[Overview]   [Performance]   [Holdings/Sectors]   [Management/Commentary]   [Distributions]  

Overview

Fund Type	Inception Date	Ticker Symbol	WSJ Abbreviation	CUSIP	Investment Style
Retail Class	6/1/1988	WTIBX	PlusBd	957904675	Core Plus Bond
Institutional Class	9/28/2007	WIIBX	NA	957904485	Core Plus Bond

Investment Strategy

Designed for long-term investors seeking current income or portfolio diversification from a more moderate fixed income investment, Westcore Plus Bond Fund seeks long-term total rate of return, consistent with preservation of capital, by investing primarily in investment-grade bonds of varying maturities.

Westcore Plus Bond Fund uses a bottom-up, fundamental research philosophy that emphasizes stable-to-improving credit fundamentals, solid underlying asset value and a long-term horizon. The majority of the return provided by fixed income investments comes for the income stream, and our investment philosophy never loses sight of this basic fact. This drives Westcore Plus Bond Fund toward a heavy emphasis on corporate bonds, followed by mortgages and asset-backed securities, with the majority of securities maintaining investment-grade ratings.

Downloadable Fact Sheet

Download and view the most recent Westcore Plus Bond Fund Quarterly Fact Sheet as a PDF file. This Fact Sheet contains complete information, including: Fund Strategy Portfolio Review and Outlook Investment Performance versus Benchmark Portfolio Characteristics Top Ten Holdings Sector Diversification Morningstar Ratings Fees and Expenses If you do not currently have Adobe Acrobat ReaderTM on your computer, you can download it for free now.

Portfolio Characteristics

Portfolio Characteristics as of 3/31/2008   Westcore Plus Bond Fund Lehman Brothers Aggregate Bond Index Index Retail Class Net Assets $1,138.2 mil. N/A Institutional Class Net Assets $68.3 mil. N/A Total Core Bond Management Assets $2,423.5 mil. N/A 30-Day SEC Yield1 4.66% N/A Coupon 5.44% 5.41% Effective Maturity 7.80 years 7.05 years Mod. Duration 4.47 years 4.38 years Average Credit Quality AA- AGY Yield to Maturity 4.71% 4.55% Annual Turnover Ratio for period ended 3/31/2008 44.5% N/A 1Without fee waiver and/or expense reimbursement for the Westcore Plus Bond Fund the yield figure would have been 4.42%. Total return and yield figures represent past performance. See our online glossary for definitions to the terms above.

Expense Information

Shareholder Fees (fees paid directly from your investment): Retail Class Institutional Class Redemption Fee (as a percentage of amount redeemed or exchanged within 90 calendar days from their date of purchase) 2.00% 2.00% Annual Account Maintenance Fee (for Retail Class accounts under $750 as further described in prospectus) $12.00 None Annual Fund Operating Expenses (expenses that are deducted from Fund assets): Retail Class Institutional Class Management Fees(1) 0.45% 0.45% Distribution (12b-1) Fees NONE NONE Other Expenses 0.37% 0.85% Acquired Fund Fees and Expenses (2) 0.01% 0.01% Total Annual Fund Operating Expenses 0.83% 1.31% Fee Waiver and Expense Reimbursement(1) (0.27)% (0.86)% Net Annual Fund Operating Expenses(1) 0.56% 0.45% (1)The Fund's Adviser and Administrators have contractually agreed to waive a portion of the investment advisory and/or administration fees and/or to reimburse other expenses for the Westcore Plus Bond Fund from April 29, 2008 until at least April 29, 2009, so that Net Annual Fund Operating Expenses will be no more than 0.55% for theFund's Retail Class for such period. In addition, the Advisor has contractually agreed to waive and/or reimburse the Institutional Class its proportionate share of the Retail Class waiver and/or reimbursement plus the ongoing class-specific expenses until at least April 29, 2009. You will be notified if these waivers and/or reimbursements are discontinued after that date resulting in a material change in expense ratio. (2)Each Fund's shareholders indirectly bear the expenses of the other funds in which the Fund invests (Acquired Funds). The operating expenses in this fee table may not correlate to the expense ratios in the Fund's financial statements (or the financial highlights in the prospectus) because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in the Acquired Funds.

