An investor should consider carefully the fund's investment objectives, risks, charges and expenses. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 800-245-9888. Please read it carefully before investing.

To view the fund performance, please go to: http://www.citynationalrochdalefunds.com/FundInformation/PerformanceMonthly

To view the fund holdings, please go to: http://www.citynationalrochdalefunds.com/Content/pdfs/quarterly_holdings.pdf

Past performance is no guarantee of future returns. Holdings are subject to change.

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets.

The Investment Manager for the fund is City National Rochdale, LLC, a subsidiary of City National Bank. The fund is distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with City National Rochdale, LLC, City National Bank, or any of their affiliates.

Investing involves risk including loss of principal. Investing in international markets carries risks such as currency fluctuation, regulatory risks, economic and political instability. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. This fund is not diversified.

As of November 30, 2015 Morningstar Category: Diversified Emerging Markets. Number of Funds in Category: 552 (2012) 614 (2013) 749 (2014) 828 (1 Year) 573 (3 Year).