Mutual Fund Summary Prospectus (497k)
August 30 2013 - 5:09PM
Edgar (US Regulatory)
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SUMMARY PROSPECTUS
August 31, 2013
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WILMINGTON SMALL-CAP GROWTH FUND
Class/
Ticker
A
ARPAX
I
ARPEX
Before you invest, you may want to review the
Funds Prospectus and Statement of Additional Information, which contain more information about the Fund and its risks. You can find the Funds 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 Funds 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 Funds Class A Shares and Class I Shares. Acquired Fund Fees and Expenses are expenses
incurred indirectly by the Fund through its ownership of shares in other investment companies, such as business development companies. Business development company expenses are similar to the expenses paid by any operating company held by the Fund.
They are not direct costs paid by Fund shareholders and are not used to calculate the Funds net asset value. They have no impact on the costs associated with fund operations. Acquired Fund Fees and Expenses are not included in the Funds
financial statements, which provide a clearer picture of a funds actual operating costs. 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 Funds prospectus in the section entitled How are shares priced?.
Shareholder Fees
(Fees paid directly from your investment)
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Class A
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Class
I
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Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price)
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5.50%
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None
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Maximum Deferred Sales Charge (Load)
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None
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None
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Maximum Sales Charge (Load) Imposed on Reinvested Dividends (and other Distributions)
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None
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None
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Redemption Fee
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None
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None
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Exchange Fee
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None
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None
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Annual Fund Operating Expenses
(Expenses that you pay each year as a percentage of the value of your investment)
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Class A
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Class
I
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Management Fee
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0.85%
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0.85%
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Distribution and/or Service
(12b-1)
Fees
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0.25%
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None
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Other Expenses
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0.61%
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0.61%
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Acquired Fund Fees and Expenses
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0.10%
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0.10%
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Total Annual Fund Operating Expenses
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1.81%
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1.56%
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Fee Waivers and/or Expense Reimbursements(1)
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(0.24)%
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(0.21)%
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Total Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement
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1.57%
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1.35%
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(1)
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The Funds 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 Funds Class A Shares and Class I Shares will not exceed 1.47% and 1.25%, respectively
,
not including the effects of acquired fund fees and expenses, taxes or extraordinary expenses. This waiver may be amended or
withdrawn after August 31, 2014, or with the agreement of the Funds Board of Trustees.
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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 $10,000 in the Funds Class A Shares and Class I Shares for the time
periods indicated and then redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Funds operating expenses remain the same. Although your actual costs and
returns may be higher or lower, based on these assumptions your costs would be:
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1 Year
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3 Years
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5 Years
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10 Years
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Class A
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Expenses assuming redemption
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$
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701
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$
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1,066
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$
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1,454
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$
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2,540
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Class I
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Expenses assuming redemption
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$
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137
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$
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471
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$
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829
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$
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1,837
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SUMMARY PROSPECTUS / August 31, 2013
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1
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WILMINGTON SMALL-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 Funds performance. During the most recent fiscal year, the
Funds portfolio turnover rate was 142% of the average value of its portfolio.
Principal Investment Strategies of the Fund
The Funds investment advisor purchases stocks of smaller companies that the investment advisor believes have the potential to achieve substantial long-term earnings growth and shareholder value. The
Funds investment advisor employs a quantitative model to assist it in identifying potential investments, and uses an equity risk modeling tool to construct the Funds portfolio. Under normal circumstances, the Fund invests at least 80% of
the value of its net assets in equity securities of U.S. small cap companies. Equity securities include common and preferred stocks, as well as convertible securities.
Small cap companies are defined as companies with market capitalizations at the time of purchase similar to companies in the S&P SmallCap 600 Index or the Russell 2000 Index. The
Funds investment adviser will apply the definition at the time of initial investment, and the Fund will not be required to sell (or be precluded from adding to) a pre-existing investment because a companys 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 S&P SmallCap 600 Index ranged from $95 million to $3.4 billion, and the market capitalization of
companies in the Russell 2000 Index ranged from $23 million to $5.8 billion. The capitalization ranges of the indexes are subject to frequent change, and the indexes are re-balanced and reconstituted periodically. Thus, the applicable
range of market capitalizations defining small cap companies at time of purchase and the companies in the indexes will likely differ from the ranges and constituent companies 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 Funds returns include:
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Active Trading Risk
. The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance and
increase the amount of taxes that you pay).
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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.
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Growth Investing Risk
. Due to their relatively high valuations, growth stocks are typically more volatile than value stocks.
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Information Risk
. When the quantitative analytical tools (Tools) and information and data (Data) used in managing the
Fund prove to be incorrect or incomplete, any investment decisions made in reliance on the Tools and Data may not produce the desired results and the Fund may realize losses.
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Stock Market Risk
. The value of equity securities in the Funds portfolio will fluctuate and, as a result, the Funds share price may
decline suddenly or over a sustained period of time.
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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 Funds returns and are meant to provide some indication of the risks of investing in the Fund by showing changes in the Funds performance from year to year, with respect to its Class A Shares, and by showing how the
Funds 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 Funds 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
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Best Quarter
25.45%
6/30/2003
Worst Quarter
(28.11)%
12/31/2008
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2
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August 31, 2013 / SUMMARY PROSPECTUS
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WILMINGTON SMALL-CAP GROWTH FUND
The Funds Class A Shares total return for the six-month period from January 1, 2013
to June 30, 2013 was 14.96%. 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.
Average Annual Total Returns
(For the periods ended December 31, 2012)
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1
Year
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5
Years
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10
Years
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Class A Shares
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Return Before Taxes
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4.00%
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(1.73)%
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7.25%
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Return After Taxes on Distributions
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3.91%
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(1.74)%
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5.91%
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Return After Taxes on Distributions and Sale of Fund
Shares
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2.70%
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(1.46)%
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5.66%
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Class I Shares
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Return Before Taxes
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10.33%
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(0.45)%
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8.02%
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Russell 2000 Growth (reflects no deduction for fees, expenses or
taxes)
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14.59%
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3.49%
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9.80%
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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 (WFMC)
Investment Sub-Advisor
Wilmington Trust Investment Advisors, Inc. (WTIA)
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Portfolio Managers
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Title
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Service Date
(with the Fund)
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Andrew H. Hopkins, CFA, CPA
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Administrative Vice President and Director of Equity Management at WFMC
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2012
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Rafael E. Tamargo
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Vice President and Portfolio Manager/Research Analyst at WFMC
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2012
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Edward S. Forrester, III, CFA
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Assistant Vice President and Portfolio Manager/Research Analyst at WTIA
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2012
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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.
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Minimum Initial Investment Amount (Class A):*
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$
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1,000
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Minimum Initial Investment Amount (Class I):*
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$
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1,000,000
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Minimum Subsequent Investment Amount:
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$
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25
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*
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Other restrictions may apply. See Purchasing Shares in the Prospectus for further information.
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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 intermediarys website for more information.
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SUMMARY PROSPECTUS / August 31, 2013
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3
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WILMINGTON SMALL-CAP GROWTH FUND
WT SCG 8.31.13
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4
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August 31, 2013 / SUMMARY PROSPECTUS
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