The Partnership Program Prospectus is available for download here, please contact clientrelations@bridgecapitaladvisors.com for further information.

T. Rowe Price Small-Cap Value (PRVIX)

BlackRock | Large Cap Index Fund

INSTITUTIONAL CLASS

Investment Approach

Invests in a portfolio of assets whose performance seeks to match the performance of the Russell 1000® Index.

Performance

*Performance data for certain classes of shares of certain funds are based on pre-class inception information dating back to an older class of fund shares. This information may be considered when assessing a fund’s performance, but it does not represent actual performance of these classes of shares. The inception date noted under Key Fund Facts is the date the class of shares was incepted. See fund prospectus or fact sheet for details.

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.

Annual Report

Fund Summary as of December 31, 2016

Investment Objective:

BlackRock Large Cap Index Fund’s (the “Fund”) investment objective is to match the performance of the Russell 1000® Index as closely as possible before the deduction of Fund expenses.

Portfolio Management Commentary:

How did the Fund perform?

‰ For the 12-month period ended December 31, 2016, the Fund’s Institutional Shares returned 11.92%

The benchmark Russell 1000® Index returned 12.05% for the same period.

‰ Returns for the Fund’s respective share classes differ from the benchmark index based on individual share-class expenses.

The Fund invests all of its assets in Large Cap Index Master Portfolio (the “Master Portfolio”), a series of Master Investment Portfolio.

Describe the market environment.

‰ The year started with U.S. stock prices falling due to fears of a global economic slowdown, oil prices cratering, and terrorist attacks in Istanbul, Jakarta and Pakistan. Domestic equity markets rebounded in the second quarter of 2016, despite increased volatility in June from the “Brexit,” i.e., the U.K.’s vote to leave the European Union.

‰ U.S. equities capitalized on the upward momentum from their second quarter rally, which continued through the second half of the reporting period, driven by a dovish Federal Reserve (the “Fed”) that kept rates unchanged and stronger-than-expected earnings releases versus analyst expectations. The U.S. economy continued to strengthen into the fourth quarter as seen by strong macro data and tightening of the U.S. labor market.

As such, the Fed’s decision to raise rates by 25 basis points at the end of the reporting period did not come as a big surprise.

‰ The U.S. election and the Fed were front and center in 2016. The year started with an increase in volatility as investors prepared for a possible Fed rate increase, and weighed probable outcomes of the U.S. election. While many people were shocked by the Trump win, markets did not experience the same type of volatility seen after the Brexit vote, with major U.S. indexes posting solid gains in November. Describe recent portfolio activity.

‰ During the period, as changes were made to the composition of the Russell 1000® Index, the Master Portfolio purchased and sold securities to maintain its objective of replicating the risks and return of the benchmark index. Describe portfolio positioning at period end.

‰ The Master Portfolio remains positioned to match the risk characteristics of its benchmark index, irrespective of the market’s future direction.

Download the Full Annual Report

us-mutual-funds-open-end-funds-russell-1000-index-fund-usd-annual-report-en-us-1

Summary Prospectus

SUMMARY PROSPECTUS

BlackRock Funds III | Institutional Shares

BlackRock Large Cap Index Fund Investor Institutional: BRGNX

Before you invest, you may want to review the Fund’s prospectus, which contains more information about the Fund and its risks. You can find the Fund’s prospectus (including amendments and supplements) and other information about the Fund, including the Fund’s statement of additional information and shareholder report, online at the Prospectus Download Page

You can also get this information by sending an e-mail request to [email protected], or from your account manager. The Fund’s prospectus and statement of additional information, both dated April 28, 2017, as amended and supplemented from time to time, are incorporated by reference into (legally made a part of) this Summary Prospectus.

This Summary Prospectus contains information you should know before investing, including information about risks. Please read it before you invest and keep it for future reference. The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this Summary Prospectus. Any representation to the contrary is a criminal offense.

