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*The Merrill Lynch 1-3 Year U.S. Corporate/Government Index is a market capitalization weighted index including U.S. Treasury and Agency bonds and U.S. fixed coupon investment grade corporate bond and not available for direct investment. Unlike a mutual fund, the performance of the index assumes no taxes, transaction costs, management fees or other expenses.
Quality ratings such as AAA, AA, A, and BBB refer to credit risk of the portfolio securities and not the shares of the Fund.
+Composition of the portfolio is as of 7/31/2003 and is for illustration purposes only. The composition of the portfolio is not a permanent reflection of the Fund. Under normal circumstances, the Fund will invest at least 80% of the value of its net assets in investment grade bonds.
1The value of debt securities may be affected by the ability of issuers to make principal and interest payments. Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates.
2An investment in the Fund is subject to interest rate risk, which is the possibility that the Fund's yield will decline due to falling interest rates.
Total returns reflect reinvestment of dividends, capital gains and applicable sales charges as noted below. Returns also reflect a deduction of all operating expenses, fees, and a voluntary fee waiver in the amount of .10%. Without such fee waiver, performance of the Funds would have been lower. For more complete information on Fund fees and expenses, please read the prospectus.
The inception dates for Class A Shares, Class B Shares, Class C Shares and Class H Shares for the Armada Limited Maturity Fund are 9/09/94, 8/11/99, 1/27/00, and, 2/05/02, respectively. All performance shown for each class of shares prior to each respective inception date is based on the performance of Class I Shares, adjusted to reflect each share classf fees, expenses, and maximum sales charges as specified below.
The maximum sales charge for Class A Shares is 2.75%. With respect to Class B Shares, the maximum contingent deferred sales charge is 5.00%. Class H Shares have a 1.00% front-end sales charge, in addition to a 1.00% maximum contingent deferred sales charge. Class C Shares do not have a front-end sales charge, but do have a 1.00% charge on the redemption of shares that are held for less than 18 months. There are no sales charges for Class I Shares.
Past performance is not indicative of future results. The performance of each class will differ due to differences in sales charge structures and class expenses. Returns and share prices will fluctuate and on redemption, shares may be worth more or less than their original costs.
Shares of Armada Funds are not insured by the FDIC, are not deposits or obligations of, or guaranteed by the bank and involve investment risks, including possible loss of principal. Performance figures quoted herein may be lower due to recent market volatility. 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 Professional Funds Distributor, LLC (PFD), 760 Moore Road, King of Prussia, PA, 19406. PFD is not affiliated with IMC and is not a bank.
This must be accompanied or preceded by a current Armada prospectus. For more complete information, including the charges and expenses of each fund please read the prospectus carefully before you invest or send money.
† All market data and information is provided by Standard & Poor's and is for
informational purposes only. Armada does not guarantee that the information
supplied is accurate, complete or timely, or make any warranties regarding the
results obtained by its use.
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