Intermediate Bond Fund 1,2,3
Average Annual Total Returns
as of 9/30/2004
QUARTERLY
MONTHLY
Inception
SEC
1-Day
Current
YTD
1YR
3YR
5YR
10YR
Since
A Shares 04/15/91
2.57%
3.20%
-2.01%
-2.35%
-2.23%
3.34%
4.95%
5.57%
6.13%
B Shares 01/06/98
2.00%
2.50%
-2.61%
-3.31%
-3.27%
2.98%
4.86%
5.34%
5.75%
C Shares 05/30/00
2.00%
2.50%
1.38%
0.69%
0.70%
4.25%
5.23%
5.38%
5.78%
I Shares 12/20/89
2.94%
3.45%
2.54%
2.32%
2.57%
5.21%
6.17%
6.35%
6.77%
Lehman Intermediate U.S. Government/Credit Bond Index*
N/A N/A 2.71%
2.59%
2.65%
5.56%
7.13%
7.10%
N/A
Total returns reflect reinvestment of dividends, capital gains and deduction of applicable sales charges, operating expenses and fees. Returns also reflect a voluntary fee waiver of .15%. Without such a fee waiver, performance of the Fund would have been lower. Inception dates for Class A, B and C shares are 4/15/91, 1/06/98 and 5/30/00 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 4.50%. 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.
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. The value of debt securities may be affected by the ability of issuers to make principal and interest payments. Although U.S. government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. 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.
*The Lehman Intermediate U.S. Government/Credit Bond Index, an unmanaged index representative of intermediate term bonds, 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.
▲ Quality ratings such as AAA, AA, A, and BBB refer to credit risk of the portfolio securities and not the shares of the Fund.
+ Composition of the portfolio is as of 11/30/2004 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 investment grade bonds.
†
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.
