TAILIEUCHUNG - SUPPLEMENT DATED JANUARY 11, 2013, TO THE STATEMENT OF ADDITIONAL INFORMATION FOR CLASS A SHARES, CLASS C SHARES, CLASS Y SHARES, AND CLASS I SHARES, DATED APRIL 30, 2012

Funds with differential performance are either characterized by positive or negative alphas. To determine the source of differential performance, the standard approach partitions the R (γ) significant funds in two groups according to the sign of their estimated alphas. The first group contains the R+ (γ) funds with positive estimated alphas. We refer to them as the best funds. Similarly, the second group is formed with the R− (γ) funds with negative estimated alphas. We call them the worst funds. At a second step, R+ (γ) and R− (γ) are used as estimators of the number of funds with positive alphas and negative performance, respectively | BROOKFIELD INVESTMENT FUNDS SUPPLEMENT DATED JANUARY 11 2013 TO THE STATEMENT OF ADDITIONAL INFORMATION FOR ClAsS a shares class C shares CLASS Y shares and class I shares dated APRIL 30 2012 Effective immediately the following changes apply to the Statement of Additional Information for Class A Shares Class C Shares Class Y Shares and Class I Shares. The last paragraph on page 11 under the sub-section Risks of Options Futures and Forward Contracts is deleted and replaced with the following Exclusion for Definition of Commodity Pool Operator. Pursuant to amendments by the Commodity Futures Trading Commission to Rule under the Commodity Exchange Act CEA the Adviser has filed a notice of exemption from registration as a commodity pool operator with respect to each Fund. Each Fund and the Adviser are therefore not subject to registration or regulation as a pool operator under the CEA. Effective December 31 2012 in order to claim the Rule exemption each Fund is significantly limited in its ability to invest in commodity futures options swaps including securities futures broad-based stock index futures and financial futures contracts . As a result in the future each Fund will be more limited in its ability to use these instruments than in the past and these limitations may have a negative impact on the ability of the Adviser to manage each Fund and on each Fund s performance. Please retain this Supplement with your Statement of Additional Information for reference. BROOKFIELD INVESTMENT FUNDS Brookfield Global Listed Real Estate Fund Class A - BLRAX Class C - bLRCx Class Y - bLRYX Class I - bLRIX Brookfield Global Listed Infrastructure Fund Class A- BGLAX Class C - bGLCx Class Y - bGLYX Class I - BGLIX Brookfield Global High Yield Fund Class A - BGHAX Class C - bGHCx Class Y - bGHYx Class I - bGHIX Brookfield High Yield Fund Class A - BHFAX Class C - bHFCx Class Y - bHFYx Class I - BHFIX Statement of Additional Information April 30 2012 Brookfield Investment .

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