Marsico Focus Fund
The Focus Fund is classified as a non-diversified portfolio, 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. 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 (such as in recent
years, for example, 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 than the broader market, or could perform
differently, 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
manmade 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. In particular, the pandemic related to COVID-19 and its
variants continues to negatively affect 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 such as COVID-19
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.
Although the Fund is considered a “diversified” portfolio 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
(such as in recent years, for example, 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 than the broader market, or
could perform differently, 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 manmade 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. In particular,
the pandemic related to COVID-19 and its variants continues to negatively
affect 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 such as COVID-19 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. Investments
in medium-capitalization or midcap 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” portfolio 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
(such as in recent years, for example, 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 than the broader market, or
could perform differently, 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 manmade 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. In particular,
the pandemic related to COVID-19 and its variants continues to negatively
affect 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 such as COVID-19 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. Although the Fund is considered a
“diversified” portfolio 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 (such as in recent years, for
example, 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 than the broader market, or could perform
differently, 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 manmade
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. In particular, the pandemic related to COVID-19
and its variants continues to negatively affect 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
such as COVID-19 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. Although the Fund is considered a “diversified”
portfolio 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 (such as, without
limitation, in recent years, the information technology, consumer
discretionary, communication services, materials, and healthcare sectors). 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 than the broader market, or
could perform differently, 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 manmade 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. In particular,
the pandemic related to COVID-19 and its variants continues to negatively
affect 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 such as COVID-19 may exacerbate other
preexisting political, social and economic risks in certain countries in ways
that may not yet be fully apparent.