Marsico Focus Fund
The Focus Fund is classified as a non-diversified mutual fund, which
means it may hold fewer securities than a diversified fund because it
is permitted to invest a greater percentage of its assets in a smaller
number of securities. Holding fewer securities increases the risk that the
value of the Fund could go down because of the poor performance of a
single investment. The Fund and the stocks and markets in which it invests
are subject to general risks that include volatility and instability,
periods of cyclical change and decline, that investors may at times avoid investments
in equity securities, and that the investment adviser may select
investments for the Fund that do not perform as anticipated. The Fund is
subject to investment style risk, which is the risk that returns from growth
stocks in which the Fund invests may underperform or be more volatile than
other asset classes or the overall stock market. While the Fund does not have a
principal investment strategy to focus its investments in any particular
sector, the Fund from time to time may have significantly more exposure than
its benchmark index to one or more sectors that appear to offer more growth
potential in current market conditions (for example, in recent years, the
information technology sector). The Fund may have little or no exposure to
certain other sectors. The Fund may face various risks associated with
investing substantially in certain sectors, such as that an individual sector
may be more volatile or perform differently than the broader market, and that
the stocks of multiple companies within a sector could simultaneously decline
in price because of an event that affects the entire sector. Technology and
other growth stocks could present additional risks in part because they often
have higher price-to-earnings multiples than other stocks because their
earnings are growing faster. If growth slows, a higher earnings multiple may
compress, potentially resulting in a sharply reduced stock price reflecting
both a lower multiple and lower profits. Also, growth stocks at times could be
perceived by investors as too expensive. Unexpected local, regional, or global
events and their aftermath, such as war; acts of terrorism; financial,
political, or social disruptions; natural, environmental, or man-made
disasters; the spread of infectious illnesses, pandemics, or other public
health issues; recessions and depressions; or other tragedies, catastrophes,
and events could have a significant impact on global economic and market
conditions and the Fund and its investments. For example, the pandemic related
to COVID-19 and its variants negatively affected the economies of countries and
companies around the world, and significantly disrupted the global securities
and commodities markets. Health crises caused by infectious diseases may
exacerbate other preexisting political, social, and economic risks in certain
countries in ways that may not yet be fully apparent.
Marsico Growth Fund
The Fund and the stocks and markets in which it invests are subject to
general risks that include volatility and instability, periods of cyclical
change and decline, that investors may at times avoid investments
in equity securities, and that the investment adviser may select
investments for the Fund that do not perform as anticipated. The Fund is
subject to investment style risk, which is the risk that returns from growth
stocks in which the Fund invests may underperform or be more volatile than
other asset classes or the overall stock market. Although the Fund is
considered a “diversified” mutual fund under applicable law, it may at times
still hold a relatively concentrated portfolio that may contain securities of
fewer issuers than the portfolios of other mutual funds. Holding a relatively
concentrated portfolio may increase the risk that the value of the Fund could
go down because of the poor performance of one or a few investments.
Additionally, while the Fund does not have a principal investment strategy to
focus its investments in any particular sector, the Fund from time to time may
have significantly more exposure than its benchmark index to one or more
sectors that appear to offer more growth potential in current market conditions
(for example, in recent years, the information technology sector). The Fund may
have little or no exposure to certain other sectors. The Fund may face various
risks associated with investing substantially in certain sectors, such as that
an individual sector may be more volatile or perform differently than the
broader market, and that the stocks of multiple companies within a sector could
simultaneously decline in price because of an event that affects the entire
sector. Technology and other growth stocks could present additional risks in
part because they often have higher price-to-earnings multiples than other
stocks because their earnings are growing faster. If growth slows, a higher
earnings multiple may compress, potentially resulting in a sharply reduced
stock price reflecting both a lower multiple and lower profits. Also, growth
stocks at times could be perceived by investors as too expensive. Unexpected
local, regional, or global events and their aftermath, such as war; acts of
terrorism; financial, political, or social disruptions; natural, environmental,
or man-made disasters; the spread of infectious illnesses, pandemics, or other
public health issues; recessions and depressions; or other tragedies,
catastrophes, and events could have a significant impact on global economic and
market conditions and the Fund and its investments. For example, the pandemic
related to COVID-19 and its variants negatively affected the economies of
countries and companies around the world, and significantly disrupted the
global securities and commodities markets. Health crises caused by infectious
diseases may exacerbate other preexisting political, social, and economic risks
in certain countries in ways that may not yet be fully apparent.
