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Davidson Funds Announces Estimated Capital Gains Distributions

With the end of the year approaching, Davidson Funds is pleased to provide its shareholders a preliminary estimate regarding capital gains distributions in its Davidson Multi-Cap Equity Fund for the year 2016. The chart below lists the estimates for both long and short-term capital gain distributions per share as of 10/31.

2016 CAPITAL GAIN ESTIMATES AS OF OCTOBER 31, 2016
Fund Preliminary Short-Term
Capital Gain Per Share
Preliminary Long-Term
Capital Gain Per Share
Preliminary Total
Capital Gain Per Share
Davidson Multi-Cap Equity Fund $0.00 $0.87 $0.87

To determine your estimated total distribution amount, multiply the Total Distribution per Share times the number of shares you own.

This year, the record date for the Fund's distribution will be Friday, December 9. The distribution will be paid to clients on Monday, December 12.

While capital gains are a taxable event, they are a normal part of investing in a mutual fund and are the result of profitable stock selections made in the fund.

Please note that this estimate is subject to change based on activity in the Fund before the ex-date.

If you have additional questions about your shares of the Davidson Multi-Cap Equity Fund, please contact Davidson Investment Advisors at 800-332-0529 or DIAMarketing@dadco.com.

Nothing contained on this communication constitutes tax, legal, or investment advice. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation.

Important Disclosures:

The Davidson Multi-Cap Equity Fund is unconstrained by market capitalization and style classification, creating a portfolio diversified by economic sector and focused on where the greatest market opportunities are viewed. The Fund is fundamentally focused, seeking to invest in profitable companies with attractive return on capital, cash flow and growth prospects. Of key importance are strong management teams with sound, achievable strategies. For more information on the Multi-Cap Equity Fund and other Davidson Funds offerings, please visit www.davidsonmutualfunds.com.

About Davidson Investment Advisors:
A registered investment adviser, Davidson Investment Advisors has provided asset management services for corporations, employee benefit plans, foundations, individuals and trusts since its inception in 1975, applying a consistent, repeatable and time-tested approach to portfolio management with a particular focus on the application of independent thought within the context of a team orientation. For more information, please visit www.davidsoninvestmentadvisors.com.

Davidson Investment Advisors is a subsidiary of D.A. Davidson Companies, an employee-owned financial services holding company with over 1,350 employees. D.A. Davidson Companies is based in Montana and operates from offices in 24 states, with its main footprint across the West and Midwest. Also part of the D.A. Davidson Companies family are D.A. Davidson & Co., a full-service brokerage firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio management services.

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security. Click here for the Davidson Multi-Cap Equity Fund’s top 10 holdings.

Opinions expressed are subject to change at any time, are not guaranteed and should not be considered investment advice.

Headquarters: Great Falls, MT
Toll-free: 1-877-332-0529
Founded: 1975
Assets Under Management: $1.8 billion