MFOHome About Commentary Discussions Funds The Best Resources Support Us!

Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Sign In Register

Categories

In this Discussion

Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

    Support MFO

  • Donate through PayPal

Turner Funds liquidates three funds

TheShadowTheShadow
edited August 2017 in Fund Discussions
https://www.sec.gov/Archives/edgar/data/1006783/000110465917051828/a17-20197_1497.htm

497 1 a17-20197_1497.htm 497



TURNER FUNDS

Turner Midcap Growth Fund

Turner Small Cap Growth Fund

Turner Titan Long/Short Fund



Supplement dated August 14, 2017

to the Summary Prospectus, Prospectus and

Statement of Additional Information (“SAI”) dated January 27, 2017


THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN THE SUMMARY PROSPECTUS, THE PROSPECTUS AND THE SAI. THIS SUPPLEMENT SHOULD BE READ IN CONJUNCTION WITH THE SUMMARY PROSPECTUS, THE PROSPECTUS AND THE SAI.

On July 20, 2017, the Board of Trustees of the Turner Funds (the “Trust”) determined to dissolve Turner Midcap Growth Fund, Turner Small Cap Growth Fund and Turner Titan Long/Short Fund (each, a “Fund” and collectively, the “Funds”) and therefore the Funds will begin the complete liquidation of their assets. In connection with the liquidations, the Funds may hold more cash, cash equivalents or other short-term investments than normal, which may prevent a Fund from meeting its stated investment objective. On August 12, 2017, the Board of Trustees of the Trust approved the closure of the Funds to purchases and redemptions and the liquidation of the Funds.

Accordingly, effective 4:00 p.m. (Eastern time) on August 14, 2017, the Funds will no longer accept orders from new investors or existing shareholders to purchase Fund shares. Each Fund may distribute a portion of its assets in cash pro rata to shareholders to avoid being subject to federal income or excise taxes. On or about the close of business on September 8, 2017 (the “Liquidation Date”), the Funds will no longer accept orders from investors to redeem Fund shares and the Funds will distribute as soon as reasonably practicable thereafter all of their assets in cash pro rata to their respective shareholders. All outstanding shares will be redeemed and cancelled and the Funds will then be terminated as series of the Trust.

Shareholders should consult their personal tax advisers concerning their tax situation and the impact of the liquidation on their tax situation.

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

Comments

Sign In or Register to comment.