Performance

Shares of CRM Funds are distributed by ALPS Distributors, Inc.

Cramer Rosenthal McGlynn, LLC is the investment advisor to the CRM Funds and is not affiliated with ALPS.

The information on the Funds’ performance represent past performance, which does not guarantee future results. If you invest in a Fund, your investment return and principal value will fluctuate, so that your shares, when redeemed, may be worth more of less than their original cost. The Funds’ current performance may be lower or higher than the performance above. For most recent month-end performance, please click here.

¹The net expense ratios are the current annualized expense ratio as stated in the CRM Funds prospectus dated October 26, 2018, and will fluctuate over time. CRM has a contractual obligation to waive a portion of its fees through November 1, 2019 and to assume certain expenses of the Fund to the extent that the total annual fund operating expenses, excluding taxes, extraordinary expenses, brokerage commissions, interest and acquired fund fees and expenses, exceed 1.60% for the CRM Long/Short Opportunities Fund of average daily net assets of Institutional Shares, exceed 0.90% and 0.65% for the CRM Large Cap Opportunity Fund, and 1.50% and 1.25% for the CRM All Cap Value Fund of average daily net assets of Investor Shares and Institutional Shares, respectively and may be terminated by a vote of the Board of Trustees. Performance would have been lower in the absence of fee waivers and expense reimbursements. ² The Since Inception performance return for the indices represent the Investor Shares for the CRM Small Cap Value Fund and the Institutional Shares for the CRM Long/Short Opportunities Fund, CRM Small/Mid Cap Value Fund, CRM Mid Cap Value Fund and CRM Large Cap Opportunity Fund. For the index performance information for all other share classes, please see the performance listed for each Fund at CRM Funds.