SUMMARY PROSPECTUS

 

August 31, 2013

WILMINGTON MID-CAP GROWTH FUND

 

 

Class /Ticker         A AMCRX         I ARMEX

 

Before you invest, you may want to review the Fund’s Prospectus and Statement of Additional Information, which contain more information about the Fund and its risks. You can find the Fund’s Prospectus, Statement of Additional Information, and other information about the Fund online at www.wilmingtonfunds.com . You can also get this information at no cost by calling 1.800.836.2211, by sending an email to funds@wilmingtontrust.com , or by asking any financial advisor, bank, or broker-dealer who offers shares of the Fund. The Fund’s Prospectus and Statement of Additional Information, both dated August 31, 2013, are incorporated by reference into this Summary Prospectus.

Investment Goal

The Fund seeks to provide long-term capital appreciation.

Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold the Fund’s Class A Shares and Class I Shares. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Wilmington Funds. More information about these and other discounts is available from your financial professional, in the Fund’s prospectus in the section entitled “How are shares priced?”.

Shareholder Fees

(Fees paid directly from your investment)

 

     Class A      Class  I  
Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price) 		     5.50%         None   
Maximum Deferred Sales Charge (Load)      None         None   
Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions)      None         None   
Redemption Fee      None         None   
Exchange Fee      None         None   

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)

 

     Class A      Class  I  
Management Fee      0.85%          0.85%    
Distribution and/or Service (12b-1) Fees      0.25%          None    
Other Expenses      0.46%          0.46%    
Total Annual Fund Operating Expenses      1.56%          1.31%    
Fee Waivers and/or Expense Reimbursements(1)      (0.32)%         (0.23)%   
Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement      1.24%          1.08%    

 

(1)   The Fund’s Advisor, distributor and shareholder services provider have agreed to waive their fees and/or reimburse expenses so that the total annual fund operating expenses paid by the Fund’s Class A Shares and Class I Shares will not exceed 1.24% and 1.08%, respectively, not including the effects of taxes or extraordinary expenses. This waiver may be amended or withdrawn after August 31, 2014, or with the agreement of the Fund’s Board of Trustees.

Example

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund’s Class A Shares and Class I Shares for the time periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs and returns may be higher or lower, based on these assumptions your costs would be:

 

    1 Year     3 Years     5 Years     10 Years  

Class A

       

Expenses assuming redemption

    $669        $986        $1,324        $2,278   

Class I

       

Expenses assuming redemption

    $110        $393        $697        $1,559   
 

 

SUMMARY PROSPECTUS  /  August 31, 2013     1   

WILMINGTON MID-CAP GROWTH FUND

 

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 36% of the average value of its portfolio.

Principal Investment Strategies of the Fund

Under normal circumstances, the Fund invests at least 80% of the value of its net assets in equity securities of mid cap U.S. companies. Equity securities include common and preferred stocks, as well as convertible securities. The investment advisor chooses stocks of mid cap companies that have significant growth potential, including securities of companies that have not reached full maturity, but that have above-average sales and earnings growth.

Mid cap companies are defined as companies with market capitalizations at the time of purchase similar to companies in the Russell Mid Cap Index. The definition is applied at the time of initial investment, and the Fund will not be required to sell a pre-existing investment because a company’s market capitalization has grown or reduced outside the market capitalization range of the indexes. As of June 30, 2013, the market capitalization of companies in the Russell Mid Cap Index ranged from $487 million to $30.3 billion. The capitalization ranges are subject to frequent change, and thus the applicable range of market capitalizations defining mid cap companies at time of purchase will likely differ from the range at June 30, 2013.

Principal Risks of Investing in the Fund

All mutual funds take investment risks. Therefore, it is possible to lose money by investing in the Fund. The primary factors that may reduce the Fund’s returns include:

 

  •  

Company Size Risk . The smaller companies in which the Fund may invest may have unproven track records, a limited product or service base, limited access to capital, and other attributes that can cause their share prices to fluctuate, and they may be more likely to fail than larger companies. Therefore, smaller companies may entail greater risks for investors than larger companies.

