Turner Launches Spectrum Fund

Investment manager Turner Investment Partners today announced the launch of the Turner Spectrum Fund (Institutional Class: TSPEX, Investor Class: TSPCX), a no-load, open-end mutual fund that seeks capital appreciation by investing in six long/short equity strategies managed by the firm. Turner Spectrum will be the first mutual fund in the Turner Funds family to offer investors exposure to alternative strategies.

"The Turner Spectrum Fund provides the diversification benefits of a multi-manager approach by drawing on six long/short strategies managed by various teams within Turner," said Matthew D. Glaser, director of alternative strategies and principal at Turner. "Our goal is to capture in a single fund the best of Turner's alternative-investment strategies. The fund is designed to be a lower volatility alternative to other equity funds and to offer the daily pricing, liquidity, and full transparency that investors expect in a traditional mutual fund structure."

The Turner Spectrum Fund will seek to capture alpha, reduce volatility, and preserve capital in declining markets by investing in the following long/short strategies, each managed by a separate portfolio management team at Turner:

• Turner Market Neutral strategy, directed by Robert E. Turner, lead portfolio manager, investing in stocks in all stock-market sectors, with a typical allocation resulting in a market-neutral net exposure;
• Turner Long/Short Equity strategy, directed by Christopher K. McHugh, lead portfolio manager, investing in stocks in all stock-market sectors, with a focus on mid-sized and large companies globally;
• Turner Select Opportunities strategy, directed by Frank L. Sustersic, lead portfolio manager, investing primarily in small-cap stocks across all sectors;
• Turner Global Medical Sciences strategy, directed by Vijay Shankaran, lead portfolio manager, investing primarily in health-care stocks in global markets;
• Turner Global Financial Services strategy, directed by David J. Honold Jr., lead portfolio manager, investing primarily in financial stocks in global markets; and
• Turner Global Consumer strategy, directed by Jason D. Schrotberger, lead portfolio manager, investing primarily in consumer-discretionary and consumer-staples stocks in global markets.

Although each strategy's weighting in the fund will vary as a result of performance, Turner intends to rebalance each weighting equally at the end of every year.

The Institutional Class Shares of the Turner Spectrum Fund will require a minimum initial investment of $100,000, with an expense ratio initially capped at 1.95%. The Investor Class Shares will be available with a minimum initial investment of $2,500 and an expense ratio initially capped at 2.20%. The Turner Spectrum Fund will not charge investors a performance fee.

About Turner Investment Partners

Based in Berwyn, Pennsylvania, employee-owned Turner Investment Partners provides investment management services to clients including pension funds, foundations, public companies, other asset managers, financial advisors, and individuals. Founded in 1990, Turner managed more than $14 billion as of March 31, 2009, in growth, value, core, quantitative, and alternative investments in separately managed accounts and mutual funds. More information on Turner Investment Partners and the Turner Funds is available online at www.turnerinvestments.com.

The Turner Funds are distributed by SEI Investments Distribution Co., Oaks, Pennsylvania 19456.

The investor should consider the investment objectives, risks, charges and expenses carefully before investing. This and other information can be found in the prospectus. A free prospectus, which contains detailed information, including fees and expenses, and the risks associated with investing in this fund, can be obtained by calling 800.224.6312. Read the prospectus carefully before investing. Past performance is no guarantee of future results. Mutual fund investing involves risk, including potential loss of principal. In addition to the normal risks associated with investing, investments in smaller and medium-sized companies typically exhibit higher volatility.

Diversification does not eliminate the risk of experiencing investment losses. As with all investments, there are associated inherent risks. The investment risks of the Turner Spectrum Fund are increased by the fund's ability to focus its investments in one or more economic sectors, to invest in smaller and medium-capitalization companies, foreign companies, and IPOs. Also, the fund's use of short sales, option strategies, and leverage may result in significant capital loss. There can be no assurance that the strategy will be successful in limiting volatility.

The following expenses may be associated with the fund: Institutional Class expense ratio (gross) 2.15%, expense ratio (net) 1.95%; Investor Class expense ratio (gross) 2.40%, expense ratio (net) 2.20%. Turner has contractually agreed to waive fees and reimburse fund expenses to keep the fund's Net Operating Expenses of the Institutional Class and Investor Class Shares from exceeding 1.95% and 2.20%, respectively, through May 6, 2010. Turner may discontinue this arrangement at any time after May 6, 2010.