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Armada Funds Morningstar Ratings™
AS OF OCTOBER 31, 2000
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Overall
Morningstar Rating*
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| Armada
Large Cap Ultra Fund, Class A |
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The
Armada Large Cap Ultra Fund, Class A earned four stars out of 3948
Domestic Equity Funds for the three year period ending 10/31/2000. |
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| Armada
Large Cap Ultra Fund, Class B |
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The
Armada Large Cap Ultra Fund, Class B earned four stars out of 3948
Domestic Equity Funds for the three year period ending 10/31/2000. |
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| Armada
Equity Growth Fund, Class A |
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The
Armada Equity Growth Fund Class A earned three stars out of 3948 and
four stars out of 2458 Domestic Equity Funds for the three and five
year periods respectively ending 10/31/2000. |
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| Armada
Limited Maturity Bond Fund, Class A |
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The
Armada Limited Maturity Bond Fund, Class A earned four stars out of
1751 and 1313 Fixed Income Funds for the three and five year periods
respectively ending 10/31/2000. |
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| Armada
U.S. Government Income Fund, Class A |
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The
Armada U.S. Government Income Fund, Class A earned four stars out
of 1751 and 1313 Fixed Income Funds for the three and five year periods
respectively ending 10/31/2000. |
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| Armada
U.S. Government Income Fund, Class B |
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The
Armada U.S. Government Income Fund, Class B earned three stars out
of 1751 and four stars out of 1313 Fixed Income Funds for the three
and five year periods respectively ending 10/31/2000. |
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| Armada
Ohio Tax-Exempt Bond Fund, Class A |
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The
Armada Ohio Tax-Exempt Bond Fund Class A earned four stars out of
1719 and 1473 Municipal Bond Funds for the three and five year periods
respectively ending 10/31/2000. |
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| Armada
Pennsylvania Municipal Bond Fund, Class A |
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The
Armada Pennsylvania Municipal Bond Fund Class A earned four stars
out of 1719 Municipal Bond Funds for the three year period ending
10/31/2000. |
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*Morningstar
proprietary ratings reflect risk-adjusted performance through 10/31/2000.
The ratings are subject to change every month. Ratings are calculated
from the funds three, five, and ten year average annual returns
if applicable (with fee adjustments) in excess of the 90-day Treasury
bill returns and a risk factor that reflects fund performance below
90-day Treasury bill returns. The top 10% of the funds in a rating
category receive five stars, the next 22.5% receive four stars,
the next 35% receive three stars, the next 22.5% receive two stars
and the last 10% receive one star.
Ratings are for the share class indicated. Other classes may vary.
The inception dates for the funds listed above are as follows: Large
Cap Ultra Fund Class A, 2/1/1996; Large Cap Ultra Class B, 2/1/1996;
Equity Growth Class A, 4/15/1991; Limited Maturity Bond Fund Class
A, 9/9/1994; U.S. Government Income Fund Class A, 11/12/1992; U.S.
Government Income Fund Class B, 2/4/1994; Ohio Tax Exempt Bond Fund
Class A, 4/15/1991; Pennsylvania Municipal Bond Fund Class A, 9/11/1996.
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 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.
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Not FDIC Insured No Bank
Guarantee May Lose Value
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