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What are A Shares and B Shares (Retail shares), and how do they differ? Both A and B shares are sold on a continuous basis by the Trust's sponsor and Professional Funds Distributor, LLC, and are also sold to the public primarily through financial institutions such as banks, brokers and dealers. Investors may purchase A or B shares directly or through a financial institution. A shares of the Funds are sold subject to a front-end sales charge. B shares of the Funds are sold subject to a back-end sales charge. This back-end sales charge declines over time and is known as a "contingent deferred sales charge". Before choosing between A and B shares of the Funds, an investor should read the prospectus carefully to determine which would be best based upon individual investing objectives, time horizon and risk tolerance. If you have questions about your individual situation, contact your plan administrator or a personal adviser, such as an accountant, attorney or other tax professional.

NOT FDIC INSURED · NO BANK GUARANTEE · MAY LOSE VALUE

You should consider the investment objectives, risks, charges and expenses of the Armada Funds carefully before investing. A prospectus may be downloaded and viewed with this and other information about the Funds or may be obtained by contacting an investment professional or by calling 1-800-622-FUND (3863.) Please read it carefully before you invest or send money.

National City Investment Management Company (IMC) serves as investment adviser to Armada Funds for which it receives an investment advisory fee. Shares of 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.