|
Summary Prospectus
Large Cap Core Growth Stock Fund AUGUST 1, 2010 (as revised May 13, 2011) Class / Ticker Symbol A / CFVIX C / CVIBX I / CRVAX |
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 Large Cap Core Growth Stock Fund (formerly, the Large Cap
Core Equity Fund) (the “Fund”) seeks long-term capital
appreciation. As a secondary goal, the Fund also seeks current
income.
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)
(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)
(expenses that you pay each year as a percentage
of the value of your investment)
| A Shares | C Shares | I Shares | ||||||||||
| Management Fees | 0.85% | 0.85% | 0.85% | |||||||||
| Distribution (12b-1) Fees | 0.25% | 1.00% | None | |||||||||
| Other Expenses | 0.07% | 0.07% | 0.07% | |||||||||
| Acquired Fund Fees and Expenses | 0.01% | 0.01% | 0.01% | |||||||||
| Total Annual Fund Operating Expenses | 1.18% | 1.93% | 0.93% | |||||||||
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 | $ | 688 | $ | 928 | $ | 1,187 | $ | 1,924 | ||||||||
|
C Shares
|
$ | 296 | $ | 606 | $ | 1,042 | $ | 2,254 | ||||||||
|
I Shares
|
$ | 95 | $ | 296 | $ | 515 | $ | 1,143 | ||||||||
You would pay the following expenses if you did not redeem
your shares:
| 1 Year | 3 Years | 5 Years | 10 Years | |||||||||||||
| A Shares | $ | 688 | $ | 928 | $ | 1,187 | $ | 1,924 | ||||||||
|
C Shares
|
$ | 196 | $ | 606 | $ | 1,042 | $ | 2,254 | ||||||||
|
I Shares
|
$ | 95 | $ | 296 | $ | 515 | $ | 1,143 | ||||||||
| August 1, 2010 | 1 | Summary Prospectus |
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 81% of
the average value of its portfolio.
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 large cap companies. U.S. traded equity
securities may include American Depositary Receipts
(“ADRs”). Silvant Capital Management LLC (the
“Subadviser”) considers large cap companies to be
companies with market capitalizations similar to those of
companies in the S&P 500 Index. As of July 1, 2010,
the market capitalization range of companies in the S&P 500
Index was between approximately $1 billion and
$269 billion.
The Subadviser applies proprietary quantitative models to rank
stocks based on improving fundamentals, valuation, capital
deployment and efficiency and sentiment or behavior factors. The
Subadviser then uses fundamental research to select the
portfolio of stocks it believes has the best current risk/return
characteristics. In selecting investments for purchase, the
Subadviser seeks companies with strong current earnings, growth
in revenue, improving profitability, strong balance sheets,
strong current and projected business fundamentals, and
reasonable valuation. The Subadviser’s approach attempts to
identify a well-defined “investment thesis” (why it
believes the company’s current expectations will be
increased over the next 3 to 18 months) based on
competitive positioning, business model, and potential catalysts
and risks. 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 in executing a very disciplined and
objective investment process and controlling risk through a
broadly diversified portfolio.
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.
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.
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.
| Summary Prospectus | 2 | August 1, 2010 |
This bar chart shows the changes in performance of the
Fund’s I Shares from year to year.*
|
Best Quarter
|
Worst Quarter | |
|
15.73%
|
-22.03% | |
|
(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 -8.03%. |
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 only the I Shares. After-tax returns for other classes will
vary.
| 1 Year | 5 Years | 10 Years | ||||||||||
| A Shares Returns Before Taxes | 21.16% | -0.59% | 0.70% | |||||||||
| C Shares Returns Before Taxes | 26.73% | -0.14% | 0.54% | |||||||||
| I Shares Returns Before Taxes | 29.00% | 0.86% | 1.52% | |||||||||
| I Shares Returns After Taxes on Distributions | 28.72% | -0.12% | 0.84% | |||||||||
| I Shares Returns After Taxes on Distributions and Sale of Fund Shares | 19.15% | 0.75% | 1.21% | |||||||||
| S&P 500 Index (reflects no deduction for fees, expenses or taxes) | 26.46% | 0.42% | -0.95% | |||||||||
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.
Silvant Capital Management LLC is the Fund’s subadviser.
Portfolio
Management
Mr. Christopher Guinther, Managing Director of the
Subadviser, Mr. Joe Ransom, CFA, Managing Director of the
Subadviser, Mr. Michael A. Sansoterra, Managing Director of
the Subadviser, and Mr. Sandeep Bhatia, PhD, CFA, Director
of the Subadviser, have co-managed the Fund since February 2011.
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 |
