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American Pension Investors Trust – ‘497’ on 10/22/14 – ‘EX-101.INS’

On:  Wednesday, 10/22/14, at 11:17am ET   ·   Effective:  10/22/14   ·   Accession #:  1193125-14-378360   ·   File #:  2-96538

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

10/22/14  American Pension Investors Trust  497        10/22/14   15:2.1M                                   Donnelley … Solutions/FA
          → API Efficient Frontier Value Fund ⇒ Class A Shares (ADVAX) — Class L Shares (YCVTX) — Institutional Class (APIVX)
          → Yorktown Capital Appreciation Fund ⇒ Class A Shares (APIGX) — Class L Shares (AFDDX) — Institutional Class Shares (AFAAX)
          → Yorktown Growth Fund ⇒ Class A Shares (AFGGX) — Class L Shares (APITX) — Institutional Class (APGRX)
          → Yorktown Master Allocation Fund ⇒ Class A Shares (APIFX) — Class L Shares (APILX) — Institutional Class (APMAX)
          → Yorktown Multi-Sector Bond Fund ⇒ Class A Shares (APIUX) — Class L Shares (AFFIX) — Institutional Class Shares (APIIX)
          → Yorktown Short Term Bond Fund ⇒ Class A Shares (APIMX) — Class L Shares (AFMMX) — Institutional Class (APIBX)

Definitive Material   —   Rule 497
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 497         497 - Cover Letter                                  HTML     10K 
13: R1          Document and Entity Information                     HTML     25K 
10: R2          Risk/Return Supplement - AMERICAN PENSION           HTML    116K 
                INVESTORS TRUST                                                  
12: R3          Risk/Return Detail Data - AMERICAN PENSION          HTML    368K 
                INVESTORS TRUST                                                  
14: R4          Risk/Return Detail Data                             HTML     14K 
15: XML         IDEA XML File -- Filing Summary                      XML     16K 
 8: EXCEL       IDEA Workbook of Financial Reports                  XLSX     62K 
 9: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS    442K 
 2: EX-101.INS  XBRL Instance -- apit-20141001                       XML    450K 
 4: EX-101.CAL  XBRL Calculations -- apit-20141001_cal               XML     18K 
 5: EX-101.DEF  XBRL Definitions -- apit-20141001_def                XML    608K 
 6: EX-101.LAB  XBRL Labels -- apit-20141001_lab                     XML    383K 
 7: EX-101.PRE  XBRL Presentations -- apit-20141001_pre              XML    433K 
 3: EX-101.SCH  XBRL Schema -- apit-20141001                         XSD     29K 
11: ZIP         XBRL Zipped Folder -- 0001193125-14-378360-xbrl      Zip     41K

‘EX-101.INS’   —   XBRL Instance — apit-20141001

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<p align="center" style="margin-top: 10pt; margin-bottom: 0pt;"><b>SUPPLEMENT </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Dated October 1, 2014 </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>to the </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>PROSPECTUS OF THE </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>API FUNDS </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>DATED MAY 30, 2014 </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;">The Prospectus of the API Efficient Frontier Funds, dated May 30, 2014, is amended as follows: </p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>The "Shareholder Fees" Table for each Fund has been amended to add a contingent deferred sales charge "CDSC" for Class A shares, and a footnote detailing the change, as follows: </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER GROWTH FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="58%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFGGX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APITX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APGRX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">5.75%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">None</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum deferred sales charges (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%(1)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">None</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="58%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFGGX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APITX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APGRX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">1.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.45%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.45%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.45%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.03%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.03%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.03%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.48%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">2.48%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">1.48%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.</td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER CAPITAL INCOME FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="76%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Class A    </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIGX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    AFDDX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFAAX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">5.75%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">None</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">None</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Maximum deferred sales charges (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.00%(1)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">None</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">None</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr><tr><td height="5"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td></tr><tr><td valign="top"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p align="justify" style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIGX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFDDX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFAAX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.60%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.60%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.60%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.50%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.64%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.64%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.64%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.13%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.13%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.13%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">1.87%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">2.37%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">1.37%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.</td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><p align="justify" style="margin-top: 12pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER CORE INCOME FUND (formerly the Multiple Index Fund) </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="76%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Class A    </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIMX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    AFMMX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIBX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">5.75%</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum deferred sales charge (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">1.00%(1)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr><tr><td height="5"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td></tr><tr><td valign="top"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p align="justify" style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIMX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFMMX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIBX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.70%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.70%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.70%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.89%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.89%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.89%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.26%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.26%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.26%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses Before Fee Waivers</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.85%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">2.85%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">1.85%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Fee Waivers</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">(0.29)%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">(0.29)%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">(0.29)%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (After Fee Waivers) (2)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">1.56%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">2.56%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">1.56%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.