Important information

Important risk information

International and emerging markets investing involves certain risks and increased volatility not associated with investing solely in the US. These risks include currency fluctuations, economic or financial instability, lack of timely or reliable financial information or unfavorable political or legal developments. The Funds may invest in securities issued by smaller companies which typically involves greater risk than investing in larger companies. Also, the Funds may invest in limited geographic areas and/or sectors which may result in greater market volatility. In addition the Funds may invest in derivatives. Derivatives involve special risks different from, and potentially greater than, the risks associated with investing directly in securities and may result in greater losses. The Funds may be subject to frequent trading which may result in a turnover rate of 100% or more.

All Asset Fund

The All Asset Fund may invest in derivatives and commodities. Investing in commodities entails additional risks including instability regarding control and jurisdiction of governments, international companies and other entities. The Fund is subject to investment company and pooled vehicles risk, allocation risk, leverage risk, interest rate risk, private equity risk and high yield securities risk. An investment in pooled vehicles, including closed-end funds, trusts, and ETFs, may involve paying a premium at the time of purchase or receiving a discounted price at the time of sale. Private equity investing generally has less publicly available information for investors. Investments in high yield securities may offer more attractive returns but also greater risk that a particular security may default. The Fund may invest in affiliated underlying funds and has contractually agreed to reduce or waive the Fund’s management fee to limit the combined management fees paid to the adviser.

Dividend & Income Builder Fund

The Dividend & Income Builder Fund may invest in illiquid securities and is subject to investment company and pooled vehicles risk, interest rate risk, credit/default risk and high yield securities risk. An investment in pooled vehicles, including closed-end funds, trusts, and ETFs, may involve paying a premium at the time of purchase or receiving a discounted price at the time of sale. The Fund is subject to interest rate risk which is the risk that debt securities in the Fund’s portfolio will decline in value because of increases in market interest rates. Credit risk refers to the bond issuers ability to make timely payments of principal and interest. Investments in high yield securities may offer more attractive returns but also greater risk that a particular security may default.

Global Technology Fund

The Global Technology Fund’s returns may be considerably more volatile than a fund that does not invest in technology companies. Technology companies may react similarly to certain market pressure and events. These may be significantly affected by short product cycles, aggressive pricing of products and services, competition from new market entrants, and obsolescence of existing technology.

High Yield Opportunities Fund

The High Yield Opportunities Fund may invest in illiquid securities and is subject to investment company risk, interest rate risk, credit/default risk and high yield securities risk. Credit risk refers to a bond issuers’ ability to make timely payments of principal and interest. High yield securities (junk bonds) may increase the risk that a security may default. The Fund’s share price and yield will be affected by interest rate movements, as the value of bond investments as well as mortgage and asset backed securities are at greater risk during periods of rising interest rates than during periods of stable or falling rates. Impact of prepayments on the value of asset backed securities may be difficult to predict. The Fund may borrow money which may adversely affect the return to shareholders of the Fund, also known as leverage risk. Unsecured bank loans may not provide the Funds with payment of principal, interest, and other amounts due. Loans or securities that are part of highly leveraged transactions involve a greater risk (including default and bankruptcy) than other investments. The Fund is non-diversified and therefore the change in value of a single holding may have a more pronounced effect on the Fund’s performance.

International Long/Short Equity Fund

The International Long/Short Equity Fund may invest in illiquid securities and is subject to short sale risk, issuer risk and leverage risk. The Fund may experience significant losses in a market where the value of both the Fund’s long and short positions are declining. When taking a short position, the Fund’s potential loss is limited only by the maximum attainable price of the security, less the price at which the Fund’s position in the security was established. The Fund is also subject to the risk that the third party to the short sale may fail to honor its contract terms, causing a loss to the Fund. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which would negatively affect the Fund’s performance. The Fund may borrow money which may adversely affect the return to shareholders, also known as leverage risk. The Fund is non-diversified and therefore the change in value of a single holding may have a more pronounced effect on the Fund’s performance.

Strategic Income Fund

The Strategic Income Fund may invest in high yield, lower rated (junk) bonds. Securities rated below investment grade generally entail greater credit, market, issuer and liquidity risk than investment grade securities. Moreover, the Fund is subject to interest rate risk which is the risk that debt securities in the Fund’s portfolio will decline in value because of increases in market interest rates. The Fund may borrow money which may adversely affect the return to shareholders, also known as leverage risk.