Prospectus

In the section of each Prospectus entitled “Fund Overview—Key Facts About [the Fund]—Purchase and Sale of Fund Shares” or “Fund Overview—Purchase and Sale of Fund Shares,” as applicable, the Institutional Shares column of the table is deleted in its entirety and replaced with the following:

Institutional Shares Minimum

Initial Investment There is no minimum initial investment for:

Employer-sponsored retirement plans (not including SEP IRAs, SIMPLE IRAs or SARSEPs), state sponsored 529 college savings plans, collective trust funds, investment companies or other pooled investment vehicles, unaffiliated thrifts and unaffiliated banks and trust companies, each of which may purchase shares of the Fund through a Financial Intermediary that has entered into an agreement with the Fund’s distributor to purchase such shares.

Investors of Financial Intermediaries that:

(i) charge such investors a fee for advisory, investment consulting, or similar services or (ii) have entered into an agreement with the Fund’s distributor to offer Institutional Shares through a no-load program or investment platform. $2 million for individuals and “Institutional Investors,” which include, but are not limited to, endowments, foundations, family offices, local, city, and state governmental institutions, corporations and insurance company separate accounts who may purchase shares of the Fund through a Financial Intermediary that has entered into an agreement with the Fund’s distributor to purchase such shares. $1,000 for clients investing through Financial Intermediaries that offer such shares on a platform that charges a transaction based sales commission outside of the Fund.

In the section of each Prospectus entitled “Account Information—How to Choose the Share Class that Best Suits Your Needs—Share Classes at a Glance,” the first two rows of the Investor A and Institutional Shares columns of the table are deleted in their entirety and replaced with the following:

Institutional Shares Availability

Generally available through Financial Intermediaries. Limited to certain investors, including:

Individuals and “Institutional Investors,” which include, but are not limited to, endowments, foundations, family offices, local, city, and state governmental institutions, corporations and insurance company separate accounts, who may purchase shares of the Fund through a Financial Intermediary that has entered into an agreement with the Distributor to purchase such shares.

Employer-sponsored retirement plans (not including SEP IRAs, SIMPLE IRAs or SARSEPs), state sponsored 529 college savings plans, collective trust funds, investment companies or other pooled investment vehicles, unaffiliated thrifts and unaffiliated banks and trust companies, each of which may purchase shares of the Fund through a Financial Intermediary that has entered into an agreement with the Distributor to purchase such shares.

Employees, officers and directors/ trustees of BlackRock or its affiliates and immediate family members of such persons, if they open an account directly with BlackRock.

Participants in certain programs sponsored by BlackRock or its affiliates or other Financial Intermediaries.

Financial Intermediaries that have entered into an agreement with the Fund’s distributor to offer such shares on a platform that charges a transaction based sales commission outside of the Fund.

There is no investment minimum for:

Employer-sponsored retirement plans (not including SEP IRAs, SIMPLE IRAs or SARSEPs), state sponsored 529 college savings plans, collective trust funds, investment companies or other pooled investment vehicles, unaffiliated thrifts and unaffiliated banks and trust companies.

Employees, officers and directors/ trustees of BlackRock or its affiliates and immediate family members of such persons, if they open an account directly with BlackRock.

Investors of Financial Intermediaries that:

(i) charge such investors a fee for advisory, investment consulting, or similar services or (ii) have entered into an agreement with the Distributor to offer Institutional Shares through a no-load program or investment platform. $2 million for individuals and Institutional Investors. $1,000 for clients investing through Financial Intermediaries that offer such shares on a platform that charges a transaction based sales commission outside of the Fund.

The following is added immediately after the first or second paragraph, as applicable, related to lower initial investment for certain investors in the section of each Prospectus entitled “Account Information— Details About the Share Classes—Institutional Shares”:

Institutional Shares may also be available on certain brokerage platforms. An investor transacting in Institutional Shares through a broker acting as an agent for the investor may be required to pay a commission and/or other forms of compensation to the broker.

