International Equity Fund

The Armada International Equity Fund is for investors who recognize the value of diversifying their portfolios internationally. The Fund invests a broadly diversified portfolio of developed countries in Europe, Australia, and Far East. 
xml version="1.0"?>
MARKET WATCH
(01:10 to NY close)
S&P 500925.55-8.98-0.96%
DJIA8787.29-75.28-0.85%
NASDAQ1458.35-26.43-1.78%
10-yr Note4.24+0.020.52%
Get Quote: 
Ticker Lookup




PRICE  (A Shares as of 12/2): $7.87


as of 9/30/2002     Average Annual Total Returns and Ratings
International Equity Fund Current
Quarter End
YTD 1 Year 3 Year 5 Year 10 Year/
Since Inception
A Shares -24.39% -26.57% -18.72% -14.88% -5.48% -5.33%
B Shares -24.00% -26.53% -18.86% -14.92% -5.32% -4.82%
C Shares -20.80% -23.44% -15.44% -13.84% -4.96% -4.82%
H Shares -21.70% -24.28% -16.46% -14.16% -5.17% -5.03%
I Shares -19.83% -22.09% -13.72% -13.03% -4.15% -4.04%
Morgan Stanley MSCI EAFE Index -19.73% -21.04% -15.53% -14.60% -5.65% N/A

Investment Objective

The Armada International Equity Fund is for investors who recognize the value of diversifying their portfolios internationally. The Fund invests a broadly diversified portfolio of developed countries in Europe, Australia, and Far East.

Risk & Reward
Asset Class Comparison


Compare this Fund to other Armada Funds

Fund Statistics


  All data is as of quarter end,
  unless otherwise indicated.
Class A Shares
Cusip Number 042086611
NASDAQ Symbol AMIEX
Net Asset Value as of 12/2/2002 $7.87
Net Asset Value past 12 months
High: $9.93
Low: $7.16
Public Offering Price $8.33
Inception Date 8/1/1997
Dividends Frequency Annually
Dividends Paid ($ per share)
Past Quarter
Past 12 Months
 
 N/A
 N/A
Total Net Assets (millions) $380.42

Top Ten Holdings

as of 11/30/2002  (% of total net assets)
Holdings are Subject to Change.

BP AMOCO 2.64%
GLAXOSMITHKLINE PLC-ADS 1.89%
HSBC HLDGS - NEW (HKD) 1.77%
VODAFONE GROUP PLC 1.67%
TOYOTA MOTOR CORP 1.49%
UBS AG - REGISTERED 1.37%
ROYAL DUTCH PET -NY REG 1.36%
ROYAL BANK OF SCOTLAND 1.28%
NESTLE SA 1.28%
NTT DOCOMO INC 1.16%

Investment Strategy

The Armada International Equity Fund invests in the countries included in the Morgan Stanley Capital International Europe, Australasia, and Far East (MSCI EAFE) Index*. Our management team determines an overall global region for allocation, and then finds it advantageous to tilt the portfolio toward or away from sectors to achieve added returns. They select companies which have a sound business strategy and position, and have the financial structure to match. Emerging countries are limited to no more than 10% of the portfolio.

Growth of a $10,000 Investment


Provides a graphical-view of this fund’s growth of $10,000 without sales charges over a multi-year period. The graph illustrates two values: growth of principal only and growth of principal including reinvestment of dividends and capital gains.


Country Allocation


United Kingdom 34.29%  
Japan 17.62%  
Germany 7.65%  
Switzerland 7.19%  
France 6.89%  
Netherlands 6.26%  
Italy 3.71%  
Spain 3.43%  
Ireland 1.69%  
South Korea 1.40%  


Index Comparison

Compare this fund’s performance, over various time periods, to the index of your choice. Just select the time period and index from the drop-down menus.


Management Team

At Armada, specialization is the key to our investment management philosophy. Our portfolio managers and research analysts work in independent teams. Each team focuses on a single sector or investment style. Their dedication and clear focus are reflected in the unwavering style purity of our funds.

