THIS SUPPLEMENT SUPERSEDES THE SUPPLEMENT DATED MARCH 9, 2017
RIDGEWORTH FUNDS
Supplement dated March 10, 2017 to the
Prospectus, Summary Prospectus and Statement of Additional Information
each dated August 1, 2016, as may be supplemented or revised
RidgeWorth Ceredex Large Cap Value Equity Fund | RidgeWorth Seix Ultra-Short Bond Fund | |
RidgeWorth Ceredex Mid-Cap Value Equity Fund | RidgeWorth Seix Floating Rate High Income Fund | |
RidgeWorth Ceredex Small Cap Value Equity Fund | RidgeWorth Seix High Income Fund | |
RidgeWorth Silvant Large Cap Growth Stock Fund | RidgeWorth Seix High Yield Fund | |
RidgeWorth Silvant Small Cap Growth Stock Fund | RidgeWorth Seix Georgia Tax-Exempt Bond Fund | |
RidgeWorth Innovative Growth Stock Fund | RidgeWorth Seix High Grade Municipal Bond Fund | |
RidgeWorth International Equity Fund | RidgeWorth Seix Investment Grade Tax-Exempt Bond Fund | |
RidgeWorth Seix Core Bond Fund | RidgeWorth Seix North Carolina Tax-Exempt Bond Fund | |
RidgeWorth Seix Corporate Bond Fund | RidgeWorth Seix Short-Term Municipal Bond Fund | |
RidgeWorth Seix Total Return Bond Fund | RidgeWorth Seix Virginia Intermediate Municipal Bond Fund | |
RidgeWorth Seix U.S. Mortgage Fund | RidgeWorth Conservative Allocation Strategy | |
RidgeWorth Seix Limited Duration Fund | RidgeWorth Growth Allocation Strategy | |
RidgeWorth Seix Short-Term Bond Fund | RidgeWorth Moderate Allocation Strategy | |
RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund |
(collectively, the Funds)
The information in this supplement updates information in, and should be read in conjunction with, the Prospectus, Summary Prospectus and SAI.
On December 14, 2016, the Board of Trustees (the Board) of RidgeWorth Funds approved an Agreement and Plan of Reorganization (the Plan of Reorganization) relating to the proposed reorganizations (the Reorganizations) of the Funds, each a series of RidgeWorth Funds, into newly created series of Virtus Asset Trust. Each Reorganization is subject to the completion of certain conditions, including approval by shareholders of the respective Fund.
Under the Plan of Reorganization, the Funds would reorganize into the following series of Virtus Asset Trust (the Acquiring Funds):
RidgeWorth Funds |
Virtus Asset Trust | |
RidgeWorth Ceredex Large Cap Value Equity Fund | Virtus Ceredex Large-Cap Value Equity Fund | |
RidgeWorth Ceredex Mid-Cap Value Equity Fund | Virtus Ceredex Mid-Cap Value Equity Fund | |
RidgeWorth Ceredex Small Cap Value Equity Fund | Virtus Ceredex Small-Cap Value Equity Fund | |
RidgeWorth Silvant Large Cap Growth Stock Fund | Virtus Silvant Large-Cap Growth Stock Fund | |
RidgeWorth Silvant Small Cap Growth Stock Fund | Virtus Silvant Small-Cap Growth Stock Fund | |
RidgeWorth Innovative Growth Stock Fund | Virtus Zevenbergen Innovative Growth Stock Fund | |
RidgeWorth International Equity Fund | Virtus WCM International Equity Fund | |
RidgeWorth Seix Core Bond Fund | Virtus Seix Core Bond Fund | |
RidgeWorth Seix Corporate Bond Fund | Virtus Seix Corporate Bond Fund | |
RidgeWorth Seix Total Return Bond Fund | Virtus Seix Total Return Bond Fund | |
RidgeWorth Seix U.S. Mortgage Fund | Virtus Seix U.S. Mortgage Fund | |
RidgeWorth Seix Limited Duration Fund | Virtus Seix Limited Duration Fund | |
RidgeWorth Seix Short-Term Bond Fund | Virtus Seix Short-Term Bond Fund | |
RidgeWorth Seix U.S. Government Securities Ultra-Short Bond Fund | Virtus Seix U.S. Government Securities Ultra-Short Bond Fund | |
RidgeWorth Seix Ultra-Short Bond Fund | Virtus Seix Ultra-Short Bond Fund | |
RidgeWorth Seix Floating Rate High Income Fund | Virtus Seix Floating Rate High Income Fund | |
RidgeWorth Seix High Income Fund | Virtus Seix High Income Fund |
RidgeWorth Funds |
Virtus Asset Trust | |
