Mutual Fund Summary Prospectus (497k)
February 08 2013 - 10:41AM
Edgar (US Regulatory)
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Summary Prospectus
February 1, 2013
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MassMutual Premier Funds
MassMutual Premier Main Street Fund
Ticker:
Class SMMSSX, Class YMMSYX, Class LMMSLX, Class AMSSAX, Class NMMSNX
Before you invest, you may want to review the Funds prospectus, which contains more information about
the Fund and its risks. You can find the Funds prospectus and other information about the Fund online at www.massmutual.com/funds. You can also get this information at no cost by calling 1-888-309-3539 or by sending an email request to
fundinfo@massmutual.com.
INVESTMENT OBJECTIVE
The Fund seeks a high total return.
FEES AND EXPENSES OF THE
FUND
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. For Class A shares, you may qualify for sales
charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in MassMutual funds. More information about these and other discounts is available in the section titled
Sales Charges by Class
on page 118 of
the Funds Prospectus or from your financial professional.
Shareholder Fees
(fees paid directly from your investment)
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Class S
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Class Y
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Class L
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Class A
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Class N
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Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price)
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None
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None
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None
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5.75%
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None
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Maximum Deferred Sales Charge (Load) (as a % of the lower of the original offering price or
redemption proceeds)
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None
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None
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None
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None
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1.00%
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Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your
investment)
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Class S
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Class Y
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Class L
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Class A
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Class N
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Management Fees
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.65%
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.65%
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.65%
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.65%
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.65%
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Distribution and Service (Rule 12b-1) Fees
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None
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None
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None
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.25%
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.50%
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Other Expenses
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.16%
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.21%
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.36%
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.36%
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.41%
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Total Annual Fund Operating Expenses
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.81%
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.86%
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1.01%
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1.26%
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1.56%
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Expense Reimbursement
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(.10%)
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(.10%)
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(.10%)
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(.10%)
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(.10%)
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Total Annual Fund Operating Expenses after Expense Reimbursement
(1)
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.71%
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.76%
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.91%
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1.16%
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1.46%
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(1)
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The expenses in the above table reflect a written agreement by MassMutual to cap the fees and expenses of the Fund (other than extraordinary litigation and legal
expenses, Acquired Fund fees and expenses, interest expense, short sale dividend and loan expense, or other non-recurring or unusual expenses such as, for example, organizational expenses and shareholder meeting expenses) through February
2, 2014, to the extent that Total Annual Fund Operating Expenses after Expense Reimbursement would otherwise exceed .71%, .76%, .91%, 1.16%, and 1.46% for Classes S, Y, L, A, and N, respectively. The Total Annual Fund Operating Expenses after
Expense Reimbursement shown in the above table may exceed these amounts, because, as noted in the previous sentence, certain fees and expenses are excluded from the cap. The agreement can only be terminated by mutual consent of the Board of Trustees
on behalf of the Fund and MassMutual.
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Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. It assumes that you invest
$10,000 in each share class of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. For Class A shares, the example includes the initial sales charge. The example also
S-1
assumes that your investment earns a 5% return each year and that the Funds operating expenses are exactly as described in the preceding table. Although your actual costs may be higher or
lower, based on these assumptions your costs would be:
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1 Year
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3 Years
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5 Years
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10 Years
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Class S
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$
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73
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$
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249
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$
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440
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$
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992
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Class Y
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$
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78
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$
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264
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$
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467
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$
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1,052
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Class L
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$
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93
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$
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312
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$
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548
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$
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1,227
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Class A
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$
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686
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$
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942
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$
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1,218
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$
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2,002
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Class N
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$
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249
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$
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483
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$
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840
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$
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1,848
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Except for Class N shares, the figures shown above would be the same whether you sold your shares at the end of a period or
kept them. For Class N shares, you would pay the following expenses if you did not redeem your shares:
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Class N
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$
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149
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$
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483
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$
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840
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$
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1,848
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Portfolio Turnover
The
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 Funds performance. During the most recent fiscal year, the Funds portfolio turnover rate was 37% of the
average value of its portfolio.
INVESTMENTS, RISKS, AND PERFORMANCE
Principal Investment Strategies
The Fund invests
primarily in common stocks of U.S. companies of different capitalization ranges. The Funds subadviser,
OFI Institutional Asset Management, Inc.
(OFI Institutional), currently focuses on companies with market capitalizations
at the time of purchase within the market capitalization range of companies included within the Russell 1000
®
Index (as of December 31, 2012, $317 million to $499.82 billion), although it may
purchase stocks of companies with any market capitalization. The Fund typically invests most of its assets in equity securities of U.S. companies, but may invest in foreign securities. The Fund generally will not invest more than 15% of its total
assets in foreign securities. The Fund may hold a portion of its assets in cash or cash equivalents.
OFI Institutional typically uses fundamental
research and quantitative models to select securities for the
Funds portfolio, which is comprised of both growth and value stocks. While the process may change over time or vary in particular cases, in general the selection process currently uses:
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a fundamental approach in analyzing issuers based on factors such as a companys financial performance and prospects, industry position, and business model and management strength. OFI Institutional may also
consider industry outlook, market trends and general economic conditions.
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quantitative models to rank securities within each sector to identify potential buy and sell candidates for further fundamental analysis. A number of company-specific factors are analyzed in constructing the
models, including valuation, fundamentals and momentum.
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The portfolio is constructed and regularly monitored based upon several analytical
tools, including quantitative investment models.
The Fund aims to maintain a broadly diversified portfolio across all major economic sectors by applying
investment parameters for both sector and position size. OFI Institutional may consider selling a security if, for example, in its judgment, a stocks price is approaching its target, a companys competitive position deteriorates, it
believes that a companys management is executing strategy poorly, or more attractive alternative investment ideas have been identified.
