https://www.sec.gov/Archives/edgar/data/878719/000113542816001309/thb-497.txtTYPE>497
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thb-497.txt
THE ADVISORS' INNER CIRCLE FUND (THE "TRUST")
THOMSON HORSTMANN & BRYANT SMALL CAP VALUE FUND (THE "FUND")
Supplement dated May 4, 2016
to the
Prospectus and Statement of Additional Information (the "SAI"), each
dated March 1, 2016
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS AND SAI, AND SHOULD BE READ IN CONJUNCTION WITH THE PROSPECTUS
AND SAI.
The Board of Trustees of the Trust, at the recommendation of Thomson Horstmann &
Bryant, Inc. ("THB"), the investment adviser of the Fund, has approved a plan of
liquidation providing for the liquidation of the Fund's assets and the
distribution of the net proceeds pro rata to the Fund's shareholders. In
connection therewith, the Fund will be closed to new investments effective
immediately. The Fund is expected to cease operations and liquidate on or about
June 24, 2016 (the "Liquidation Date").
Prior to the Liquidation Date, shareholders may redeem (sell) their shares in
the manner described in the "How to Sell Your Fund Shares" section of the
Prospectus. For those Fund shareholders that do not redeem (sell) their shares
prior to the Liquidation Date, the Fund will distribute to each such
shareholder, on or promptly after the Liquidation Date, a liquidating cash
distribution equal in value to the shareholder's interest in the net assets of
the Fund as of the Liquidation Date.
In anticipation of the liquidation of the Fund, THB may manage the Fund in a
manner intended to facilitate its orderly liquidation, such as by raising cash
or making investments in other highly liquid assets. As a result, during this
time, all or a portion of the Fund may not be invested in a manner consistent
with its stated investment strategies, which may prevent the Fund from achieving
its investment objective.
The liquidation distribution amount will include any accrued income and capital
gains, will be treated as a payment in exchange for shares and will generally be
a taxable event. You should consult your personal tax advisor concerning your
particular tax situation. Shareholders remaining in the Fund on the Liquidation
Date will not be charged any transaction fees by the Fund. However, the net
asset value of the Fund on the Liquidation Date will reflect the costs of
liquidating the Fund.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
THB-SK-002-0100
