Knights of Columbus Large Cap Value I (Knights of Columbus Large Cap V) Fonds

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of large-capitalization companies. For purposes of this policy, a large-capitalization company is a company with a market capitalization within the range of the Bloomberg 1000 Value Total Return Index at the time of initial purchase. The equity securities in which the fund invests are primarily common stocks of U.S. companies.