Principal Risks
The following are the Principal Risks of
the Fund. You have the potential to make money by investing in the Fund, but you can also lose money.
Cash Position Risk
The ability of the
Fund to meet its objective may be limited to the extent that it holds assets in cash or otherwise uninvested.
Foreign Investment Risk; Emerging
Markets Risk; Currency Risk
Foreign securities are subject to additional risks compared to securities of U.S. issuers, including international trade, currency, political, regulatory, and diplomatic risks. In addition, fluctuations in
currency exchange rates may adversely affect the values of foreign securities and the price of the Funds shares. Emerging markets securities are subject to greater risks than securities issued in developed foreign markets, including less
liquidity, greater price volatility, higher relative rates
S-2
of inflation, greater political, economic, and social instability, greater custody and operational risks, and greater volatility in currency exchange rates.
Growth Company Risk
The prices of growth securities are often more sensitive to market fluctuations because of their heavy dependence on future
earnings expectations, and can be more volatile than the market in general.
Liquidity Risk
Certain securities may be difficult (or
impossible) to sell or positions difficult to close out at a desirable time and price, and the Fund may be required to hold an investment that is declining in value or be prevented from realizing capital gains.
Management Risk
The Fund relies on the managers ability to achieve its investment objective. There can be no assurance that the Fund will
achieve the desired results and the Fund may incur significant losses.
Market Risk
The value of the Funds portfolio securities may
decline, at times sharply and unpredictably, as a result of unfavorable market-induced changes affecting particular industries, sectors, or issuers. Stock market prices in general may decline over short or extended periods, subjecting the Fund to
unpredictable declines in the value of its shares and poor performance. The Fund is subject to risks affecting issuers, such as management performance, financial leverage, industry problems, and reduced demand for goods or services.
Smaller and Mid-Cap Company Risk
Market risk and liquidity risk are particularly pronounced for securities of smaller companies, which may
trade less frequently and in smaller volumes than more widely-held securities, and may fluctuate in price more than other securities. Smaller companies may have limited product lines, markets, or financial resources and may be dependent on a limited
management group; they may have been recently organized and have little or no track record of success.
Valuation Risk
The Fund is subject
to the risk of mispricing or improper valuation of its investments, in particular to the extent that its securities are fair valued.
Value Company Risk
The value investment approach entails the risk that the market will not
recognize a securitys intrinsic value for a long time, or that a stock judged to be undervalued may actually be appropriately priced.
Performance Information
The following bar chart and
table provide some indication of the risks of investing in the Fund. The bar chart shows changes in the Funds performance from year to year for Class S shares. The table shows how the Funds average annual returns for 1 year, 5 years, and
since inception, compare with those of a broad measure of market performance. Performance for Class A and Class N shares of the Fund reflects any applicable sales charge. Past performance (before and after taxes) is not necessarily an indication of
how the Fund will perform in the future. More up-to-date performance information is available at
http://www.massmutual.com/funds or by calling 1-888-309-3539
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Annual Performance
Class S Shares
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Highest
Quarter:
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2Q 09,
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18.61%
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Lowest
Quarter:
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4Q 08,
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-22.19%
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After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect
the impact of state and local taxes. Actual after-tax returns depend on an investors tax situation and may differ from those shown. After-tax returns are not relevant to investors who hold Fund shares through tax-deferred arrangements, such as
401(k) plans or individual retirement accounts. After-tax returns are shown for Class S only. After-tax returns for other classes will vary.
S-3
Average Annual Total Returns
(For the periods ended December 31, 2012)
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One
Year
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Five
Years
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Since
Inception
(12/31/04)
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Class S
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Return Before Taxes
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16.84%
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1.38%
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3.94%
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Return After Taxes on Distributions
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16.61%
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1.19%
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3.22%
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Return After Taxes on Distributions and Sale of Fund Shares
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11.24%
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1.14%
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3.19%
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Class Y
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Return Before Taxes
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16.83%
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1.35%
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3.83%
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Class L
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Return Before Taxes
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16.56%
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1.17%
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3.70%
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Class A
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Return Before Taxes
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9.57%
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-0.27%
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2.67%
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Class N
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Return Before Taxes
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14.94%
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0.60%
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3.12%
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S&P 500
Index (reflects no deduction for fees, expenses,
or taxes)
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16.00%
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1.66%
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4.22%
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MANAGEMENT
Investment
Adviser:
Massachusetts Mutual Life Insurance Company
Subadviser: OFI Institutional Asset Management, Inc.
Portfolio Managers:
Manind Govil
is a portfolio manager with OFI Institutional. He has managed the Fund since May 2009.
Benjamin Ram
is a portfolio manager with OFI Institutional. He has managed the Fund since May 2009.
PURCHASE AND SALE OF FUND SHARES
Shares of the Fund are generally available to retirement plans, other institutional investors, and individual retirement accounts. Fund shares are redeemable
on any business day by written request, telephone or internet (available to certain customers).
TAX INFORMATION
The Fund intends to make distributions that may be taxed as ordinary income or capital gains, unless you are an investor eligible for preferential tax
treatment.
PAYMENTS TO BROKER-DEALERS AND OTHER FINANCIAL INTERMEDIARIES
If you purchase the Fund through a broker-dealer or other financial intermediary, the intermediary may receive a one-time or continuing payments from the Fund,
MassMutual or its affiliates, or others for the sale of Fund shares or continuing shareholder services provided by the intermediary. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary to recommend
the Fund over another investment. You should contact your intermediary to obtain more information about the compensation it may receive in connection with your investment.
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