Emerging Markets Fund

Emerging Markets Fund

Inception Date: June 1, 2005

The TPF Emerging Markets Equity Fund seeks to provide enhanced long-term capital growth as part of a broadly diversified portfolio by investing in stocks of companies domiciled in countries with less developed economies, in regions such as Central and South America, Africa, and Asia. Ordinarily the Emerging Markets Fund would be used to expand the opportunity set of an investment portfolio as a companion to the TPF International Equity Fund, which focuses principally on larger companies in the more developed markets outside the U.S.

The TPF Emerging Markets Equity Fund invests in smaller companies in markets with greater political and economic instability, presenting more exposure to operational and liquidity risks than in developed countries, and with currency risks that are not easily hedged. As a result, although an investor may expect greater returns over the long term from investments in this rapidly growing part of the world economy, the Fund should experience high interim volatility.