0001104659-15-015299.txt : 20150228 0001104659-15-015299.hdr.sgml : 20150227 20150227170305 ACCESSION NUMBER: 0001104659-15-015299 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20150227 DATE AS OF CHANGE: 20150227 EFFECTIVENESS DATE: 20150227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TURNER FUNDS CENTRAL INDEX KEY: 0001006783 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-00641 FILM NUMBER: 15660282 BUSINESS ADDRESS: STREET 1: 1235 WESTLAKES DRIVE, SUITE 350 CITY: BERWYN STATE: PA ZIP: 19312 BUSINESS PHONE: 6106763097 MAIL ADDRESS: STREET 1: 1235 WESTLAKES DRIVE, SUITE 350 CITY: BERWYN STATE: PA ZIP: 19312 FORMER COMPANY: FORMER CONFORMED NAME: TIP FUNDS DATE OF NAME CHANGE: 19970618 0001006783 S000025553 Turner Spectrum Fund C000076518 Institutional TSPEX C000076519 Investor TSPCX 0001006783 S000031172 Turner Medical Sciences Long/Short C000096740 Institutional Class TMSEX C000096741 Investor Class TMSFX 497 1 a15-5498_2497.htm 497

 

TURNER FUNDS

 

TURNER MEDICAL SCIENCES LONG/SHORT FUND

TURNER SPECTRUM FUND

 

Institutional Class

Investor Class

 

Supplement dated February 27, 2015

to the Prospectus dated January 31, 2015

 

THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN THE PROSPECTUS.  THIS SUPPLEMENT SHOULD BE READ IN CONJUNCTION WITH THE PROSPECTUS.

 

The following changes are made to the Prospectus, effective February 27, 2015:

 

1.                          The disclosure under “Medical Sciences Long/Short Fund - Management — Portfolio Managers” on page 3 is deleted and replaced by the following:

 

Portfolio Managers

 

Michael S. Tung, MD, Senior Portfolio Manager/Global Equity Analyst, and John P. Fraunces, Jr., Portfolio Manager/Global Equity Analyst, are the co-lead portfolio managers of the Medical Sciences Long/Short Fund. Mr. Tung joined Turner in 2013. Mr. Fraunces joined Turner in 2015.

 

2.                          The disclosure under “Spectrum Fund - Management — Portfolio Managers” on pages 8-9 is deleted and replaced by the following:

 

Portfolio Managers

 

The Global Consumer Strategy is managed by co-lead portfolio managers Jason D. Schrotberger, CFA, and Christopher E. Baggini, CFA. The Global Financial Services Strategy is managed by co-lead portfolio managers Mark D. Turner and Marek Hlinka, CFA. The Global Medical Sciences Strategy is managed by co-lead portfolio managers Michael S. Tung, MD, and John P. Fraunces, Jr. The Titan Strategy is managed by co-lead portfolio managers Christopher E. Baggini, CFA, and Scott C. Swickard, CFA. The Global Resources and Infrastructure Strategy is managed by co-lead portfolio managers Scott C. Swickard, CFA, and Eric R. Turner, CFA.

 

Jason D. Schrotberger, CFA, Senior Portfolio Manager/Global Equity Analyst, joined Turner in 2001. Michael S. Tung, MD, Senior Portfolio Manager/Global Equity Analyst joined Turner in 2013. Christopher E. Baggini, CFA, Senior Portfolio Manager/Global Equity Analyst, joined Turner in 2010. Scott C. Swickard, CFA, Portfolio Manager/Global Equity Analyst, joined Turner in 2007. Eric R. Turner, CFA, Portfolio Manager/Global

 


 

Equity Analyst, joined Turner in 2009. Mark D. Turner, Senior Portfolio Manager/Global Equity Analyst, cofounded Turner in 1990. Marek Hlinka, CFA, Portfolio Manager/Global Equity Analyst, joined Turner in 2012.  John P. Fraunces, Jr., Portfolio Manager/Global Equity Analyst, joined Turner in 2015.

 

3.                          The first three paragraphs under “Portfolio Managers” on page 31 are deleted and replaced by the following:

 

The Medical Sciences Long/Short Fund is managed by a team co-led by Michael S. Tung, MD, and John P. Fraunces, Jr. The Titan Fund is managed by a team co-led by Christopher E. Baggini, CFA, and Scott C. Swickard, CFA. The Emerging Growth Fund is managed by a team co-led by Peter Niedland, CFA, and Jason D. Schrotberger, CFA. The Midcap Growth Fund is managed by a team co-led by Christopher K. McHugh and Christopher E. Baggini, CFA. The Small Cap Growth Fund is managed by a team co-led by Jason D. Schrotberger, CFA, and Peter Niedland, CFA.

 

Each Investment Strategy of the Spectrum Fund is managed by a separate team of portfolio managers. The Global Consumer Strategy is managed by a team co-led by Jason D. Schrotberger, CFA, and Christopher E. Baggini, CFA. The Global Financial Services Strategy is managed by a team co-led by Mark D. Turner and Marek Hlinka, CFA. The Global Medical Sciences Strategy is managed by a team co-led by Michael S. Tung, MD, and John P. Fraunces, Jr. The Titan Strategy is managed by a team co-led by Christopher E. Baggini, CFA, and Scott C. Swickard, CFA. The Global Resources and Infrastructure Strategy is managed by a team co-led by Scott C. Swickard, CFA, and Eric R. Turner, CFA.

