Pacific Capital Tax Free Short Intermediate Securities Fund Class Y NMFQS:PTFSX

The fund normally invests at least 80% of its net assets (plus borrowings for investment purposes) in investment grade municipal obligations — debt securities that pay interest which, in the opinion of counsel to the issuer, is exempt from both federal income tax and the federal alternative minimum tax. It normally invests not less than 50% of its net assets in Hawaii municipal obligations. The fund is non-diversified.