Shares of the Fund are available in other share classes that have different fees and expenses. Shareholders should retain this Supplement for future reference.

Please go to the Prospectus Download Page to download the Full Prospectus

Fact Sheet

INVESTMENT STRATEGY

Invests in a portfolio of assets whose performance seeks to match the performance of the Russell 1000® Index.

Fund name as of 19-June-2017, all other data as of 31-March-2017.

Rated against 1248 Large Blend Funds, as of 03/31/2017 based on risk adjusted total return.

Overall Ratings are determined monthly and subject to change.

The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) Morningstar Rating metrics.††

Performance data quoted represents past performance and is no guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown. All returns assume reinvestment of all dividend and capital gain distributions. Refer to blackrock.com for current month-end performance. Index performance is shown for illustrative purposes only. It is not possible to invest directly in an unmanaged index. Institutional shares have limited availability and may be purchased at various minimums. See prospectus for details.

Key Risks: The fund may use derivatives to hedge its investments or to seek to enhance returns.

Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility. Stock values fluctuate in price so the value of your investment can go down depending on market conditions. An index fund has operating and other expenses while an index does not.

As a result, while an Index fund will attempt to track the applicable index as closely as possible, it will tend to underperform the index to some degree over time.

KEY FACTS Size of Fund (Millions) $178.9M Fund Launch Date 03/31/2011 Share Class Launch Date 03/31/2011 Morningstar Cat.

Large Blend Number Of Holdings 997 Benchmark Russell 1000 Index (Gross Total Return)

ANNUAL EXPENSES Gross Expense Ratio 0.26% Net Expense Ratio 0.13% The Net Expense Ratio excluding Investment Related Expenses is 0.13% Investment Related Expenses include acquired fund fees of 0.00%, and interest expense (cost of borrowing securities to seek to enhance return or reduce risk) of 0.00%, and certain other expenses, if applicable.

Expenses stated as of the fund’s most recent prospectus. The difference between gross and net expense ratios are due to contractual and/or voluntary waivers, if applicable. This share class has a contractual waiver with an end date of 04/30/ 2017 terminable upon 90 days’ notice.

BlackRock may agree to voluntarily waive certain fees and expenses, which the adviser may discontinue at any time without notice.

TOP HOLDINGS (%)2 APPLE INC 3.47 MICROSOFT CORPORATION 2.20 ALPHABET INC 2.18 AMAZON.COM INC 1.52 EXXON MOBIL CORP 1.51 JOHNSON & JOHNSON 1.50 JPMORGAN CHASE & CO 1.41 FACEBOOK INC 1.41 BERKSHIRE HATHAWAY INC 1.38 GENERAL ELECTRIC CO 1.15 Total of Portfolio 17.73

brgnx-large-cap-index-fund-factsheet-us0669232029-us-en-individual-1

Bridge Capital Advisors Partnership Prospectus

on id=”” align=”alignnone” width=”794″]Bridge Capital Advisors Partnership Program Prospectus Bridge Capital Advisors Partnership Program Prospectus[/caption]

Bridge Capital Advisors is an appointed representative of BCI International PLC which has become one of the lead investment groups in Asia, focussing the majority of their investments around Malaysia, Labuan, Hong Kong, Mainland China and Singapore.

Bridge Capital Advisors (BCI International PLC ), a member of the BCI International PLC group has over 20 years of experience and are authorized to offer a full range of trust services to both institutional and individual investors. BCI International PLC, a licensed trust company, is qualified and is duly registered to act as a Corporate Bond Trustee on behalf of Standard Chartered (Hong Kong) Limited with an un-restricted corporate guarantee from Standard Chartered Bank PLC  with the Malaysia Securities Commission, to also act as a licensed Trustee for Mutual Funds, Unit Trust Funds, Real Estate Investment Trusts (REITs) as well as Private Retirement Schemes (PRS).

