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Large Cap Growth Fund

Armada Large Cap Growth Fund is for investors who wish to grow their principal and can tolerate some fluctuation in the value of their investments. The Fund invests in large companies that are global leaders in their industries, and have above average growth potential resulting from competitive advantages, rapidly growing industries, or a new product cycle.  For historical H Share performance, click here.
MARKET WATCH†
4:50 pm ET, 11/12(63:37 to NY
S&P 5001184.17+10.690.91%
DJIA10539.01+69.170.66%
NASDAQ2085.34+24.071.17%
10-yr Note4.20-0.05-1.27%
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PRICE  ( as of 11/12): $18.72
Large Cap Growth Fund
Average Annual Total Returns
  as of 9/30/2004
  Inception
Date		 SEC
30-Day
Yield		 1-Day
Yield		 Current
Quarter End		 YTD 1YR 3YR 5YR 10YR Since
Inception
A Shares 04/15/91 N/A 0.00% -10.32% -10.72% -2.77% -4.94% -6.54% 6.95% 7.67%
B Shares 01/06/98 N/A 0.00% -10.00% -10.75% -2.86% -5.08% -6.47% 6.84% 7.36%
C Shares 01/27/00 N/A 0.00% -6.26% -6.98% 1.11% -3.78% -6.11% 6.82% 7.35%
I Shares 12/20/89 N/A 0.00% -5.05% -5.40% 3.12% -2.86% -5.23% 7.83% 8.36%
R Shares 08/01/03 N/A 0.00% -5.84% -6.44% 1.85% -3.36% -5.73% 7.25% 7.78%
Russell 1000 Growth Index* N/A N/A -5.23% -2.63% 7.51% 1.61% -6.78% 8.71% N/A

Total returns reflect reinvestment of dividends, capital gains and deduction of applicable sales charges, operating expenses and fees. Inception dates for Class A, B, C and R shares are 4/15/91, 1/06/98, 1/27/00 and 8/1/03 respectively. All performance shown for each share class prior to each respective inception date is based on the performance of Class I shares, adjusted to reflect each share class’s fees, expenses and maximum sales charges.

The maximum sales charge for class A shares is 5.50%. Class B shares have a maximum contingent deferred sales charge of 5.00%. 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. Class R shares do not have a front-end sales charge, but do have a 0.75% charge on the redemption of shares that are held less than 18 months.

Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here. Performance data current to the most recent month-end is available at www.armadafunds.com.

Large Cap Growth Fund Quarterly Fund Fact Sheet - A, B, C Shares,  I Shares,  R Shares

Investment Objective

Armada Large Cap Growth Fund seeks capital appreciation by investing in a diversified portfolio of large, well-known companies with market capitalizations of $3 billion or more.

Risk & Reward
Asset Class Comparison


Compare this Fund to other Armada Funds

Fund Statistics

Class A Shares
Cusip Number 042086876
NASDAQ Symbol AEQRX
Inception Date 4/15/1991
Dividends Frequency Annually

as of 11/12/2004
Net Asset Value as of 11/12/2004 $18.72
Net Asset Value past 12 months
High: $19.61
Low: $16.93
Public Offering Price $19.81

as of 9/30/2004
Dividends Paid ($ per share)
Past Quarter:
Current Year:
 
$0.0000
$0.0000
Total Net Assets (millions) $663.99

as of 9/30/2004
SEC 30 Day Yield
Current Income Distribution Yield 0.00%
Avg. Weight Mat. N/A Years
Duration N/A

Sector Diversification+


TECHNOLOGY 29.31%  
HEALTHCARE 23.06%  
CONSUMER NON-CYCLICAL 13.01%  
COMMERCIAL SERVICES 10.83%  
FINANCIAL SERVICES 8.38%  
CONSUMER CYCLICALS 5.49%  
BASIC MATERIALS 3.67%  
INDUSTRIALS 3.09%  
ENERGY 1.59%  
OTHER 1.57%  


Investment Strategy

The management team of the Armada Large Cap Growth Fund believes that the best approach to the large cap equity market is to employ a philosophy combining disciplined portfolio construction with flexible security selection. The Large Cap Growth Fund is a focused portfolio, which is invested sector neutral to the Russell 1000 Growth Index,* thus giving investors increased exposure to the growth areas of the equity market. To identify stocks for capital growth, the team looks for companies that have historically been able to grow earnings, revenue, return on equity, and return on capital and have maintained leadership within their industry.

Growth of a $10,000 Investment


Provides a graphical view of this Fund’s growth of $10,000 with an adjustment for sales charges and expenses, where applicable from the Fund’s inception. The graph illustrates growth of principal including reinvestment of dividends and capital gains.


Investment Quality▲

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.

Christopher A. Wiles, CFA  Managing Senior Director for Core & Growth Equity
Lawrence E. Eakin, Jr.  Senior Director of Large Cap Growth Equity
Michael J. Halloran, CFA  Large Cap Growth Equity Analyst
Holly Harrison  Product Specialist
Joe Famoso  Analyst


Armada Fund Family
Treasury Money Market Fund Treasury Plus Money Market Fund Tax Exempt Money Market Fund PA Tax Exempt Money Market Fund OH Municipal Money Market Fund Government Money Market Fund Money Market Fund Mid Cap Growth Fund Small Cap Growth Fund Small Cap Core Fund Large Cap Growth Fund Small Cap Value Fund S&P 500 Index Fund Large Cap Core Equity Fund Mid Cap Value Fund International Equity Fund Large Cap Value Fund Aggressive Allocation Fund Balanced Allocation Fund Conservative Allocation Fund Total Return Advantage Fund Bond Fund Government Mortgage Fund Intermediate Bond Fund Ultra Short Bond Fund Limited Maturity Bond Fund Intermediate Tax Exempt Bond Fund PA Intermediate Municipal Bond Fund OH Intermediate Tax Exempt Bond Fund MI Intermediate Municipal Bond Fund

*The Russell 1000 Growth Index, an unmanaged index of 1,000 largest U.S companies with higher price-to-book ratios and higher forecasted growth values, is not available for direct investment. Unlike a mutual fund, the performance of an index assumes no taxes, transaction costs, management fees or other expenses.

+The composition of the portfolio is as of 10/31/2004 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 equity securities. Economic sector weightings may not total 100%.

† 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.
 

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.


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