|
Summary Prospectus
International Equity Fund AUGUST 1, 2011 Class / Ticker Symbol A / SCIIX I / STITX |
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, 2011, are incorporated by reference into
this summary prospectus.
Investment
Objective
The International Equity Fund (the “Fund”) seeks to
provide long-term 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 44
of the Fund’s prospectus and Rights of Accumulation on
page 45 of the Fund’s statement of additional
information.
Shareholder
Fees
(fees paid directly from your investment)
(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)
(expenses that you pay each year as a percentage of the value of your investment)
| A Shares | I Shares | |||||||
| Management Fees | 1.15% | 1.15% | ||||||
| Distribution (12b-1) Fees | 0.30% | None | ||||||
| Other Expenses | 0.12% | 0.12% | ||||||
| Total Annual Fund Operating Expenses | 1.57% | 1.27% | ||||||
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 | $ | 731 | $ | 1,050 | $ | 1,391 | $ | 2,349 | ||||||||
|
I Shares
|
$ | 130 | $ | 405 | $ | 701 | $ | 1,541 | ||||||||
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 80% of
the average value of its portfolio.
Principal
Investment Strategies
Under normal circumstances, the Fund invests at least 80% of its
net assets (plus any borrowings for investment purposes) in
common stocks and other equity securities of foreign companies.
The Fund’s investments are diversified among at least three
foreign countries. The Fund may also invest in exchange-traded
funds (“ETFs”). The Fund invests primarily in
developed countries, but may invest in countries with emerging
markets.
| August 1, 2011 | 1 | Summary Prospectus |
In selecting investments for purchase and sale, Certium Asset
Management LLC (“Certium” or the
“Subadviser”) seeks to identify stocks with positive
earnings trends and attractive valuations. Fundamental analysis
is used to determine those companies that are projected to have
sustainability of earnings and global industry positioning. The
Subadviser’s goal is to find companies with top management,
quality products and sound financial positions, or a history of
consistent growth in cash flows, sales, operating profits,
returns on equity and returns on invested capital. Risk controls
are in place to assist in maintaining a portfolio that is
diversified by security type and industry sector and invested
across multiple countries.
Principal
Investment Risks
You may lose money if you invest in the Fund. 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.
Equity Securities Risk: The price of equity securities
fluctuates from time to time based on changes in a
company’s financial condition or overall market and
economic conditions. As a result, the value of the Fund’s
equity securities may fluctuate drastically from day to day.
Small-Capitalization Companies Risk: Small-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 mid- or large-capitalization companies.
Small-capitalization companies may be newer or less established
and may have limited resources, products and markets, and less
liquid.
Large-Capitalization Companies 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 small-capitalization companies.
Foreign Securities 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 common stocks
may underperform other segments of the equity market or the
equity market as a whole.
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.
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.
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. Updated
performance information is available by contacting the
RidgeWorth Funds at 1-888-784-3863 or by visiting
www.ridgeworth.com.
This bar chart shows changes in the performance of the
Fund’s I Shares from year to year.*
|
Best Quarter
|
Worst Quarter | |
|
30.56%
|
-25.93% | |
|
(6/30/09)
|
(12/31/08) |
| * | The performance information shown above is based on a calendar year. The Fund’s total return for the six months ended June 30, 2011 was 6.82%. |
| Summary Prospectus | 2 | August 1, 2011 |
The following table compares the Fund’s average annual
total returns for the periods indicated with those of a broad
measure of market performance.
AVERAGE ANNUAL
TOTAL RETURNS
(for periods ended December 31, 2010)
(for periods ended December 31, 2010)
| 1 Year | 5 Years | 10 Years | ||||||||||
| A Shares Returns Before Taxes | 7.97% | 1.59% | 2.94% | |||||||||
| I Shares Returns Before Taxes | 8.30% | 1.89% | 3.28% | |||||||||
| I Shares Returns After Taxes on Distributions | 7.82% | 0.98% | 2.70% | |||||||||
| I Shares Returns After Taxes on Distributions and Sale of Fund Shares | 5.82% | 1.54% | 2.73% | |||||||||
| MSCI EAFE Index (reflects no deduction for fees, expenses or taxes) | 7.75% | 2.46% | 3.50% | |||||||||
After-tax returns are calculated using the historical highest
individual U.S. 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 (“IRAs”). After-tax returns are
shown for only the I Shares. After-tax returns for other share
classes will vary.
Investment
Adviser and Subadviser
RidgeWorth Investments is the Fund’s investment adviser
(the “Adviser”). Certium Asset Management LLC is the
Fund’s Subadviser.
Portfolio
Management
Mr. Chad Deakins, CFA, President and Chief Investment
Officer of Certium, has managed the Fund since 2000.
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 share class are
shown below, although these minimums may be reduced or waived in
some cases.
| Class | Dollar Amount | |
| A Shares | $2,000 | |
|
I Shares
|
None | |
Subsequent investments in A Shares must be made in amounts of at
least $1,000. The Fund may accept investments of smaller amounts
at its discretion. There are no minimums for subsequent
investments in I Shares.
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 IRA.
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, 2011 | 3 | Summary Prospectus |