International Equity Investment Management Team
Daniel Bandi, CFA  Managing Director of Equity Investment
Alfredo Rotemberg  Senior Portfolio Manager


Armada Fund Family

Small Cap Growth Fund Mid Cap Growth Fund Large Cap Ultra Fund International Equity Fund Small Cap Value Fund Small/Mid Cap Value Fund Equity Growth Fund Tax Managed Equity Fund Equity Index Fund Core Equity Fund Large Cap Value Fund Aggressive Asset Allocation Fund Balanced Asset Allocation Fund Conservative Asset Allocation Fund GNMA Fund U.S. Government Income Fund Bond Fund Total Return Advantage Fund Limited Maturity Bond Fund Intermediate Bond Fund Ohio Municipal Money Market Fund Pennsylvania Tax Exempt Money Market Fund Tax Exempt Money Market Fund Money Market Fund Government Money Market Fund Treasury Plus Money Market Fund Treasury Money Market Fund National Tax Exempt Bond Fund Pennsylvania Municipal Bond Fund Ohio Tax Exempt Bond Fund Michigan Municipal Bond Fund

Returns for the period Apr 8, 2002 to Jan 5, 2000 reflect the performance of the Fund’s Class C Shares, returns for the period Jan 5, 2000 to Jan 6, 1998 reflect the performance of the Fund’s Class B Shares, returns for the period Jan 6, 1998 to Aug 1, 1997 reflect the performance of the Fund’s Class A Shares, and returns for the period prior to Aug 1, 1997 reflect the performance of the Fund’s Class I Shares.
For Class H shares, the annualized return since the actual inception date of Apr 8, 2002 was N/A without sales charge and N/A with sales charge. For Class B shares, the annualized return since the actual inception date of Jan 6, 1998 was -2.42% without sales charge and -2.8% with sales charge. For Class A shares, the annualized return since the actual inception date of Aug 1, 1997 was -3% without sales charge and -4.02% with sales charge.
The Class A shares have a maximum sales charge of 5.50%. The Class B shares have a maximum contingent deferred sales charge of 5.00%. The Class H shares have a 1.00% front end sales charge, in addition to a 1.00% maximum contingent deferred sales charge on shares held less than 18 months.
For Class C shares, returns for the period Jan 5, 2000 to Jan 6, 1998 reflect the performance of the Fund’s Class B Shares, returns for the period Jan 6, 1998 to Aug 1, 1997 reflect the performance of the Fund’s Class A Shares, and returns for the period prior to Aug 1, 1997 reflect the performance of the Fund’s Class I Shares.
For Class C shares, the annualized return since the actual inception date of Jan 5, 2000 was -19.47% without sales charge and -19.47% with sales charge.
The Class C shares do not have a front end sales charge, but do have a 1.00% charge on redemptions of shares that are held for less than 18 months.
In addition to the normal risks associated with equity investing, international investing may involve additional risk of capital loss due to unfavorable fluctuations in currency values, as well as economic or political instability in other nations.
The Index is not connected with the Armada International Equity Fund. It is not possible to invest in this or any other index. Country allocation may or may not total 100%.

Mutual funds involve risks including possible loss of principal. Performance figures quoted herein may be lower due to recent market volatility. Past performance is not indicative of future performance, and the principal value and investment return will fluctuate, so that you may have a gain or loss when you sell your shares. National City Investment Management Company (IMC) serves as investment adviser to Armada Funds, for which it receives an investment advisory fee. Armada Funds are distributed by SEI Investments Distribution Co. (SIDC), Oaks, PA 19456. SIDC is not affiliated with IMC and is not a bank. This must be accompanied or preceded by a current Armada prospectus. Read it carefully before you invest or send money.

Total returns shown reflect reinvestment of dividends and capital gains.
During the reporting periods shown, the administrator, custodian and advisor have waived fees. Without such waivers, performance would have been lower.

During the reporting periods shown, the administrator, custodian and advisor have waived fees. Without such waivers, performance would have been lower.



Armada Funds Products