Company:  ADVISORS' INNER CIRCLE FU ... (AEMGX)
Form Type:  485BPOS
Filing Date:  2/28/2017 
CIK:  0000878719 
Address:  1 FREEDOM VALLEY DRIVE 
City, State, Zip:  OAKS, Pennsylvania 19087 
Telephone:  (800) 932-7781 
Fiscal Year:  10/31 
Register and access this filing in:     
  FORM 485BPOS
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGY
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    CALCULATING YOUR SHARE PRICE
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    ADDITIONAL INFORMATION ABOUT THE FUND
    MORE INFORMATION ABOUT FUND INVESTMENTS AND RISKS
    PRINCIPAL RISKS
    INVESTMENT MANAGEMENT
    INVESTMENT ADVISER
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
      FUND PERFORMANCE
      FUND PERFORMANCE
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE FUND'S OBJECTIVE AND INVESTMENTS
    INVESTMENT ADVISER
    RELATED PERFORMANCE DATA OF THE ADVISER
    PERFORMANCE INFORMATION FOR THE ADVISER'S SMALL CAP ...
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
    SUBSTANTIALLY SIMILAR ACCOUNTS AND DOES NOT REPRESENT THE ...
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
      FUND PERFORMANCE
    INVESTMENT ADVISER
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
      FUND PERFORMANCE
    INVESTMENT ADVISER
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    RISKS OF INVESTING IN OTHER INVESTMENT COMPANIES -- To the ...
    PERFORMANCE INFORMATION
      FUND PERFORMANCE
    INVESTMENT ADVISER
    INVESTMENT ADVISER
      OPERATING EXPENSES
    RELATED PERFORMANCE DATA OF THE ADVISER
    PERFORMANCE INFORMATION FOR THE ADVISER'S MID CAP EQUITY ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S INCOME ...
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE FUND'S OBJECTIVE AND INVESTMENTS
    INVESTMENT ADVISER
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE FUND'S OBJECTIVE AND INVESTMENTS
    INVESTMENT ADVISER
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
      FUND PERFORMANCE
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE FUND'S OBJECTIVE AND INVESTMENTS
    INVESTMENT ADVISER
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
      FUND PERFORMANCE
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE FUND'S OBJECTIVE AND INVESTMENTS
    INVESTMENT ADVISER
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    LSV ASSET MANAGEMENT
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    CORNERSTONE ACTS AS THE MANAGER OF MANAGERS OF THE FUNDS AND ...
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    THE ADVISORS' INNER CIRCLE FUND'S INVESTMENT COMPANY ACT ...
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FEES AND EXPENSES OF THE FUND
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS OF INVESTING IN THE FUND
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    INVESTMENT OBJECTIVE
    FEES AND EXPENSES OF THE FUND
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS OF INVESTING IN THE FUND
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    INVESTMENT OBJECTIVE
    FEES AND EXPENSES OF THE FUND
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS OF INVESTING IN THE FUND
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE INVESTMENT ADVISER
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS OF INVESTING IN THE FUND
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    INVESTMENT ADVISER
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS OF INVESTING IN THE FUND
    PERFORMANCE INFORMATION
      SALES CHARGES
    INVESTMENT ADVISER
    INVESTMENT ADVISER
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGY
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE FUND'S OBJECTIVE AND INVESTMENTS
    INVESTMENT ADVISER
    HISTORICAL PERFORMANCE DATA OF THE ADVISER
    THE INFORMATION IN THE TABLE DOES NOT REPRESENT THE ...
    PERFORMANCE OF THE FUND.
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGY
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    CALCULATING YOUR SHARE PRICE
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    ADDITIONAL INFORMATION ABOUT THE FUND
    OTHER INVESTMENT PRACTICES AND STRATEGIES
    INVESTMENT MANAGEMENT
    INVESTMENT ADVISER
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE FUND'S OBJECTIVE AND INVESTMENTS
    INVESTMENT ADVISER
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
    INVESTMENT ADVISER
    THE ADVISORS' INNER CIRCLE FUND'S INVESTMENT COMPANY ACT ...
