-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UE+dIlksXK5o5/pxequAq+uTsz84+iZ8rw/MoAj7Pl6zAHrBkCQ4w1u83QZM5mJ1 xFNu2eMLjqYziSzowLKwbA== 0000950123-10-071123.txt : 20100802 0000950123-10-071123.hdr.sgml : 20100802 20100802161745 ACCESSION NUMBER: 0000950123-10-071123 CONFORMED SUBMISSION TYPE: 497K PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 20100802 DATE AS OF CHANGE: 20100802 EFFECTIVENESS DATE: 20100802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RidgeWorth Funds CENTRAL INDEX KEY: 0000883939 IRS NUMBER: 232678674 STATE OF INCORPORATION: MA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 497K SEC ACT: 1933 Act SEC FILE NUMBER: 033-45671 FILM NUMBER: 10984351 BUSINESS ADDRESS: STREET 1: 3435 STELZER RD. CITY: COLUMBUS STATE: OH ZIP: 43219 BUSINESS PHONE: 6144708000 MAIL ADDRESS: STREET 1: 3435 STELZER RD. CITY: COLUMBUS STATE: OH ZIP: 43219 FORMER COMPANY: FORMER CONFORMED NAME: RIDGEWORTH INVESTMENTS VARIABLE TRUST DATE OF NAME CHANGE: 20080414 FORMER COMPANY: FORMER CONFORMED NAME: RIDGEWORTH DATE OF NAME CHANGE: 20080414 FORMER COMPANY: FORMER CONFORMED NAME: STI CLASSIC FUNDS DATE OF NAME CHANGE: 19920929 0000883939 S000004663 RidgeWorth Mid-Cap Core Equity Fund C000012695 A Shares SCAIX C000012696 C Shares SCMEX C000012697 I Shares SAGTX 497K 1 l40185a1e497k.htm 497K e497k

     
(RIDGEWORTH LOGO)  
Summary Prospectus

Mid-Cap Core Equity Fund

AUGUST 1, 2010

Class / Ticker Symbol
A / SCAIX    C / SCMEX    I / SAGTX

 
Before you invest, you may want to review the Fund’s Prospectus and Statement of Additional Information, which contain more information about the Fund and its risks. You can find the Fund’s Prospectus, Statement of Additional Information and other information about the Fund online at www.ridgeworth.com/prospectus. You can also get this information at no cost by calling the Funds at 1-888-784-3863 or by sending an email request to info@ridgeworth.com. The current Prospectus and Statement of Additional Information, dated August 1, 2010, are incorporated by reference into this summary prospectus.
 
Investment Objective
 
The Mid-Cap Core Equity Fund (the “Fund”) seeks capital appreciation.
 
Fees and Expenses of the Fund
 
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in RidgeWorth Funds. More information about these and other discounts is available from your financial professional and in Sales Charges on page 65 of the Fund’s prospectus and Rights of Accumulation on page 84 of the Fund’s Statement of Additional Information.
 
Shareholder Fees
(fees paid directly from your investment)
 
                         
    A Shares   C Shares   I Shares
Maximum Sales Charge (load) Imposed on Purchases (as a % of offering price)     5.75%       None       None  
Maximum Deferred Sales Charge (load) (as a % of net asset value)     None       1.00%       None  
 
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
 
                         
    A Shares   C Shares   I Shares
 
Management Fees     1.00%       1.00%       1.00%  
Distribution (12b-1) Fees     0.30%       1.00%       None  
Other Expenses     0.11%       0.11%       0.11%  
             
Total Annual Fund Operating Expenses     1.41%       2.11%       1.11%  
 
Example
 
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same and you reinvest all dividends and distributions. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
 
                                 
    1 Year   3 Years   5 Years   10 Years
 
 
A Shares   $ 710     $ 996     $ 1,302     $ 2,169  
C Shares
  $ 314     $ 661     $ 1,134     $ 2,441  
I Shares
  $ 113     $ 353     $ 612     $ 1,352  
 
 
                                 
 
You would pay the following expenses if you did not redeem your shares:
 
                                 
    1 Year   3 Years   5 Years   10 Years
 
 
A Shares   $ 710     $ 996     $ 1,302     $ 2,169  
C Shares
  $ 214     $ 661     $ 1,134     $ 2,441  
I Shares
  $ 113     $ 353     $ 612     $ 1,352  
 
 
                                 
 
Portfolio Turnover
 
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 91% of the average value of its portfolio.
 
 
August 1, 2010 1 Summary Prospectus


 

Principal Investment Strategies
 
Under normal circumstances, the Fund invests at least 80% of its net assets in common stocks and other U.S. traded equity securities of mid-cap companies. U.S. traded equity securities may include American Depositary Receipts (“ADRs”). IronOak Advisors LLC (the “Subadviser”) considers mid-cap companies to be companies with market capitalizations similar to those of companies in the Russell Midcap® Index. As of July 1, 2010, the market capitalization range of companies in the Russell Midcap® Index was between approximately $684 million and $13.8 billion.
 
The Subadviser believes that a portfolio of stocks with attractive fundamental characteristics purchased at a reasonable valuation will provide above average returns over time. In selecting investments for purchase and sale, the Subadviser chooses companies that, in its opinion, offer above average stock appreciation potential relative to other companies in the same economic sector.
 