US Growth Opportunities Fund

The US Growth Opportunities Fund is subject to issuer risk. An issuer in which the Fund invests may perform poorly, and the value of its securities may therefore decline, which would negatively affect the Fund’s performance. The Fund is subject to concentration risk making it more vulnerable to unfavorable developments than funds that invest more broadly. The Fund may invest in securities issued by smaller companies which typically involves greater risk than investing in larger companies. It is subject to growth investing risk; growth securities may be more volatile than other securities as they are more sensitive to investor perceptions of the issuing company’s growth potential. Market values of growth securities may never reach their expected market value and may decline in price. The Fund is non-diversified and therefore the change in value of a single holding may have a more pronounced effect on the Fund’s performance.

Index definitions

Please note it is not possible to invest directly in an index or an average.

The 3-month LIBOR Index (London Interbank Offer Rate) is the interest rate participating banks offer to other banks for loans on the London market.

The Bank of America Merrill Lynch Global Broad Market Corporate Index (USD-hedged) tracks the performance in US dollars on a hedged basis of developed market investment grade corporate debt publicly issued in the major US and eurobond markets.

The Bank of America Merrill Lynch Global High Yield Index (USD-hedged) tracks the performance in US dollars on a hedged basis of Canadian Dollar, British sterling, US dollar and euro denominated developed market below investment grade corporate debt publicly issued in the major US or eurobond markets.

The Bank of America Merrill Lynch Global Corporate Index (USD-hedged) tracks the performance in US dollars on a hedged basis of developed market investment grade corporate debt publicly issued in the major US and eurobond markets.

The Bank of America Merrill Lynch US HY Master II Constrained Index contains all securities in BofA Merrill Lynch US High Yield Index but caps issuer exposure at 2%. The index tracks the performance of US dollar denominated below investment grade corporate debt publicly issued in the US domestic market.

The MSCI AC World IT Index is a free float-adjusted market capitalization weighted index designed to measure the equity market performance of the Information Technology stocks within the MSCI AC World Index.

The MSCI EAFE Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets, excluding the US and Canada.

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

The MSCI Europe Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of the developed markets in Europe.

The MSCI World Index is a free float adjusted market capitalization index that is designed to measure global developed market equity performance.

The S&P 500 Index is a broad based measurement of changes in stock market conditions based on the average of 500 widely held common stocks.

Terms

Beta is a quantitative measure of the volatility of a given stock, mutual fund, or portfolio, relative to the overall market.

Class A expense ratio is not a guaranteed number and may fluctuate. The class A expense ratios presented in this website are displayed as a percentage of average net assets. The expense ratios are unaudited and is based on annualized fiscal year-to-date results. The ratio may differ from that presented in the Fund's prospectus that is based on the Fund's then most recent previous fiscal year.

Country classifications for an individual company are based on multiple factors including legal domicile and underlying exposure of its business.

Credit quality ratings are primarily sourced from Standard & Poor's (the "S&P") but in the event that the S&P has not assigned a rating the Fund will use Moody's or Fitch. If these ratings are in conflict the most conservative rating will be used. If none of the major rating agencies have assigned a rating the Fund will assign a rating of NR (non-rated security). The ratings represent their (S&P, Moody's, Fitch) opinions as to the quality of securities they rate. Ratings are relative and subjective and are not absolute standards of quality.

Forward 12-month Price-to-Earnings (P/E) ratio is calculated using the closing price of portfolio holdings divided by the sum of the 12-month forward earnings per share. This calculation takes into account the respective weightings of portfolio holdings.

LIBOR (London Interbank Offer Rate) is the interest rate participating banks offer to other banks for loans on the London market. It is not possible to invest directly in any index.

Lipper Inc. is an independent mutual fund rating service that ranks funds in various fund categories by making comparative calculations using total returns.

Price-to-book (P/B) ratio is calculated using the closing price of portfolio holdings divided by the most recent fiscal year end book value. This calculation takes into account the respective weightings of portfolio holdings.

Net Asset Value (NAV) is the value of one share of the Fund excluding sales charge.

Morningstar ratings

The Morningstar Rating&trade for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. The Morningstar Rating is for the share class specified only; ratings for other share classes will vary. Past performance is no guarantee of future results.