</td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER VALUE FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="76%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    ADVAX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    YCVTX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIVX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">5.75%</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum deferred sales charge (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">1.00%(1)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr><tr><td height="5"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td></tr><tr><td valign="top"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p align="justify" style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    ADVAX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    YCVTX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIVX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.90%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.90%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.90%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.90%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.68%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.68%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.68%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.04%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.04%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.04%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">1.62%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">2.52%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">1.62%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER INCOME FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="76%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    APIUX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    AFFIX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIIX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">5.75%</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum deferred sales charge (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">1.00%(1)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr><tr><td height="5"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td></tr><tr><td valign="top"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p align="justify" style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIUX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFFIX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIIX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.40%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.40%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.40%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.50%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.22%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.22%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.22%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.86%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.86%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.86%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">1.98%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">2.48%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">1.48%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>API MASTER ALLOCATION FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="58%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIFX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APILX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APMAX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">5.75%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">None</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum deferred sales charge (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%(1)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">None</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="58%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td></tr><tr><td valign="middle" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIFX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APILX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APMAX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.30%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.30%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.30%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.50%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.43%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.43%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.43%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.40%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.40%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">1.40%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">2.63%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">3.13%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">2.13%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><br/><b>ALL SECTIONS OF THE PROSPECTUS NOT SPECIFICALLY ADDRESSED IN THIS SUPPLEMENT SHALL REMAIN IN FULL FORCE AND EFFECT.</b>
</apit:SupplementTextBlock>
<rr:ShareholderFeesCaption contextRef="Duration_31May2013_30May2014S000008424_Member">
<b>Shareholder Fees</b><br/>(fees paid directly from your investment)
</rr:ShareholderFeesCaption>
<rr:OperatingExpensesCaption contextRef="Duration_31May2013_30May2014S000008424_Member">
<b>Annual Fund Operating Expenses</b><br/>(Expenses that you pay each year as a percentage of the value of your investment.)
</rr:OperatingExpensesCaption>
<rr:ExpensesDeferredChargesTextBlock contextRef="Duration_31May2013_30May2014S000008424_Member"> Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </rr:ExpensesDeferredChargesTextBlock>
<rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees contextRef="Duration_31May2013_30May2014S000008424_Member"> Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. </rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023127_Member" unitRef="pure"> 0.0575 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023126_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000127241_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumDeferredSalesChargeOverOther id="Item_2" decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023127_Member" unitRef="pure"> 0.01 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023126_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000127241_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumAccountFee id="Item_3" decimals="INF" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023127_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_4" decimals="INF" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023126_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_5" decimals="INF" contextRef="Duration_31May2013_30May2014S000008424_MemberC000127241_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023127_Member" unitRef="pure"> 0.01 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023126_Member" unitRef="pure"> 0.01 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000127241_Member" unitRef="pure"> 0.01 </rr:ManagementFeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023127_Member" unitRef="pure"> 0 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023126_Member" unitRef="pure"> 0.01 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000127241_Member" unitRef="pure"> 0 </rr:DistributionAndService12b1FeesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000127241_Member" unitRef="pure"> 0.0045 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023126_Member" unitRef="pure"> 0.0045 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023127_Member" unitRef="pure"> 0.0045 </rr:OtherExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023127_Member" unitRef="pure"> 0.0003 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023126_Member" unitRef="pure"> 0.0003 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000127241_Member" unitRef="pure"> 0.0003 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_6" decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000127241_Member" unitRef="pure"> 0.0148 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_7" decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023126_Member" unitRef="pure"> 0.0248 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_8" decimals="4" contextRef="Duration_31May2013_30May2014S000008424_MemberC000023127_Member" unitRef="pure"> 0.0148 </rr:ExpensesOverAssets>
<apit:SupplementTextBlock contextRef="Duration_31May2013_30May2014S000008424_Member">
