Class "R" shares are sometimes called Retirement Shares because they were designed for retirement plan investors. "R" shares have a low back-end sales charge. If you sell "R" shares within 18 months of purchase, a .75% contingent deferred sales charge or CDSC is assessed. The CDSC is calculated on the lowest of either: the net asset value (NAV) of the shares at the time of purchase, or the NAV of the shares next calculated after the Fund receives the request to sell.

Class "R" shares have a lower 12b-1 fee than other back-end loaded share types, and do not convert into "A" shares at any time.

"R" shares may be appropriate for investors in qualified retirement plans, such as employer sponsored 401(k) plans or individual retirement accounts (IRAs). They also may be appropriate for individuals who wish to rollover savings from a qualified retirement plan into an IRA.

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.

Past performance is no guarantee of future results. Mutual funds involve risk, including possible loss or principal. Shares of Armada Funds are not insured by the FDIC, are not deposits or obligations of, or guaranteed by the bank, and involve investment risk.

National City Investment Management Company (IMC) serves as investment adviser for which it receives an investment advisory fee. Armada Funds are distributed by Professional Funds Distributor, LLC (PFD). PFD is not affiliated with IMC and is not a bank.