 

3.                          The following disclosure is added following the fifth paragraph under “Portfolio Managers” on page 32:

 

John P. Fraunces, Jr., Portfolio Manager/Global Equity Analyst, is the co-lead portfolio manager of the Medical Sciences Long/Short Fund and the Global Medical Sciences Strategy in the Spectrum Fund. Mr. Fraunces joined Turner in 2015 and has 15 years of investment experience and an additional 5 years within the healthcare industry. Prior to joining Turner, Mr. Fraunces was portfolio manager of the Synaptic Medical Fund, L.P. from 2009 to 2015, and previously a portfolio manager at Solaris and a senior equity analyst at Gardner Lewis.

 

Marek Hlinka, CFA, Portfolio Manager/Global Equity Analyst, is the co-lead portfolio manager of the Global Financial Services Strategy in the Spectrum Fund.  Mr. Hlinka joined Turner in 2012 and has 4 years of investment experience.

 

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

 

2


 

TURNER FUNDS

 

TURNER MEDICAL SCIENCES LONG/SHORT FUND

TURNER SPECTRUM FUND

 

Institutional Class

Investor Class

 

Supplement dated February 27, 2015

to the Statement of Additional Information (“SAI”) dated January 31, 2015

 

THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN THE SAI. THIS SUPPLEMENT SHOULD BE READ IN CONJUNCTION WITH THE SAI.

 

The following changes are made to the SAI, effective February 27, 2015:

 

1.                                      The second row of the table under “Portfolio Managers — Other Accounts Managed by the Portfolio Managers — Medical Sciences Long/Short Fund” on page 36 is deleted and replaced by the following:

 

Turner Medical Sciences Long/Short Fund

 

 

 

(a)(2) Number of other accounts managed
within each category and the total assets in
the accounts managed within each category

 

(a)(3) For each category in (a)(2) number of accounts and the total assets
in the accounts with respect to which the advisory fee is based on the
performance of the account

 

 

 

(A)

 

(B)
Other

 

 

 

Registered Investment
Companies

 

Other Pooled
Investment Vehicles

 

Other Accounts

 

(a)(1) Portfolio Manager’s
Name
(as listed in the Prospectus)

 

Registered
Investment
Companies

 

Pooled
Investment
Vehicles

 

(C)
Other
Accounts

 

Number
of
Accounts

 

Total
Assets

 

Number
of
Accounts

 

Total
Assets

 

Number
of
Accounts

 

Total
Assets

 

John P. Fraunces, Jr.
(Co-Lead Manager)
as of January 31, 2015

 

0 Accounts

$0

 

0 Accounts

$0

 

0 Accounts

$0

 

0

Accounts

 

$0

 

0

Accounts

 

$0

 

0

Accounts

 

$0

 

 

2.                                      The fourth row of the table under “Portfolio Managers — Other Accounts Managed by the Portfolio Managers — Spectrum Fund” on page 37 is deleted and replaced by the following:

 


 

Turner Spectrum Fund

 

 

 

(a)(2) Number of other accounts managed
within each category and the total assets in
the accounts managed within each category

 

(a)(3) For each category in (a)(2) number of accounts and the total assets
in the accounts with respect to which the advisory fee is based on the
performance of the account

 

 

 

(A)

 

(B)
Other

 

 

 

Registered Investment
Companies

 

Other Pooled
Investment Vehicles

 

Other Accounts

 

(a)(1) Portfolio Manager’s
Name
(as listed in the Prospectus)

 

Registered
Investment
Companies

 

Pooled
Investment
Vehicles

 

(C)
Other
Accounts

 

Number
of
Accounts

 

Total
Assets

 

Number
of
Accounts

 

Total
Assets

 

Number
of
Accounts

 

Total
Assets

 

Marek Hlinka, CFA

(Co-Lead Manager, Global Financial Services Strategy)

as of January 31, 2015

 

0 Accounts

$0

 

0 Accounts

$0

 

0 Accounts

$0

 

0

Accounts

 

$0

 

0

Accounts

 

$0

 

0

Accounts

 

$0

 

 

3.                                      The third row of the table under “Portfolio Managers — Other Accounts Managed by the Portfolio Managers — Spectrum Fund” on page 38 is deleted and replaced by the following:

 

Turner Spectrum Fund

 

 

 

(a)(2) Number of other accounts managed
within each category and the total assets in
the accounts managed within each category

 

(a)(3) For each category in (a)(2) number of accounts and the total assets
in the accounts with respect to which the advisory fee is based on the
performance of the account

 

 

 

(A)

 

(B)
Other

 

 

 

Registered Investment
Companies

 

Other Pooled
Investment Vehicles

 

Other Accounts

 

(a)(1) Portfolio Manager’s
Name
(as listed in the Prospectus)

 

Registered
Investment
Companies

 

Pooled
Investment
Vehicles

 

(C)
Other
Accounts

 

Number
of
Accounts

 

Total
Assets

 

Number
of
Accounts

 

Total
Assets

 

Number
of
Accounts

 

Total
Assets

 

John P. Fraunces, Jr.

(Co-Lead Manager, Global Medical Sciences Strategy)

as of January 31, 2015

 

0 Accounts

$0

 

0 Accounts

$0

 

0 Accounts

$0

 

0

Accounts

 

$0

 

0

Accounts

 

$0

 

0

Accounts

 

$0

 

 

4.                                      The first and fourth entries on page 43, in the table “Portfolio Managers — Portfolio Manager’s Ownership of Securities in the Funds — Spectrum Fund” are deleted and replaced by the following:

 

2


 

John P. Fraunces, Jr. (as of January 31, 2015)

 

None

Marek Hlinka, CFA (as of January 31, 2015)

 

None

 

5.                                      The second entry on page 44, in the table “Portfolio Managers — Portfolio Manager’s Ownership of Securities in the Funds — Medical Sciences Long/Short Fund” is deleted and replaced by the following:

 

John P. Fraunces, Jr. (as of January 31, 2015)

 

None

 

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

 

3