Dunham Focused Large Cap Growth A (Dunham Focused Large Cap Growth) fond

The fund invests primarily in domestic and foreign growth-oriented, large capitalization or "large cap" equity securities of companies traded on U.S. stock exchanges or in the over-the-counter market. It normally invests at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in the common stock of large cap companies. The managers define large capitalization companies as those companies whose market capitalizations are equal to or greater than the smallest company in the Russell 1000® Index during the most recent 12-month period. It is non-diversified.