BCI International PLC. IS REGULATED BY SECURITIES COMMISSION MALAYSIA & COMPANIES COMMISSION OF MALAYSIA.

BCI International PLC. IS REGULATED BY LABUAN FINANCIAL SERVICE AUTHORITY Company Number LL09900.

This document is important: If you are in any doubt as to the meaning of any information in this Prospectus or as to whether an investment in the BCI International PLC Investment Funds  or one of its sub-funds is suitable for you, you should consult your financial advisor. This is the Prospectus of BCI International PLC Partnership Plan valid as at 1 April 2017.

This Prospectus has been prepared by BCI international PLC (BCIIPLC) in accordance with the rules contained in the Labuan Financial Services Authority’s Handbook. The Company is incorporated in Labuan as an investment trust.

The Shareholders are not liable for the debts of the Company. BCIIPLC is the Authorised Corporate Director of the Company. BCIIPLC is responsible for the information contained in this Prospectus. To the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case) the information contained in this document is in accordance with the facts, does not contain any untrue or misleading statement and does not omit anything likely to affect the importance of such information or any matters required to be included in it by the Labuan Financial Services Authority’s Handbook. BCIIPLC accepts responsibility for the Prospectus accordingly.

Please down load the full Partnership Program Application here

DOWNLOAD PARTNERSHIP PROGRAM PROSPECTUS

Nuveen Investments | Small Cap Value Fund FSCCX

INSTITUTIONAL CLASS

Investment Approach

The investment objective of the Fund is capital appreciation.

Performance

Nuveen Small Cap Fund

 Nuveen Small Cap Fund

Fund Performance and Expense Ratios

Nuveen Small Cap Value Fund
Refer to the first page of this Fund Performance and Expense Ratios section for further explanation of the information
included within this section.
Refer to the Glossary of Terms Used in this Report for definitions of terms used within this section.
Since inception returns for Class R6 Shares are from 6/30/16. Indexes and Lipper averages are not available for direct investment.
Class A Shares have a maximum 5.75% sales charge (Offering Price).
Class A Share purchases of $1 million or more are sold at net asset value without an up-front sales charge but may be subject to a contingent deferred sales charge (CDSC) equal to 1%, if redeemed within eighteen months of purchase. Class C Shares have a 1% CDSC for redemptions within less than twelve months, which is not reflected in the one-year total return. Class R3 Shares have no sales charge and are only available for purchase by eligible retirement plans. Class R6 Shares have no sales charge and are available only to certain limited categories as described in the prospectus. Class I Shares have no sales charge and may be purchased under limited circumstances or by specified classes of investment.

Annual Approach

Summary Approach

SUMMARY

Nuveen Small Cap Select Fund

Investment Objective

The investment objective of the Fund is capital appreciation.

Fact Sheet

Nuveen Small Cap Value Fund

FUND DESCRIPTION

A diversified, small-cap value portfolio that buys quality companies trading at a discount to their intrinsic value only when a forthcoming catalyst is apparent.

INVESTMENT PROCESS

We believe our comprehensive, research-driven approach to stock selection offers the best opportunity to achieve superior, risk-adjusted returns over the long-term.

The Small Cap Value team collaborates with our fundamental and quantitative teams, as well as the Small Cap Select and Small Cap Growth teams, as they seek to identify the best opportunities in the small-cap value arena and make timely buy and sell decisions.

Portfolio Construction Process The Small Cap Value team uses a disciplined process to identify companies that exhibit:

Compelling fundamentals, such as improving profitability and shareholder-oriented management. Undervaluation, signified by a large spread between market and fair value, and attractiveness relative to historical valuation measure. An identifiable catalyst that could close the valuation gap between market and fair value over the subsequent one- to two-year period.

