Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.

Fund Facts Inception Date: December 31, 1996 Cusip Number: 576417109 Ticker Symbol: MSEFX Minimum Investment: $5,000 ($1,000 retirement accounts) Annual Expenses: 1.18% (as of 4/30/2007) Sales Loads: None 12B-1 Fees: None Redemption Fee: 2% if redeemed within six months, all proceeds to Fund Phone: (800) 960-0188 While the fund is no-load, management and other expenses still apply. Fund Statistics 4/30/08 Total Net Assets $644,518,000 Net Asset Value $14.81 Current Expense Accrual Rate 1.23% Total Stocks 89 Gross Expense Ratio* Net Expense Ratio** 1.19% 1.18% * The gross expense ratio can be found on page 4 of the most recent Prospectus (4/30/07). ** The net expense ratio can be found on page 42 of the most recent Prospectus (4/30/07). ** Through 12/31/08, Litman/Gregory has voluntarily agreed to waive a portion of its management fee to pass through any costs benefits resulting from changes in the sub-advisory fee schedules or allocations. back to top Portfolio Composition (as of 3.31.08)     back to top Sector Allocation vs. Russell 3000 Index (as of 3.31.08) back to top