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The Fund seeks to provide positive returns in rising and falling market environments.
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Westchester Capital Management, Inc. is an independent investment
management firm specializing in equity strategies that include investing in companies involved in mergers
and acquisitions. It is estimated that westchester has participated in more than 2,000 mergers and is the Sub-Adviser for
the Dunham Monthly Distribution Fund.
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| DCMDX |
| 265458638 |
| C-Shares |
| 211 |
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| Monthly |
| December* |
| 12/26/2000 |
| October |
* If applicable
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For Class C shares, the initial minimum investment amount for regular accounts is $5,000, and for taxdeferred
and certain tax efficient accounts (such as Roth IRAs) is $2,000. The minimum subsequent
investment is $100. An account fee of $15 annually will be charged for all non-retirement accounts with a
balance below $2,500. The account fee will not be charged if the balance falls below $2,500 due solely to
depreciation of the investment. The fee is waived if your total investment amount in all Funds combined is
$50,000 or more. There is no minimum initial investment for employee benefit plans, mutual fund
platform platforms, supermarket programs, associations, and individual retirement accounts. The
minimum subsequent investment in the Trust is $100 and there is no minimum subsequent investment for
any Fund. The Trust reserves the right at any time to vary the initial and subsequent investment
minimums.
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Investors should consider the investment objectives, risk factors, charges, and expenses of
the Dunham Funds carefully before investing. This and other important information is contained
in the Fund's summary prospectus and/or prospectus, which may be obtained by contacting your
financial advisor, or by calling toll free (800) 442-4358. Please read prospectus materials
carefully before investing or sending money. Investing involves risk, including possible
loss of principal.
The N share class is offered either through brokerage platforms under contractual
agreement with the registered investment adviser or through registered investment advisers as part
of an advisory program, which includes advisory fees in addition to those presented in the
prospectus. Dunham Class C shares have no initial sales charge or contingent deferred sales
charge (CDSC). Class C shares are subject to a distribution and service fee of up to 1.00%
annually. Dunham Class A shares are offered at their public offering price, which is net asset
value per share plus the applicable sales charge. The sales charge varies, depending on how much you invest.
There are no sales charges on reinvested dividends. See the A shares prospectus for descriptions of
each Fund's front-end sales charge ("FESC") and purchase amount breakpoints, as well as ways to
reduce your sales charge. Class A shares are subject to a service fee of 0.25% annually.
The Fund may be exposed to Derivatives Risk. When the Sub-Adviser uses leverage, short sales and other
forms of financial derivatives, such as options and futures, an investment in the Fund may be more volatile
than investments in other mutual funds. Although the intention is to use such derivatives to minimize risk
to the Fund, as well as for speculative purposes, there is the possibility that derivative strategies will
not be used or that ineffective implementation of derivative strategies or unusual market conditions could
result in significant losses to the Fund. Furthermore, the Fund may be exposed to short selling risk. If
the price of the security sold short increases between the time of the short sale and the time the Fund
covers its short position, the Fund will incur a loss. Also, the Fund is required to deposit collateral in
connection with such short sales and may have to pay a fee to borrow particular securities and will often
be obligated to pay over any dividends and accrued interest on borrowed securities. These aspects of short
selling increase the costs to the Fund and will reduce its rate of return. Additionally, the successful use
of short selling may be adversely affected by imperfect correlation between movements in the price of the
security sold short and the securities being hedged. Options are not suitable for all investors.
Options are not suitable for all investors.
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Funds Distributed by Dunham & Associates Investment Counsel, Inc., Member FINRA/SIPC.
Dunham Funds direct shareholders (including accounts transfered from the Kelmoore Strategy Funds), please click here:
http://www.dunham.com/direct
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