Investment Minimums

Westcore Funds requires a low minimum amount to open an account, relative to many other fund companies. We also offer flexibility with the Westcore Automatic Investment Plan.

	Retail Class	Institutional Class
To open a new account	$2,500	$500,000
To open a new Retirement Account, Education Savings Account or UGMA/UTMA Account	$1,000	$500,000
To open a new account with the Westcore Automatic Investment Plan	$1,000	NA
Automatic Investments	Equivalent to $100 per month	NA
To add to any type of account	$100	NA

Account Services

Automated Phone Access Online Account Access Wire and ACH Transmissions Individual, Joint, Traditional/Roth IRA, Education Savings, UGMA/UTMA, Corporate Accounts Available Automatic Exchanges

How to Start Investing with Westcore

Everything you need to start investing with Westcore is right here: Get the facts about Westcore with a Westcore Funds Prospectus. Open a new account with a Westcore Account Application. Learn more about Westcore IRAs with a Westcore IRA Brochure. Open an IRA account with a Westcore IRA Application and Transfer Form. Learn more about Westcore Education Savings with Coverdell Education Savings Account Information Open an Education Savings Account with a Coverdell Education Savings Account Application.

Performance

Average Annual Total Returns for the periods ended 6/30/2008
Fund Name	Quarter	YTD	1-Year	3-Year	5-Year	10-Year	Since Inception (6/1/1988)	30-Day SEC Yield*	Fund Expense1 Gross/Net
Westcore Plus Bond Fund Retail Class	(0.99)%	0.14%	4.43%	3.94%	4.89%	5.88%	6.86%	4.95%	0.87% / 0.56%
Westcore Plus Bond Fund Institutional Class	(0.97)%	0.28%	4.61%	4.00%	4.92%	5.90%	6.87%	5.03%	0.87% / 0.47%
Lehman Brothers Aggregate Bond Index	(1.02)%	1.13%	7.12%	4.08%	3.86%	5.68%	7.46%

*Without fee waiver and/or expense reimbursements, yield would have been 4.71% and 4.76%, respectively.

Annual Total Returns from 6/1/1998
Year	Westcore Plus Bond Fund - Retail Class	Westcore Plus Bond Fund - Inst'l Class	Lehman Brothers Aggregate Bond Index
2007	5.42%	5.45%	6.97%
2006	5.85%	NA	4.33%
2005	2.06%	NA	2.42%
2004	6.39%	NA	4.34%
2003	11.61%	NA	4.10%
2002	7.18%	NA	10.26%
2001	6.78%	NA	8.45%
2000	10.34%	NA	11.63%
1999	0.43%	NA	(0.83)%
1998	6.47%	NA	8.67%
1997	8.25%	NA	9.67%
1996	3.79%	NA	3.61%
1995	15.01%	NA	18.48%
1994	(3.38)%	NA	(2.92)%
1993	9.87%	NA	9.75%
1992	7.14%	NA	7.40%
1991	20.23%	NA	16.00%
1990	1.57%	NA	NA
1989	11.23%	NA	NA
1988	3.77%	NA	NA

Daily NAV
Fund Name	NAV as of 07/23/2008	$ Change in NAV	% Change in NAV
Westcore Plus Bond Fund	$10.18	$0.01	0.10%

Morningstar Rating TM as of 6/30/2008
Overall	3-Year	5-Year	10-Year
(of 990 funds)	(of 990 funds)	(of 831 funds)	(of 438 funds)

2007 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Morningstar proprietary ratings reflect historical risk-adjusted performance as of 6/30/08. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, ten-year (if applicable) Morningstar Rating metrics. During periods on which ratings are based, service providers of the Fund waived fees. This waiver had a material impact on the funds' average annual returns. In the absence of fee waivers, performance would have been reduced.

