October 29, 2014

DENVER, Colorado (October 29, 2014) – Arrowpoint Partners announced today the appointment of Minyoung Sohn, CFA, to portfolio manager of the Meridian Equity Income Fund. Arrowpoint manages $7 billion in assets for high-net-worth and institutional investors, and is the investment adviser to the Meridian Funds.

Minyoung is a founding partner of Arrowpoint. Previously, Minyoung served as an executive vice president and portfolio manager at Janus Capital, where he managed $10 billion in assets for the Janus Growth and Income Fund (2004 to 2007) and the Janus Fundamental Equity Fund (2005 to 2007). He has 16 years of industry experience and is based in Arrowpoint’s Denver headquarters.

“We are excited to have Minyoung leading the Meridian Equity Income Fund. His passion for in-depth fundamental research and his expertise in large cap stocks will be a tremendous asset to current shareholders and the Meridian Fund family,” said David Corkins, Arrowpoint managing partner and founder.

Minyoung replaces the current management team of James (Jamie) England, Larry Cordisco and Jim O’Connor, who will now focus all their efforts to manage the Meridian Contrarian Fund.

“Jamie, Larry and Jim have done a great job for shareholders over the past several years,” said Minyoung. “I am excited to have the opportunity to build off their success while utilizing my portfolio management experience in a strategy that is very familiar to me. I look forward to applying a differentiated approach to generate returns for investors.”

About Arrowpoint Partners

Arrowpoint Partners is an SEC-registered investment adviser based in Denver, Colorado. Our mission is to deliver attractive risk-adjusted returns by cultivating world-class human capital and matching investment capabilities to meet client needs. Arrowpoint has expertise investing across the capital structure in a broad range of strategies for institutional, high-net-worth and retail investors. The firm was founded in 2007 and manages $7 billion in assets as of September 30, 2014.

Arrowpoint acquired the Meridian Funds from Aster Investment Management in 2013. The current lineup of funds includes Meridian Growth Fund, Meridian Contrarian Fund, Meridian Small Cap Growth Fund and Meridian Equity Income Fund.

Contact:

Ms. Angel Romero

Arrowpoint Partners

303-398-2962

aromero@ap-am.com

arrowpointpartners.com

Investors should consider the investment objective and policies, risk considerations, charges and ongoing expenses of an investment carefully before investing. The prospectus contains this and other information relevant to an investment in the fund. Please read the prospectus or summary prospectus carefully before you invest or send money. To obtain a prospectus, please contact your investment representative or Meridian Funds at 1-800-446-6662 or access the website at www.meridianfund.com.

The principal risks associated with an investment in the Fund, which could adversely affect its net asset value, yield and return, are set forth below. Please see the section “Further Information About Principal Risks” in the Prospectus for a more detailed discussion of these risk and other factors you should carefully consider before deciding to invest in the Fund: Equity Securities Risk, Market Risk, Income Risk and Foreign Security Risk.

Destra Capital Investments LLC, a member FINRA/SIPC, is the registered Brokers Dealer and is the distributor of the Meridian Funds, advised by Arrowpoint Asset Management, LLC

Not FDIC Insured, Not Bank Guaranteed, May Lose Value.

Arrowpoint Partners is a trade name for Arrowpoint Asset Management, LLC, a registered investment adviser.

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