The Crescent Funds

An investor should consider the investment objectives, risks, and charges and expenses of the Funds carefully before investing. The prospectus contains this and other information about the Funds. A copy of the prospectus is available at www.ncfunds.com or by calling Shareholder Services at 1-800-773-3863. The prospectus should be read carefully before investing.

An investment in the Funds is subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that the Funds will be successful in meeting investment objectives. Generally, the Funds will be subject to the following additional risks: corporate debt securities risk, investment advisor risk, investment strategy risk, inflation risk, interest rate and credit risk, investment-grade securities risk, lower-rated securities risk, growth securities risk, large-cap company risk, management style risk, market risk, maturity risk, municipal securities risk, new fund risk, risks related to investing in other investment companies and sector risk. More information about these risks and other risks can be found in the Funds’ prospectus.

Distributor: Capital Investment Group, Inc., Member FINRA/SIPC, 17 Glenwood Ave, Raleigh, NC 27603, (800) 773-3863.

There is no affiliation between Greenwood Capital Associates, LLC, including its principals, and Capital Investment Group, Inc.