Marsico Midcap Growth Focus Fund
The Fund and the stocks and markets in which it invests are subject to
general risks that include volatility and instability, periods of cyclical
change and decline, that investors may at times avoid investments
in equity securities, and that the investment adviser may select
investments for the Fund that do not perform as anticipated. The Fund is
subject to investment style risk, which is the risk that returns from growth
stocks in which the Fund invests may underperform or be more volatile than
other asset classes or the overall stock market. Investments in
medium-capitalization or mid-cap companies, as well as any investments in
small-cap companies, can involve more risk than investments in larger companies
because medium-capitalization and smaller companies have potentially greater
sensitivity to adverse business or economic conditions. Medium-capitalization
and smaller companies may have more limited financial resources, markets or
product lines, less access to capital markets, and more limited trading in
their stocks. This can cause the prices of equity securities of these companies
to be more volatile than those of larger companies, or to decline more
significantly during market downturns than the market as a whole. Although the
Fund is considered a “diversified” mutual fund under applicable law, it may at
times still hold a relatively concentrated portfolio that may contain
securities of fewer issuers than the portfolios of other mutual funds. Holding
a relatively concentrated portfolio may increase the risk that the value of the
Fund could go down because of the poor performance of one or a few investments.
Additionally, while the Fund does not have a principal investment strategy to
focus its investments in any particular sector, the Fund from time to time may
have significantly more exposure than its benchmark index to one or more
sectors that appear to offer more growth potential in current market conditions
(for example, in recent years, the information technology sector). The Fund may
have little or no exposure to certain other sectors. The Fund may face various
risks associated with investing substantially in certain sectors, such as that
an individual sector may be more volatile or perform differently than the
broader market, and that the stocks of multiple companies within a sector could
simultaneously decline in price because of an event that affects the entire
sector. Technology and other growth stocks could present additional risks in
part because they often have higher price-to-earnings multiples than other
stocks because their earnings are growing faster. If growth slows, a higher
earnings multiple may compress, potentially resulting in a sharply reduced
stock price reflecting both a lower multiple and lower profits. Also, growth
stocks at times could be perceived by investors as too expensive. Unexpected
local, regional, or global events and their aftermath, such as war; acts of
terrorism; financial, political, or social disruptions; natural, environmental,
or man-made disasters; the spread of infectious illnesses, pandemics, or other
public health issues; recessions and depressions; or other tragedies,
catastrophes, and events could have a significant impact on global economic and
market conditions and the Fund and its investments. For example, the pandemic
related to COVID-19 and its variants negatively affected the economies of
countries and companies around the world, and significantly disrupted the
global securities and commodities markets. Health crises caused by infectious
diseases may exacerbate other preexisting political, social, and economic risks
in certain countries in ways that may not yet be fully apparent.
Marsico International Opportunities Fund
Investments in foreign securities generally, and emerging markets in particular,
involve risks that may differ from or at times exceed the risks of U.S.
investments for various reasons such as, without limitation, unstable
international, regional, or national political and economic conditions,
diplomatic developments such as sanctions, embargoes, trade tariffs, trade
limitations or trade wars, less stringent investor protections and disclosure
standards, currency fluctuations, foreign controls on investment and currency
exchange, foreign governmental control of some issuers, potential
confiscatory taxation or nationalization of companies by foreign
governments, sovereign solvency considerations, withholding taxes, a lack
of adequate company information, less liquid and more volatile exchanges
and/or markets, ineffective or detrimental government regulation, varying
accounting, auditing, disclosure, and reporting standards, political or
economic factors that may severely limit business activities, legal systems or
market practices that may permit inequitable treatment of minority and/or
non-domestic investors, immature economic structures, and less developed and
more thinly traded securities markets. In addition, the Fund and the stocks
and markets in which it invests are subject to other general risks that
include volatility and instability, periods of cyclical change and
decline, that investors may at times avoid investments in equity
securities, and that the investment adviser may select investments for the
Fund that do not perform as anticipated. The Fund is subject to investment
style risk, which is the risk that returns from growth stocks in which the Fund
invests may underperform or be more volatile than other asset classes or the
overall stock market. Although the Fund is considered a “diversified” mutual
fund under applicable law, it may at times still hold a relatively concentrated
portfolio that may contain securities of fewer issuers than the portfolios of
other mutual funds. Holding a relatively concentrated portfolio may increase
the risk that the value of the Fund could go down because of the poor
performance of one or a few investments. Furthermore, while the Fund does not
have a principal investment strategy to focus its investments in any particular
sector, the Fund from time to time may have significantly more exposure than
its benchmark index to one or more sectors that appear to offer more growth
potential in current market conditions (for example, in recent years, the
information technology sector). The Fund may have little or no exposure to
certain other sectors. The Fund may face various risks associated with
investing substantially in certain sectors, such as that an individual sector
may be more volatile or perform differently than the broader market, and that
the stocks of multiple companies within a sector could simultaneously decline
in price because of an event that affects the entire sector. Technology and
other growth stocks could present additional risks in part because they often
have higher price-to-earnings multiples than other stocks because their
earnings are growing faster. If growth slows, a higher earnings multiple may
compress, potentially resulting in a sharply reduced stock price reflecting
both a lower multiple and lower profits. Also, growth stocks at times could be
perceived by investors as too expensive. Unexpected local, regional, or global
events and their aftermath, such as war; acts of terrorism; financial,
political, or social disruptions; natural, environmental, or man-made
disasters; the spread of infectious illnesses, pandemics, or other public
health issues; recessions and depressions; or other tragedies, catastrophes,
and events could have a significant impact on global economic and market
conditions and the Fund and its investments. For example, the pandemic related
to COVID-19 and its variants negatively affected the economies of countries and
companies around the world, and has significantly disrupted the global
securities and commodities markets. Health crises caused by infectious diseases
may exacerbate other preexisting political, social, and economic risks in
certain countries in ways that may not yet be fully apparent.