Westcore Plus Bond Fund - Retail Class was rated against the following numbers of U.S.-domiciled Intermediate-Term Bond funds over the following time periods: 990 funds in the last three years, 831 funds in the last five years, and 438 funds in the last ten years. With respect to these Intermediate Term-Bond funds, Westcore Plus Bond Fund - Retail Class received a Morningstar Rating of 4 stars, 5 stars and 5 stars for the three-, five- and ten-year periods, respectively. Past performance is no guarantee of future results.

Click here for the most recent month-end Morningstar Ratings information.

$10,000 Hypothetical Investment Graph

The performance data quoted represents past performance. Past performance does not guarantee future results and current performance may be lower or higher than the performance quoted. To obtain current performance as of the most recent month-end, please call 1-800-392-CORE (2673) or visit us online at www.westcore.com. Average annual total returns and yield figures reflect the reinvestment of dividends, capital gains distributions, all fee waivers and expense reimbursements. Without the fee waivers and expense reimbursements, total return and yield figures would have been lower. The performance data quoted does not reflect the deduction of the 2% redemption fee imposed if shares are redeemed or exchanged within three months of purchase. If imposed, the fee would reduce the performance quoted. Total return and yield figures represent past performance. Investment return and principal value will vary, and shares, when redeemed, may be worth more or less than their original cost. Westcore fund shares are not insured by the FDIC, the Federal Reserve Board or any other agency and are subject to investment risk.

Performance information for the Institutional Class shares prior to their inception date is based on the performance of the Retail Class.

¹The Funds' Adviser and Administrators have contractually agreed to waive a portion of the investment advisory and/or administration fees and/or to reimburse other expenses from April 29, 2008 until at least April 29, 2009, so that Net Annual Fund Operating Expenses will be no more than quoted for the current fiscal year. You will be notified if these waivers and/or reimbursements are discontinued after that date resulting in a material change in expense ratio. The waivers are described in more detail in the prospectus.

Holdings/Sectors

Top Ten Holdings as of 3/31/2008 (updated quarterly upon availability)
Company Name	% of Portfolio
CSX Transportation	1.56%
BMW USA	1.05%
Burlington Northern	1.03%
ConocoPhillips	1.02%
Nevada Power	0.98%
Coca-Cola	0.95%
BHP Billiton	0.93%
Simon Property Group	0.92%
Abbott Labs	0.90%
Duke Energy	0.88%

Top ten holdings are subject to change, and there are no guarantees that the Fund will continue to remain invested in any particular company or holding.

Download and view the most recent Westcore Plus Bond Fund Composition Sheet as a PDF file. This Composition Sheet contains complete holdings for the Fund. Updated monthly upon availability. If you do not currently have Adobe Acrobat ReaderTM on your computer, you can download it for free now.

Sectors as of 3/31/08 Industrial Bonds 21.7% Finance Bonds 4.6% REITs 5.2% Transportation Bonds 2.8% Utility Bonds 5.7% Non-Corporate 0.2% Asset Backed Securities 6.8% Mortgage Backed Securities 25.9% Preferred Securities 2.9% Common Stock 0.1% U.S Treasury Securities 20.1% U.S. Agency Securities 0.4% Convertible Preferred Stock 0.2% Muni Bond Securities 0.8% Cash and Equivalents 2.6%

S & P Bond Quality Ratings as of 6/30/08 Government 43.17% AAA 6.50% AA 7.04% A 13.15% BBB 17.58% BB 2.96% B 2.93% Below B 0.78% Non-Rated 0.80% Cash 5.10%

Management/Commentary

	Mark R. McKissick, CFA, Lead Portfolio Manager, Westcore Plus Bond Fund Mark R. McKissick, CFA, a Vice President of Denver Investment Advisors is responsible for managing the Westcore Plus Bond Fund and Westcore Flexible Income Fund. He has been a fixed income research analyst with Denver Investment Advisors since 1999. His previous experience includes work with Hotchkis & Wiley, Payden & Rygel Investment Council, and Salomon Brothers. He also worked as a Senior Accountant with Ernst & Young with his CPA (although he is non-practicing now). Mark earned a B.S. from Oklahoma State University and an M.B.A. from the University of Chicago. He is a Chartered Financial Analyst and a member of the CFA Society of Colorado.
"Intensive industry and credit research value analysis are the driving forces behind our fixed-income strategy. The philosophy continues to overweight corporate bonds due to their yield advantage." Those individuals listed as CFAs have earned the right to use the Chartered Financial Analyst designation.

