Fixed Income Performance as of Dec. 31, 2011	YTD	1YR	3YR	5YR	10YR	Since Inception
LKCM Fixed Income Fund	4.22%	4.22%	6.90%	5.92%	4.76%	5.29%
Barclays Capital Interm. Gov/Credit Bond Index	5.80%	5.80%	5.65%	5.88%	5.20%	5.70%
Lipper Short Intermediate Investment Grade Debt Funds Index	3.99%	3.99%	7.14%	4.80%	4.29%	4.87%

Inception Date: 12/30/97
All periods over one year are annualized.
Net Expense Ratio: 0.65%* Gross Expense Ratio: 0.73%

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Fund performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by calling 1-800-688-LKCM. The fund imposes a 1.00% redemption fee on shares held less than 30 days, and if reflected, the fee would reduce the performance shown.

Investment Objective

The Fund seeks current income.

Portfolio Managers

Joan M. Maynard is the lead portfolio manager of the LKCM Fixed Income Fund and oversees the investment team responsible for the LKCM Fixed Income Fund. Ms. Maynard has been a Vice President and Portfolio Manager of Luther King Capital Management since 1991 and employed by Luther King Capital Management since 1986. Ms. Maynard graduated with a Bachelor of Business Administration from the University of Texas at San Antonio and a Masters of Business Administration from Texas Christian University.

Scot C. Hollmann, CFA, is a member of the investment team responsible for the LKCM Fixed Income Fund. Mr. Hollmann has been a Vice President and Portfolio Manager of Luther King Capital Management since 1983 and Principal since 1986. Mr. Hollmann graduated with a Bachelor of Business Administration and a Masters of Business Administration from Texas Christian University.

Mark L. Johnson, CFA, is a member of the investment team responsible for the LKCM Fixed Income Fund. Mr. Johnson has been a Vice President and Portfolio Manager of Luther King Capital Management since 2002. Mr. Johnson graduated with a Bachelor of Arts from Duke University.

Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities.

*Luther King Capital Management has contractually agreed to waive all or a portion of its management fee and/or reimburse the Fund through April 30, 2012 to maintain designated expense ratios (excluding acquired fund fees). Investment performance reflects fee waivers in effect. In the absence of such waivers, total return would be reduced. Investment performance for the last quarter is based upon net expense ratio.

The Barclays Capital U.S. Intermediate Government/Credit Bond Index is an unmanaged market value weighted index measuring both the principal price changes of, and income provided by, the underlying universe of securities that comprise the index. Securities included in the index must meet the following criteria: fixed as opposed to variable rate; remaining maturity of one to ten years; minimum outstanding par value of $250 million; rated investment grade or higher by Moody's Investors Service or equivalent; must be dollar denominated and non-convertible; and must be publicly issued. A direct investment in an index is not possible.

The Lipper Short Intermediate Investment-Grade Debt Funds Index is an index of short intermediate investment grade mutual funds tracked by Lipper, Inc. A direct investment in an index is not possible.