Pricing & Performance

* Expense ratios are as of the plan’s most recent Program Description.

Performance may reflect waivers or reimbursements of fund expenses by the advisor or its affiliates. Absent these waivers, or reimbursement arrangements, performance results may be lower. View a list of portfolios for which the investment advisor or its affiliates has agreed to reimburse or waive a portion of the fund expenses. Unless a specific end date is provided, the waiver or reimbursement may be revised or discontinued at any time.

Performance data quoted represents past performance, and current performance may be lower or higher. Past performance is no guarantee of future results. The investment return and principal value will fluctuate so that, when redeemed, units may be worth more or less than the original cost.  Please visit www.futurescholar.com for the most recent month-end performance updates.

Total returns, including sales charges, are calculated with the maximum  initial sales charge of 5.75% for Class A units, except for Federal Securities and High Income portfolios, which include the maximum initial sales charge of 4.75% for Class A units; Total Return Bond portfolio includes a maximum initial sales charge of 3.25% for Class A units; and Stable Capital Portfolio has no sales charge. For Class B units, total returns including sales charges are shown with the applicable maximum contingent deferred sales charge (CDSC) for the holding period after an initial purchase as follows: through the first year, 5%; second year, 4%; third year, 3%; fourth year, 3%; fifth year, 2%; sixth year, 1% and thereafter, 0%. These shares convert to Class A units in the eighth year after purchase. For Class C units, total returns  including sales charges are shown with a 1% CDSC for the first year after  purchase only.

Assets invested under Pricing Alternative E are not subject to any initial or contingent deferred sales charges. Class E units are sold only at portfolio unit value (PUV) with no 12b-1 fee. Class E units have limited eligibility and the investment minimum requirement may vary. Only eligible investors may purchase Class E units of the portfolio, directly or by exchange.

Class Z units are sold only at portfolio unit value (PUV) with no 12b-1 fee.  Class Z units have limited eligibility and the investment minimum  requirement may vary. Only eligible investors may purchase Class Z units of the portfolio, directly or by exchange. Please see the official statement for this and other details. The performance data shown does not reflect the expenses of the portfolios including the management fee, marketing fees, any sales or redemption charges and account maintenance fees, and the returns shown would be lower if it did. Total returns assume the reinvestment of all underlying fund distributions at NAV and may reflect  any voluntary waiver or reimbursement of fund expenses by the advisor or its affiliates. Absent these waivers or reimbursement arrangements, performance results may have been lower.

As of 01/01/2009, Merrill Lynch & Co., Inc. is a wholly-owned subsidiary of Bank of America Corporation and an affiliate of Columbia Management.