Government Money Market Fund

The Armada Government Money Market Fund is for investors who need stability of principal and ready liquidity. Investors may choose to invest in the Government Money Market Fund when they have short-term financial goals, or are undecided about how to invest their savings for the longer-term.  		xml version="1.0"?>
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PRICE  (A Shares as of 3/5): $1.00


as of 12/31/2002     Average Annual Total Returns and Ratings
Government Money Market Fund 7-Day
Effective
Yield		 7-Day
Current
Yield		 30-Day
Current
Yield		 Current
Quarter
End		 YTD 1YR 3YR 5YR 10YR/
Since
Inception
A Shares 0.72% 0.72% 0.72% 0.23% 1.21% 1.21% 3.58% 4.07% 4.25%
I Shares 0.97% 0.97% 0.97% 1.46% 1.46% 1.46% 3.81% 4.28% 4.40%
iMoneyNet, Inc. U.S. Government & Agencies Average N/A 0.71% 0.74% 0.22% 1.13% 1.13% 3.46% 3.97% N/A
Government Money Market Fund Quarterly Fund Fact Sheet - A Shares,    I Shares 

Investment Objective

The Armada Government Money Market Fund seeks as a high a level of current income as is consistent with stability of principal by investing primarily in obligations issued or guaranteed by the U.S. government, its agencies or instrumentalities and repurchase agreements.

Risk & Reward
Asset Class Comparison


Compare this Fund to other Armada Funds

Fund Statistics

Class A Shares
Cusip Number 042086405
NASDAQ Symbol ARGXX
Inception Date 3/3/1987
Dividends Frequency Daily

as of 3/5/2003
Net Asset Value as of 3/5/2003 $1.00

as of 12/31/2002
Dividends Paid ($ per share)
Past Quarter:
Current Year:
 
N/A
N/A
Total Net Assets (millions) $2,608.87

as of 12/31/2002
Avg. Weight Mat. 46 days

Investment Strategy

Short-term Investing With Money Market Funds

The Armada Government Money Market Fund invests primarily in obligations issued or guaranteed by the U.S. government, its agencies or instrumentalities. The Fund’s managers value quality, and invest primarily in debt obligations rated in the highest rating categories. The Fund’s dollar weighted average maturity is usually 90 days or less.

Portfolio Composition


Repurchase Agreements 38.30%  
U.S. Agency Bonds 26.20%  
FNMA 17.60%  
FHLMC 11.00%  
Corporate Bonds 5.70%  
STIF Treasury/Government 1.30%  


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.

Taxable Money Market Investment Management Team
Marilou Hitt  Director of Money Market Investment
Rebecca Berridge  Fixed Income Security Trader
Keith Erwin  Fixed Income Security Trader
Richard Stevenson  Fixed Income Security Trader


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

An investment in the money market funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the money market funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
The 7-day yield represents the income generated by an investment in the Fund, over a 7-day period, assuming a reinvestment in fund shares of all dividends during this period (i.e. Compounding). This income is then annualized. The advisor has waived fees during this period. Without such waivers the 7-day yield would have been lower.
The inception date for the Money Market Fund Class B shares is 1/5/98. The net assets for Class B total N/A. The Class B Money Market Fund is only available pursuant to an exchange for Class B shares of another fund in the Armada family. Class B shares have a maximum 5.00% contingent deferred sales charge. The inception date for the Money Market Fund Class H shares is 11/15/00. The net assets for Class H total N/A. Class H shares have a 1.00% maximum contingent deferred sales charge.

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.


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