<p align="center" style="margin-top: 10pt; margin-bottom: 0pt;"><b>SUPPLEMENT </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Dated October 1, 2014 </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>to the </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>PROSPECTUS OF THE </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>API FUNDS </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>DATED MAY 30, 2014 </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;">The Prospectus of the API Efficient Frontier Funds, dated May 30, 2014, is amended as follows: </p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>The "Shareholder Fees" Table for each Fund has been amended to add a contingent deferred sales charge "CDSC" for Class A shares, and a footnote detailing the change, as follows: </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER GROWTH FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="58%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFGGX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APITX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APGRX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">5.75%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">None</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum deferred sales charges (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%(1)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">None</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="58%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFGGX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APITX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APGRX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">1.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.45%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.45%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.45%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.03%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.03%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.03%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.48%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">2.48%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">1.48%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.</td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><br/><b>ALL SECTIONS OF THE PROSPECTUS NOT SPECIFICALLY ADDRESSED IN THIS SUPPLEMENT SHALL REMAIN IN FULL FORCE AND EFFECT.</b>
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<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008425_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008425_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumDeferredSalesChargeOverOther id="Item_9" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008425_Member" unitRef="pure"> 0.01 </rr:MaximumDeferredSalesChargeOverOther>
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<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008425_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
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<p align="center" style="margin-top: 10pt; margin-bottom: 0pt;"><b>SUPPLEMENT </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Dated October 1, 2014 </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>to the </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>PROSPECTUS OF THE </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>API FUNDS </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>DATED MAY 30, 2014 </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;">The Prospectus of the API Efficient Frontier Funds, dated May 30, 2014, is amended as follows: </p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>The "Shareholder Fees" Table for each Fund has been amended to add a contingent deferred sales charge "CDSC" for Class A shares, and a footnote detailing the change, as follows: </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER CAPITAL INCOME FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="76%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Class A    </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIGX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    AFDDX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFAAX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">5.75%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">None</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">None</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Maximum deferred sales charges (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.00%(1)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">None</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">None</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr><tr><td height="5"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td></tr><tr><td valign="top"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p align="justify" style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIGX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFDDX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFAAX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.60%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.60%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.60%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.50%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.64%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.64%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.64%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.13%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.13%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.13%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">1.87%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">2.37%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">1.37%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.</td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses.</td></tr></table><br/><b>ALL SECTIONS OF THE PROSPECTUS NOT SPECIFICALLY ADDRESSED IN THIS SUPPLEMENT SHALL REMAIN IN FULL FORCE AND EFFECT.</b>
</apit:SupplementTextBlock>
<rr:MaximumAccountFee id="Item_10" decimals="INF" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008425_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_11" decimals="INF" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008425_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_12" decimals="INF" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008425_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:ShareholderFeesCaption contextRef="Duration_31May2013_30May2014S000008425_Member">
<b>Shareholder Fees</b><br/>(fees paid directly from your investment)
</rr:ShareholderFeesCaption>
<rr:OperatingExpensesCaption contextRef="Duration_31May2013_30May2014S000008425_Member">
<b>Annual Fund Operating Expenses</b><br/>(Expenses that you pay each year as a percentage of the value of your investment.)
</rr:OperatingExpensesCaption>
<rr:ExpensesDeferredChargesTextBlock contextRef="Duration_31May2013_30May2014S000008425_Member"> Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </rr:ExpensesDeferredChargesTextBlock>
<rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees contextRef="Duration_31May2013_30May2014S000008425_Member"> Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. </rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008425_Member" unitRef="pure"> 0.006 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008425_Member" unitRef="pure"> 0.006 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008425_Member" unitRef="pure"> 0.006 </rr:ManagementFeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008425_Member" unitRef="pure"> 0.005 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008425_Member" unitRef="pure"> 0.01 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008425_Member" unitRef="pure"> 0 </rr:DistributionAndService12b1FeesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008425_Member" unitRef="pure"> 0.0064 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008425_Member" unitRef="pure"> 0.0064 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008425_Member" unitRef="pure"> 0.0064 </rr:OtherExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008425_Member" unitRef="pure"> 0.0013 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008425_Member" unitRef="pure"> 0.0013 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008425_Member" unitRef="pure"> 0.0013 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_13" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008425_Member" unitRef="pure"> 0.0187 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_14" decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008425_Member" unitRef="pure"> 0.0237 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_15" decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008425_Member" unitRef="pure"> 0.0137 </rr:ExpensesOverAssets>
<apit:SupplementTextBlock contextRef="Duration_31May2013_30May2014S000008426_Member">