Nuveen Investments | Small Cap Fund I | FSCCX

 Nuveen Investments | Small Cap Fund I | FSCCX

Down load the Nuveen Small Cap Fund FACT SHEET HERE

Bridge Capital Advisors Partnership Program Prospectus

Partnership-Program-Application-Blank-1

Bridge Capital Advisors is an appointed representative of BCI International PLC which has become one of the lead investment groups in Asia, focussing the majority of their investments around Malaysia, Labuan, Hong Kong, Mainland China and Singapore.

Bridge Capital Advisors (BCI International PLC ), a member of the BCI International PLC group has over 20 years of experience and are authorized to offer a full range of trust services to both institutional and individual investors. BCI International PLC, a licensed trust company, is qualified and is duly registered to act as a Corporate Bond Trustee on behalf of Standard Chartered (Hong Kong) Limited with an un-restricted corporate guarantee from Standard Chartered Bank PLC  with the Malaysia Securities Commission, to also act as a licensed Trustee for Mutual Funds, Unit Trust Funds, Real Estate Investment Trusts (REITs) as well as Private Retirement Schemes (PRS).

BCI International PLC. IS REGULATED BY SECURITIES COMMISSION MALAYSIA & COMPANIES COMMISSION OF MALAYSIA.

BCI International PLC. IS REGULATED BY LABUAN FINANCIAL SERVICE AUTHORITY Company Number LL09900.

This document is important: If you are in any doubt as to the meaning of any information in this Prospectus or as to whether an investment in the BCI International PLC Investment Funds  or one of its sub-funds is suitable for you, you should consult your financial advisor. This is the Prospectus of BCI International PLC Partnership Plan valid as at 1 April 2017.

This Prospectus has been prepared by BCI international PLC (BCIIPLC) in accordance with the rules contained in the Labuan Financial Services Authority’s Handbook. The Company is incorporated in Labuan as an investment trust.

The Shareholders are not liable for the debts of the Company. BCIIPLC is the Authorised Corporate Director of the Company. BCIIPLC is responsible for the information contained in this Prospectus. To the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case) the information contained in this document is in accordance with the facts, does not contain any untrue or misleading statement and does not omit anything likely to affect the importance of such information or any matters required to be included in it by the Labuan Financial Services Authority’s Handbook. BCIIPLC accepts responsibility for the Prospectus accordingly.

Please down load the full Partnership Program Application here

DOWNLOAD PARTNERSHIP PROGRAM PROSPECTUS

Vanguard Russell 1000 Index Fund VRNIX

INSTITUTIONAL CLASS

Investment Approach

  • Seeks to track the performance of the Russell 1000 Index.
  • U.S. large-cap equity diversified across growth and value styles.
  • Employs a passively managed, full-replication strategy.
  • The fund remains fully invested.
  • Low expenses minimize net tracking error.

Performance

QUARTER-END YEAR-TO-DATE 1 YEAR 3 YEAR 5 YEAR 10 YEAR SINCE INCEPTION
 VRNIX 3.04% 9.23% 17.94% 9.14% 14.54% 13.64%
 Benchmark* 3.06% 9.27% 18.03% 9.26% 14.67%
+/–  Benchmark – 0.02% – 0.04%
Avg expense ratio
0.02% 0.08% 0.08% 0.08%
Residual error
0.00% – 0.01% – 0.05% – 0.04%

Note: Fee adjusted for mutual funds where applicable.

Note: Except the most recent quarter, the expense ratios presented are the funds’ actual operating expenses and they exclude any acquired fees and expenses, which result from the funds’ holding in business development companies(BDCs).BDCs expenses are not direct costs paid by fund shareholders and are not used to calculate the funds’ net asset value.

* Measures the performance of the 1,000 largest companies in the Russell 3000 Index.

Annual Report

Fund Summary as of August 31, 2016

Your Fund’s Performance at a Glance

Value stocks generally outperformed their growth-oriented counterparts for the 12 months ended August 31, 2016.

