Kensington Select Income A (KIFAX)

Fund Fact Sheet 12-31-09 09-30-09 06-30-2009 03-31-2009 Prospectus Fact Sheet Explanation

Fund Summary The investment seeks high current income and long-term growth of capital. The fund invests primarily in real estate securities, including securities issued by real estate investment trusts ("REITs"), master limited partnerships and other real estate companies. Investments in these issuers include preferred stock, convertible preferred stock, debt securities, and other senior securities. It may also invest in common stock, rights or warrants to purchase securities, and limited partnership interests. It is nondiversified.

Fund Management Joel S. Beam, Lead Manager since 30-Mar-01
Beam is a portfolio manager responsible for securities investment decisions on behalf of Kensingtons portfolios and is the principal responsible for managing the research and trading group. He joined Kensington in 1995 as a senior analyst and began managing portfolios in 1997. He was previously employed by Liquidity Financial Advisors, Inc.