    INVESTMENT ADVISER:
    LSV ASSET MANAGEMENT
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
      FUND PERFORMANCE
    DEDUCTION FOR FEES, EXPENSES, OR TAXES)
    INVESTMENT ADVISER
    LSV Asset Management
    MORE INFORMATION ABOUT THE INVESTMENT ADVISER
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    LSV ASSET MANAGEMENT
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    LSV Asset Management
    MORE INFORMATION ABOUT THE INVESTMENT ADVISER
    RELATED PERFORMANCE DATA OF THE ADVISER
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S SUBSTANTIALLY ...
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    LSV ASSET MANAGEMENT
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    LSV Asset Management
    MORE INFORMATION ABOUT THE INVESTMENT ADVISER
    RELATED PERFORMANCE DATA OF THE ADVISER
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S SUBSTANTIALLY ...
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    LSV ASSET MANAGEMENT
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    LSV Asset Management
    MORE INFORMATION ABOUT THE INVESTMENT ADVISER
    RELATED PERFORMANCE DATA OF THE ADVISER
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S SUBSTANTIALLY ...
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    LSV ASSET MANAGEMENT
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    LSV Asset Management
    MORE INFORMATION ABOUT THE INVESTMENT ADVISER
    RELATED PERFORMANCE DATA OF THE ADVISER
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S SUBSTANTIALLY ...
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    LSV ASSET MANAGEMENT
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
      FUND PERFORMANCE
    INVESTMENT ADVISER
    LSV Asset Management
    MORE INFORMATION ABOUT THE INVESTMENT ADVISER
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGY
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
      FUND PERFORMANCE
    INVESTMENT ADVISER
    CALCULATING YOUR SHARE PRICE
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    ADDITIONAL INFORMATION ABOUT THE FUND
    OTHER INVESTMENT PRACTICES AND STRATEGIES
    INVESTMENT MANAGEMENT
    INVESTMENT ADVISER
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    CALCULATING YOUR SHARE PRICE
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    ADDITIONAL INFORMATION ABOUT THE FUNDS
    OTHER INVESTMENT PRACTICES AND STRATEGIES
    INVESTMENT MANAGEMENT
    INVESTMENT ADVISER
    FINANCIAL HIGHLIGHTS
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGY
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE INVESTMENT ADVISER
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGY
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE INVESTMENT ADVISER
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    INVESTMENT ADVISER:
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    MORE INFORMATION ABOUT THE FUND'S OBJECTIVE AND INVESTMENTS
    INVESTMENT ADVISER
    RELATED PERFORMANCE DATA OF THE ADVISER
    THE DATA DOES NOT REPRESENT THE PERFORMANCE OF THE FUND.
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    THE ADVISORS' INNER CIRCLE FUND'S INVESTMENT COMPANY ACT ...
    INVESTMENT MANAGEMENT
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    CALCULATING YOUR SHARE PRICE
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    ADDITIONAL INFORMATION ABOUT THE FUND
    OTHER INVESTMENT PRACTICES AND STRATEGIES
    INVESTMENT MANAGEMENT
    INVESTMENT ADVISER
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER:
    WESTWOOD MANAGEMENT CORP.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      SHAREHOLDER FEES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVES
    FUND FEES AND EXPENSES
      SHAREHOLDER FEES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      SHAREHOLDER FEES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      SHAREHOLDER FEES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      SHAREHOLDER FEES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      SHAREHOLDER FEES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISERS
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      SHAREHOLDER FEES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    INVESTMENT ADVISER
      OPERATING EXPENSES
    INVESTMENT SUB-ADVISER
    RELATED PERFORMANCE DATA OF THE ADVISER
    PERFORMANCE INFORMATION FOR THE ADVISER'S LARGECAP VALUE ...
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
    SUBSTANTIALLY SIMILAR ACCOUNTS AND DOES NOT REPRESENT THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S INCOME OPPORTUNITY ...
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
    SUBSTANTIALLY SIMILAR ACCOUNTS AND DOES NOT REPRESENT THE ...
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
      FUND PERFORMANCE
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
      FUND PERFORMANCE
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
      SALES CHARGES
      SALES CHARGES
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    THE ADVISORS' INNER CIRCLE FUND'S INVESTMENT COMPANY ACT ...
