0001104659-15-072218.txt : 20151022 0001104659-15-072218.hdr.sgml : 20151022 20151022172820 ACCESSION NUMBER: 0001104659-15-072218 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20151022 DATE AS OF CHANGE: 20151022 EFFECTIVENESS DATE: 20151022 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: 151171176 BUSINESS ADDRESS: STREET 1: 1235 WESTLAKES DRIVE, SUITE 100 CITY: BERWYN STATE: PA ZIP: 19312 BUSINESS PHONE: 6106763097 MAIL ADDRESS: STREET 1: 1235 WESTLAKES DRIVE, SUITE 100 CITY: BERWYN STATE: PA ZIP: 19312 FORMER COMPANY: FORMER CONFORMED NAME: TIP FUNDS DATE OF NAME CHANGE: 19970618 0001006783 S000006690 TURNER MIDCAP GROWTH FUND C000018216 Retirement TMIIX C000018217 Investor TMGFX C000063529 Institutional TMGEX 0001006783 S000006691 TURNER SMALL CAP GROWTH FUND C000018218 Investor TSCEX 0001006783 S000006692 Turner Emerging Growth Fund C000018219 Investor TMCGX C000074176 Institutional TMCOX 0001006783 S000025553 Turner Titan II Fund C000076518 Institutional TSPEX C000076519 Investor TSPCX C000078685 Class C Shares TSCCX 0001006783 S000031172 Turner Medical Sciences Long/Short C000096739 Class C TMSCX C000096740 Institutional Class TMSEX C000096741 Investor Class TMSFX 497 1 a15-21552_1497.htm 497

 

TURNER FUNDS

 

Class C

 

Supplement dated October 22, 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 AND SHOULD BE READ IN CONJUNCTION WITH THE SAI

 

Stephen Negrotti resigned as a Trustee of the Trust effective October 21, 2015.  On October 21, 2015, the Board of Trustees appointed Robert E. Turner to fill the vacancy created by Mr. Negrotti’s resignation.

 

1.                                      The entry for Mr. Negrotti on page 42 in the table under “Trustees and Officers of the Trust” is deleted and replaced with the following information:

 

Name, Address
and Age(1)

 

Position Held
with Trust and
Length of
Service(2)

 

Principal Occupation(s) during
Past 5 Years

 

Number of
Portfolios in
Complex
Overseen by
Trustee

 

Other
Directorships
Held(3)

 

 

 

 

 

 

 

 

 

Interested Trustee*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Robert E. Turner
58

 

Trustee (since 2015)** and President

 

Chairman and Chief Investment Officer (since 1990); Chief Executive Officer (since 2015), Turner.

 

5

 

None

 

*                                         Mr. Turner is deemed to be an “Interested Trustee by virtue of his relationship with Turner.

**                                  Mr. Turner previously served as a Trustee of the Trust from 1996-2010.

 

2.                                      The entry for Mr. Negrotti in the table on page 43 under “Executive Officers” is deleted and replaced with the following information:

 

Name, Address
and Age(1)

 

Position Held
with Trust and
Length of
Service(2)

 

Principal Occupation(s) during
Past 5 Years

 

Number of
Portfolios in
Complex
Overseen by
Trustee

 

Other
Directorships
Held(3)

 

 

 

 

 

 

 

 

 

Robert E. Turner
58

 

President (since 2015)

 

Chairman and Chief Investment Officer (since 1990); Chief Executive Officer (since 2015), Turner.

 

N/A

 

N/A

 


 

3.                                      The entry for Mr. Negrotti on page 44 is deleted and replaced with the following information:

 

Robert E. Turner.  Mr. Turner has been a Trustee since 2015.  He is the co-founder, Chairman and Chief Investment Officer of the Adviser.  Mr. Turner previously served as a Trustee of the Trust from 1996-2010 and has 34 years of finance experience.

 

4.                                      The entry for Mr. Negrotti in the table under “Fund Shares Owned By Trustees” on page 47 is deleted and replaced with the following information:

 

Name

 

Dollar Range of Fund Shares (Fund)

 

Aggregate Dollar
Range of Shares (All
Turner Funds)

Interested Trustee

 

 

 

 

Robert E. Turner(1)

 

Over $100,000 (Turner Medical Sciences Long/Short Fund)
Over $100,000 (Turner Titan II Fund)

 

Over $100,000

 

(1) Mr. Turner is an “interested person” of the Trust, as the term is defined in the 1940 Act, by virtue of his relationship with Turner.

