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HEXAM Emerging Markets
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Ticker: FHEMX
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Investment Objective
The Frontegra HEXAM Emerging Markets Fund's goal, also referred to as its investment objective, is long-term capital growth.

Principal Investment Strategy
The Fund seeks to achieve its goal by investing at least 80% of its net assets in securities of emerging market companies. For purposes of the 80% policy, net assets include any borrowings for investment purposes.The Fund invests primarily in equity securities but may also invest in equity-related instruments and certain fixed income securities. Equity-related instruments include American Depositary Receipts ("ADRs"), Global Depositary Receipts ("GDRs"), Participatory Notes ("P-Notes") and convertible securities. HEXAM Capital Partners, LLP, the Fund's subadviser ("HEXAM"), defines emerging markets as any market not included in the Morgan Stanley Capital International ("MSCI") World Index, which includes 24 developed market country indices. The Fund will invest primarily in the markets represented in the MSCI Emerging Markets Index, a free float adjusted market capitalization index that is designed to measure the market performance of emerging markets. As of September 30, 2012, the MSCI Emerging Markets Index consisted of the following 21 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand and Turkey. HEXAM considers "emerging market companies" to be companies organized under the laws of emerging market countries, have securities principally traded on an exchange or over-the-counter in the emerging market countries or companies that, regardless of where they are organized or traded, have at least 50% of assets located in and/or derive at least 50% of their revenues from goods purchased or sold, investments made or services performed in or with emerging market countries.

The Fund may invest up to 20% of its total assets in companies listed on regulated exchanges of countries not included in the MSCI Emerging Markets Index (excluding GDRs and ADRs of emerging market companies). The Fund may also invest up to 20% of its total assets in government-backed fixed income securities issued by governments included in the MSCI Emerging Markets Index. The Fund is diversified.

In constructing the Fund's portfolio, HEXAM focuses on emerging market companies with the prospect of yielding the highest capital gains. HEXAM is a research-based, analytical, active investment manager that uses a Growth, Liquidity, Currency, Management and Valuation ("GLCMV") factor model. HEXAM's portfolio managers use this model to identify unrecognized or mispriced earnings potential that could lead to outperformance or a re-rating at a stock or country level using a blended top-down and bottom-up approach.

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Annual Fund Operating Expenses (As of Prospectus Dated 11/1/12)
(expenses that are deducted from Fund assets)
Management Fees 0.90%
Distribution (12b-1) Fees                                          NONE
Other Expenses 0.75%
Acquired Fund Fees and Expenses 0.01%
Total Annual Fund Operating Expenses 1.66%
Fee Waiver -0.35%
Net Expenses 1.31%

Pursuant to an expense cap agreement between Frontegra Asset Management, Inc. ("Frontegra") and the Fund, Frontegra has agreed to waive its management fee and/or reimburse the Fund’s operating expenses to the extent necessary to ensure that the Fund’s total operating expenses do not exceed 1.30% of the Fund’s average daily net assets. The expense cap agreement will continue in effect until October 31, 2013 with successive renewal terms of one year unless terminated by Frontegra or the Fund prior to renewal. “Other Expenses” are presented before any waivers or expense reimbursements.

Past performance does not guarantee future results.  The principal value of an investment and investment return will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.  Current performance may be lower or higher than the performance quoted and may be obtained by calling 888-825-2100.  Investment performance reflects contractual fee waivers in effect.  In the absence of such waiver, total returns would be reduced.

The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing.  The prospectus contains this and other important information about the Frontegra Funds, and it may be obtained by downloading or calling 888-825-2100.  To download, select the Prospectus option located on the left sidebar.

Mutual fund investing involves risk; principal loss is possible.

Principal Risk Factors. The main risks of investing in the Fund are:

Market Risks. The Fund's investments are subject to market risk, which may cause the value of the Fund's investments to decline. If the value of the Fund's investments goes down, the share price of the Fund will go down, and you may lose money. U.S. and international markets have experienced extreme volatility, reduced liquidity, credit downgrades, increased likelihood of default and valuation difficulties in recent years.

Management Risks. The Fund is subject to management risk as an actively-managed investment portfolio. There can be no guarantee that the decisions of the portfolio managers will produce the desired results.

Stock Selection Risks. Stock prices vary and may fall, thus reducing the value of the Fund's investments. The stocks selected for the Fund may decline in value or not increase in value when the stock market in general is rising.

Equity Securities Risks. The Fund will normally invest its assets primarily in equity securities, which generally fluctuate in value based on the earnings of a company and on general industry and market conditions.

Liquidity Risks. Liquidity risk is the risk that certain securities may be difficult or impossible to sell at the time and price that HEXAM would like to sell. HEXAM may have to lower the price, sell other securities instead or forego an investment opportunity.

Foreign Securities Risks. The Fund's foreign investments involve additional risks, including less liquidity, currency-rate fluctuations, political and economic instability, differences in financial reporting standards and less strict regulation of the securities markets.

Currency Risks. The value of the Fund's foreign securities as measured in U.S. dollars may be affected unfavorably by changes in foreign currency exchange rates. The Fund may also incur costs in connection with conversions between various currencies.

ADR and GDR Risks. The risks of ADRs and GDRs include many of the risks associated with investing directly in foreign securities, such as currency-rate fluctuations and political and economic instability.

P-Note Risks. The risks of P-Notes also include many of the risks associated investing directly in foreign securities. Additionally, P-Notes may be subject to counterparty risk, which is the risk that the broker-dealer or bank that issues the notes will not fulfill its contractual obligations under the notes.

Emerging Markets Risks. The risks of foreign investments typically are greater in emerging markets due to factors such as smaller securities markets and lower trading volumes, less developed legal and accounting structures, substantial influence by an emerging market country's government over the private sector and potential high levels of inflation, deflation or currency devaluations.

Settlement Risks. Settlement problems, which could result in periods when assets of the Fund are not invested and no return is earned thereon or restrictions on the Fund's ability to dispose of a portfolio security, are more prominent in emerging market countries.

Region or Sector Risks. The Fund may invest a higher percentage of its total assets in a particular country, region or sector of international markets, which may have a significant impact on the Fund's overall portfolio.

Non-U.S. Government-Backed Fixed Income Securities Risks. The Fund may invest in government-backed fixed income securities issued by the governments of countries included in the MSCI Emerging Markets Index, such as "non-dollar bonds" or U.S. dollar foreign bonds. Indirect foreign currency risk and the other foreign risk factors apply to the foreign issuers of U.S. dollar foreign bonds. Investments in non-U.S. Government securities are also subject to varying degrees of credit risk (the risk that an issuer may be unable to meet scheduled interest and principal payment obligations or may default) and interest rate risk (the risk that bond prices generally fall as interest rates rise).

Frontegra Funds, Inc. are distributed by Frontegra Strategies, LLC, an affiliate of Frontegra Funds, Inc., and managed by Frontegra Asset Management, Inc.

Frontegra Strategies, LLC   is located at 400 Skokie Boulevard, Suite 500, Northbrook, Illinois 60062, and can be contacted by calling (847) 509-9860.  Frontegra Strategies, LLC is a member of the Financial Industry Regulatory Authority, Inc. and SIPC. www.finra.org

You may obtain information about SIPC, including the SIPC brochure, by visiting www.sipc.org or calling SIPC at (202) 371-8300.


The Frontegra Funds are not offered for sale in countries other than the United States and its territories.