Please note that distributions were paid in the Al Frank Funds on Friday, Dec. 9, 2011.

For the Al Frank Fund (VALUX), the amounts paid were $5.58173 per share in Long-Term Capital Gains and $0.20694892 per share in Ordinary Income.

For the Al Frank Dividend Value Fund (VALDX), the amount paid was $0.10877856 per share in Ordinary Income.