This broad market trend was mirrored in the performance of the Vanguard Russell 1000 Index Funds.

• Results ranged from about 13% for the Value Index Fund to about 10% for the Growth Index Fund.

The Russell 1000 Index Fund, which includes both growth and value stocks, returned about 11%.

• All three funds closely tracked their target indexes and exceeded the average returns of their large-cap fund peers.

• Technology was the top contributing sector for all three funds. Producer durables, consumer staples, and financial services also added to performance. • Health care and energy posted negative results for the Growth Index Fund.

1 Total Returns:

Fiscal Year Ended August 31, 2016

Total Returns Vanguard Russell 1000 Index Fund ETF Shares Market Price 11.35%

Net Asset Value 11.41

Institutional Shares 11.47

Russell 1000 Index 11.69

Large-Cap Core Funds Average 9.22

Large-Cap Core Funds Average:

Derived from data provided by Lipper, a Thomson Reuters Company.

Vanguard Russell 1000 Value Index Fund ETF Shares Market Price 12.63%

Net Asset Value 12.65

Institutional Shares 12.72

Russell 1000 Value Index 12.92

Large-Cap Value Funds Average 8.66

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Summary Prospectus

SUMMARY

Vanguard Russell 1000 Index Fund Summary Prospectus The Securities and Exchange Commission (SEC) has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense. December 22, 2016 Vanguard Russell 1000 Index Fund Institutional Shares (VRNIX)

Investment Objective

The Fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks in the United States.

Fact Sheet

Investment objective

Vanguard Russell 1000 Index Fund seeks to track the performance of a benchmark index that measures the investment return of large-capitalization stocks.

Investment strategy

The fund employs a “passive management”—or indexing—investment approach designed to track the performance of the Russell 1000 Index.

The index measures the performance of large-capitalization stocks in the United States.

The fund attempts to replicate the target index by investing all, or substantially all, of its assets in the stocks that make up the index, holding each stock in approximately the same proportion as its weighting in the index.

FS1848R

Bridge Capital Advisors Partnership Prospectus

Partnership-Program-Application-Blank-1

Bridge Capital Advisors is an appointed representative of BCI International PLC which has become one of the lead investment groups in Asia, focussing the majority of their investments around Malaysia, Labuan, Hong Kong, Mainland China and Singapore.

Bridge Capital Advisors (BCI International PLC ), a member of the BCI International PLC group has over 20 years of experience and are authorized to offer a full range of trust services to both institutional and individual investors. BCI International PLC, a licensed trust company, is qualified and is duly registered to act as a Corporate Bond Trustee on behalf of Standard Chartered (Hong Kong) Limited with an un-restricted corporate guarantee from Standard Chartered Bank PLC  with the Malaysia Securities Commission, to also act as a licensed Trustee for Mutual Funds, Unit Trust Funds, Real Estate Investment Trusts (REITs) as well as Private Retirement Schemes (PRS).

BCI International PLC. IS REGULATED BY SECURITIES COMMISSION MALAYSIA & COMPANIES COMMISSION OF MALAYSIA.

BCI International PLC. IS REGULATED BY LABUAN FINANCIAL SERVICE AUTHORITY Company Number LL09900.

This document is important: If you are in any doubt as to the meaning of any information in this Prospectus or as to whether an investment in the BCI International PLC Investment Funds  or one of its sub-funds is suitable for you, you should consult your financial advisor. This is the Prospectus of BCI International PLC Partnership Plan valid as at 1 April 2017.

This Prospectus has been prepared by BCI international PLC (BCIIPLC) in accordance with the rules contained in the Labuan Financial Services Authority’s Handbook. The Company is incorporated in Labuan as an investment trust.

The Shareholders are not liable for the debts of the Company. BCIIPLC is the Authorised Corporate Director of the Company. BCIIPLC is responsible for the information contained in this Prospectus. To the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case) the information contained in this document is in accordance with the facts, does not contain any untrue or misleading statement and does not omit anything likely to affect the importance of such information or any matters required to be included in it by the Labuan Financial Services Authority’s Handbook. BCIIPLC accepts responsibility for the Prospectus accordingly.

