0001435109-16-002065.txt : 20160915 0001435109-16-002065.hdr.sgml : 20160915 20160915163521 ACCESSION NUMBER: 0001435109-16-002065 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20160915 DATE AS OF CHANGE: 20160915 EFFECTIVENESS DATE: 20160915 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FORUM FUNDS CENTRAL INDEX KEY: 0000315774 IRS NUMBER: 010516963 STATE OF INCORPORATION: DE FISCAL YEAR END: 0531 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-67052 FILM NUMBER: 161887500 BUSINESS ADDRESS: STREET 1: THREE CANAL PLAZA CITY: PORTLAND STATE: ME ZIP: 04101 BUSINESS PHONE: 2073472000 MAIL ADDRESS: STREET 1: FORUM FUNDS STREET 2: THREE CANAL PLAZA CITY: PORTLAND STATE: ME ZIP: 04101 FORMER COMPANY: FORMER CONFORMED NAME: FORUM FUNDS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: FAHNESTOCK DAILY INCOME FUND INC DATE OF NAME CHANGE: 19870617 FORMER COMPANY: FORMER CONFORMED NAME: DAILY INCOME EXTENSION FUND INC DATE OF NAME CHANGE: 19810607 0000315774 S000004544 Payson Total Return Fund C000012453 Payson Total Return Fund PBFDX 0000315774 S000004556 Polaris Global Value Fund C000012470 Polaris Global Value Fund PGVFX 0000315774 S000004558 Merk Hard Currency Fund C000012475 Investor Shares MERKX C000087780 Institutional Share Class MHCIX 0000315774 S000004559 Absolute Strategies Fund C000012477 Institutional Shares ASFIX C000012478 R Shares ASFAX 0000315774 S000004564 Lebenthal Lisanti Small Cap Growth Fund C000012485 Lebenthal Lisanti Small Cap Growth Fund ASCGX 0000315774 S000023115 Absolute Credit Opportunities Fund C000067392 Institutional Shares AOFOX 0000315774 S000023255 The BeeHive Fund C000068024 The BeeHive Fund BEEHX 0000315774 S000026460 Merk Absolute Return Currency Fund C000079393 Investor MABFX C000087782 Institutional Share Class MAAIX 0000315774 S000026940 Beck, Mack & Oliver Partners Fund C000081163 Beck, Mack & Oliver Partners Fund BMPEX 0000315774 S000029851 MAI Managed Volatility Fund C000091784 Institutional MAIPX C000091785 Investor DIVPX 0000315774 S000040235 LMCG Global Market Neutral Fund C000125077 Institutional Shares GMNIX C000125078 Investor Shares GMNRX 0000315774 S000040686 LMCG Global MultiCap Fund C000126163 Institutional Shares GMCIX C000126164 Investor Shares GMCRX 0000315774 S000040732 Monongahela All Cap Value Fund C000126338 Monongahela All Cap Value Fund MCMVX 0000315774 S000042249 Steinberg Select Fund C000131126 Institutional Shares STMIX C000131127 Investor Shares STMAX 0000315774 S000047486 Exceed Defined Enhancement Index Fund C000149099 Institutional Shares ENHIX C000149100 Investor Shares ENHAX 0000315774 S000047487 Exceed Defined Hedge Index Fund C000149101 Institutional Shares HEDIX C000149102 Investor Shares HEDGX 0000315774 S000047488 Exceed Defined Shield Index Fund C000149103 Institutional Shares SHIIX C000149104 Investor Shares SHIEX 0000315774 S000050284 Absolute Capital Opportunities Fund C000158767 Institutional Shares CAPOX 0000315774 S000053391 LMCG International Small Cap Fund C000167921 Institutional Shares ISMIX C000167922 Investor shares ISMRX 497 1 forum497.htm
ABSOLUTE STRATEGIES FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
August 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 32 and 33 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (888) 99-ABSOLUTE or (888) 992-2765.

PLEASE RETAIN FOR FUTURE REFERENCE.


ABSOLUTE CREDIT OPPORTUNITIES FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
August 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 32 and 33 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (888) 99-ABSOLUTE or (888) 992-2765.

PLEASE RETAIN FOR FUTURE REFERENCE.
 
 
ABSOLUTE CAPITAL OPPORTUNITIES FUND (the "Fund")

Supplement dated September 15, 2016 to the Statements of Additional Information ("SAI") dated August 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 32 and 33 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (888) 99-ABSOLUTE or (888) 992-2765.

PLEASE RETAIN FOR FUTURE REFERENCE.
 

