|
| Cumulative Total Return | Class I |
as of 10/31/2008 |
as of 9/30/2008 |
|
NAV |
1 mo |
3 mo |
6 mo |
YTD |
SI† |
SI† |
|
4.82 |
(33.70%) |
(45.72%) |
(49.10%) |
(51.80%) |
(51.80%) |
(27.30%) |
Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted. † Fund inception date of 12/31/2007; trading began on 1/2/2008.
|
| Annual Fund Operating Expenses | Class I |
| (Expenses That Are Deducted From Fund Assets) |
|
|
Management Fees
|
0.85%
|
|
|
|
Distribution and service (12b-1) fees
|
None
|
|
|
|
Acquired Fund Fees and Expenses
|
0.00%
|
|
|
|
Other expenses**
|
34.48%
|
|
|
|
Total annual fund operating expenses***
|
35.33%
|
|
|
|
Fee Waiver and Expense Reimbursement***
|
(34.33%)
|
|
Net Annual Fund Operating Expenses***
|
1.00%
|
|
|
** “Other expenses” are based on estimated amounts for the current fiscal year.
*** AAI & RRC have given a contractual agreement to the Listed Private Equity Fund to limit the amount of the Fund’s total annual expenses, exclusive of Distribution and service (12b-1) fees, Acquired Fund Fees and Expenses, brokerage expenses, interest expense, taxes and extraordinary expenses, to 1.00% of the Fund’s average daily net assets. This agreement is in effect through April 30, 2009 and is reevaluated on an annual basis. Without this agreement expenses could be higher. In addition, the Fund’s organizational expenses will be borne by AAI. AAI and RRC will be permitted to recover, on a class by class basis, expenses borne through the agreements described above to the extent that the Fund’s expenses in later periods fall below the annual rates set forth in the relevant agreement. The Fund will not be obligated to pay any such deferred fees and expenses more than one year after the end of the fiscal year in which the fee and expense was deferred.
|
|
