Strategy. To achieve its objective, the Fund invests in equity securities of approximately 25 to 30 companies that satisfy the investment criteria described below. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of companies meeting the criteria for quality and growth as determined by the Funds investment adviser, Jensen Investment Management, Inc. (the Adviser). The Adviser considers a company to be a growth company if it is determined by the Adviser to have above-average potential for growth in revenue, earnings, cash flow, or other similar criteria. Additionally, the Adviser seeks companies that display positive performance in a variety of historical and future performance measurements, relative to the overall … Show more… To achieve its objective, the Fund invests in equity securities of approximately 25 to 30 companies that satisfy the investment criteria described below. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of companies meeting the criteria for quality and growth as determined by the Funds investment adviser, Jensen Investment Management, Inc. (the Adviser). The Adviser considers a company to be a growth company if it is determined by the Adviser to have above-average potential for growth in revenue, earnings, cash flow, or other similar criteria. Additionally, the Adviser seeks companies that display positive performance in a variety of historical and future performance measurements, relative to the overall U.S. equity market, over a period of time. Examples of such characteristics include: 1. Projected earnings growth based on expected five- to ten-year annual increase in operating earnings per share. 2. Trailing revenue growth based on annualized revenue growth for the previous five to ten years. 3. Trailing earnings growth based on annualized earnings per share growth for the previous five to ten years. 4. The companys ability to grow its business from free cash flow over an extended period of time. The list above is not exclusive and there is no single factor that is determinative of whether the Adviser considers a company to be a growth company. The Adviser considers a company to be a quality company if, as determined by the Adviser, it (i) has consistently generated a return on equity of 15% or greater for at least ten consecutive fiscal years; (ii) is in excellent financial condition; and (iii) is capable of sustaining outstanding business performance. The Advisers assessment of these quality factors includes an analysis and consideration of objective and subjective factors. Equity securities in which the Fund invests as a principal strategy consist primarily of publicly traded common stocks of U.S. companies. Generally, each company in which the Fund invests must meet the Advisers criteria for quality as defined above. These companies are selected from a universe of companies that have produced, as determined by the Adviser, long-term records of consistently high returns on shareholder equity. In order to qualify for this universe, each company must have a minimum market capitalization of $1 billion or more, and a return on equity of 15% or greater in each of the last 10 fiscal years. The Fund does not impose a maximum market capitalization. The Adviser determines on an annual basis the companies that qualify for inclusion in the Funds investable universe. Equity securities in which the Fund invests include primarily those issued by large-capitalization companies and may also include mid-capitalization companies. The Fund may purchase securities when they are priced below their intrinsic values as determined by the Adviser. The Fund may sell all or part of its position in a company when the Adviser has determined that another qualifying security has a greater opportunity to achieve the Funds objective. In addition, the Fund generally sells its position in a company when the company no longer meets one or more of the Funds investment criteria. In the event that the company no longer satisfies the investment criteria and the failure is due to an extraordinary situation that the Adviser believes will not have a material adverse impact on the companys operating performance, the Fund may continue to hold and invest in the company. The Adviser expects to include in the Funds investment portfolio at any time securities of approximately 25 to 30 primarily U.S. companies. The Fund must always own the securities of a minimum of 15 different companies in its portfolio. The Fund strives to be fully invested at all times in publicly traded common stocks and other eligible equity securities issued by companies that meet the investment criteria described in this Prospectus. The Fund is non-diversified, which means that a relatively high percentage of its assets are invested in a limited number of issuers of securities. Show less