<p align="center" style="margin-top: 10pt; margin-bottom: 0pt;"><b>SUPPLEMENT </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Dated October 1, 2014 </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>to the </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>PROSPECTUS OF THE </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>API FUNDS </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>DATED MAY 30, 2014 </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;">The Prospectus of the API Efficient Frontier Funds, dated May 30, 2014, is amended as follows: </p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>The "Shareholder Fees" Table for each Fund has been amended to add a contingent deferred sales charge "CDSC" for Class A shares, and a footnote detailing the change, as follows: </b></p><p align="justify" style="margin-top: 12pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER CORE INCOME FUND (formerly the Multiple Index Fund) </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="76%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Class A    </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIMX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    AFMMX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIBX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">5.75%</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum deferred sales charge (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">1.00%(1)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr><tr><td height="5"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td></tr><tr><td valign="top"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p align="justify" style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIMX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFMMX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIBX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.70%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.70%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.70%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.89%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.89%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.89%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.26%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.26%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.26%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses Before Fee Waivers</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.85%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">2.85%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">1.85%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Fee Waivers</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">(0.29)%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">(0.29)%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">(0.29)%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (After Fee Waivers) (2)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">1.56%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">2.56%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">1.56%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor.</td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><br/><b>ALL SECTIONS OF THE PROSPECTUS NOT SPECIFICALLY ADDRESSED IN THIS SUPPLEMENT SHALL REMAIN IN FULL FORCE AND EFFECT.</b>
</apit:SupplementTextBlock>
<rr:ShareholderFeesCaption contextRef="Duration_31May2013_30May2014S000008426_Member">
<b>Shareholder Fees</b><br/>(fees paid directly from your investment)
</rr:ShareholderFeesCaption>
<rr:OperatingExpensesCaption contextRef="Duration_31May2013_30May2014S000008426_Member">
<b>Annual Fund Operating Expenses</b><br/>(Expenses that you pay each year as a percentage of the value of your investment.)
</rr:OperatingExpensesCaption>
<rr:ExpensesDeferredChargesTextBlock contextRef="Duration_31May2013_30May2014S000008426_Member"> Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </rr:ExpensesDeferredChargesTextBlock>
<rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees contextRef="Duration_31May2013_30May2014S000008426_Member"> Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. </rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees>
<rr:MaximumAccountFee id="Item_16" decimals="INF" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_17" decimals="INF" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_18" decimals="INF" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="pure"> 0.0575 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumDeferredSalesChargeOverOther id="Item_19" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="pure"> 0.01 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="pure"> 0.007 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="pure"> 0.007 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="pure"> 0.007 </rr:ManagementFeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="pure"> 0.01 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="pure"> 0 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="pure"> 0 </rr:DistributionAndService12b1FeesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="pure"> 0.0089 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="pure"> 0.0089 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="pure"> 0.0089 </rr:OtherExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="pure"> 0.0026 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="pure"> 0.0026 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="pure"> 0.0026 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_20" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="pure"> 0.0185 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_21" decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="pure"> 0.0285 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_22" decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="pure"> 0.0185 </rr:ExpensesOverAssets>
<rr:FeeWaiverOrReimbursementOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="pure"> -0.0029 </rr:FeeWaiverOrReimbursementOverAssets>
<rr:FeeWaiverOrReimbursementOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="pure"> -0.0029 </rr:FeeWaiverOrReimbursementOverAssets>
<rr:FeeWaiverOrReimbursementOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="pure"> -0.0029 </rr:FeeWaiverOrReimbursementOverAssets>
<rr:NetExpensesOverAssets id="Item_23" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008426_Member" unitRef="pure"> 0.0156 </rr:NetExpensesOverAssets>
<rr:NetExpensesOverAssets id="Item_24" decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008426_Member" unitRef="pure"> 0.0256 </rr:NetExpensesOverAssets>
<rr:NetExpensesOverAssets id="Item_25" decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008426_Member" unitRef="pure"> 0.0156 </rr:NetExpensesOverAssets>
<apit:SupplementTextBlock contextRef="Duration_31May2013_30May2014S000008427_Member">
<p align="center" style="margin-top: 10pt; margin-bottom: 0pt;"><b>SUPPLEMENT </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Dated October 1, 2014 </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>to the </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>PROSPECTUS OF THE </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>API FUNDS </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>DATED MAY 30, 2014 </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;">The Prospectus of the API Efficient Frontier Funds, dated May 30, 2014, is amended as follows: </p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>The "Shareholder Fees" Table for each Fund has been amended to add a contingent deferred sales charge "CDSC" for Class A shares, and a footnote detailing the change, as follows: </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER VALUE FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="76%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    ADVAX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    YCVTX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIVX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">5.75%</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum deferred sales charge (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">1.00%(1)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr><tr><td height="5"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td></tr><tr><td valign="top"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p align="justify" style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    ADVAX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    YCVTX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIVX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.90%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.90%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.90%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.90%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.68%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.68%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.68%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.04%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.04%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.04%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">1.62%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">2.52%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">1.62%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><br/><b>ALL SECTIONS OF THE PROSPECTUS NOT SPECIFICALLY ADDRESSED IN THIS SUPPLEMENT SHALL REMAIN IN FULL FORCE AND EFFECT.</b>
</apit:SupplementTextBlock>
<rr:ShareholderFeesCaption contextRef="Duration_31May2013_30May2014S000008427_Member">
<b>Shareholder Fees</b><br/>(fees paid directly from your investment)
</rr:ShareholderFeesCaption>
<rr:OperatingExpensesCaption contextRef="Duration_31May2013_30May2014S000008427_Member">
<b>Annual Fund Operating Expenses</b><br/>(Expenses that you pay each year as a percentage of the value of your investment.)
