-----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, LfSFZWQAy+MFfP1b9InRcffILO1h8WnEhrBAq0Ce3DaE3clMUp8REtSDReB9Ivee jWUXXLM1CxyR7fDZ/UQUZg== 0000950123-10-071124.txt : 20100802 0000950123-10-071124.hdr.sgml : 20100802 20100802161747 ACCESSION NUMBER: 0000950123-10-071124 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: 10984352 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 S000004662 RidgeWorth International Equity Index Fund C000012692 A Shares SIIIX C000012694 I Shares SIEIX 497K 1 l40169a1e497k.htm 497K e497k

     
(RIDGEWORTH LOGO)  
Summary Prospectus

International Equity Index Fund

AUGUST 1, 2010

Class / Ticker Symbol
A / SIIIX    I / SIEIX

 
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 International Equity Index Fund (the “Fund”) seeks investment results that correspond to the performance of the MSCI EAFE Index (GDP Weighted) Net Dividend (the “Index”).
 
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   I Shares    
Maximum Sales Charge (load) Imposed on Purchases (as a % of offering price)     5.75%       None          
 
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
 
                         
    A Shares   I Shares    
Management Fees     0.49%       0.49%          
Distribution (12b-1) Fees     0.30%       None          
Other Expenses     0.15%       0.15%          
Acquired Fund Fees and Expenses     0.04%       0.04%          
             
Total Annual Fund Operating Expenses     0.98%       0.68%          
 
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   $ 669     $ 869     $ 1,086     $ 1,707  
I Shares
  $ 69     $ 218     $ 379     $ 847  
 
 
                                 
 
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 36% of the average value of its portfolio.
 
Principal Investment Strategies
 
Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities of foreign companies. The Fund may also invest in exchange-traded funds (“ETFs”).
 
 
August 1, 2010 1 Summary Prospectus


 

In selecting investments for purchase and sale, Certium Asset Management LLC (the “Subadviser”) uses statistical analysis in an attempt to track the Index. The Subadviser chooses companies included in the Index, which is an index of equity securities of companies located in Europe, Australasia and the Far East. While the Fund is structured to have overall investment characteristics similar to those of the Index, it selects a sample of securities within the Index using a statistical process. Therefore, the Fund will not hold all securities included in the Index.
 
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.
 
Foreign Investment Risk: Foreign securities involve special risks such as currency fluctuations, economic or financial instability, lack of timely or reliable financial information and unfavorable political or legal developments. These risks are increased for investments in emerging markets. The Fund is also subject to the risk that foreign equity securities may underperform other segments of the equity market or the equity market as a whole.
 
Foreign Currency Risk: Changes in foreign currency exchange rates will affect the value of what the fund owns and the price of the Fund’s shares. Generally, when the U.S. dollar rises in value against a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Currency trends are unpredictable and currency rates may fluctuate significantly for a number of reasons, including changes in interest rates, intervention (or failure to intervene) by U.S. or foreign governments or central banks, or by currency controls or political developments.
 
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.
 
Large Company Risk: Large cap stocks can perform differently from other segments of the equity market or the equity market as a whole. Large capitalization companies may be less flexible in evolving markets or unable to implement change as quickly as smaller capitalization companies.
 
Exchange Traded Fund Risk: The risk of owning shares of an ETF generally reflects the risk of owning the underlying securities the ETF is designed to track. Liquidity in an ETF could result in more volatility than ownership of the underlying portfolio of securities. In addition, because of ETF management expenses, compared to owning the underlying securities directly, it may be more costly to own an ETF.
 
Tracking Error Risk: In addition to the above mentioned risks, the Subadviser may not be able to match the performance of the Fund’s benchmark.
 
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
24.69%
  -21.58%
(6/30/09)
  (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 -15.99%.
 
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
 
 
Summary Prospectus 2 August 1, 2010


 

who hold their Fund shares through tax deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only the I Shares. After-tax returns for other classes will vary.
 
                         
    1 Year   5 Years   10 Years
 
 
A Shares Returns Before Taxes     21.21%       1.43%       -0.57%  
 
 
I Shares Returns Before Taxes     28.97%       2.91%       0.40%  
 
 
I Shares Returns After Taxes on Distributions     28.20%       2.28%       -0.03%  
 
 
I Shares Returns After Taxes on Distributions and Sale of Fund Shares     19.43%       2.32%       0.20%  
 
 
MSCI EAFE Index (GDP Weighted), Net Dividend (reflects no deduction for fees, expenses or taxes)     30.38%       3.30%       1.31%  
 
 
                         
 
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. Certium Asset Management LLC is the Fund’s subadviser.
 
Portfolio Management
 
Mr. Chad Deakins, CFA, President and Chief Investment Officer of the Subadviser, has co-managed the Fund since March 2005, after managing the Fund since 1999. Mr. Matthew Welden, Director of the Subadviser, has co-managed the Fund since April 2008.
 
Purchasing and Selling Your Shares
 
You may purchase or redeem Fund shares on any business day. You may purchase and redeem A 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
I Shares
  None
 
 
     
 
Tax Information
 
The Fund will distribute substantially all of its net investment income and its net realized capital gains, if any, at least annually. 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 the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies 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 intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary’s website for more information.
 
 
August 1, 2010 3 Summary Prospectus


 

 
 
 
 
 
RFSUM-IEI-0810

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