At an in-person meeting on September 13, 2013, the Board of Trustees of Drexel Hamilton Mutual Fund determined to approve new investment advisory arrangements for each of Drexel Hamilton Centre American Equity Fund, Drexel Hamilton Centre Global Equity Fund and Drexel Hamilton Multi-Asset Real Return Fund.

On September 14, 2013, Centre Asset Management ("Centre") acquired all of the equity interests of Drexel Hamilton Investment Partners ("DHIP"). DHIP has served as the investment adviser to each fund since its inception, and Centre has served as the sub-adviser to Drexel Hamilton Centre American Equity Fund and Drexel Hamilton Centre Global Equity Fund since the funds' inception.

Since September 14, 2013, Centre has not served as sub-adviser to Drexel Hamilton Centre American Equity Fund and Drexel Hamilton Centre Global Equity Fund. Centre will continue to perform the day-to-day portfolio management of the funds. There was no change in portfolio managers of such funds as a result of the acquisition. Effective as of September 14, 2013, James A. Abate has replaced Andrew Bang as the PM of the Drexel Hamilton Mutil-Asset Real Return Fund. [SEC Filing] 

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