%	4.39%	2.55%	N/A	N/A	N/A	2.07.11
Expense Ratios	Gross 3.56% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Titan Fund (Investor class)	$10.20	0.06	-2.58%	4.40%	2.36%	N/A	N/A	N/A	2.07.11
Expense Ratios	Gross 4.68% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Investor Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
U.S. Growth Equity	NAV	Change in NAV	MTD	YTD	1-Year	3-Year	5-Year	10-Year	Inception Date
Turner All Cap Growth Fund (Investor class)	$8.17	0.27	-10.02%	0.25%	-5.81%	24.05%	5.03%	9.17%	6.30.00
Expense Ratios	Gross 2.12% Net 1.73%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Other Expenses" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 0.25% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. The advisory fee is subject to a performance adjustment based on the Fund’s performance relative to the performance of the NASDAQ Composite Index and may range from 0.70% to 1.50%, depending on the Fund’s performance. Redemptions within 90 days of purchase may be subject to a 2.00% redemption fee. At this time, purchases of the Fund will not be subject to this redemption fee. The Fund will notify all existing shareholders if and when it decides to implement the fee.
Turner Concentrated Growth Fund (Investor class)	$7.08	0.20	-8.65%	5.99%	-8.61%	16.54%	-1.75%	2.54%	6.30.99
Expense Ratios	Gross 2.08% Net 1.69%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Other Expenses" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 0.25% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. The advisory fee is subject to a performance adjustment based on the Fund’s performance relative to the performance of the S&P 500 Index and may range from 0.70% to 1.50%, depending on the Fund’s performance.
Turner Emerging Growth Fund (Institutional class)	$53.07	1.23	-6.96%	2.89%	-3.06%	23.24%	2.74%	8.03%	2.01.09
Expense Ratios	Gross 1.29% Net 1.17%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 1.15% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Emerging Growth Fund (Investor class)	$52.63	1.22	-6.98%	2.77%	-3.30%	22.94%	2.57%	7.94%	2.27.98
Expense Ratios	Gross 1.57% Net 1.42%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 1.40% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Large Growth Fund (Institutional class)	$12.16	0.34	-7.18%	7.80%	0.61%	16.98%	0.52%	4.83%	2.28.01
Expense Ratios	Gross 0.89% Net 0.69%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 0.69% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. Redemptions within 90 days of purchase may be subject to a 2.00% redemption fee. At this time, purchases of the Fund will not be subject to this redemption fee. The Fund will notify all existing shareholders if and when it decides to implement the fee.
Turner Large Growth Fund (Investor class)	$12.05	0.33	-7.24%	7.69%	0.39%	16.70%	0.26%	4.64%	8.01.05
Expense Ratios	Gross 1.13% Net 0.94%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 0.94% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. Redemptions within 90 days of purchase may be subject to a 2.00% redemption fee. At this time, purchases of the Fund will not be subject to this redemption fee. The Fund will notify all existing shareholders if and when it decides to implement the fee.
Turner Midcap Growth Fund (Institutional class)	$33.90	1.06	-8.30%	4.08%	-7.51%	21.43%	3.29%	6.35%	6.16.08
Expense Ratios	Gross 1.05% Net 0.93%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 0.93% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Midcap Growth Fund (Investor class)	$33.58	1.05	-8.33%	4.03%	-7.69%	21.15%	3.10%	6.25%	10.01.96
Expense Ratios	Gross 1.28% Net 1.18%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 1.18% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Midcap Growth Fund (Retirement class)	$31.89	1.00	-8.34%	2.64%	-9.07%	20.35%	2.58%	5.73%	9.24.01
Expense Ratios	Gross 1.54% Net 1.43%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 1.43% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Small Cap Growth Fund (Investor class)	$33.26	1.01	-7.76%	3.39%	-8.57%	21.77%	3.30%	7.04%	2.07.94
Expense Ratios	Gross 1.53% Net 1.25%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 1.25% through January 31, 2012. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2012. Turner may discontinue this arrangement at any time after January 31, 2012.