    INVESTMENT ADVISER:
    WESTWOOD MANAGEMENT CORP.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    RISKS OF INVESTING IN OTHER INVESTMENT COMPANIES -- To the ...
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVES
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISERS
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    RISKS OF INVESTING IN OTHER INVESTMENT COMPANIES -- To the ...
    PERFORMANCE INFORMATION
    INVESTMENT ADVISERS
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    INVESTMENT ADVISER
    INVESTMENT SUB-ADVISER
    RELATED PERFORMANCE DATA OF THE ADVISER
    PERFORMANCE INFORMATION FOR THE ADVISER'S LARGECAP VALUE ...
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
    SUBSTANTIALLY SIMILAR ACCOUNTS AND DOES NOT REPRESENT THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S SMIDCAP STRATEGY ...
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
    SUBSTANTIALLY SIMILAR ACCOUNTS AND DOES NOT REPRESENT THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S SMALLCAP STRATEGY ...
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
    SUBSTANTIALLY SIMILAR ACCOUNTS AND DOES NOT REPRESENT THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S INCOME OPPORTUNITY ...
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
    SUBSTANTIALLY SIMILAR ACCOUNTS AND DOES NOT REPRESENT THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S MARKET NEUTRAL ...
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
      FUND PERFORMANCE
    THE FOLLOWING DATA ILLUSTRATES THE PAST PERFORMANCE OF THE ...
      FUND PERFORMANCE
    WESTWOOD OPPORTUNISTIC HIGH YIELD FUND RELATED PERFORMANCE DATA
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
      FUND PERFORMANCE
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    THE ADVISORS' INNER CIRCLE FUND'S INVESTMENT COMPANY ACT ...
    INVESTMENT ADVISER:
    WESTWOOD MANAGEMENT CORP.
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    RISKS OF INVESTING IN OTHER INVESTMENT COMPANIES -- To the ...
    PERFORMANCE INFORMATION
    INVESTMENT ADVISERS
    FUND INVESTMENT OBJECTIVE
    FUND FEES AND EXPENSES
      OPERATING EXPENSES
    PRINCIPAL INVESTMENT STRATEGIES
    PRINCIPAL RISKS
    PERFORMANCE INFORMATION
    INVESTMENT ADVISER
    Westwood Management Corp.
    INVESTMENT ADVISER
      OPERATING EXPENSES
    INVESTMENT SUB-ADVISER
    FUND RELATED PERFORMANCE DATA (WESTWOOD OPPORTUNISTIC HIGH ...
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
    RELATED PERFORMANCE DATA OF THE ADVISER (WESTWOOD MARKET ...
    THE FOLLOWING DATA DOES NOT REPRESENT THE PERFORMANCE OF THE ...
    PERFORMANCE INFORMATION FOR THE ADVISER'S MARKET NEUTRAL ...
    BUYING OR SELLING SHARES THROUGH A FINANCIAL INTERMEDIARY
    DIVIDENDS AND DISTRIBUTIONS
    FINANCIAL HIGHLIGHTS
      FINANCIAL HIGHLIGHTS TABLE
      FINANCIAL HIGHLIGHTS TABLE
    INVESTMENT ADVISER
    THE ADVISORS' INNER CIRCLE FUND'S INVESTMENT COMPANY ACT ...
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
      RISKS OF INVESTING IN EQUITY SECURITIES:
      INVESTMENT POLICIES OF THE FUND
      INVESTMENT ADVISORY AND OTHER SERVICES
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
      CODES OF ETHICS
      PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
        BENEFICIAL OWNERS
    APPENDIX A
    APPENDIX B -- PROXY VOTING POLICIES AND PROCEDURES
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
      RISKS OF INVESTING IN EQUITY SECURITIES:
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
      CODES OF ETHICS
      PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
        BENEFICIAL OWNERS
    APPENDIX A
    APPENDIX B -- PROXY VOTING POLICIES AND PROCEDURES
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
        PORTFOLIO OF INVESTMENTS
      CODES OF ETHICS
      PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
        BENEFICIAL OWNERS
    APPENDIX A - DESCRIPTION OF RATINGS
    APPENDIX B -- PROXY VOTING POLICIES AND PROCEDURES
      PRIVATE WEALTH MANAGEMENT
      AT INVESTMENT ADVISERS, INC.
