RS Funds Investment Team Commentaries

Click on the PDF icon below to download the portfolio manager commentary for the fund in which you are interested.

Most Recent

RS Value Funds

	Q1 2009	Q2 2009	Q3 2009	Q4 2009
RS Partners Fund
RS Value Fund
RS Large Cap Alpha Fund (formerly RS Core Equity Fund)
RS Investors Fund
RS Global Natural Resources Fund

RS Growth Funds

	Q1 2009	Q2 2009	Q3 2009	Q4 2009
RS Small Cap Growth Fund (formerly RS Emerging Growth Fund)
RS Select Growth Fund
RS Mid Cap Growth Fund (formerly RS MidCap Opportunities Fund)
RS Growth Fund
RS Technology Fund
RS Small Cap Equity Fund (formerly RS Small Cap Core Equity Fund)

RS International Funds

	Q1 2009	Q2 2009	Q3 2009	Q4 2009
RS International Growth Fund
RS Emerging Markets Fund

RS Fixed Income Funds

	Q1 2009	Q2 2009	Q3 2009	Q4 2009
RS Investment Quality Bond Fund
RS Low Duration Bond Fund
RS High Yield Bond Fund
RS Tax-Exempt Fund
RS High Yield Municipal Bond Fund	N/A	N/A	N/A
RS Floating Rate Fund	N/A	N/A	N/A
RS Strategic Income Fund	N/A	N/A	N/A
RS Money Market Fund

Other RS Funds

	Q1 2009	Q2 2009	Q3 2009	Q4 2009
RS S&P 500 Index Fund

Statistical Summaries

You should read the current RS Funds' Prospectus before investing. The RS Funds' Statement of Additional Information (SAI) provides information about the Funds that may not be contained in the Prospectus.

RS Funds are sold by Prospectus only. You should carefully consider the investment objectives, risks, charges, and expenses of the RS Funds before making an investment decision. The prospectus contains this and other important information. Please read it carefully before investing or sending money. To obtain a printed copy, please call 800-766-3863.

If you are an existing shareholder and would like a copy of the prospectus or need to contact RS Investments, call 800-766-3863. If you are interested in learning more about and how to invest with RS, please contact your financial professional.

The information on this web site is intended for U.S. residents only. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer.

RS Funds are distributed by: Guardian Investor Services LLC, 7 Hanover Square, New York, NY 10004.

RS is an independent subsidiary of Guardian Investor Services LLC. Guardian Investor Services LLC (GIS), is a registered broker-dealer, registered investment advisor, and a wholly owned subsidiary of The Guardian Life Insurance Company of America.

Not A Deposit / Not FDIC or NCUA Insured / May Lose Value / No Bank or Credit Union Guarantee

GIS is a member: FINRA and SIPC.

© 2009 RS Investment Management Co. LLC
RS Investments is the marketing name for RS Investment Management Co. LLC and its affiliates.