Kempner Multi-Cap Deep Value Fund Investor Class 

This fund's primary aim is to deliver a pre-tax total return, encompassing both capital appreciation and dividend income, that outpaces inflation over a three-to-five-year period. While its portfolio predominantly consists of common stocks, it also possesses the flexibility to allocate capital to various other publicly traded equity-linked instruments. These may include Real Estate Investment Trusts (REITs), American Depositary Receipts (ADRs), and comparable securities such as convertible preferred stocks and convertible debentures. The Adviser's investment selection methodology focuses on the individual characteristics of specific companies, rather than making decisions based on broader industries or market sectors.