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City National Rochdale to Open Hong Kong Research Office

August 21, 2014

City National Rochdale to Open Hong Kong Research Office

All asset figures are as of June 30, 2014, unless otherwise noted.

DISCLOSURES:

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

The Investment Manager for the fund is City National Rochdale, LLC, a subsidiary of City National Bank. The fund is distributed by SEI Investments Distribution Co. (SIDCO), 1 Freedom Valley Drive, Oaks, PA 19456. SIDCO is not affiliated with City National Rochdale, LLC, City National Bank, or any of their affiliates.

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

Diversification does not ensure a profit or protect against a loss.

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

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