RidgeWorth Seix High Yield Fund | Virtus Seix High Yield Fund | |
RidgeWorth Seix Georgia Tax-Exempt Bond Fund | Virtus Seix Georgia Tax-Exempt Bond Fund | |
RidgeWorth Seix High Grade Municipal Bond Fund | Virtus Seix High Grade Municipal Bond Fund | |
RidgeWorth Seix Investment Grade Tax-Exempt Bond Fund |
Virtus Seix Investment Grade Tax-Exempt Bond Fund | |
RidgeWorth Seix North Carolina Tax-Exempt Bond Fund | Virtus Seix North Carolina Tax-Exempt Bond Fund | |
RidgeWorth Seix Short-Term Municipal Bond Fund | Virtus Seix Short-Term Municipal Bond Fund | |
RidgeWorth Seix Virginia Intermediate Municipal Bond Fund |
Virtus Seix Virginia Intermediate Municipal Bond Fund | |
RidgeWorth Conservative Allocation Strategy | Virtus Conservative Allocation Strategy Fund | |
RidgeWorth Growth Allocation Strategy | Virtus Growth Allocation Strategy Fund | |
RidgeWorth Moderate Allocation Strategy | Virtus Growth Allocation Strategy Fund |
RidgeWorth Capital Management LLC (RidgeWorth), investment adviser to RidgeWorth Funds, believes the Reorganizations will benefit the Funds and their shareholders by offering them, among other things:
| the continued ability to benefit from the expertise of the same portfolio managers currently managing the Funds, other than RidgeWorth Conservative Allocation Strategy, RidgeWorth Growth Allocation Strategy and RidgeWorth Moderate Allocation Strategy, which are expected to be managed by different portfolio managers; |
| opportunities for increased asset growth and improved economies of scale, over the long term; |
| anticipated net total operating expenses for all classes of shares that, on a net basis under a contractual expense limitation agreement with RidgeWorth, are expected to be equal to or lower than current operating expenses for a two-year period from the date of the Reorganizations, although some Acquiring Funds may experience higher net total operating expenses after the two-year period unless the expense limitation agreement is continued; and |
| the ability to spread certain fixed costs (e.g., insurance costs, trustee compensation and certain legal expenses) over a larger combined asset base of Virtus Mutual Funds, which has the potential to result in a reduction in the per share expenses paid by shareholders of the Acquiring Funds over the longer term, provided variable costs decrease or stay the same as a Funds assets increase. |
Proxy materials describing the Reorganizations and the Boards considerations in approving the proposal were mailed to shareholders of record of the Funds in anticipation of a special meeting of shareholders scheduled for May 9, 2017. As a result of the Reorganizations, shareholders of a Fund would become shareholders of the respective Acquiring Fund and would receive shares of the respective Acquiring Fund equal in aggregate net asset value to the shares of the Fund they held immediately prior to the Reorganization. If the Reorganizations are approved by shareholders and consummated, a Fund shareholder who does not wish to become a shareholder of the respective Acquiring Fund may redeem shares of the Fund at any time prior to the Reorganization.
Each Reorganization may be terminated at any time before the closing date of the Reorganization by action of either the Board or the Board of Trustees of the Virtus Asset Trust.
The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of the Fund or Acquiring Fund, nor is it a solicitation of any proxy. For more information regarding the Reorganizations, please call (855) 928-4486. You can also view the Proxy Statement/Prospectus on the U.S. Securities and Exchange Commissions website at www.sec.gov.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
RFSP 178
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