INVESTMENT TEAM

RICHARD J. JOHNSON, CFA

Richard Johnson is the chief executive officer, chief investment officer and lead portfolio manager of the firm. Prior to forming Tygh Capital Management, Mr. Johnson was the CIO for Columbia Management’s Portland equity team and lead portfolio manager for the small/mid cap team. Prior to joining Columbia Management in 1994, he served as vice president and securities analyst for Provident Investment Counsel (1990-1994). Mr. Johnson graduated cum laude with a BA degree in geology from Occidental College in 1980 and received his MBA degree from the Anderson Graduate School of Management at UCLA in 1990.

Jeff Curtis is the president and chief operating officer of the firm. Prior to forming Tygh Capital, Mr. Curtis had that same role at Columbia Management in Portland, Oregon (1993-2004), where he was responsible for all operations of the company except the investment process. Before joining Columbia, he was a corporate and securities lawyer with the largest firm in the Pacific Northwest, Stoel Rives. Mr. Curtis earned his undergraduate degree from the University of Oregon and graduated magna cum laude with a JD degree from Northwestern School of Law of Lewis & Clark College.

JEFF B. CURTIS

MICHAEL C. COYNE, CFA

Michael Coyne is a portfolio manager and equity analyst. Prior to joining Tygh Capital in 2004, he worked at Columbia Management from 2002-2004 focusing exclusively on small/mid cap equities as an associate and research analyst. Mr. Coyne has four additional years of experience as a financial analyst with Capital Resource Partners and Bear Stearns. Mr. Coyne earned his BA degree in engineering science from Dartmouth College in 1997 and received his MBA degree from the Anderson Graduate School of Management at UCLA in 2005.

SCOTT W. HAUGAN, CFA

Scott Haugan is a portfolio manager and equity analyst. Prior to joining Tygh Capital in 2007, he worked at Columbia Management from 2003-2005 as a research analyst and also held equity analyst/institutional sales positions at Pacific Crest Securities from 2000-2003 and First Analysis Securities from 2005-2007. He earned his BS degree in business from Montana State University in 1999.

MITCHELL S. BRIVIC, CFA

Mitchell Brivic is a portfolio manager and equity analyst. Prior to joining Tygh Capital in 2004, he worked at Columbia Management from 2002-2004 as an equity analyst on the small/mid cap team. Before joining Columbia Management, he worked at USAA Investment Management from 1994-2002, where he was an associate portfolio manager and senior equity analyst for their small cap growth products. He received his MBA degree from the Wharton School in 1995 and his undergraduate degree summa cum laude from Baylor University in 1989.

DAYTON E. RODEGERDTS, CFA

Dayton Rodegerdts is a portfolio manager and equity analyst. Prior to joining Tygh Capital in 2004, he worked at Columbia Management from 1998-2004 focusing exclusively on small/mid cap equities as a research analyst. He earned his BS degree in engineering with a minor in mathematics from Trinity University in 1998.

Tom Abernethy is a vice president and the head trader for the firm. Prior to joining Tygh Capital in 2004, he worked for Columbia Management from 1999-2004 as a senior equity trader. Mr. Abernethy was previously an equity trader for Stein Roe & Farnham from 1995-1999 and the Chicago Board of Trade from 1990-1995. He earned his BA degree from Denison University in 1989.

AMAYA BILBAO CROMWELL

Amaya Bilbao Cromwell is a vice president and the Chief Compliance Officer for the firm. Prior to joining Tygh Capital in 2004, she worked for Columbia Management from 2000-2004 as a Legal Product Manager. She earned her BA degree in English with a minor in Spanish from Portland State University in 1998.

THOMAS R. ABERNETHY

SCOTT R. HERRICK

Scott Herrick is a vice president and director of business development for the firm. Prior to joining Tygh Capital he worked at Becker Capital Management from 2005-2018 and was responsible for National Consultant Relations and Client Service. Scott also held similar positions at Gartmore Morley and Icon Funds from 2001 to 2004 and Columbia Management from 1994-2001. Mr. Herrick earned his BS degree in history from Oregon State University in 1991.

JULIE R. MCADAMS

Julie McAdams is the investments administrator for the firm and supports the investment team. Prior to joining Tygh Capital in 2004, she worked for Columbia Management from 1998-2004. She earned her BS degree in finance from Portland State University in 1997.

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The TCM Small Cap Growth Fund's investment objectives, risks, charges and expenses must be carefully considered before investing. The statutory and summary prospectuses contain this and other important information about the Fund. You may download the prospectus on this website or obtain a hard copy by calling 1-800-536-3230. Please read it carefully before investing.

The Fund invests in smaller and medium sized companies, which involve additional risks such as limited liquidity and greater volatility than large capitalization companies.

Investments in foreign securities involve greater volatility and political, eco­nomic and currency risks and differences in accounting methods. These risks are greater in emerging markets. Growth-oriented funds may underperform when value investing is in favor.

Earnings growth is not a measure of the Fund's future performance.

Definitions:

The Russell 2000 Growth Index is an unmanaged index representing those Russell 2000 Index companies with higher price-to-book ratios and future projected earnings according to the Frank Russell Company. One cannot invest directly in an index.  The Russell 2500 Growth Index is an unmanaged index representing those Russell 2500 Index companies with higher price-to-book ratios and future projected earnings according to Russell Investments.  P/E is the price of a stock divided by its reported earnings per share.   Enterprise value/EBITDA compares the value of a company (market value of equity plus debt minus cash) against its earnings before interest, taxes, depreciation and amortization ("EBITDA").  Price to sales is the current price of a stock divided by the company's sales per share for the trailing 12 months.  Cash flow refers to the incomings and outgoings of cash, representing the operating activities of an organization.  Return on invested capital is a profitability ratio that measures the return that an investment generates for those who have provided capital, i.c. bondholders and stockholders.  Basis point (BPS) refers to a common unit of measure for  percentages in finance.  One basis point is equal to 0.01%.

The TCM Small Cap Growth Fund is distributed by Quasar Distributors, LLC. The TCM Small Cap Fund is offered only to United States residents, and information on this web site is intended only for such persons. Nothing on the web site should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.