Marsico Global Fund
Investments in foreign securities generally, and emerging markets in particular,
involve risks that may differ from or at times exceed the risks of U.S.
investments for various reasons such as, without limitation, unstable
international, regional, or national political and economic conditions,
diplomatic developments such as sanctions, embargoes, trade tariffs, trade
limitations or trade wars, less stringent investor protections and disclosure
standards, currency fluctuations, foreign controls on investment and currency
exchange, foreign, governmental control of some issuers, potential
confiscatory taxation or nationalization of companies by foreign
governments, sovereign solvency considerations, withholding taxes, a lack
of adequate company information, less liquid and more volatile exchanges
and/or markets, ineffective or detrimental government regulation, varying
accounting, auditing, disclosure, and reporting standards, political or
economic factors that may severely limit business activities, legal systems or
market practices that may permit inequitable treatment of minority and/or
non-domestic investors, immature economic structures, and less developed and
more thinly traded securities markets. In addition, the Fund and the stocks
and markets in which it invests are subject to other general risks that
include volatility and instability, periods of cyclical change and
decline, that investors may at times avoid investments in equity
securities, and that the investment adviser may select investments for the
Fund that do not perform as anticipated. The Fund is subject to investment
style risk, which is the risk that returns from growth stocks in which the Fund
invests may underperform or be more volatile than other asset classes or the
overall stock market. Although the Fund is considered a “diversified” mutual
fund under applicable law, it may at times still hold a relatively concentrated
portfolio that may contain securities of fewer issuers than the portfolios of
other mutual funds. Holding a relatively concentrated portfolio may increase
the risk that the value of the Fund could go down because of the poor
performance of one or a few investments. Furthermore, while the Fund does not
have a principal investment strategy to focus its investments in any particular
sector, the Fund from time to time may have significantly more exposure than
its benchmark index to one or more sectors that appear to offer more growth
potential in current market conditions (for example, in recent years, the
information technology sector). The Fund
may have little or no exposure to certain other sectors. The Fund may face
various risks associated with investing substantially in certain sectors, such
as that an individual sector may be more volatile or perform differently than
the broader market, and that the stocks of multiple companies within a sector
could simultaneously decline in price because of an event that affects the
entire sector. Technology and other growth stocks could present additional
risks in part because they often have higher price-to-earnings multiples than
other stocks because their earnings are growing faster. If growth slows, a
higher earnings multiple may compress, potentially resulting in a sharply
reduced stock price reflecting both a lower multiple and lower profits. Also,
growth stocks at times could be perceived by investors as too expensive.
Unexpected local, regional, or global events and their aftermath, such as war;
acts of terrorism; financial, political, or social disruptions; natural,
environmental, or man-made disasters; the spread of infectious illnesses,
pandemics, or other public health issues; recessions and depressions; or other
tragedies, catastrophes, and events could have a significant impact on global
economic and market conditions and the Fund and its investments. For example,
the pandemic related to COVID-19 and its variants negatively affected the
economies of countries and companies around the world, and significantly
disrupted the global securities and commodities markets. Health crises caused
by infectious diseases may exacerbate other preexisting political, social, and
economic risks in certain countries in ways that may not yet be fully apparent.