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4 - Star Overall Morningstar Rating™
Ratings for the Armada U.S. Government Income Fund Class B
were out of 1773 Fixed Income Funds ending 2/28/2001
ARMADA
U.S. GOVERNMENT
INCOME FUND
CLASS B
(11/12/1992
inception date)
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YTD
(2/28/2001)
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Annualized
Total Return
1 Year
(12/31/2000)
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Annualized
Total Return
5 Year
(12/31/2000)
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Annualized
Since
Inception
(12/31/2000)
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Overall
Morningstar
Rating*
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1.86%
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4.22%
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4.90%
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5.27%
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For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating metric each month by subtracting
the return on a 90-day U. S. Treasury Bill from the funds load-adjusted return for the same period, and then adjusting this excess
return for risk. The top 10% of funds in each broad asset class receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive
3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived
from a weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar
Rating metrics. The Armada U. S. Government Income Fund, Class B was rated against the following numbers of U.S.-domiciled
Fixed Income funds over the following time periods: 1773 funds in the last three years and 1311 funds in the last five years. With
respect to these Fixed Income funds, the Armada U.S. Government Income Fund, Class B received a Morningstar Rating of 3 stars
and 4 stars for the three- and five-year periods, respectively.
Ratings are for the share class indicated. Other classes may vary.
Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that
an investors shares on redemption may be worth more or less than their original cost. Mutual funds involve risk including
possible loss of principal. Performance figures quoted herein may be lower due to recent market volatility.
For more complete information about Armada Funds, including charges and expenses, obtain a prospectus from SEI Investments
Distribution Co. by calling 1-800-622-FUND (3863). Read the prospectus carefully before investing or sending money.
National City Investment Management Company serves as investment adviser for Armada Funds, for which it receives an
investment advisory fee. Armada Funds are distributed by SEI Investments Distribution Co., Oaks, PA 19456. SEI Investments
Distribution Co. is not affiliated with National City Investment Management Company and is not a bank.
YTD performance is at Net Asset Value and does not reflect a sales charge. A maximum deferred sales charge of 5.00% may be imposed
on the Armada U.S. Government Income Fund Class B. If maximum sales charges were included, actual performance would be lower.
Annualized total returns include maximum deferred sales charge of 5.00%.
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Not FDIC Insured No Bank
Guarantee May Lose Value
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