Normally, the Westport Fund invests primarily in undervalued common stocks of mid capitalization companies. A mid-capitalization company is defined as
having a market value between $2 and $10 billion.

The Westport Fund will opportunistically invest in securities of companies with both larger and smaller market capitalizations, but expects the median market
capitalization of the Fund to be in the mid capitalization range.

The Westport Fund considers several factors as part of its analysis for determining value, primarily the potential for capital appreciation and secondarily the potential for current income. However, the companies in which the Westport Fund invests typically do not distribute a meaningful level of earnings as dividends. Consequently, a company’s potential for capital appreciation receives much greater emphasis than current income.

Investment Risk. An investment in either Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest.

Stock Market Risk. Investing in the stock market is risky because equity securities fluctuate in value, often based upon factors unrelated to the intrinsic value of the issuer. These issues may be due to political, economic or general
market circumstances. Other factors may affect a single company or industry, but not the broader market. Because securities’ values fluctuate, when you sell your
investment in a Fund you may receive more or less money than you originally invested.

Small and Mid Capitalization Companies. Investing in the Westport Fund and the Westport Select Cap Fund involves the risks of investing in small and mid capitalization companies, which generally involve greater risk and volatility than investing in larger, more established companies.
Not FDIC Insured. Your investment in a Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.