Please down load the full Partnership Program Application here

DOWNLOAD PARTNERSHIP PROGRAM PROSPECTUS

Morgan Stanley Institutional Fund, Inc. Frontier Markets Portfolio

Class IS MSRFX

T. Rowe Price | Small-Cap Value (PRVIX)

(PRVIX)

Investment Approach

The fund seeks long-term capital growth by investing primarily in small companies whose common stocks are believed to be undervalued.

Performance

Average Annual Total Returns1 ,2
Month End
6/30/17
Quarter End
6/30/17
1 Year 24.53% 24.53%
3 Years 7.65% 7.65%
5 Years 13.20% 13.20%
10 Years 7.58% 7.58%
Since Inception 11.80% 11.80%
Investor Class Inception Date June 30, 1988
I Class Inception Date August 28, 2015
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when you sell your shares.
The Small-Cap Value Fund – I Class charges a 1% redemption fee on shares held 90 days or less. The performance information shown does not reflect the deduction of the redemption fee; if it did, the performance would be lower.
Calendar Year Total Returns
2016 29.12%
 
Share Splits
as of 06/30/2017
Split Type N/A
Effective Date N/A
Pre-Split NAV N/A
Post-Split NAV

Annual Report

Fund Summary as of December 31, 2016

The Small-Cap Value Fund returned 28.97% in its fiscal year ended December 31, 2016, with the bulk of those gains coming in the second half of the period.

This return outpaced the gain of the Russell 2000 Index as well as those of our small-cap peers.

The fund modestly trailed the Russell 2000 Value Index—an outcome we might expect given our focus on higher-quality shares, which did not fare as well as heavily indebted or nonearning stocks in the robust rally.

Market Environment Stocks delivered very strong returns in the six months since our last report, and small-cap value stocks were among the very best performers. Investor sentiment got a boost from improving economic data in the second half of the year, which demonstrated that the slowdown in growth at the start of 2016 was likely temporary.

After having slowed dramatically in May, monthly payroll gains picked up substantially in the summer and maintained decent momentum through the remainder of the year.

The tightening labor market pushed up wages and boosted consumer confidence, which fed through to improved retail spending. The manufacturing sector slowed a bit in the summer but regained

The rebound in the housing sector continued, with home sales reaching peaks not seen since before the 2008–2009 collapse of the housing market. The passing of the November elections provided another boost to the stock market.

With the uncertainty resolved, and the bitterness of the campaign season subsiding, stocks broadly rose through the end of the year. Many market participants anticipated faster economic growth in response to proposed fiscal stimulus and possible deregulation.

Investors particularly favored companies that stand to benefit from lower corporate taxes, deregulation, and increased infrastructure and defense spending. The financials sector fared especially well, as investors looked forward not only to lighter regulation but also higher interest rates and lending margins.T.rowe-Annual-Report

Summary Prospectus

SUMMARY

Investment Objective

The fund seeks long-term capital growth by investing primarily in small companies whose common stocks are believed to be undervalued.

Investments, Risks, and Performance Principal Investment Strategies

Reflecting a value approach to investing, the fund will seek the stocks of companies whose current stock prices do not appear to adequately reflect their underlying value as measured by assets, earnings, cash flow, or business franchises.

Normally, the fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in companies with a market capitalization that is within or below the range of companies in the Russell 2000 Index.

As of December 31, 2016, the market capitalization range for the Russell 2000 Index was approximately $20.0 million to $13.4 billion.

The market capitalization of the companies in the fund’s portfolio and the Russell 2000 Index changes over time, and the fund will not sell a stock just because the company has grown to a market capitalization outside the range. The fund may, on occasion, purchase companies with a market capitalization above the range. Our in-house research team seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation.