As of 04/30/12
International/Global Growth Equity	1-Month	1-Year	3-Year	5-Year	10-Year	Inception Date
Turner Global Opportunities Fund (Institutional class)	-1.78%	-2.54%	N/A	N/A	N/A	5.07.10
Expense Ratios:	Gross 3.64% Net 1.11%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 1.10% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Global Opportunities Fund (Investor class)	-1.79%	-2.75%	N/A	N/A	N/A	5.07.10
Expense Ratios:	Gross 3.89% Net 1.36%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 1.35% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner International Growth Fund (Institutional class)	0.09%	-8.68%	22.67%	2.03%	N/A	1.31.07
Expense Ratios:	Gross 2.41% Net 1.10%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 1.10% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner International Growth Fund (Investor class)	0.09%	-9.02%	22.39%	1.88%	N/A	11.01.08
Expense Ratios:	Gross 2.46% Net 1.35%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 1.35% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Long/Short Equity	1-Month	1-Year	3-Year	5-Year	10-Year	Inception Date
Turner Market Neutral Fund (C class)	0.47%	0.06%	N/A	N/A	N/A	2.07.11
Expense Ratios:	Gross 4.77% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Market Neutral Fund (Institutional class)	1.55%	1.10%	N/A	N/A	N/A	2.07.11
Expense Ratios:	Gross 3.92% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Market Neutral Fund (Investor class)	1.46%	0.82%	N/A	N/A	N/A	2.07.11
Expense Ratios:	Gross 4.18% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Investor Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Medical Sciences Long/Short Fund (C class)	-1.59%	-4.29%	N/A	N/A	N/A	2.07.11
Expense Ratios:	Gross 3.68% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Medical Sciences Long/Short Fund (Institutional class)	-0.49%	-3.33%	N/A	N/A	N/A	2.07.11
Expense Ratios:	Gross 2.79% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Medical Sciences Long/Short Fund (Investor class)	-0.49%	-3.52%	N/A	N/A	N/A	2.07.11
Expense Ratios:	Gross 2.94% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Spectrum Fund (C class)	-0.36%	-3.00%	N/A	N/A	N/A	7.15.09
Expense Ratios:	Gross 3.44% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Spectrum Fund (Institutional class)	0.72%	-2.02%	N/A	N/A	N/A	5.07.09
Expense Ratios:	Gross 2.53% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Spectrum Fund (Investor class)	0.72%	-2.21%	N/A	N/A	N/A	5.07.09
Expense Ratios:	Gross 2.75% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Investor Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Titan Fund (C class)	-0.13%	1.58%	N/A	N/A	N/A	2.07.11
Expense Ratios:	Gross 3.82% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Titan Fund (Institutional class)	0.96%	2.55%	N/A	N/A	N/A	2.07.11
Expense Ratios:	Gross 3.56% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Titan Fund (Investor class)	0.87%	2.36%	N/A	N/A	N/A	2.07.11
Expense Ratios:	Gross 4.68% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Investor Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
U.S. Growth Equity	1-Month	1-Year	3-Year	5-Year	10-Year	Inception Date
Turner All Cap Growth Fund (Investor class)	-3.51%	-5.81%	24.05%	5.03%	9.17%	6.30.00
Expense Ratios:	Gross 2.12% Net 1.73%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Other Expenses" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 0.25% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. The advisory fee is subject to a performance adjustment based on the Fund’s performance relative to the performance of the NASDAQ Composite Index and may range from 0.70% to 1.50%, depending on the Fund’s performance. Redemptions within 90 days of purchase may be subject to a 2.00% redemption fee. At this time, purchases of the Fund will not be subject to this redemption fee. The Fund will notify all existing shareholders if and when it decides to implement the fee.
Turner Concentrated Growth Fund (Investor class)	-4.20%	-8.61%	16.54%	-1.75%	2.54%	6.30.99
Expense Ratios:	Gross 2.08% Net 1.69%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Other Expenses" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 0.25% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. The advisory fee is subject to a performance adjustment based on the Fund’s performance relative to the performance of the S&P 500 Index and may range from 0.70% to 1.50%, depending on the Fund’s performance.
Turner Emerging Growth Fund (Institutional class)	-0.33%	-3.06%	23.24%	2.74%	8.03%	2.01.09
Expense Ratios:	Gross 1.29% Net 1.17%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 1.15% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Emerging Growth Fund (Investor class)	-0.37%	-3.30%	22.94%	2.57%	7.94%	2.27.98
Expense Ratios:	Gross 1.57% Net 1.42%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 1.40% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Large Growth Fund (Institutional class)	-0.98%	0.61%	16.98%	0.52%	4.83%	2.28.01
Expense Ratios:	Gross 0.89% Net 0.69%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 0.69% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. Redemptions within 90 days of purchase may be subject to a 2.00% redemption fee. At this time, purchases of the Fund will not be subject to this redemption fee. The Fund will notify all existing shareholders if and when it decides to implement the fee.
