Eagle Small Cap Growth Fund   10-Year Morningstar Rating* 4 stars out of 315 small growth funds as of June 30, 2010 The most appealing aspect of small companies — their small size — is also what makes them riskier investments. Those risks include price volatility, less liquidity and the threat of competition. Fund management recognizes these risks and diversifies the portfolio widely to help reduce the impact of a single holding.

Affiliated Managed Account Eagle Small Cap Growth Strategy

Investment Process		Investment Team		Key Facts		Holdings		Performance		Literature
Documents available for download Eagle Small Cap Growth 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. Prospectus — All Share Classes Small Cap Growth 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).

*For the period ended June 30, 2010, the Fund’s Class A shares are rated 3 stars overall and for the three- and five-year periods, and 4 stars for the 10-year period among a total of 666, 666, 549 and 315 funds respectively, in the small-cap growth category. These ratings are subject to change every month.

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(2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Funds with at least three years of performance history are assigned ratings from the fund's three-, five- and ten-year average annual returns (when available) and a risk factor that reflects fund performance relative to three-month Treasury bill monthly returns. Funds' returns are adjusted for fees and sales loads. Ten percent of the funds in an investment category receive five stars, 22.5% receive four stars, 35% receive three stars, 22.5% receive two stars and the bottom 10% receive one star. Investment return and principal value will vary so that investors have a gain or loss when shares are sold. Funds are rated for up to three time periods (3-, 5-, and 10-years) and these ratings are combined to produce an overall rating. Ratings may vary among share classes and are based on past performance. Past performance does not guarantee future results.