In selecting investments, we generally look for some of the following:

• low price/earnings, price/book value, or price/cash flow ratios relative to the Russell 2000 Index, the company’s peers, or its own historical norm;

• low stock price relative to a company’s underlying asset values;

• above-average dividend yield relative to a company’s peers or its own historical norm;

• a plan to improve the business through restructuring; and

• a sound balance sheet and other positive financial characteristics. In pursuing its investment objective, the fund has the discretion to deviate from its normal investment criteria.

These situations might arise when the fund’s adviser believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management.

While most assets will typically be invested in U.S. common stocks, including real estate investment trusts (“REITs”) that pool money to invest in properties and mortgages, the fund may also invest in foreign stocks in keeping with the fund’s objectives.

The fund may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.

T.Rowe-Prospectus

Fact Sheet

INVESTMENT OBJECTIVE AND STRATEGY

The fund seeks long-term capital growth by investing primarily in small companies whose common stocks are believed to be undervalued. Focus on small-company stocks T. Rowe Price believes do not reflect their underlying value.

Intensive in-house research identifies undervalued stocks by considering, among other factors: – Low price/earnings, price/book value, and price/cash flow ratios – Solid financial characteristics – Stable or improving earnings and/or cash flow and sound or improving balance sheet.

BENEFITS AND RISKS

Small-cap stocks offer greater capital appreciation potential than large-company stocks. Flexibility to respond more quickly to changes in the marketplace. Small companies tend to be riskier than large companies.

T.Rowe-Fact-Sheet

Bridge Capital Advisors Partnership Program Prospectus

Partnership-Program-Application-Blank-1

Bridge Capital Advisors is an appointed representative of BCI International PLC which has become one of the lead investment groups in Asia, focussing the majority of their investments around Malaysia, Labuan, Hong Kong, Mainland China and Singapore.

Bridge Capital Advisors (BCI International PLC ), a member of the BCI International PLC group has over 20 years of experience and are authorized to offer a full range of trust services to both institutional and individual investors. BCI International PLC, a licensed trust company, is qualified and is duly registered to act as a Corporate Bond Trustee on behalf of Standard Chartered (Hong Kong) Limited with an un-restricted corporate guarantee from Standard Chartered Bank PLC  with the Malaysia Securities Commission, to also act as a licensed Trustee for Mutual Funds, Unit Trust Funds, Real Estate Investment Trusts (REITs) as well as Private Retirement Schemes (PRS).

BCI International PLC. IS REGULATED BY SECURITIES COMMISSION MALAYSIA & COMPANIES COMMISSION OF MALAYSIA.

BCI International PLC. IS REGULATED BY LABUAN FINANCIAL SERVICE AUTHORITY Company Number LL09900.

This document is important: If you are in any doubt as to the meaning of any information in this Prospectus or as to whether an investment in the BCI International PLC Investment Funds  or one of its sub-funds is suitable for you, you should consult your financial advisor. This is the Prospectus of BCI International PLC Partnership Plan valid as at 1 April 2017.

This Prospectus has been prepared by BCI international PLC (BCIIPLC) in accordance with the rules contained in the Labuan Financial Services Authority’s Handbook. The Company is incorporated in Labuan as an investment trust.

The Shareholders are not liable for the debts of the Company. BCIIPLC is the Authorised Corporate Director of the Company. BCIIPLC is responsible for the information contained in this Prospectus. To the best of its knowledge and belief (having taken all reasonable care to ensure that such is the case) the information contained in this document is in accordance with the facts, does not contain any untrue or misleading statement and does not omit anything likely to affect the importance of such information or any matters required to be included in it by the Labuan Financial Services Authority’s Handbook. BCIIPLC accepts responsibility for the Prospectus accordingly.

Please down load the full Partnership Program Application here

DOWNLOAD PARTNERSHIP PROGRAM PROSPECTUS