Morningstar Advisor - August/September 2009 - 8

Executive Editor Jerry Kerns Managing Editor Ryun Patterson Editor-at-Large Don Phillips Contributing Editors Michael Breen, Lawrence Jones, Paul Justice, Haywood Kelly, Frank O’Connor Contributors Karin Anderson, John Coumarianos, Bridget B. Hughes, Paul D. Kaplan, Bradley Kay, Jim Licato, Jacob Munoz, Ilana Polyak, Andrew Sheng Data Editor Asmaa Balah Proofreader Jennifer Gierat Art Director Teofila Gomez Associate Art Director Alexander Skoirchet Production Designer Summer Bornman Illustrator Stuart Bradford Photographers Stephen Carrera, Mark Peterman Publisher Jill Jacobs-Baar Marketing Director Leslie Banks Circulation Manager Dawn Rescigno Media Services Engineer Brian Schuneman Director of Advertising Sales Mary Uribe Regional Account Executives Erin Evans, Colleen Gregorio, Tony Lignelli, Stuart Roge Visit www.managersinvest.com/opportunity or call 800.368.4410 Morningstar, Inc. Chairman and CEO Joe Mansueto President, Equity Research Group Catherine Odelbo Vice President, Financial Communications Business Mike Barad Managing Director, Design David Williams How to Reach Morningstar Advisor Subscriber Services and Circulation magazine_custserv@morningstar.com Editorial and Letters to the Editor magazine_editor@morningstar.com Advertising magazine_adrates@morningstar.com Rate card available at http://advisor.morningstar.com/products/advisormagazine.asp Reprints and Licensing magazine_licensing@morningstar.com one smart choice Managers INVESTM ENT GROUP Mutual Funds ■ Separate Accounts ■ Investment Solutions How to Reach Morningstar Customer Service 312 384-4000 Advisor Product Sales 877 586-5405 Data Questions 312 696-6600 Morningstar Advisor is published bimonthly by Morningstar, Inc., 22 W. Washington St., Chicago, IL 60602. An annual subscription for delivery in the U.S. is $60. All exhibit data in this magazine is provided by Morningstar and Ibbotson Associates unless otherwise noted. Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or visit www.managersinvest.com for a free prospectus. Read it carefully before investing or sending money. Funds are distributed by Managers Distributors, Inc., member FINRA. The Funds are subject to the risks associated with investments in debt securities, such as default risk and fluctuations in the perception of the debtor’s ability to pay its creditors. Changing interest rates may adversely affect the value of an investment. An increase in interest rates typically causes the value of bonds and other fixed income securities to fall. Investment income may be subject to certain state and local taxes, and depending on your tax status, the federal alternative minimum tax. Capital gains are not exempt from federal income tax. Issuer of bonds may not be able to meet interest of principal payments when the bonds come due. Factors unique to the municipal bond market may negatively affect the value in municipal bonds. High yield bonds (also known as “junk bonds”) are subject to additional risks such as the risk of default. The use of leverage in the GW&K Municipal Enhanced Yield Fund strategy can magnify relatively small market movements into relatively larger losses for the Fund. © 2009 Morningstar. All Rights Reserved. The information contained herein: (1) is intended solely for informational purposes; (2) is proprietary to Morningstar and/or its content providers; (3) may not be copied or distributed; (4) is not warranted to be accurate, complete, or timely; and (5) does not constitute investment advice of any kind. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. “Morningstar” and the Morningstar logo are registered marks of Morningstar, Inc. Disclosure: Morningstar licenses its indexes to certain providers, including Barclays Global Investors, First Trust, Claymore, and Deutsche Bank, for use in exchange-traded funds and exchange-traded notes. These ETFs and ETNs are not sponsored, endorsed, issued, or sold by Morningstar. Morningstar does not make any representation regarding the advisability of investing in ETFs and ETNs that are based on Morningstar indexes. AD051 8 Morningstar Advisor August /September 2009

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Morningstar Advisor - August/September 2009

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