Year End Distributions

You’ll find year-end per share distributions for Armada Funds listed in the chart below. These distributions are paid to everyone who owns shares on the date of record for distribution, regardless of how long the shares have been held. Review Frequently Asked Questions for more information.

Forms   Armada Funds Distributions   Frequently Asked Questions

  Date Description
Record Date 12/17/2002 All fund shareholders as of close of business on this date will be included in the fundıs distribution calculations.
Ex-Dividend Date 12/18/2002 Date on which the net asset value of a Fund will be adjusted for any distributions.
Payout Date 12/20/2002 Date on which distributions are made to record date shareholders. Distributions may be reinvested for additional shares or paid in cash.

Below are the year-end capital gain distributions per share. Distributions are paid to everyone owning shares on the record date of the distribution, regardless of how long the shares have been held. The distributions will be paid on December 20, 2002, to shareholders of record as of December 17, 2002. 2002 1099-DIV - All tax forms will be mailed on or before January 31, 2003. Reinvested distributions will occur on December 18, 2002.

For further questions, please review Capital Gains Frequently Asked Questions, or call Armada Funds at 1-800-622-FUND.

Fund Name / Shares      Short Term Capital Gain Long Term Capital Gain Total Per Share % of NAV
Total Return Advantage Bond Fund
A Shares $0.0213 $0.0825 $0.1038 0.99%
B Shares $0.0213 $0.0825 $0.1038 0.99%
C Shares $0.0213 $0.0825 $0.1038 0.99%
H Shares -- -- -- --
I Shares $0.0213 $0.0825 $0.1038 0.99%
Michigan Municipal Bond Fund
A Shares $0.0055 $0.0191 $0.0246 0.22%
B Shares $0.0055 $0.0191 $0.0246 0.22%
C Shares $0.0055 $0.0191 $0.0246 0.22%
H Shares -- -- -- --
I Shares $0.0055 $0.0191 $0.0246 0.22%
Large Cap Value Fund
A Shares -- $0.0324 $0.0324 0.24%
B Shares -- $0.0324 $0.0324 0.24%
C Shares -- $0.0324 $0.0324 0.24%
H Shares -- $0.0324 $0.0324 0.24%
I Shares -- $0.0324 $0.0324 0.24%
Small Cap Value Fund
A Shares $0.6172 $0.2212 $0.8384 5.47%
B Shares $0.6172 $0.2212 $0.8384 5.60%
C Shares $0.6172 $0.2212 $0.8384 5.60%
H Shares $0.6172 $0.2212 $0.8384 5.60%
I Shares $0.6172 $0.2212 $0.8384 5.29%
Tax-Managed Equity Fund
A Shares -- $0.0888 $0.0888 0.99%
B Shares -- $0.0888 $0.0888 0.99%
C Shares -- $0.0888 $0.0888 0.99%
H Shares -- $0.0888 $0.0888 0.99%
I Shares -- $0.0888 $0.0888 0.99%




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