Class A JCRAX | Class C JCRCX | Class I JCRIX CompleteCommodities ℠ offers comprehensive access to global commodity and commodity-equity markets Experienced and skilled commodity management Inflation-hedging potential of commodities, commodity equities & TIPS 866.759.5679 | 877.526.9298 alpsfunds.com
Bank of America Corporation ( “ Bank of America ” ) is a financial holding company that, through its subsidiaries and affiliated companies, provides banking and investment products and other financial services . Merrill Lynch, Pierce, Fenner & Smith Incorporated is a wholly-owned subsidiary of Bank of America Corporation, and a registered broker-dealer and member of FINRA and SIPC. Investment products provided by Merrill Lynch, Pierce, Fenner & Smith, Incorporated: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value The views and opinions expressed in this presentation are not necessarily those of Bank of America Corporation; Merrill Lynch, Pierce, Fenner & Smith Incorporated; or any affiliates. Nothing discussed or suggested in these materials should be construed as permission to supersede or circumvent any Bank of America, Merrill Lynch, Pierce, Fenner & Smith Incorporated policies, procedures, rules, and guidelines . Merrill Lynch, Pierce, Fenner & Smith Incorporated are not tax or legal advisors. Clients should consult a personal tax or legal advisor prior to making any tax or legal related investment decisions.
Disclaimers Investors should consider the following risk factors and special considerations associated with investing in the Jefferies Asset Management Commodity Strategy Allocation Fund, which may cause you to lose money. The Fund is considered non-diversified and can invest a greater portion of assets in securities of individual issuers than a diversified Fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified Fund. A principal risk of investing in the Fund is equity risk, which is the risk that the value of the securities held by the Fund will fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate or factors relating to specific companies in which the Fund invest. The Fund’s investments in non-U.S. issuers involve unique risks compared to investing in securities of U.S. issuers, including, among others, greater market volatility than U.S. securities and less complete financial information than for U.S. issuers. In addition, adverse political, economic or social developments could undermine the value of the Fund’s investments or prevent the Fund from realizing the full value of their investments. The CRB-EQ Indices measure the performance of equity securities of companies engaged in the production and distribution of commodities and commodity-related products. The CRB-EQ Indices do not measure the performance of direct investment in the underlying commodities and, therefore, may not move in the same direction and to the same extent as the underlying commodities. See the section “Additional Risks” in the prospectus for additional risk factors. An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other information about the Fund. For more complete information about the Fund or to obtain a prospectus, call 1-866-675-2639 or 1-877-526-9298 or visit www.jamfunds.com. Please read the prospectus carefully before investing. Above and continuing below are a description of the principal risks of the Fund’s portfolio that may adversely affect its net asset value and total return. There are other circumstances (including additional risks that are not described here) which could prevent the Fund from achieving its investment objective. It is important to read all of the disclosure information provided and to understand that you may lose money by investing in the Fund. The Jefferies Asset Management Commodity Strategy Allocation Fund is distributed by ALPS Distributors, Inc. ALPS is not affiliated with CoreCommodity Management, LLC(formerly known as Jefferies Asset Management, LLC). The Jefferies Asset Management Commodity Strategy Allocation Fund is: Not FDIC Insured - No Bank Guarantee - May Lose Value ALPS Advisors, Inc. and CoreCommodity Management, LLC are registered with the CFTC as the Commodity Pool Operator and respectively as the Commodity Trading Adviser and both are NFA members. JCI000157, expires 4/30/2013 2
Disclaimers Commodity Risk . The Fund’s investments in Commodity-Related Equities and Commodity-Linked Derivatives may subject the Fund to significantly greater volatility than investments in traditional securities and involve substantial risks, including risk of a significant portion on their principal value. The commodities markets and the prices of various commodities may fluctuate widely based on a variety of factors. Because the Fund’s performance is linked to the performance of highly volatile commodities, investors should consider purchasing shares of the Fund only as part of an overall diversified portfolio and should be willing to assume the risks of potentially significant fluctuations in the value of the Fund. Risks of Investing in Commodity-Linked Derivatives and Leverage Risk . Commodity-Linked Derivatives are subject to the risk that the market value of the Commodity-Linked Derivative itself or the market value of the underlying instrument will change in a way adverse to the Fund’s interests. In addition, such instruments may experience potentially dramatic price changes (losses) and imperfect correlations between the price of the contract and the underlying security or index. As a result, the Fund may incur larger losses or smaller gains than otherwise would be the case if the Fund invested directly in the underlying securities. A highly liquid secondary market may not exist for certain Commodity-Linked Derivatives, and there can be no assurance that one will develop. Certain derivative transactions may give rise to a form of leverage. Leverage magnifies the potential for gain and the risk of loss. Leveraging may cause the Fund to liquidate portfolio positions to satisfy its obligations or to meet segregation requirements when it may not be advantageous to do so. Counterparty Risk . In connection with the Fund’s direct and indirect investments in Commodity-Linked Derivatives, the Fund will attempt to manage its counterparty exposure so as to limit its exposure to any one counterparty. However, due to the limited number of entities that may serve as counterparties (and which the Fund believes are creditworthy) at any one time the Fund may enter into Commodity-Linked Derivative transactions with a limited number of counterparties or issued by a limited number of issuers that will act as counterparties, which may increase the Fund’s exposure to counterparty credit risk. The S&P GSCI Commodity Index, the Thomson Reuters / Jefferies CRB Index, the DB Optimum Yield (TR) represented by Deutsche Bank Liquid Commodity Total Return Index, DJ UBS Total Return Index, DJUBS Spot Index and DJUBS Excess Return Index are unmanaged indexes used as a measurement of change in commodity market conditions based on the performance of a basket of commodities. S&P 500 Index is an unmanaged index used as a measurement of change in U.S. equity markets. S&P 500 Index, S&P Global Natural Resources Index and S&P GSCI (Goldman Sachs Commodity Index) are a trademarks of Standard & Poor's, a Division of The McGraw-Hill Companies, Inc. "Thomson," "Thomson Reuters," "Reuters" and "CRB" are service marks or trademarks of Thomson Reuters (Markets) LLC, a Thomson Reuters company, or its affiliates. "Jefferies" is a service mark or trademark of Jefferies Financial Products, LLC or its affiliates. Thomson Reuters / Jefferies CRB 3 Month Forward Index replicates the constituents and weights of the TR/J CRB Index, but invests in futures contracts with more distant maturities You cannot invest directly in an index. Index sponsors are not responsible for the information herein. DB Optimum Yield (TR) represented by Deutsche Bank Liquid Commodity Total Return Index is a service mark of Deutsche Bank. DXY is the U. S. Dollar Index and is an unmanaged index used to measure changes in the US Dollar. Barclays Capital US Aggregate Bond Index is a trademark of Barclays Capital and measures changes in US Bonds. DJ-UBSCI, DJ UBS Total Return Index, DJUBS Spot Index and DJUBS Excess Return Index is a service mark of Dow Jones & Company, Inc., UBS AG, UBS Securities LLC or their affiliates and is an unmanaged index used as a measurement of change in commodity market conditions based on the performance of a basket of commodities. UBS AG's products based on the Dow Jones-UBS Commodity Index SM, are not sponsored, endorsed, sold or promoted by Dow Jones, UBS AG, or any of its respective subsidiaries or affiliates, and none of Dow Jones, UBS, or any of their respective subsidiaries or affiliates, makes any representation regarding the advisability of investing in such products. 3
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