Jacob Internet Fund Investor Class Shares

Under normal circumstances, at least 80% of its assets in securities of companies in Internet and Internet-related industries. It primarily invests in common stocks and securities convertible into common stocks, but may invest up to 35% in fixed income or debt securities. The advisor intends to hold some cash, short-term debt obligations, government securities or other high-quality investments for reserves to cover redemptions and unanticipated expenses, to seek income, or to maintain liquidity while seeking appropriate investments.