</rr:OperatingExpensesCaption>
<rr:ExpensesDeferredChargesTextBlock contextRef="Duration_31May2013_30May2014S000008427_Member"> Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </rr:ExpensesDeferredChargesTextBlock>
<rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees contextRef="Duration_31May2013_30May2014S000008427_Member"> Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. </rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees>
<rr:MaximumAccountFee id="Item_26" decimals="INF" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008427_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_27" decimals="INF" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008427_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_28" decimals="INF" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008427_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008427_Member" unitRef="pure"> 0.0575 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008427_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008427_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumDeferredSalesChargeOverOther id="Item_29" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008427_Member" unitRef="pure"> 0.01 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008427_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008427_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008427_Member" unitRef="pure"> 0.009 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008427_Member" unitRef="pure"> 0.009 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008427_Member" unitRef="pure"> 0.009 </rr:ManagementFeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008427_Member" unitRef="pure"> 0.009 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008427_Member" unitRef="pure"> 0 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008427_Member" unitRef="pure"> 0 </rr:DistributionAndService12b1FeesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008427_Member" unitRef="pure"> 0.0068 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008427_Member" unitRef="pure"> 0.0068 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008427_Member" unitRef="pure"> 0.0068 </rr:OtherExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008427_Member" unitRef="pure"> 0.0004 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008427_Member" unitRef="pure"> 0.0004 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008427_Member" unitRef="pure"> 0.0004 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_30" decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008427_Member" unitRef="pure"> 0.0252 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_31" decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008427_Member" unitRef="pure"> 0.0162 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_32" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008427_Member" unitRef="pure"> 0.0162 </rr:ExpensesOverAssets>
<apit:SupplementTextBlock contextRef="Duration_31May2013_30May2014S000008428_Member">
<p align="center" style="margin-top: 10pt; margin-bottom: 0pt;"><b>SUPPLEMENT </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Dated October 1, 2014 </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>to the </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>PROSPECTUS OF THE </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>API FUNDS </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>DATED MAY 30, 2014 </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;">The Prospectus of the API Efficient Frontier Funds, dated May 30, 2014, is amended as follows: </p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>The "Shareholder Fees" Table for each Fund has been amended to add a contingent deferred sales charge "CDSC" for Class A shares, and a footnote detailing the change, as follows: </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>API EFFICIENT FRONTIER INCOME FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="76%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td><td width="1%" valign="bottom"></td><td width="7%"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    APIUX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>    AFFIX    </b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>    Institutional    <br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIIX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">5.75%</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">Maximum deferred sales charge (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">1.00%(1)</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom">None</td><td valign="bottom" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-right-width: 1px; border-right-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-left-width: 1px; border-top-style: solid; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr><tr><td height="5"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td><td height="5" colspan="2"></td></tr><tr><td valign="top"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td><td valign="bottom">  </td><td valign="bottom"></td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p align="justify" style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIUX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>AFFIX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIIX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.40%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.40%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.40%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.50%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">1.00%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.22%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.22%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.22%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.86%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-top-width: 1px; border-top-style: solid;">0.86%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-left-width: 1px; border-top-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-top-style: solid; border-right-style: solid;">0.86%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">1.98%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">2.48%</td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">1.48%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><br/><b>ALL SECTIONS OF THE PROSPECTUS NOT SPECIFICALLY ADDRESSED IN THIS SUPPLEMENT SHALL REMAIN IN FULL FORCE AND EFFECT.</b>
</apit:SupplementTextBlock>
<rr:ShareholderFeesCaption contextRef="Duration_31May2013_30May2014S000008428_Member">
<b>Shareholder Fees</b><br/>(fees paid directly from your investment)
</rr:ShareholderFeesCaption>
<rr:OperatingExpensesCaption contextRef="Duration_31May2013_30May2014S000008428_Member">
<b>Annual Fund Operating Expenses</b><br/>(Expenses that you pay each year as a percentage of the value of your investment.)
