Armada Equity Income Fund - Retail

Fund Overview | Performance | Fund Management FUND OVERVIEW as of Feb 28, 2001 (Retail Shares) Who Should Invest Investors who believe in the soundness of value investing. Investors who seek a total return on their investment comprised of both dividends and potential price appreciation. Investors who want to set a portion of their assets aside to seek long-range goals. Top Holdings, Performance, and Investment Objectives FUND MANAGEMENT Our Investment Philosophy The investment strategy is to identify stocks offering both good value and good news. The Armada Equity Income Fund invests in statistically cheap stocks that appear undervauled and poised for an improvement in relative performance. By statistically cheap, we mean stocks with premium yields, low price/book ratios, etc. By undervalued, we refer to stocks that do not deserve to trade at steep discounts to the market based on our assessment of their future prospects. To determine whether a stock is poised for an improvement or likely to languish, we focus on changes in investor sentiment. As measured by changes in earnings estimates, the Fund buys when investor sentiment is improving and sells when investor sentiment is deteriorating. Disclosure NOT FDIC INSURED. NO BANK GUARANTEE. MAY LOSE VALUE. This information must be preceded or accompanied by a current prospectus for the Armada Funds. Read it carefully before you invest or send money. National City Investment Management Company serves as investment advisor and custodian for the Armada Funds. The Armada Funds are distributed by SEI Investments Distribution Co. which is not affiliated with National City Investment Management Company. Legal Information & Copyright Home | Library | Tools | News | Site Map | Search Equity | Balanced Allocation | Fixed Income | Tax-Exempt | Money Market