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Balanced Allocation Fund

Armada Balanced Allocation Fund is appropriate for investors with moderate risk tolerance, or those who prefer a hands-off approach to investing. The Fund offers a blended portfolio of stock, bond, and money market funds.  For historical H Share performance, click here.
MARKET WATCH†
4:50 pm ET, 12/21(15:36 to NY
S&PFutures1208.00-%
S&P 500324.66-869.99-72.82%
DJIA10759.43+97.830.92%
NASDAQ2150.91+23.061.08%
10-yr Note4.17-0.03-0.74%
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PRICE  ( as of 12/21): $10.04
Balanced Allocation Fund
Average Annual Total Returns
     as of 9/30/2004
  Inception
Date		 Current
Quarter End		 YTD 1 Year 3 Year 5 Year 10 Year Since
Inception
A Shares 07/31/98 -4.72% -4.54% 3.64% 2.65% 1.88% N/A 2.25%
B Shares 11/11/98 -5.26% -5.44% 3.01% 2.26% 1.76% N/A 2.36%
C Shares 04/20/00 -1.28% -1.47% 6.91% 3.49% 2.05% N/A 2.25%
I Shares 07/10/98 0.06% 0.32% 9.11% 4.53% 3.08% N/A 3.26%
60/40 Hybrid of S&P 500 and Lehman U.S. Aggregate Bond Index* 0.16% 2.25% 9.79% 4.78% 2.21% 9.71% N/A

Total returns reflect reinvestment of dividends, capital gains and deduction of applicable sales charges, operating expenses and fees. The inception dates for Class A, B and C shares are 7/31/98, 11/11/98 and 4/20/00 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 4.75%. 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.

Asset allocation cannot guarantee against a profit or prevent a loss. An investment in the Fund is subject to interest rate risk, which is the possibility that a Fund’s yield will decline due to falling interest rates. International investments are subject to special risks not ordinarily associated with domestic investments, including currency fluctuations, economic and political change and differing accounting standards that may adversely affect portfolio securities. Investments in small and mid capitalization companies present greater risk of loss than investments in large companies.

Balanced Allocation Fund Quarterly Fund Fact Sheet - A, B, C Shares,  I Shares 

Investment Objective

Armada Balanced Allocation Fund seeks to provide long-term capital appreciation and current income. The equity portion of the portfolio will be invested in common stocks with market capitalizations of $100 million or more.

Risk & Reward
Asset Class Comparison


Compare this Fund to other Armada Funds

Fund Statistics

Class A Shares
Cusip Number 042086298
NASDAQ Symbol ABLLX
Inception Date 7/31/1998
Dividends Frequency Quarterly

as of 12/21/2004
Net Asset Value as of 12/21/2004 $10.04
Net Asset Value past 12 months
High: $10.06
Low: $9.08
Public Offering Price $10.54

as of 9/30/2004
Dividends Paid ($ per share)
Past Quarter:
Current Year:
 
$0.0296
$0.0482
Total Net Assets (millions) $158.03

Top 10 Security Holdings+

as of 11/30/2004  (% of total net assets)
Subject to Change.

GOLD BULLION SECURITIES 4.51%
US TREASURY NOTES 3.25% 8/15/08 1.94%
US TREASURY NOTES 3.5% 11/15/06 1.82%
FNMA 5% TBA 12/01/34 1.68%
GENERAL ELECTRIC 1.64%
FNMA TBA 5.5% 12/01/34 1.54%
FNMA TBA DEC 6% 30YR 1.53%
CITIGROUP INC 1.47%
MICROSOFT CORP 1.46%
AMERICAN INTERNATIONAL GROUP 1.14%

Investment Strategy

Armada Balanced Allocation Fund's management team employs a top-down approach to asset allocation. They employ proprietary models to determine broad market and sector allocations, then draw on the expertise of our highly specialized investment teams to find the best investment opportunities available in each marketplace. In general, 45% to 75% of the Fund's assets will be invested in equity securities, 25% to 55% will be invested in investment grade fixed-income investments, and up to 30% may be invested in cash equivalents. The fund may also invest up to 20% of its assets internationally. The benchmark for the Balanced Allocation Fund is the 60/40 Hybrid of S&P 500 and Lehman U.S. Aggregate Bond Index.*

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.


Portfolio Composition+


EQUITY 66.69%  
BOND 25.37%  
MONEY MARKET 7.94%  


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.

Rita Ontko  Quantitative 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 60/40 Hybrid of S&P 500 and Lehman U.S. Aggregate Bond Index is a blend of 60% S&P 500 Composite Index and 40% Lehman U.S. Aggregate Bond Index, as calculated by the Advisor, and 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.

† 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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