The Subadviser uses sector-specific factors to highlight companies whose characteristics are currently attractive versus market peers. The Subadviser performs fundamental research to evaluate securities for the portfolio. The Subadviser’s approach attempts to identify a well-defined “investment thesis” (what it believes a company’s prospects may be over the next 12 to 18 months) based on competitive positioning, business model, and potential catalysts and risks. The Subadviser seeks securities with an attractive risk/return profile, improving fundamentals and earnings outlook, and relative financial strength and flexibility. The Subadviser may sell a security when the investment thesis is realized, the investment thesis breaks down, or a more attractive alternative presents itself.
 
The Subadviser believes a diversified approach to portfolio management is a critical component of the overall investment process.
 
In addition, to implement its investment strategy, the Fund may buy or sell, to a limited extent, derivative instruments (such as futures, options and swaps) to use as a substitute for a purchase or sale of a position in the underlying assets and/or as part of a strategy designed to reduce exposure to other risks, such as market risk.
 
Principal Investment Risks
 
Equity Risk: Stock prices may fall over short or extended periods of time. The value of the Fund’s securities may fluctuate drastically from day to day.
 
Smaller Company Risk: Small and mid-cap stocks tend to perform differently from other segments of the equity market or the equity market as a whole and can be more volatile than stocks of a larger company. Smaller companies may be newer or less established and may have limited resources, products and markets. They may be less liquid.
 
ADR Risk: Because the Fund may invest in ADRs, it is subject to some of the same risks as direct investments in foreign companies. These include the risk that political and economic events unique to a country or region will affect those markets and their issuers.
 
Derivatives Risk: Because the Fund may invest in derivatives, it is exposed to additional volatility and potential loss. Losses on investments in certain types of derivatives may exceed the Fund’s initial investment.
 
A Fund share is not a bank deposit and it is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
 
Performance
 
The bar chart and the performance table that follow illustrate the risks and volatility of an investment in the Fund. The Fund’s past performance (before and after taxes) does not indicate how the Fund will perform in the future.
 
This bar chart shows the changes in performance of the Fund’s I Shares from year to year.*
 
(BAR CHART)
 
     
Best Quarter
  Worst Quarter
23.24%
  -27.09%
(12/31/01)
  (12/31/08)
 
The performance information shown above is based on a calendar year. The Fund’s total return from 1/1/10 to 6/30/10 was -2.36%.
 
This table compares the Fund’s average annual total returns for the periods indicated with those of a broad measure of market performance. These returns reflect applicable sales charges and assume shareholders redeem all of their shares at the end of the period indicated. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Your actual after-tax returns will depend on your tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for
 
 
Summary Prospectus 2 August 1, 2010


 

only the I Shares. After-tax returns for other classes will vary.
 
                         
    1 Year   5 Years   10 Years
 
 
A Shares Returns Before Taxes     27.17%       -0.38%       0.25%  
 
 
C Shares Returns Before Taxes     32.87%       0.12%       0.19%  
 
 
I Shares Returns Before Taxes     35.19%       1.12%       1.23%  
 
 
I Shares Returns After Taxes on Distributions     35.04%       0.09%       0.13%  
 
 
I Shares Returns After Taxes on Distributions and Sale of Fund Shares     23.03%       0.91%       0.72%  
 
 
Russell Midcap® Index (reflects no deduction for fees, expenses or taxes)     40.48%       2.43%       4.98%  
 
 
                         
 
Updated performance information is available by contacting the RidgeWorth Funds at 1-888-784-3863, or by visiting www.ridgeworth.com.
 
Investment Adviser and Subadviser
 
RidgeWorth Investments is the Fund’s investment adviser. IronOak Advisors LLC is the Fund’s subadviser.
 
Portfolio Management
 
Mr. Charles B. Arrington, CFA, Director of the Subadviser, has managed the Fund since August 2008 after having co-managed the Fund since January 2007.
 
Purchasing and Selling Your Shares
 
You may purchase or redeem Fund shares on any business day. You may purchase and redeem A and C Shares of the Fund through financial institutions or intermediaries that are authorized to place transactions in Fund shares for their customers. Please contact your financial institution or intermediary directly and follow its procedures for fund share transactions. The Fund offers I Shares to financial institutions and intermediaries for their own accounts or for the accounts of customers for whom they may act as fiduciary agent, investment adviser, or custodian. Please consult your financial institution or intermediary to find out about how to purchase I Shares of the Fund.
 
The minimum initial investment amounts for each class are shown below, although these minimums may be reduced or waived in some cases. There are no minimums for subsequent investments.
 
     
Class   Dollar Amount
 
 
A Shares   $2,000
C Shares
  $5,000 ($2,000 for IRA or other tax qualified accounts)
I Shares
  None
 
 
     
 
Tax Information
 
The Fund’s distributions are generally taxable, and will be taxed as ordinary income or capital gains, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or an individual retirement account.
 
Payments to Broker-Dealers and Other Financial Intermediaries
 
If you purchase shares of the Fund through a financial intermediary, such as a broker-dealer or investment adviser, the Fund, the Adviser or the Distributor may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other financial intermediary and your salesperson to recommend the Fund over another investment. Ask your financial intermediary or visit your financial intermediary’s website for more information.
 
 
August 1, 2010 3 Summary Prospectus


 

 
 
 
 
 
RFSUM-MCC-0810

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