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
        OPERATING EXPENSES
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
      CODE OF ETHICS
      PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
        BENEFICIAL OWNERS
    APPENDIX A -- DESCRIPTION OF RATINGS
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
      INVESTMENT SUB-ADVISERS:
      LSV Asset Management
      INVESTMENT ADVISER.
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
      LSV ASSET MANAGEMENT
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
        PORTFOLIO OF INVESTMENTS
      CODE OF ETHICS
      PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
    APPENDIX A -- DESCRIPTION OF RATINGS
    APPENDIX A
      EXHIBIT INVESTMENT ADVISER OR SUB-ADVISER FUND
      2. BOARD OF DIRECTORS:
      DIRECTOR PERFORMANCE EVALUATION:
      PROBLEMATIC COMPENSATION PRACTICES/PAY FOR PERFORMANCE ...
      MANAGEMENT PROPOSALS TO RATIFY A POISON PILL
      MANAGEMENT PROPOSALS TO RATIFY A PILL TO PRESERVE NET ...
        BENEFICIAL OWNERS
      VALUE MAXIMIZATION SHAREHOLDER PROPOSALS
      PAY-FOR-PERFORMANCE EVALUATION
      PROBLEMATIC PAY PRACTICES RELATED TO NON-PERFORMANCE-BASED ...
      SHAREHOLDER VALUE TRANSFER (SVT)
      PROBLEMATIC PAY PRACTICES OR SIGNIFICANT PAY-FOR-PERFORMANCE ...
      ADOPT ANTI-HEDGING/PLEDGING/SPECULATIVE INVESTMENTS POLICY
      PAY FOR PERFORMANCE/PERFORMANCE-BASED AWARDS
      PAY FOR SUPERIOR PERFORMANCE
      INVESTMENT ADVISORY AGREEMENTS
      CHANGE FUNDAMENTAL INVESTMENT OBJECTIVE TO NONFUNDAMENTAL
      REIMBURSE SHAREHOLDER FOR EXPENSES INCURRED
      TERMINATE THE INVESTMENT ADVISOR
      CEO AND MANAGEMENT SUCCESSION PLANNING
      CLASSIFIED BOARD OF DIRECTORS/STAGGERED TERMS
      REIMBURSEMENT OF EXPENSES FOR SUCCESSFUL SHAREHOLDER CAMPAIGNS
      PAY-FOR-PERFORMANCE PLANS
      PAY-FOR-SUPERIOR-PERFORMANCE
    APPENDIX: OUR APPROACH TO SAY ON PAY
      BOARD OF DIRECTORS
      MANAGEMENT PROPOSALS SEEKING APPROVAL TO RE-PRICE OPTIONS
      B. BOARD OF DIRECTORS
      PERFORMANCE EVALUATION FOR DIRECTORS
      PAY FOR SUPERIOR PERFORMANCE
      PERFORMANCE-BASED AWARDS
      INVESTMENT ADVISORY AGREEMENTS
      CHANGE FUNDAMENTAL INVESTMENT OBJECTIVE TO NONFUNDAMENTAL
      REIMBURSE SHAREHOLDER FOR EXPENSES INCURRED
      TERMINATE THE INVESTMENT ADVISOR
        FINANCIAL RESULTS/DIRECTOR AND AUDITOR REPORTS
      B. BOARD OF DIRECTORS
      DISCHARGE OF BOARD AND MANAGEMENT
      RESPONSIBILITY OF THE INVESTMENT MANAGER TO VOTE PROXIES
      HOW THE INVESTMENT MANAGER VOTES PROXIES
      WEIGHT GIVEN MANAGEMENT RECOMMENDATIONS
      THE INVESTMENT MANAGER'S PROXY VOTING POLICIES AND PRINCIPLES
      BOARD OF DIRECTORS ISSUES
      LSV ASSET MANAGEMENT
      MANAGEMENT POLICY
      MANAGEMENT POLICY
      MANAGEMENT POLICY
      MANAGEMENT POLICY
      Board of Directors
      MANAGEMENT POLICY
      MANAGEMENT POLICY
      Additional Information
      MANAGEMENT POLICY
      MANAGEMENT POLICY
    APPENDIX A
    APPENDIX B
      1. FIDUCIARY DUTY AND OBJECTIVE
    APPENDIX A
      NAME AND TITLE
      MANAGEMENT INITIATIVES
      2. BOARD OF DIRECTORS:
      DIRECTOR PERFORMANCE EVALUATION:
      PROBLEMATIC COMPENSATION PRACTICES/PAY FOR PERFORMANCE ...