 
BECK, MACK & OLIVER PARTNERS FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
August 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 22 and 23 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (800) 943-6786.

PLEASE RETAIN FOR FUTURE REFERENCE.


THE BEEHIVE FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
May 1, 2016, as supplemented May 6, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 17 and 18 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (866) 684-4915.

PLEASE RETAIN FOR FUTURE REFERENCE

EXCEED DEFINED SHIELD INDEX FUND,
EXCEED DEFINED HEDGE INDEX FUND, and
EXCEED DEFINED ENHANCEMENT INDEX FUND (the "Funds")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
April 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 15 and 16 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (844) 800-5092.

PLEASE RETAIN FOR FUTURE REFERENCE
 
 
LMCG GLOBAL MARKET NEUTRAL FUND,
LMCG GLOBAL MULTICAP FUND, and
LMCG INTERNATIONAL SMALL CAP FUND (the "Funds")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
August 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 23 and 24 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (877) 591-4667.

PLEASE RETAIN FOR FUTURE REFERENCE.
 
 
LEBENTHAL LISANTI SMALL CAP GROWTH FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
May 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 14 and 15 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (800) 441-7031.

PLEASE RETAIN FOR FUTURE REFERENCE.


MAI MANAGED VOLATILITY FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated December 30, 2015.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on page 19 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (877) 414-7884.

PLEASE RETAIN FOR FUTURE REFERENCE.
 
 
MERK ABSOLUTE RETURN CURRENCY FUND and
MERK HARD CURRENCY FUND (the "Funds")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
August 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 27 and 28 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (866) MERK FUND or (866) 637-5386.

PLEASE RETAIN FOR FUTURE REFERENCE.
 
MONONGAHELA ALL CAP VALUE FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated September 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 17 and 18 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (855) 392-9331.

PLEASE RETAIN FOR FUTURE REFERENCE.
 
 
PAYSON TOTAL RETURN FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
August 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 21 and 22 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (800) 805-8258.

PLEASE RETAIN FOR FUTURE REFERENCE.
 
 
POLARIS GLOBAL VALUE FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated
May 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on pages 26 and 27 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (888) 263-5594.

PLEASE RETAIN FOR FUTURE REFERENCE.
 
 
STEINBERG SELECT FUND (the "Fund")

Supplement dated September 15, 2016 to the Statement of Additional Information ("SAI") dated February 1, 2016.

The following disclosure hereby replaces the corresponding section under "Board of Trustees, Management and Service Providers" on page 17 of the SAI:

B. Principal Officers of the Trust

The officers of the Trust conduct and supervise its daily business. As of the date of this SAI, the officers of the Trust, their year of birth and their principal occupations during the past five years are as set forth below. Each officer serves until his or her death, resignation or removal and replacement. The business address of each officer is c/o Atlantic Fund Services, Three Canal Plaza, Suite 600, Portland, Maine 04101.
 
Name and
Year of Birth
Position with the Trust
Length of Time
 Served
Principal Occupation(s)
During Past 5 Years
Jessica A. Chase
Born: 1970
President; Principal Executive Officer
Since 2015
Senior Vice President, Atlantic since 2008.
Karen Shaw
 Born: 1972
Treasurer; Principal Financial Officer
Since 2008
Senior Vice President, Atlantic since 2008.
Zachary Tackett
Born: 1988
Vice President; Secretary and Anti-Money Laundering Compliance Officer
Since 2014
Counsel, Atlantic since 2014; Intern Associate, Coakley & Hyde, PLLC, 2010-2013.
Michael J. McKeen
 Born: 1971
Vice President
Since 2009
Senior Vice President, Atlantic since 2008.
Timothy Bowden
 Born: 1969
Vice President
Since 2009
Manager, Atlantic since 2008.
Geoffrey Ney
Born: 1975
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Todd Proulx
Born: 1978
Vice President
Since 2013
Manager, Atlantic since 2013; Senior Fund Accountant, Atlantic, 2008–2013.
Carlyn Edgar
Born: 1963
Vice President
Since 2008
Senior Vice President, Atlantic since 2008; Chief Compliance Officer, 2008-2016.
Dennis Mason
Born: 1967
Chief Compliance Officer
Since 2016
Fund Compliance Officer, Atlantic since 2013; Senior Specialist, Atlantic, 2011-2013; Senior Analyst, Atlantic 2008-2011.

* * *
 
For more information, please contact a Fund customer service representative toll free at
 (855) 330-7085.

PLEASE RETAIN FOR FUTURE REFERENCE.