 

5.                                      The entry for Mr. Negrotti in the table under “Compensation” on page 48 is deleted and replaced with the following information:

 

Name of Person,
Position

 

Aggregate
Compensation
From the
Trust for the
Fiscal Year
Ended
September 30,
2015

 

Pension or
Retirement
Benefits Accrued as
Part of Fund
Expenses

 

Estimated Annual
Benefits Upon
Retirement

 

Total
Compensation
From Trust and
Fund Complex
Paid to Trustees for
the Fiscal Year
Ended September
30, 2015

 

Interested Trustee

 

 

 

 

 

 

 

 

 

Robert E. Turner (1)

 

—

 

—

 

—

 

—

 

 

(1)                                 Mr. Turner is an “interested person” of the Trust, as the term is defined in the 1940 Act, by virtue of his relationship with Turner.  The Trust pays fees only to the Trustees who are not interested persons of the Trust.  Compensation of officers and interested persons of the Trust is paid by Turner.  Mr. Turner became a Trustee of the Trust effective October 21, 2015.  Mr. Turner previously served as a Trustee of the Trust from 1996-2010.

 

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.

 


 

TURNER FUNDS

 

Institutional Class

Investor Class

Retirement Class

 

Supplement dated October 22, 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 AND SHOULD BE READ IN CONJUNCTION WITH THE SAI

 

Stephen Negrotti resigned as a Trustee of the Trust effective October 21, 2015.  On October 21, 2015, the Board of Trustees appointed Robert E. Turner to fill the vacancy created by Mr. Negrotti’s resignation.

 

1.                                      The entry for Mr. Negrotti on page 49 in the table under “Trustees and Officers of the Trust” is deleted and replaced with the following information:

 

Name, Address
and Age(1)

 

Position Held
with Trust and
Length of
Service(2)

 

Principal Occupation(s) during
Past 5 Years

 

Number of
Portfolios in
Complex
Overseen by
Trustee

 

Other
Directorships
Held(3)

 

 

 

 

 

 

 

 

 

Interested Trustee*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Robert E. Turner
58

 

Trustee (since 2015)** and President

 

Chairman and Chief Investment Officer (since 1990); Chief Executive Officer (since 2015), Turner.

 

5

 

None

 

*                                         Mr. Turner is deemed to be an “Interested Trustee by virtue of his relationship with Turner.

**                                  Mr. Turner previously served as a Trustee of the Trust from 1996-2010.

 

2.                                      The entry for Mr. Negrotti in the table on page 50 under “Executive Officers” is deleted and replaced with the following information:

 

Name, Address
and Age(1)

 

Position Held
with Trust and
Length of
Service(2)

 

Principal Occupation(s) during
Past 5 Years

 

Number of
Portfolios in
Complex
Overseen by
Trustee

 

Other
Directorships
Held(3)

 

 

 

 

 

 

 

 

 

Robert E. Turner
58

 

President (since 2015)

 

Chairman and Chief Investment Officer (since 1990); Chief Executive Officer (since 2015), Turner.

 

N/A

 

N/A

 


 

3.                                      The entry for Mr. Negrotti on page 51 is deleted and replaced with the following information:

 

Robert E. Turner.  Mr. Turner has been a Trustee since 2015.  He is the co-founder, Chairman and Chief Investment Officer of the Adviser.  Mr. Turner previously served as a Trustee of the Trust from 1996-2010 and has 34 years of finance experience.

 

4.                                      The entry for Mr. Negrotti in the table under “Fund Shares Owned By Trustees” on page 54 is deleted and replaced with the following information:

 

Name

 

Dollar Range of Fund Shares (Fund)

 

Aggregate Dollar
Range of Shares (All
Turner Funds)

Interested Trustee

 

 

 

 

Robert E. Turner(1)

 

Over $100,000 (Turner Emerging Growth Fund)
Over $100,000 (Turner Medical Sciences Long/Short Fund)
Over $100,000 (Turner Midcap Growth Fund)
Over $100,000 (Turner Small Cap Growth Fund)
Over $100,000 (Turner Titan II Fund)

 

Over $100,000

 

(1) Mr. Turner is an “interested person” of the Trust, as the term is defined in the 1940 Act, by virtue of his relationship with Turner.

 

5.                                      The entry for Mr. Negrotti in the table under “Compensation” on page 55 is deleted and replaced with the following information:

 

Name of Person,
Position

 

Aggregate
Compensation
From the
Trust for the
Fiscal Year
Ended
September 30,
2015

 

Pension or
Retirement
Benefits Accrued as
Part of Fund
Expenses

 

Estimated Annual
Benefits Upon
Retirement

 

Total
Compensation
From Trust and
Fund Complex
Paid to Trustees for
the Fiscal Year
Ended September
30, 2015

 

Interested Trustee

 

 

 

 

 

 

 

 

 

Robert E. Turner (1)

 

—

 

—

 

—

 

—

 

 

(1)                                 Mr. Turner is an “interested person” of the Trust, as the term is defined in the 1940 Act, by virtue of his relationship with Turner.  The Trust pays fees only to the Trustees who are not interested persons of the Trust.  Compensation of officers and interested persons of the Trust is paid by Turner.  Mr. Turner became a Trustee of the Trust effective October 21, 2015.  Mr. Turner previously served as a Trustee of the Trust from 1996-2010.

 

PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.