 

  •  

Growth Investing Risk . Due to their relatively high valuations, growth stocks are typically more volatile than value stocks.

 

  •  

Stock Market Risk . The value of equity securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s share price may decline suddenly or over a sustained period of time.

As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

Performance Information

The bar chart and table immediately following show the variability of the Fund’s returns and are meant to provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year, with respect to its Class A Shares, and by showing how the Fund’s average annual returns for 1, 5 and 10 years or the life of the Fund compare with those of a broad measure of market performance. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available at www.wilmingtonfunds.com.

Annual Total Returns – Class A Shares

 

LOGO

 

Best Quarter

20.95%

6/30/2009

 

 

Worst Quarter

(27.21)%

12/31/2008

 

The Fund’s Class A Shares total return for the six-month period from January 1, 2013 to June 30, 2013 was 12.92%. The maximum Class A sales charge of 5.50%, which is normally deducted when you purchase shares, is not reflected in the best quarter/worst quarter returns or in the bar chart. If this fee were included, the returns would be less than those shown. The average annual total returns in the table below do include the sales charge.

 

 

2   August 31, 2013  /  SUMMARY PROSPECTUS

WILMINGTON MID-CAP GROWTH FUND

 

Average Annual Total Returns

(For the periods ended December 31, 2012)

 

    1 Year     5  Years     10  Years  

Class A Shares

                       

Return Before Taxes

    5.80%         2.57 %      9.21 % 

Return After Taxes on Distributions

    5.13%         2.16 %      8.26 % 

Return After Taxes on Distributions and Sale of Fund Shares

    4.63%         2.12 %      7.94 % 

Class I Shares

                       

Return Before Taxes

    12.16%         3.91 %      10.00 % 

Russell Mid Cap Growth (reflects no deduction for fees, expenses or taxes)

    15.81%         3.23 %      10.32 % 

After-tax performance is presented only for Class A Shares of the Fund. The after-tax returns for other Fund classes may vary. Actual after-tax returns depend on your tax situation and may differ from those shown in the preceding table. When after-tax returns are calculated, it is assumed that the shareholder was in the highest individual federal marginal income tax bracket at the time of each distribution of income or capital gains or upon redemption. State and local income taxes are not reflected in the calculations. Please note that after-tax returns are not relevant for a shareholder who holds Fund shares in a tax-deferred account, such as an individual retirement account or a
401(k) plan.

Management of the Fund

Investment Advisor

Wilmington Funds Management Corporation

Investment Sub-Advisor

Wilmington Trust Investment Advisors, Inc. (“WTIA”)

 

Portfolio Manager   Title   Service Date
(with the Fund)
Mark Schultz, CFA   Administrative Vice President and Senior Portfolio Manager at WTIA   2003

Purchase and Sale of Fund Shares

Requests to purchase or redeem Fund Shares are processed on each day that the New York Stock Exchange (“NYSE”) is open for business. You may purchase or redeem Shares by contacting the Fund at 1-800-836-2211. If you invest through a financial intermediary, please contact that intermediary regarding purchase and redemption procedures.

 

Minimum Initial Investment Amount (Class A):*    $ 1,000   
Minimum Initial Investment Amount (Class I):*    $ 1,000,000   
Minimum Subsequent Investment Amount:    $ 25   

 

*   Other restrictions may apply. See “Purchasing Shares” in the Prospectus for further information.

The minimum initial and subsequent investment amounts may be waived or lowered from time to time.

Tax Information

The distributions you receive from the Fund are taxable and generally will be taxed as ordinary income, capital gains, or some combination of both, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or an individual retirement account, in which case your distributions generally will be taxed when withdrawn from the tax-deferred account.

Additional Payments to Other Financial Intermediaries

If you purchase the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies (such as the Advisor) may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your sales person or visit your financial intermediary’s website for more information.

 

 

SUMMARY PROSPECTUS  /  August 31, 2013     3   

WILMINGTON MID-CAP GROWTH FUND

 

 

WT MCG 8.31.13

 

4   August 31, 2013  /  SUMMARY PROSPECTUS
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