The fund does not have sales charges on purchases or dividend reinvestments, deferred sales charges, redemption fees or exchange fees. Excessive trading restrictions may apply — see Detailed Fund Operations.

Fees represent the most current information available and are subject to change without prior notice. Fees are net of any contractual reimbursements to you. Fees and expenses are only one of several factors that should be considered when making investment decisions.

The fund seeks long-term growth of capital primarily through common stocks, preferred stocks and securities convertible into common stocks. The fund is managed using a fundamental research approach which seeks to select high quality securities selling at substantial discounts to their underlying values and holds these securities until their intrinsic value is reflected in the marketplace. The fund seeks to invest in a broad list of carefully selected reasonably priced securities rather than in securities whose prices reflect a premium resulting from current market popularity. The fund uses a growth approach.

The fund's total return will fluctuate over a wide range, consistent with its reliance on investing in stocks. Investors in the fund should have a long-term investment horizon. The fund is not a complete investment program and returns may lag the returns of a balanced portfolio with comparable risk. The fund's emphasis on multi-cap growth stocks may cause it to lag the returns of the broad U.S. stock market. The fund's strategy for outperforming its benchmark may cause it to lag the benchmark as the strategy relies on predictions and incurring trading costs through security turnover. Your investment in the fund is not a bank deposit and is not insured or guaranteed by the F.D.I.C. or any other government entity. It is possible to lose money investing in the fund and returns may not keep pace with inflation.

Data gathered from various third-party sources. Sector allocations are approximate and will vary over time.

Prior to July 2002, actual historical performance data has been adjusted for fees and/or designs for multiple manager funds that are specific to the FRS.

Other Historical Risk Measures: 5 Year Period Ending $ModifiedDate
	$fundVo.getFundName()	Range of Measure in $RangeStringCenter			Range of Measure for $RangeStringRight
Beta vs. Benchmark	$fundVo.getBetaString()%	$FeesReport.getBetaMin()%	-	$FeesReport.getBetaMax()%	$FeesReport.getAllBetaMin()%	-	$FeesReport.getAllBetaMax()%
Tracking Error vs. Benchmark	$fundVo.getTrackingErrorString()%	$FeesReport.getTrackingMin()%	-	$FeesReport.getTrackingMax()%	$FeesReport.getAllTrackingMin()%	-	$FeesReport.getAllTrackingMax()%
Highest Quarterly Return	$fundVo.getHiqtrReturnString()%	$FeesReport.getHiqtrMin()%	-	$FeesReport.getHiqtrMax()%	$FeesReport.getAllHiqtrMin()%	-	$FeesReport.getAllHiqtrMax()%
Lowest Quarterly Return	$fundVo.getLowqtrReturnString()%	$FeesReport.getLowqtrMin()%	-	$FeesReport.getLowqtrMax()%	$FeesReport.getAllLowqtrMin()%	-	$FeesReport.getAllLowqtrMax()%
Performance Alarms	$fundVo.getPerformanceAlarms()	$FeesReport.getPerfAlarmsMin()	-	$FeesReport.getPerfAlarmsMax()	$FeesReport.getAllPerfAlarmsMin()	-	$FeesReport.getAllPerfAlarmsMax()

Prior to July 2002, actual historical performance data has been adjusted for fees and/or designs for multiple manager funds that are specific to the FRS. Beta is the average percent change in the fund's return if there is a 1% change in the benchmark's return. Tracking Error is the standard deviation of the statistically unexplained difference between the fund's return and the benchmark return. Performance alarms are a statistical measure of underperformance relative to the benchmark. Multiple alarms may imply a higher risk of future underperformance.

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To see how $1,000 invested in this fund since plan/fund inception would have grown over time (based on unit value) click here.

Keep in mind that past performance does not guarantee future results. So before choosing, get objective, professional guidance on what specific funds would best fit your needs and the level of risk involved. Call the MyFRS Financial Guidance Line at 1-866-44-MyFRS (1-866-446-9377; TTY 1-866-429-2160) or visit MyFRS.com for free guidance and additional information on this investment fund, including Financial Engines' Fund Score Card and Detailed Fund Operations. These reports discuss the investment strategies and other factors that may significantly affect the fund's performance. You can also make daily account transfers or withdrawals through these phone and online resources, unless the fund has transfer restrictions.

This profile is intended for use in connection with the FRS Investment Plan, pursuant to Florida law, and is not intended for use by other investors. Sections 121.4501(8)(b)4. and 121.4501(15)(b), Florida Statutes incorporates the federal law concept of participant control, established by regulations of the U.S. Department of Labor under section 404(c) of the Employee Retirement Income Security Act of 1974. If you exercise control over the assets in your Investment Plan account, pursuant to section 404(c) regulations and all applicable laws governing the operation of the Investment Plan, no program fiduciary shall be liable for any loss to your account which results from your exercise of control.