IronBridge Small Cap Fund

Investment Objective

The investment objective of the IronBridge Small Cap Fund ("Small Cap Fund") is capital appreciation.

Portfolio Fees and Expenses

As of the prospectus dated November 1, 2016

The following table describes the fees and expenses that you may pay if you buy and hold shares of the Small Cap Fund.

Shareholder Fees

(fees paid directly from your investment)

Maximum Sales Charge (Load) Imposed on PurchasesNONE
Maximum Deferred Sales Charge (Load)NONE
Maximum Sales Charge (Load) Imposed on Reinvested DividendsNONE
Redemption Fee
(imposed only if redemption occurs within 30 days of purchase; imposed as a percentage of amount redeemed)
NONE
Exchange FeeNONE
Maximum Account Fee(1)$15
(1) A service fee of $15 may be imposed for shares redeemed by wire.

Annual Fund Operating Expenses

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

Management Fees1.00%
Distribution (12b-1) FeesNONE
Other Expenses0.10%
Total Annual Fund Operating Expenses(1)1.10%
(1) The Total Annual Fund Operating Expenses for the Fund do not correlate to the Ratio of Expenses to Average Net Assets in the Financial Highlights which reflects the operating expenses of the Fund and does not include acquired fund fees and expenses ("AFFE").
Expense Example

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

This Example assumes that you invest $10,000 in the Small Cap Fund 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 Small Cap Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

If you sell your shares in:1 Year3 Years5 Years10 Years
Small Cap Fund$112$350$606$1340
* As of the prospectus dated November 1, 2016.
Portfolio Turnover

The Small Cap 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 Small Cap Fund’s portfolio turnover rate was 31% of the average value of its portfolio.

Principal Investment Strategy

The Small Cap Fund seeks to achieve its investment objective by investing, under normal conditions, at least 80% of its assets in equity securities of companies with small market capitalizations. For this purpose, the Adviser defines a small capitalization company as any company with a market capitalization less than or equal to the largest market capitalization of any company in the Russell 2000® Index, which, as of September 30, 2016, was approximately $4.83 billion. The Small Cap Fund may invest in American Depository Receipts and/or Global Depository Receipts and may invest a significant portion of its assets in financial services companies.

The Adviser actively manages the Small Cap Fund by applying an economic return framework. This is a valuation model that uses cash flow, rather than traditional accounting measures such as corporate performance, earnings and book value, to determine a company’s value. The Adviser uses this methodology to identify attractively-priced companies, and as a result, the Small Cap Fund invests primarily in growth and value-style equity securities.

Benchmark

The Russell 2000 Index is an unmanaged index that is designed to measure the small cap segment of the U.S. equity universe. The index does not reflect investment management fees, brokerage commissions, or other expenses associated with investing in equity securities. You cannot invest directly in an index.

Performance

To obtain performance information current to the most recent quarter end, please see the funds' factsheet. For most recent month-end performance please call (877) 861-7714.

Management

Investment Adviser

RMB Capital Management, LLC (the “Adviser”).

Portfolio Managers

Co-managed by Christopher C. Faber (portfolio manager of the Small Cap Fund, and its predecessor fund, since inception), Jeffrey B. Madden (portfolio manager of the Small Cap Fund, and its predecessor fund, since March 3, 2004), and Thomas W. Fanter (since November 1, 2011).

Purchase and Sale of Small Cap Fund Shares

Investors may purchase or redeem Small Cap Fund shares on any business day by mail (IronBridge Funds, Inc., c/o U.S. Bancorp Fund Services, LLC, P.O. Box 701, Milwaukee, Wisconsin, 53201-0701) or by wire transfer. The minimum initial and subsequent investment amounts for the Small Cap Fund are as follows:

Minimum Initial Investments Minimum Subsequent Investments
Small Cap Fund $100,000 $1,000
Tax Information

The Small Cap Fund intends to make distributions that may be taxed as ordinary income or capital gains. If you hold your Small Cap Fund shares through a tax-deferred arrangement, you will not be taxed on dividends and capital gains distributions at the time they are made, but you may be taxed later upon withdrawal of monies from those accounts.

Payments to Broker-Dealers and Other Financial Intermediaries

If you purchase Small Cap Fund shares through a broker-dealer or other financial intermediary (such as a bank), the IronBridge Funds’ related companies (including the Adviser and the Distributor) may pay the intermediary for the sale of Small Cap 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 Small Cap Fund over another investment. Ask your sales person or visit your financial intermediary’s Web site for more information.

Principal Investment Risks

Market Risk

The general level of stock prices as a whole could decline, causing a decline in the value of your investment.

Small-to-Medium Capitalization Risk

The Small Cap Fund invests primarily in small-capitalization stocks. Securities of companies with small-to-medium market capitalizations are often more volatile, less liquid and more susceptible to market pressures than securities of larger issuers.

Stock Selection Risk

Individual stocks may decline in value or not increase in value, even when the stock market in general is rising.

Liquidity Risk

The Adviser may not be able to sell the Small Cap Fund’s securities at a time or at a price would benefit the Fund.

Equity Securities Risk

Common equity stocks are subject to greater volatility and chance of decline than other securities, such as fixed-income securities.

Management Risk

There is no guaranty that the Adviser will choose investments that increase in value.

Growth Investing Risk

Growth companies are generally more susceptible than established companies to market events and sharp declines in value.

Value Investing Risk

Value stocks may not increase in price, may not issue the anticipated stock dividends or may decline in price, based upon the market’s belief of the issuer’s intrinsic worth.

American Depository Receipt (ADR) / Global Depository Receipt (GDR) Risk

ADRs are receipts issued by US banks evidencing ownership in securities of foreign issuers, and GDRs are receipts issued by banks in more than one country evidencing ownership in securities of foreign issuers. Securities of foreign issuers, and consequently ADRs and GDRs, may decrease in value due to changes in currency exchange rates, the economic climate in the issuer’s home country or for a variety of other reasons.

Loss of Money Risk

Loss of money is a risk of investing in the Small Cap Fund.

Financial Service Risk

Investing a significant portion of assets in the financial services sector may cause the Small Cap Fund to be more sensitive to the risks and concerns facing financial companies.

Median Market Cap

This is the market cap of a company that is exactly halfway between the two companies with the highest and the lowest market caps in the portfolio.

Book Value

The value at which an asset is carried on a balance sheet. To calculate, take the cost of an asset minus the accumulated depreciation.

Cash Flow

Measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income.

Mutual fund investing involves risk; principal loss is possible. Each Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the IronBridge Funds and it may be obtained by calling (877) 861-7714 or by downloading from this website. Read the prospectus carefully before investing.

Fund holdings and fund weightings are subject to change and are not recommendations to buy or sell any security. Current and future holdings are subject to risk.

Information contained on this Website does not constitute an offer to sell, or a solicitation of an offer to buy shares of any of the IronBridge Funds, nor shall any such shares be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. The IronBridge Funds are not offered in countries other than the United States and its territories.

The IronBridge Funds, Inc. are distributed by Quasar Distributors, LLC.