Turner Large Growth Fund (Investor class)	-0.99%	0.39%	16.70%	0.26%	4.64%	8.01.05
Expense Ratios:	Gross 1.13% Net 0.94%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 0.94% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. Redemptions within 90 days of purchase may be subject to a 2.00% redemption fee. At this time, purchases of the Fund will not be subject to this redemption fee. The Fund will notify all existing shareholders if and when it decides to implement the fee.
Turner Midcap Growth Fund (Institutional class)	-1.20%	-7.51%	21.43%	3.29%	6.35%	6.16.08
Expense Ratios:	Gross 1.05% Net 0.93%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 0.93% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Midcap Growth Fund (Investor class)	-1.21%	-7.69%	21.15%	3.10%	6.25%	10.01.96
Expense Ratios:	Gross 1.28% Net 1.18%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 1.18% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Midcap Growth Fund (Retirement class)	-1.25%	-9.07%	20.35%	2.58%	5.73%	9.24.01
Expense Ratios:	Gross 1.54% Net 1.43%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 1.43% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Small Cap Growth Fund (Investor class)	-0.19%	-8.57%	21.77%	3.30%	7.04%	2.07.94
Expense Ratios:	Gross 1.53% Net 1.25%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 1.25% through January 31, 2012. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2012. Turner may discontinue this arrangement at any time after January 31, 2012.

As of 03/31/12
International/Global Growth Equity	1-Year	3-Year	5-Year	10-Year	Since Inception	Inception Date
Turner Global Opportunities Fund (Institutional class)	1.75%	N/A	N/A	N/A	21.39%	5.07.10
Expense Ratios:	Gross 3.64% Net 1.11%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 1.10% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Global Opportunities Fund (Investor class)	1.47%	N/A	N/A	N/A	21.03%	5.07.10
Expense Ratios:	Gross 3.89% Net 1.36%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 1.35% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner International Growth Fund (Institutional class)	-2.79%	27.65%	2.87%	N/A	3.14%	1.31.07
Expense Ratios:	Gross 2.41% Net 1.10%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 1.10% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner International Growth Fund (Investor class)	-3.15%	27.35%	2.73%	N/A	3.00%	11.01.08
Expense Ratios:	Gross 2.46% Net 1.35%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 1.35% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Long/Short Equity	1-Year	3-Year	5-Year	10-Year	Since Inception	Inception Date
Turner Market Neutral Fund (C class)	0.99%	N/A	N/A	N/A	3.77%	2.07.11
Expense Ratios:	Gross 4.77% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Market Neutral Fund (Institutional class)	2.06%	N/A	N/A	N/A	4.82%	2.07.11
Expense Ratios:	Gross 3.92% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Market Neutral Fund (Investor class)	1.87%	N/A	N/A	N/A	4.56%	2.07.11
Expense Ratios:	Gross 4.18% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Investor Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Medical Sciences Long/Short Fund (C class)	-1.37%	N/A	N/A	N/A	0.96%	2.07.11
Expense Ratios:	Gross 3.68% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Medical Sciences Long/Short Fund (Institutional class)	-0.49%	N/A	N/A	N/A	1.83%	2.07.11
Expense Ratios:	Gross 2.79% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Medical Sciences Long/Short Fund (Investor class)	-0.68%	N/A	N/A	N/A	1.66%	2.07.11
Expense Ratios:	Gross 2.94% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Spectrum Fund (C class)	-2.38%	N/A	N/A	N/A	5.19%	7.15.09
Expense Ratios:	Gross 3.44% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Spectrum Fund (Institutional class)	-1.40%	N/A	N/A	N/A	5.67%	5.07.09
Expense Ratios:	Gross 2.53% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Spectrum Fund (Investor class)	-1.67%	N/A	N/A	N/A	5.39%	5.07.09
Expense Ratios:	Gross 2.75% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Investor Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Titan Fund (C class)	2.39%	N/A	N/A	N/A	3.33%	2.07.11
Expense Ratios:	Gross 3.82% Net 2.95%
Class C shares are subject to a 1.00% annual distribution and service fee and will be subject to a contingent deferred sales charge of 1.00% if redeemed within the first 12 months. Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund’s "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of the Class C Shares from exceeding 2.95%, through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Titan Fund (Institutional class)	3.38%	N/A	N/A	N/A	4.29%	2.07.11
Expense Ratios:	Gross 3.56% Net 1.95%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Institutional Class Shares from exceeding 1.95% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Titan Fund (Investor class)	3.18%	N/A	N/A	N/A	4.12%	2.07.11
Expense Ratios:	Gross 4.68% Net 2.20%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the "Total Annual Fund Operating Expenses after Fee Waivers and Expense Reimbursements" of Investor Class Shares from exceeding 2.20% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
U.S. Growth Equity	1-Year	3-Year	5-Year	10-Year	Since Inception	Inception Date
Turner All Cap Growth Fund (Investor class)	-0.84%	34.74%	6.64%	8.06%	-0.51%	6.30.00
Expense Ratios:	Gross 2.12% Net 1.73%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Other Expenses" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 0.25% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. The advisory fee is subject to a performance adjustment based on the Fund’s performance relative to the performance of the NASDAQ Composite Index and may range from 0.70% to 1.50%, depending on the Fund’s performance. Redemptions within 90 days of purchase may be subject to a 2.00% redemption fee. At this time, purchases of the Fund will not be subject to this redemption fee. The Fund will notify all existing shareholders if and when it decides to implement the fee.