      MANAGEMENT PROPOSALS TO RATIFY A POISON PILL
      MANAGEMENT PROPOSALS TO RATIFY A PILL TO PRESERVE NET ...
        BENEFICIAL OWNERS
      VALUE MAXIMIZATION SHAREHOLDER PROPOSALS
      PAY-FOR-PERFORMANCE EVALUATION
      PROBLEMATIC PAY PRACTICES RELATED TO NON-PERFORMANCE-BASED ...
      SHAREHOLDER VALUE TRANSFER (SVT)
      PROBLEMATIC PAY PRACTICES OR SIGNIFICANT PAY-FOR-PERFORMANCE ...
      ADOPT ANTI-HEDGING/PLEDGING/SPECULATIVE INVESTMENTS POLICY
      PAY FOR PERFORMANCE/PERFORMANCE-BASED AWARDS
      PAY FOR SUPERIOR PERFORMANCE
      INVESTMENT ADVISORY AGREEMENTS
      CHANGE FUNDAMENTAL INVESTMENT OBJECTIVE TO NONFUNDAMENTAL
      REIMBURSE SHAREHOLDER FOR EXPENSES INCURRED
      TERMINATE THE INVESTMENT ADVISOR
      BAIRD EQUITY ASSET MANAGEMENT
      POLICY OBJECTIVES
      VOTING OBJECTIVES
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
      ADDITIONAL INFORMATION ABOUT INVESTMENT OBJECTIVES AND POLICIES
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
      CODES OF ETHICS
      PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
    APPENDIX A
    APPENDIX B -- PROXY VOTING POLICIES AND PROCEDURES
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
      ADDITIONAL INFORMATION ABOUT INVESTMENT OBJECTIVES AND POLICIES
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
      CODES OF ETHICS
      PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
    APPENDIX A
    APPENDIX B
      INVESTMENT ADVISORY SERVICES FOR MUTUAL FUNDS
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
      ADDITIONAL INFORMATION ABOUT INVESTMENT OBJECTIVES AND POLICIES
        OPERATING EXPENSES
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
      CODES OF ETHICS
      PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
        BENEFICIAL OWNERS
    APPENDIX A
    APPENDIX B -- PROXY VOTING POLICIES AND PROCEDURES
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
      RISKS OF INVESTING IN EQUITY SECURITIES:
      INVESTMENT POLICIES OF THE FUND
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
      CODES OF ETHICS
      PRINCIPAL SHAREHOLDERS AND CONTROL PERSONS
    APPENDIX A
    APPENDIX B -- PROXY VOTING POLICIES AND PROCEDURES
      BOARD OF DIRECTORS:
      DIRECTOR PERFORMANCE EVALUATION:
      PROBLEMATIC COMPENSATION PRACTICES/PAY FOR PERFORMANCE ...
      PAY-FOR-PERFORMANCE EVALUATION
      PROBLEMATIC PAY PRACTICES RELATED TO NON-PERFORMANCE-BASED ...
    STATEMENT OF ADDITIONAL INFORMATION
      INVESTMENT ADVISER:
      RISKS OF INVESTING IN EQUITY SECURITIES:
        TRUSTEE OWNERSHIP
      TRUSTEES AND OFFICERS OF THE TRUST
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        NAME AND TITLE
        TRUSTEE OWNERSHIP
        COMPENSATION TABLE
        NAME AND TITLE
      DETERMINATION OF NET ASSET VALUE
      CODES OF ETHICS