Champlain Emerging Markets Fund

The fund’s objective is to seek long-term capital appreciation. The Champlain Emerging Market Fund requires a $10,000 minimum initial investment.

Advisor Shares
Ticker: CIPDX
Cusip: 00764Q660
Fund Inception: 09.08.14
Expense Ratio (Net): 1.50%*
Expense Ratio (Gross): 6.63%
Minimum Investment: $10,000

* The Adviser has contractually agreed to reduce fees and reimburse expenses in order to keep the Total Annual Fund Operating Expenses from exceeding 1.50% until November 30, 2018. The Fund is currently running at or under the contractual cap.

There is redemption fee of 2.00% for shares held less than 30 days.

The Champlain Funds are available to US investors only and may not be available in all states. The Champlain Funds are distributed by SEI Investments Distribution Co.(SIDCO), which is not affiliated with the adviser. Check the background of SIDCO on FINRA's BrokerCheck.

Disclosure:

To determine if this Fund is an appropriate investment for you, carefully consider the Funds investment objectives, risk factors, charges, and expenses before investing. This and other information can be found in the Funds full or summary prospectus, which may be obtained by calling 1-866-773-3238. Read the prospectus carefully before investing or sending money.

Mutual fund investing involves risk including possible loss of principal. In addition to the normal risks associated with investing, investments in smaller companies typically exhibit higher volatility.

Foreign investments present risks due to currency fluctuations, economic and political factors, lower liquidity, government regulations, differences in securities regulations and accounting standards, possible changes in taxation, limited public information and other factors. The risks are magnified in countries with emerging markets, since these countries may have relatively unstable governments and less established markets and economies. Small-cap stocks also are subject to substantial risks such as market, business, size volatility, management experience, product diversification, financial resource, competitive strength, liquidity, and potential to fall out of favor that may cause their prices to fluctuate over time, sometimes rapidly and unpredictably.

The fund is new and has limited operating history. The fund is non-diversified and may experience greater volatility. There is no guarantee the Fund will achieve its stated objective.