For the period ending 1/31/17

The Henderson All Asset Fund Class A Shares received 3 stars overall among 396 US domiciled World Allocation funds and ETFs, 3 stars for the 3-year period among 396 funds and ETFs. Class I Shares received 3 stars overall among 396 US domiciled World Allocation funds and ETFs, 3 stars for the 3-year period among 396 funds and ETFs.

The Henderson Dividend & Income Builder Fund Class A Shares received 4 stars overall among 396 US domiciled World Allocation funds and ETFs, 4 stars for the 3-year period among 396 funds and ETFs. Class I Shares received 4 stars overall among 396 US domiciled World Allocation funds and ETFs, 4 stars for the 3-year period among 396 funds and ETFs.

The Henderson Emerging Markets Fund Class A Shares received 4 stars overall among 607 US domiciled Diversified Emerging Markets funds and ETFs, 4 stars for the 3-year period among 607 funds and ETFs, 4 stars for the 5-year period among 427 funds and ETFs. Class I Shares received 4 stars overall among 607 US domiciled Diversified Emerging Markets funds and ETFs, 4 stars for the 3-year period among 607 funds and ETFs, 4 stars for the 5-year period among 427 funds and ETFs.

The Henderson European Focus Fund Class A Shares received 3 stars overall among 90 US domiciled Europe Stock funds and ETFs, 2 stars for the 3-year period among 90 funds and ETFs, 3 stars for the 5-year period among 80 funds and ETFs, and 4 stars for the 10-year period among 59 funds and ETFs. Class I Shares received 3 stars overall among 90 US domiciled Europe Stock funds and ETFs, 2 stars for the 3-year period among 90 funds and ETFs, 3 stars for the 5-year period among 80 funds and ETFs, and 4 stars for the 10-year period among 59 funds and ETFs.

The Henderson Global Equity Income Fund Class A Shares received 5 stars overall among 274 US domiciled Foreign Large Value funds and ETFS, 5 stars for the 3-year period among 274 funds and ETFs, 5 stars for the 5-year period among 223 funds and ETFs, 5 stars for the 10-year period among 139 funds and ETFs. Class I Shares received 5 stars overall among 274 US domiciled Foreign Large Value funds and ETFs, 5 stars for the 3-year period among 274 funds and ETFs, 5 stars for the 5-year period among 223 funds, 5 stars for the 10-year period among 139 funds and ETFs.

The Henderson Global Technology Fund Class A Shares received 3 stars overall among 196 US domiciled Technology funds and ETFs, 2 stars for the 3-year period among 196 funds and ETFs, 2 stars for the 5-year period among 186 funds and ETFs, and 3 stars for the 10-year period among 144 funds and ETFs. Class I Shares received 2 stars overall among 196 US domiciled Technology funds and ETFs, 2 stars for the 3-year period among 196 funds and ETFs, 2 stars for the 5-year period among 186 funds and ETFs, and 3 stars for the 10-year period among 144 funds and ETFs.

The Henderson High Yield Opportunities Fund Class A Shares received 5 stars overall among 603 US domiciled High Yield Bond funds and ETFs, 5 stars for the 3-year period among 603 funds and ETFs. Class I Shares received 5 stars overall among 603 US domiciled High Yield Bond funds and ETFs, 5 stars for the 3-year period among 603 funds and ETFs.

The Henderson International Opportunities Fund Class A Shares received 4 stars overall among 600 US domiciled Foreign Large Blend funds and ETFs, 3 stars for the 3-year period among 600 funds and ETFs, 4 stars for the 5-year period among 533 funds and ETFs, and 4 stars for the 10-year period among 329 funds and ETFs. Class I Shares received 4 stars overall among 600 US domiciled Foreign Large Blend funds and ETFs, 3 stars for the 3-year period among 600 funds and ETFs, 5 stars for the 5-year period among 533 funds and ETFs, and 4 stars for the 10-year period among 329 funds and ETFs.

The Henderson Strategic Income Fund Class A Shares received 4 stars overall among 315 US domiciled World Bond funds and ETFs, 5 stars for the 3-year period among 315 funds and ETFs, 5 stars for the 5-year period among 244 funds and ETFs, and 2 stars for the 10-year period among 130 funds and ETFs. Class I Shares received 5 stars overall among 315 US domiciled World Bond funds and ETFs, 5 stars for the 3-year period among 315 funds and ETFs, 5 stars for the 5-year period among 244 funds and ETFs, and 2 stars for the 10-year period among 130 funds and ETFs.

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