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Fund
Overview |
Performance | Fund Management
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FUND
OVERVIEW
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as of May 31, 2001 (Retail Shares)
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Who Should
Invest
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- Investors who wish to earn investment income that is exempt
federal income tax.
- Investors who live in Michigan and wish to earn investment income
that is also exempt from state income tax.
- Investors who want to support Michigan municipalities by purchasing
their debt securities.
- Investors who seek to reduce volatility in your portfolio through
increased diversification.
- Investors who can keep their money invested for a minimum of
one to two years.
Top
Holdings, Performance, and Investment Objectives |
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Our
Investment Philosophy
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Michigan Municipal Bond Fund seeks to provide current income exempt
from federal income tax and, to the extent possible, from Michigan
personal income tax, as consistent with the conservation of capital.
The Fund normally invests at least 80% of its net assets in Michigan
municipal securities and debt obligations issued by the government
of Puerto Rico, the U.S. territories and possessions of Guam, the
U.S Virgin Islands, or such other governmental entities whose debt
obligations, either by law or treaty, generate interest income which
is exempt from federal and Michigan State income and intangible taxes,
although such income may be subject to the federal alternative minimum
tax when received by certain shareholders. The Fund expects to maintain
a dollar-weighted average portfolio maturity of three to ten years.
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Disclosure
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| 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.
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