Armada International Equity Fund - Institutional

Fund Overview | Performance | Fund Management FUND OVERVIEW as of Feb 28, 2001 (Institutional Shares) Who Should Invest Investors who are seeking long-term investment growth and are comfortable with the volatility of international investing. Investors who own domestic stocks and want to diversify globally. Investors who already have a portion of their stock portfolio overseas in a more specialized fund but want to further diversify. Top Holdings, Performance, and Investment Objectives FUND MANAGEMENT Our Investment Philosophy The investment strategy is to use country allocation, stock screens and risk control to pinpoint stocks of solid, promising companies in attractive equity markets. In assessing a country's investment merits, we analyze a country's unit labor costs and valuation in comparison to other countries. We monitor government policy and the behavior of markets closely. Our individual security selection process also relies on analysis of competitive position, and valuation based on enterprise value (the value of its stock, plus debt) divided by its operating cash flow to pick promising stock. 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