Dunham & Associates When Performance Counts
 
Focused Large Cap Growth Fund
Class - N


Objective      Sub-Adviser Background      Tickers & Cusips      Fund Information      Minimum Investments


Fund Objective

The Fund seeks to maximize capital appreciation.


Sub-Adviser Background

The Ithaka Group, LLC is an independent, employee-owned, investment management company focused on concentrated growth equity portfolios. Ithaka is located in Bethesda, MD.


Tickers & Cusips

TickerDNFGX
Cusip265458554
Share ClassN-Shares
Fund Code114



Fund Information

Dividend FrequencyAnnual*
Capital Gains PaidDecember*
Fund Inception12/9/2011
FISCAL Year-EndOctober

* If applicable


Minimum Investments

There is no minimum initial investment on a per Fund basis for Class N shares. However, the minimum initial investment in Class N shares of the Dunham Funds, on an aggregate basis, is $100,000 for taxable accounts and $50,000 for tax-deferred accounts ("MIN"). The MIN can be waived if the investor has, in the opinion of the Adviser, adequate intent and availability of assets to reach a future level of investment among the Funds that is equal to or greater than the MIN. The MIN can also be waived by the Adviser for shareholders investing through a wrap program or similar arrangement. There is no minimum subsequent investment amount for Class N shares. If a Class N shareholder's investment in the Dunham Funds falls below the MIN for reasons other than depreciation of the investment, the investor may receive a notice from the Adviser and will be given a reasonable amount of time to cure the deficiency. If the deficiency is not cured within such time, the Adviser reserves the right to convert the account to Class A shares (on a load waived basis) or take other appropriate measures.


Investors should consider the investment objectives, risk factors, charges, and expenses of the Dunham Funds carefully before investing. This and other important information is contained in the Fund's summary prospectus and/or prospectus, which may be obtained by contacting your financial advisor, or by calling toll free (800) 442-4358. Please read prospectus materials carefully before investing or sending money. Investing involves risk, including possible loss of principal.

The N share class is offered either through brokerage platforms under contractual agreement with the registered investment adviser or through registered investment advisers as part of an advisory program, which includes advisory fees in addition to those presented in the prospectus. Dunham Class C shares have no initial sales charge or contingent deferred sales charge (CDSC). Class C shares are subject to a distribution and service fee of up to 1.00% annually. Dunham Class A shares are offered at their public offering price, which is net asset value per share plus the applicable sales charge. The sales charge varies, depending on how much you invest. There are no sales charges on reinvested dividends. See the A shares prospectus for descriptions of each Fund's front-end sales charge ("FESC") and purchase amount breakpoints, as well as ways to reduce your sales charge. Class A shares are subject to a service fee of 0.25% annually.

Foreign Investing Risk – Investing in foreign companies, or ETFs which invest in foreign companies, may involve more risks than investing in U.S. companies. These risks can increase the potential for losses in the Fund and may include, among others, currency devaluations, currency risks (fluctuations in currency exchange rates), country risks (political, diplomatic, regional conflicts, terrorism, war, social and economic instability and policies that have the effect of limiting or restricting foreign investment or the movement of assets), different trading practices, less government supervision, less publicly available information, limited trading markets and greater volatility. Additionally, investments in securities denominated in foreign currencies are subject to the risk that those currencies will decline in value relative to the U.S. dollar. A decline in the value of foreign currencies relative to the U.S. dollar will reduce the value of securities held by the Fund and denominated in those currencies.

Large Cap Stock Risk – Because the investment focus of the Fund is on large cap stocks, the value of the Fund may be more volatile than the market as a whole and can perform differently from the value of the market as a whole.

Management Risk – The Fund is subject to management risk because it is an actively managed investment portfolio. The Sub-Adviser will apply its investment techniques and risk analyses in making investment decisions for the Fund, but there is no guarantee that its decisions will produce the intended result. The successful use of hedging and risk management techniques may be adversely affected by imperfect correlation between movements in the price of the hedging vehicles and the securities being hedged.

Non-Diversification Risk – A Fund that is a non-diversified investment company means that more of the Fund's assets may be invested in the securities of a single issuer than a diversified investment company. This may make the value of the Fund's shares more susceptible to certain risk than shares of a diversified investment company. As a non-diversified fund, the Fund has a greater potential to realize losses upon the occurrence of adverse events affecting a particular issuer.

Stock Market Risk – Stock markets can be volatile. In other words, the prices of stocks can fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions. The Fund's investments may decline in value if the stock markets perform poorly.

Funds Distributed by Dunham & Associates Investment Counsel, Inc., Member FINRA/SIPC.

Dunham Funds direct shareholders (including accounts transferred from the Kelmoore Strategy Funds), please click here: http://www.dunham.com/direct

NOT FDIC INSURED
May Lose Value / Not a Deposit / No Bank Guarantee
Not Insured by any Federal Government Agency

 
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