</rr:OperatingExpensesCaption>
<rr:ExpensesDeferredChargesTextBlock contextRef="Duration_31May2013_30May2014S000008428_Member"> Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </rr:ExpensesDeferredChargesTextBlock>
<rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees contextRef="Duration_31May2013_30May2014S000008428_Member"> Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. </rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees>
<rr:MaximumAccountFee id="Item_33" decimals="INF" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008428_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_34" decimals="INF" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008428_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_35" decimals="INF" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008428_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008428_Member" unitRef="pure"> 0.0575 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008428_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008428_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumDeferredSalesChargeOverOther id="Item_36" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008428_Member" unitRef="pure"> 0.01 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008428_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008428_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008428_Member" unitRef="pure"> 0.004 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008428_Member" unitRef="pure"> 0.004 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008428_Member" unitRef="pure"> 0.004 </rr:ManagementFeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008428_Member" unitRef="pure"> 0.01 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008428_Member" unitRef="pure"> 0.005 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008428_Member" unitRef="pure"> 0 </rr:DistributionAndService12b1FeesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008428_Member" unitRef="pure"> 0.0022 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008428_Member" unitRef="pure"> 0.0022 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008428_Member" unitRef="pure"> 0.0022 </rr:OtherExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008428_Member" unitRef="pure"> 0.0086 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008428_Member" unitRef="pure"> 0.0086 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008428_Member" unitRef="pure"> 0.0086 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_37" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000008428_Member" unitRef="pure"> 0.0198 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_38" decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000008428_Member" unitRef="pure"> 0.0248 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_39" decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000008428_Member" unitRef="pure"> 0.0148 </rr:ExpensesOverAssets>
<apit:SupplementTextBlock contextRef="Duration_31May2013_30May2014S000025174_Member">
<p align="center" style="margin-top: 10pt; margin-bottom: 0pt;"><b>SUPPLEMENT </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Dated October 1, 2014 </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>to the </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>PROSPECTUS OF THE </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>API FUNDS </b></p><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>DATED MAY 30, 2014 </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;">The Prospectus of the API Efficient Frontier Funds, dated May 30, 2014, is amended as follows: </p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>The "Shareholder Fees" Table for each Fund has been amended to add a contingent deferred sales charge "CDSC" for Class A shares, and a footnote detailing the change, as follows: </b></p><p style="margin-top: 12pt; margin-bottom: 0pt;"><b>API MASTER ALLOCATION FUND </b></p><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="58%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td></tr><tr><td valign="top" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Shareholder Fees</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(fees paid directly from your investment)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIFX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APILX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APMAX</b></p></td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum sales charge (load) imposed on purchases<br/>(as percentage of offering price)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">5.75%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">None</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum deferred sales charge (load)<br/>(as a percentage of the lesser of original purchase price or redemption proceeds)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%(1)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">None</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">None</td></tr><tr><td height="8" style="padding-left: 8pt; border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-left-color: rgb(0, 0, 0); border-left-width: 1px; border-left-style: solid;" colspan="2"> </td><td height="8" style="border-right-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: 1px; border-left-width: 1px; border-right-style: solid; border-left-style: solid;" colspan="2"> </td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Maximum Account fee (for accounts under $500)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">$25/yr</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">$25/yr</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" align="center" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="58%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td><td width="2%" valign="bottom"></td><td width="12%"></td></tr><tr><td valign="middle" style="padding-left: 8pt; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc"><p style="margin-top: 0pt; margin-bottom: 0pt;"><b>Annual Fund Operating Expenses</b></p><p style="margin-top: 0pt; margin-bottom: 1pt;">(Expenses that you pay each year as a percentage of the value of your investment.)