Eagle Capital Appreciation Fund    10-Year Morningstar Rating* 4 stars out of 739 large growth funds as of June 30, 2010
Seeks long-term capital appreciation by investing in companies with undervalued assets and significant future growth potential. Goldman Sachs Asset Management, the subadvisor, assumed management of the fund in 1997.

Investment Process		Investment Team		Key Facts		Holdings		Performance		Literature
Documents available for download Eagle Capital Appreciation Fund factsheet (for the quarter ended June 30, 2010) Complete Portfolio Holdings (for the quarter ended June 30, 2010) Eagle Family of Funds Second Quarter 2010 Fund Guide (for the quarter ended June 30, 2010) The Fund Guide is a quarterly compilation of our fund fact sheets. It also includes other timely information as well as a chart showing how asset classes have performed over time. Eagle Capital Appreciation Fund Second Quarter 2010 Commentary (for the quarter ended June 30, 2010) Prospectus — All Share Classes Capital Appreciation Fund Summary Prospectus Statement of Additional Information Series Trust Annual Report Series Trust Semi-Annual Report   You will need Adobe Acrobat Reader in order to view the PDF files linked above. If you do not have Acrobat Reader installed on your computer, you may obtain it free of charge at the Adobe Web site. Click here to go to the Adobe Web site (link will open in new window).

*The Fund’s Class A shares received a three-star rating overall for the period ended June 30, 2010. This proprietary rating by Morningstar, Inc. reflects risk-adjusted performance among a total of 1,545 large growth category funds. The Fund’s Class A shares were rated two-stars among a total of 1,545 and 1,298 for the 3- and 5-year periods respectively and a four-star rating out of 739 funds for the 10-year period ended June 30, 2010, in the large growth category. These ratings are subject to change every month.

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