The Virtus Quality Small-Cap Fund seeks long-term capital appreciation by investing in small-cap value companies believed to be undervalued relative to their future growth potential. The Fund managers look for high-quality companies with a sustainable competitive advantage, disciplined shareholder value oriented management, and solid financial strength that have the opportunity to outgrow their markets.

The Walthausen Small Cap Value Fund invests in small cap companies that are believed to have the potential for capital appreciation. When choosing a company the Fund manager John B. Walthausen focuses on the sustainability of its business model, the ability to generate cash flow and the opportunities that it has to reinvest in businesses that could substantially improve its value.

The Dreman Contrarian Small Cap Value Fund invests in companies that we believe are trading at earnings multiples below the market. The Fund manager, Mark Roach, looks for stocks that in his opinion are unfairly driven out of favor but still have their permanent long term franchise intact.