Month-end annualized returns as of August 31, 2023
  One Year Three Year Five Year Ten Year

MidCap Fund Expense Ratios as of March 31, 2023
Gross of fee waivers or reimbursements 1.38%
Net Expense Ratio - Effective 3/31/23 1.15%*

*The Advisor has contractually agreed to waive certain expenses through March 31, 2024. Investment performance reflects fee waivers in effect. In the absence of such waivers, the returns would be reduced. Net expense ratios are current as of the most recent prospectus and are applicable to investors.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent calendar quarter-end and month-end may be obtained by clicking the links.

Mutual fund investing involves risk. Principal loss is possible. Midcap companies tend to have limited liquidity and greater volatility than large-capitalization companies. Investments in real estate securities may involve greater risk and volatility including greater exposure to economic downturns and changes in real estate values, rents, property taxes, tax, and other laws. A real estate investment trust’s (REITs) share price may decline because of adverse developments affecting the real estate industry. Investments in American Depository Receipts (ADRs) are subject to some of the same risk associated with directly investing in securities of foreign issuers, including the risk of changes in currency exchange rates, expropriation or nationalization of assets, and the impact of political, diplomatic, or social events.

The Thompson IM Funds are distributed by Quasar Distributors, LLC.