Bogle Investment Management

Mutual Fund Information

Bogle Small Cap Growth Fund as of 06/30/15
TICKER SYMBOL BOGLX
CUSIP 749255170
FUND ASSETS (ALL CLASSES) $ 198,832,457.42
Bogle Small Cap Growth Fund as of 06/30/15
TICKER SYMBOL BOGIX
CUSIP 749255188
FUND ASSETS (ALL CLASSES) $ 198,832,457.42
Bogle Small Cap Growth Fund Performance as of 06/30/15
1 Year 3 Year 5 Year 10 Year
Institutional Class -0.47% 21.31% 20.40% 8.70%
Investor Class -0.56% 21.21% 20.30% 8.59%
Russell 2000 ® Index 6.49% 17.81% 17.08% 8.40%

The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, so that an Investor's shares upon redemption, may be worth more or less than their original cost.  Certain fee waivers are in effect.  In the absence of fee waivers, total returnwould be reduced.  Current performance may be lower or higher than the performance data quoted.

For performance current to the most recent month-end, please call shareholder services at 1-877-264-5346.

Expense Ratios With Waivers and Reimbursements
Investor Shares 1.35% For the year ended 8/31/14
Institutional Shares 1.25% For the year ended 8/31/14
*Fee waivers and reimbursements are contractual and have been renewed through 12/31/15.

Expense Ratios If Waivers and Reimbursements Were Not in Place
Investor Shares 1.42% For the year ended 8/31/14
Institutional Shares 1.32% For the year ended 8/31/14

Fund Characteristics as of 06/30/15
Bogle Fund Investable Universe *
NUMBER OF STOCKS 216 1463
MEDIAN MARKET CAP (millions) $1,822 $3,238
TRAILING PRICE/EARNINGS 23.4x 24.1x
FORWARD PRICE/EARNING 18.4x 20.0x
PRICE/SALES 1.4x 2.2x
PERCENT INVESTED 98.9% 100.0%

Investable Universe is the group of stocks that are ranked by the Fund’s investment manager as possible candidates for the Fund’s portfolio. For definitions of the fund characteristics above, please refer to the glossary of technical terms.

Trailing Price/Earnings
is a measure of the price paid for a share relative to the last year of earnings per share.
Forward Price/Earnings
is a measure of the price paid for a share relative to the estimated future earnings (over the next one to two years) per share.  Estimated future earnings come from the First Call database and actual earnings may vary from this figure.
Price/Sales
is a measure of the price paid for a share relative to the last year of revenues per share.
Percent Invested
is a measure of the percentage of the fund invested in equity securities. The difference between the Percent Invested and 100% is the cash portion of the fund.

Hide glossary of technical terms

Sector Exposures as of 06/30/15
Bogle Fund Investable Universe *
COMMERCIAL SERVICES 3.1% 4.9%
COMMUNICATIONS 0.2% 0.9%
CONSUMER DURABLES 3.3% 3.1%
CONSUMER NON DURABLES 2.1% 2.7%
CONSUMER SERVICES 5.1% 7.5%
DISTRIBUTION SERVICES 2.4% 1.8%
ELECTRONIC TECHNOLOGY 7.5% 11.2%
ENERGY MINERALS 2.7% 2.2%
FINANCE 20.0% 11.0%
HEALTH SERVICES 4.3% 3.3%
HEALTH TECHNOLOGY 13.4% 12.6%
INDUSTRIAL SERVICES 5.1% 3.4%
NON-ENERGY MINERALS 2.3% 3.1%
PROCESS INDUSTRIES 2.9% 3.8%
PRODUCER MANUFACTURING 8.3% 7.0%
RETAIL TRADE 4.8% 5.8%
TECHNOLOGY SERVICES 9.3% 11.6%
TRANSPORTATION 2.4% 2.9%
UTILITIES 0.7% 1.1%
Top Ten Holdings as of 06/30/15
Percentage of Fund
Integrated Device Technology Inc. 1.6%
Health Net, Inc. 1.5%
ICON PLC 1.5%
Skechers USA Inc. 1.4%
Core-Mark Holding Company, Inc. 1.3%
Skyworks Solutions Inc. 1.3%
Marriott Vacations Worldwide Corp 1.2%
Reinsurance Group of America Inc. 1.2%
Interactive Brokers Group, Inc. 1.1%
DST Systems, Inc. 1.1%

The Fund is offered only by prospectus, which contains information about the Fund's investment objective(s), risks, and charges and expenses.  You can download the prospectus above.  This is not an offer for the Bogle funds in any jurisdiction outside the U.S. shares of the funds are not registered for sale in any jurisdiction outside the U.S. and any purchase orders received from investors outside the U.S. will be rejected. Shares of Bogle mutual funds are distributed by Foreside Funds Distributors LLC, Berwyn, PA.

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