Manager Commentary/Current Issues

As of 3/31/08 The first quarter of 2008 was one of the more newsworthy in the last thirty years-unfortunately, most of the news was negative for the economy. The Federal Government reacted by taking unprecedented and extraordinary steps to intervene in the markets. The Fed opened itself to lending to primary dealers in addition to commercial banks. They also established new lending programs in an attempt to alleviate the severe illiquidity in the credit markets. The Treasury Department also stepped in with a massive plan directed at overhauling and restructuring the regulatory process of the United States financial system. While the federal government has effectively stabilized the markets through this extremely volatile period, it is not clear that the underlying problems themselves have been addressed. The asset deflation in the housing sector appears to have further to go. At the same time, we are facing the collapse of a pervasive credit bubble due to weak underlying quality and reduced debt-servicing capability. We believe this combination will continue to exert downward pressure on the economy as a whole. Finally, with oil prices over $100/barrel, gold near $1,000/ounce, and a weakening U.S. dollar, inflation may be a concern in the not too distant future. We are selectively reinvesting cash and repositioning the Fund as we see opportunities to buy attractive securities. We continue to see securities we find promising in the energy, utility, global technology and cost competitive consumer staple industries. As with all episodes like the market is currently experiencing, many solid long-term investments are categorically discounted to attractive long-term values as less patient, objective-constrained, market participants choose to sell securities at what we believe is the most inopportune time.

Distributions

Recent Distributions

The amounts shown below are paid per share. View our fund prospectus online for more information on distributions.

Retail Class Type Amount Record Date Ex-Date Pay Date Income $0.0411 6/25/2008 6/26/2008 6/30/2008 Income $0.0403 5/27/2008 5/28/2008 5/30/2008 Income $0.0441 4/25/2008 4/28/2008 4/30/2008 Income $0.0457 3/26/2008 3/27/2008 3/31/2008 Income $0.0434 2/26/2008 2/27/2008 2/29/2008 Income $0.0418 1/28/2008 1/29/2008 1/31/2008 Income $0.0443 12/26/2007 12/27/2007 12/31/2007 Income $0.0440 11/27/2007 11/28/2007 11/30/2007 Income $0.0450 10/26/2007 10/29/2007 10/31/2007 Income $0.0445 8/28/2007 8/29/2007 8/31/2007 Income $0.0452 9/25/2007 9/26/2007 9/27/2007 Income $0.0460 7/26/2007 7/27/2007 7/31/2007 Institutional Class Type Amount Record Date Ex-Date Pay Date Income $0.0416 6/25/2008 6/26/2008 6/30/2008 Income $0.0412 5/27/2008 5/28/2008 5/30/2008 Income $0.0446 4/25/2008 4/28/2008 4/30/2008 Income $0.0458 3/26/2008 3/27/2008 3/31/2008 Income $0.0442 2/26/2008 2/27/2008 2/29/2008 Income $0.0435 1/28/2008 1/29/2008 1/31/2008 Income $0.0456 12/26/2007 12/27/2007 12/31/2007 Income $0.0454 11/27/2007 11/28/2007 11/30/2007 Income $0.0453 10/26/2007 10/29/2007 10/31/2007

A fund's income from dividends and interest and any net realized short-term capital gains are paid to shareholders as income dividends. A fund realizes capital gains whenever it sells securities for a higher price than it paid for them. Net realized long-term gains are paid to shareholders as capital gain dividends. A dividend will reduce the net asset value of a fund share by the amount of the dividend on the ex-dividend date.