GREAT LAKES SMALL CAP OPPORTUNITY FUND CLASS I (WHSIX) Exchange: NMFQS

DELISTED - The Fund primarily invests in a combination of equity securities of foreign (i.e., non-U.S.) companies with a suitable potential for earnings growth. The Fund invests its assets in equity securities of non-U.S. companies located in countries with developed markets, but may also invest in companies domiciled in emerging markets. The Fund invests, under normal market conditions, at least 80% of its assets (plus borrowings made for investment purposes), at the time of initial purchase, in common stocks of companies with small market capitalizations. The 80% policy in the preceding sentence may be changed by the Fund upon 60 days' prior notice to shareholders. For purposes of the Fund, the Fund's sub-adviser considers small capitalization companies to be companies that have a market capitalization that is within the market capitalization range, based on the full-market capitalization method, of companies included in the MSCI ACWI ex USA Small Cap Index at the time of investment. As of the date of this prospectus, approximately 99% of the MSCI ACWI ex USA Small Cap Index consisted of companies with a market capitalization of less than $5 billion. The Fund's sub-adviser, EAM Global Investors, LLC ("EAM Global" or "Sub-Adviser") employs an objective, fundamentally-driven strategy to construct a diversified portfolio of small capitalization international stocks. EAM Global employs a multi-step, "bottom-up" investment process focused on identifying stocks that it believes are accelerating their potential earnings growth due to positive, fundamental changes. EAM Global actively screens for companies exhibiting the characteristics it believes are associated with positive fundamental change by attempting to identify companies with the following key attributes: •  Low but rising growth expectations; •  Well positioned to exceed consensus expectations of growth; and •  Have the opportunity to achieve higher future valuations (i.e. multiple expansion). EAM Global then conducts a review of each investment candidate's company and industry fundamentals to assess whether or not there are new developments that are likely to translate into sustainable growth and whether or not the investment is timely. EAM Global believes that applying this process consistently, while maintaining a diversified portfolio of typically 100 to 150 securities with limited exposure to any single stock, will result in the strategy outperforming its benchmark over the long-term. The Fund invests, under normal conditions, at least 80% of its assets at the time of initial purchase, in securities issued by foreign companies. The Fund invests in securities of companies operating in a broad range of industries, and will not invest more than 25% of its assets in any single industry. The Fund will invest in securities of foreign issuers but may invest in securities of U.S. issuers. The Fund may engage in frequent and active trading of securities as a part of its principal investment strategy.