Turner Concentrated Growth Fund (Investor class)	-0.86%	24.25%	0.06%	1.33%	1.16%	6.30.99
Expense Ratios:	Gross 2.08% Net 1.69%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Other Expenses" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 0.25% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. The advisory fee is subject to a performance adjustment based on the Fund’s performance relative to the performance of the S&P 500 Index and may range from 0.70% to 1.50%, depending on the Fund’s performance.
Turner Emerging Growth Fund (Institutional class)	0.74%	27.12%	3.71%	8.18%	18.62%	2.01.09
Expense Ratios:	Gross 1.29% Net 1.17%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 1.15% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Emerging Growth Fund (Investor class)	0.51%	26.81%	3.55%	8.10%	18.55%	2.27.98
Expense Ratios:	Gross 1.57% Net 1.42%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 1.40% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Large Growth Fund (Institutional class)	3.85%	21.17%	1.49%	4.18%	2.75%	2.28.01
Expense Ratios:	Gross 0.89% Net 0.69%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 0.69% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. Redemptions within 90 days of purchase may be subject to a 2.00% redemption fee. At this time, purchases of the Fund will not be subject to this redemption fee. The Fund will notify all existing shareholders if and when it decides to implement the fee.
Turner Large Growth Fund (Investor class)	3.55%	20.85%	1.24%	4.00%	2.59%	8.01.05
Expense Ratios:	Gross 1.13% Net 0.94%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Investor Class from exceeding 0.94% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013. Redemptions within 90 days of purchase may be subject to a 2.00% redemption fee. At this time, purchases of the Fund will not be subject to this redemption fee. The Fund will notify all existing shareholders if and when it decides to implement the fee.
Turner Midcap Growth Fund (Institutional class)	-4.22%	27.86%	4.41%	5.91%	10.45%	6.16.08
Expense Ratios:	Gross 1.05% Net 0.93%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) of the Institutional Class from exceeding 0.93% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Midcap Growth Fund (Investor class)	-4.41%	27.57%	4.22%	5.82%	10.38%	10.01.96
Expense Ratios:	Gross 1.28% Net 1.18%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 1.18% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Midcap Growth Fund (Retirement class)	-5.83%	26.73%	3.71%	5.30%	10.02%	9.24.01
Expense Ratios:	Gross 1.54% Net 1.43%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 1.43% through January 31, 2013. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2013. Turner may discontinue this arrangement at any time after January 31, 2013.
Turner Small Cap Growth Fund (Investor class)	-4.24%	27.29%	3.91%	6.44%	11.19%	2.07.94
Expense Ratios:	Gross 1.53% Net 1.25%
Turner has contractually agreed to waive fees and reimburse Fund expenses to keep the Fund's "Total Annual Fund Operating Expense after Fee Waivers and Expense Reimbursements" (excluding acquired fund fees and expenses and interest expenses relating to short sales) from exceeding 1.25% through January 31, 2012. Only the Board of Trustees of the Turner Funds may terminate the waiver prior to January 31, 2012. Turner may discontinue this arrangement at any time after January 31, 2012.

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. 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.

Effective October 1, 2010, The Turner Funds are distributed by Foreside Fund Services, LLC, Portland, ME. The investor should consider the investment objectives, risks, charges and expenses carefully before investing. This information can be found in the prospectus. A free summary or statutory prospectus, which contains detailed information, including fees and expenses, and the risks associated with investing in this fund, can be obtained by calling 800.224.6312 or by visiting www.turnerinvestments.com/fundinfo. Read the prospectus carefully before investing. Past performance is no guarantee of future results. Mutual fund investing involves risk, including potential loss of principal. This communication should not be considered an offer to provide any product or service in any jurisdiction that would be unlawful under the securities laws of that jurisdiction.

Turner Funds Performance Summary

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