Investment Objective

• Century Growth Opportunities Fund seeks long-term capital growth.

Investment Philosophy

• Capital will flow to areas in the economy where returns on capital are above average and/or rising.
• Small and mid capitalization markets are inefficient, providing opportunities to utilize fundamental, bottom-up research to identify superior growth companies and misevaluations.
• Investing in small and mid capitalization stocks combines the high growth characteristics associated with small cap companies with the higher quality and stability of mid cap companies.

Investment Universe

• Market cap generally in range of $800m to $6b
• Benchmark: Russell 2500 Growth®

Fundamental Research

Three different types of growth companies with different risk/reward characteristics:

• Core Company Strong competitive advantages; above average margins and returns on capital; sustainable, above average EPS and sales growth
• Underestimation – Opportunity set is large or expanding rapidly; typically, estimates and returns on capital are rising; underestimated revenue and earnings potential
• Overreaction – Growth companies experiencing temporary setbacks; negative news fully discounted in share price; fundamental milestones created for tracking recovery process

* Inception date 11/17/2010

+ Annualized Returns Through 04/31/14

Past performance is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investors shares, when redeemed, may be worth more or less than original cost. As stated in the Fund’s current prospectus, the annual operating expense ratio (gross) is 1.12%; however, the adviser has agreed to contractually limit operating expenses to 1.10% through February 28, 2015. For the most recent month-end performance, please call 800-303-1928. Performance returns include the reinvestment of dividend and capital gain distributions. Returns less than one year are not annualized. Returns would have been lower during all periods shown if certain fees had not been waived or expenses reimbursed.

The recent growth rate in the stock market has helped to produce short-term returns for some asset classes that are not typical and may not continue in the future. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes.

An investment in the Fund is subject to risk, including the possible loss of principal. The Century Growth Opportunities Fund invests mainly in small-cap and mid-cap companies. Historically, small-cap and mid-cap stocks have been more volatile in price than large-cap stocks. Foreign investing involves certain risks and increased volatility not associated with investing solely in the U.S. These risks include currency fluctuations, economic or financial instability, lack of timely or reliable financial information or unfavorable political or legal developments. These risks are magnified in emerging markets.

The performance benchmark for Century Growth Opportunities Fund is the Russell 2500 Growth® Index, which measures the performance of those Russell 2500 companies with higher price-to-book ratios and higher forecasted growth values. Certain portfolio characteristics are also compared to those of the Russell 2500® Index, which measures the performance of the 2,500 smallest companies in the Russell 3000® Index, and the Russell 2500 Value® Index, which measures the performance of those Russell 2500 companies with lower price-to-book ratios and lower forecasted growth values. Index returns reflect no deduction for fees, expenses or taxes. One cannot invest directly in an index. P/B ratio is used to compare a stocks market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarters book value per share. Book Value is the total asset of a company minus total liability. Price to earnings (P/E) ratio is the value of a companys stock price relative to company earnings. Estimated earnings growth is the year over year growth in earnings per share. ROE (return on equity) is a measure of a corporations profitability that reveals how much profit a company generates with the money shareholders have invested and is calculated as Net Income/Shareholder’s Equity. EPS (earnings per share) is the portion of a companys profit allocated to each outstanding share of common stock. EPS serves as an indicator of a companys profitability. Alpha measures the difference between a fund’s actual returns and its expected performance, given its level of risk (as measured by beta). Beta is a measure of a fund’s sensitivity to market movements. A portfolio with a beta greater than 1 is more volatile than the market, and a portfolio with a beta less than 1 is less volatile than the market. PEG (P/E to Growth) ratio is used to determine a stocks value while taking into account earnings growth.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling 800-303-1928 or visiting the Fund’s website www.centuryfunds.com. Please read the prospectus carefully before you invest. Century Funds, 100 Federal Street, Boston, MA 02110. Century Funds are distributed by ALPS Distributors, Inc.