</p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class A</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APIFX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Class L</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APILX</b></p></td><td valign="bottom" style="border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: 1px; border-bottom-width: 1px; border-left-width: 1px; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;" bgcolor="#cccccc">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: 1px; border-right-width: 1px; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;" bgcolor="#cccccc"><p align="center" style="margin-top: 0pt; margin-bottom: 0pt;"><b>Institutional<br/>Class</b></p><p align="center" style="margin-top: 0pt; margin-bottom: 1pt;"><b>APMAX</b></p></td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Management Fee</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.30%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.30%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.30%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Distribution/Service (12b-1 Fees)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.50%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.00%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.00%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Other Expenses</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.43%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">0.43%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">0.43%</td></tr><tr><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Acquired Fund Fees and Expenses</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.40%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">1.40%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">1.40%</td></tr><tr bgcolor="#cccccc"><td valign="top" style="padding-left: 8pt; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">Total Annual Fund Operating Expenses (2)</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">2.63%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">3.13%</td><td valign="bottom" style="border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: 1px; border-bottom-style: solid; border-left-style: solid;">  </td><td align="center" valign="bottom" style="padding-right: 8pt; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: 1px; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">2.13%</td></tr></table><p style="margin-top: 0pt; margin-bottom: 0pt;"> </p><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(1)</td><td align="left" valign="top">Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </td></tr></table><table width="100%" style="border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0"><tr><td width="5%" align="left" valign="top">(2)</td><td align="left" valign="top">Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses.</td></tr></table><br/><b>ALL SECTIONS OF THE PROSPECTUS NOT SPECIFICALLY ADDRESSED IN THIS SUPPLEMENT SHALL REMAIN IN FULL FORCE AND EFFECT.</b>
</apit:SupplementTextBlock>
<rr:ShareholderFeesCaption contextRef="Duration_31May2013_30May2014S000025174_Member">
<b>Shareholder Fees</b><br/>(fees paid directly from your investment)
</rr:ShareholderFeesCaption>
<rr:OperatingExpensesCaption contextRef="Duration_31May2013_30May2014S000025174_Member">
<b>Annual Fund Operating Expenses</b><br/>(Expenses that you pay each year as a percentage of the value of your investment.)
</rr:OperatingExpensesCaption>
<rr:ExpensesDeferredChargesTextBlock contextRef="Duration_31May2013_30May2014S000025174_Member"> Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </rr:ExpensesDeferredChargesTextBlock>
<rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees contextRef="Duration_31May2013_30May2014S000025174_Member"> Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses. </rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees>
<rr:MaximumAccountFee id="Item_40" decimals="INF" contextRef="Duration_31May2013_30May2014C000023127_MemberS000025174_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_41" decimals="INF" contextRef="Duration_31May2013_30May2014C000023126_MemberS000025174_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumAccountFee id="Item_42" decimals="INF" contextRef="Duration_31May2013_30May2014C000127241_MemberS000025174_Member" unitRef="USD"> 25 </rr:MaximumAccountFee>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000025174_Member" unitRef="pure"> 0.0575 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000025174_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000025174_Member" unitRef="pure"> 0 </rr:MaximumSalesChargeImposedOnPurchasesOverOfferingPrice>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000025174_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000025174_Member" unitRef="pure"> 0 </rr:MaximumDeferredSalesChargeOverOther>
<rr:MaximumDeferredSalesChargeOverOther id="Item_43" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000025174_Member" unitRef="pure"> 0.01 </rr:MaximumDeferredSalesChargeOverOther>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000025174_Member" unitRef="pure"> 0.003 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000025174_Member" unitRef="pure"> 0.003 </rr:ManagementFeesOverAssets>
<rr:ManagementFeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000025174_Member" unitRef="pure"> 0.003 </rr:ManagementFeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000025174_Member" unitRef="pure"> 0.01 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000025174_Member" unitRef="pure"> 0.005 </rr:DistributionAndService12b1FeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000025174_Member" unitRef="pure"> 0 </rr:DistributionAndService12b1FeesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000025174_Member" unitRef="pure"> 0.0043 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000025174_Member" unitRef="pure"> 0.0043 </rr:OtherExpensesOverAssets>
<rr:OtherExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000025174_Member" unitRef="pure"> 0.0043 </rr:OtherExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000025174_Member" unitRef="pure"> 0.014 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000025174_Member" unitRef="pure"> 0.014 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000025174_Member" unitRef="pure"> 0.014 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_44" decimals="4" contextRef="Duration_31May2013_30May2014C000023127_MemberS000025174_Member" unitRef="pure"> 0.0263 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_45" decimals="4" contextRef="Duration_31May2013_30May2014C000023126_MemberS000025174_Member" unitRef="pure"> 0.0313 </rr:ExpensesOverAssets>
<rr:ExpensesOverAssets id="Item_46" decimals="4" contextRef="Duration_31May2013_30May2014C000127241_MemberS000025174_Member" unitRef="pure"> 0.0213 </rr:ExpensesOverAssets>
<link:footnoteLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
<link:loc xlink:type="locator" xlink:href="#Item_6" xlink:label="ExpensesOverAssets"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="ExpensesOverAssets" xlink:to="footnote_ExpensesOverAssets"/>
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<link:loc xlink:type="locator" xlink:href="#Item_44" xlink:label="Item_44_lbl"/>
<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_44_lbl" xlink:to="footnote_ExpensesOverAssets" use="optional" priority="0" order="1.0"/>
<link:loc xlink:type="locator" xlink:href="#Item_45" xlink:label="Item_45_lbl"/>
<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_45_lbl" xlink:to="footnote_ExpensesOverAssets" use="optional" priority="0" order="1.0"/>
<link:loc xlink:type="locator" xlink:href="#Item_46" xlink:label="Item_46_lbl"/>
<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_46_lbl" xlink:to="footnote_ExpensesOverAssets" use="optional" priority="0" order="1.0"/>
<link:loc xlink:type="locator" xlink:href="#Item_2" xlink:label="MaximumDeferredSalesChargeOverOther"/>
<link:footnote xlink:type="resource" xlink:label="footnote_MaximumDeferredSalesChargeOverOther" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US" id="footnote_MaximumDeferredSalesChargeOverOther"> Large purchases of Class A shares (greater than $1 million) are generally subject to a CDSC of 1.00% if the shares are redeemed during the first 12 months after purchase, unless the dealer, at its discretion, has waived the commission advance paid by the Distributor. </link:footnote>
<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="MaximumDeferredSalesChargeOverOther" xlink:to="footnote_MaximumDeferredSalesChargeOverOther"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_9_lbl" xlink:to="footnote_MaximumDeferredSalesChargeOverOther" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_19_lbl" xlink:to="footnote_MaximumDeferredSalesChargeOverOther" use="optional" priority="0" order="1.0"/>
<link:loc xlink:type="locator" xlink:href="#Item_29" xlink:label="Item_29_lbl"/>
<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_29_lbl" xlink:to="footnote_MaximumDeferredSalesChargeOverOther" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_36_lbl" xlink:to="footnote_MaximumDeferredSalesChargeOverOther" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_43_lbl" xlink:to="footnote_MaximumDeferredSalesChargeOverOther" use="optional" priority="0" order="1.0"/>
<link:loc xlink:type="locator" xlink:href="#Item_3" xlink:label="MaximumAccountFee"/>
<link:footnote xlink:type="resource" xlink:label="footnote_MaximumAccountFee" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US" id="footnote_MaximumAccountFee"> /yr </link:footnote>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_5_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_12_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_27_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_28_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_33_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_34_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_35_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
<link:loc xlink:type="locator" xlink:href="#Item_40" xlink:label="Item_40_lbl"/>
<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_40_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
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<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_41_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
<link:loc xlink:type="locator" xlink:href="#Item_42" xlink:label="Item_42_lbl"/>
<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Item_42_lbl" xlink:to="footnote_MaximumAccountFee" use="optional" priority="0" order="1.0"/>
<link:loc xlink:type="locator" xlink:href="#Item_13" xlink:label="ExpensesOverAssets_2"/>
<link:footnote xlink:type="resource" xlink:label="footnote_ExpensesOverAssets_2" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US" id="footnote_ExpensesOverAssets_2"> Total Annual Fund Operating Expenses do not correlate to the ratio of average net assets in the Financial Highlights Table, which reflects the operating expenses of the Fund and does not include Acquired Fund fees and expenses. </link:footnote>
<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="ExpensesOverAssets_2" xlink:to="footnote_ExpensesOverAssets_2"/>
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<link:footnote xlink:type="resource" xlink:label="footnote_ExpensesOverAssets_3" xlink:role="http://www.xbrl.org/2003/role/footnote" xml:lang="en-US" id="footnote_ExpensesOverAssets_3"> Before Fee Waivers </link:footnote>
<link:footnoteArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="ExpensesOverAssets_3" xlink:to="footnote_ExpensesOverAssets_3"/>
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</link:footnoteLink>
</xbrl>

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