Armada Small Cap Value Fund - Institutional

Fund Overview | Performance | Fund Management FUND OVERVIEW as of Feb 28, 2001 (Institutional Shares) Who Should Invest Investors who want to set a portion of their assets aside to seek long-range goals. Investors who understand the potential investment volatility of concentrating on small and medium-sized companies. Investors who are looking for long-term appreciation more than current income. Top Holdings, Performance, and Investment Objectives FUND MANAGEMENT Our Investment Philosophy The manager uses a highly disciplined value approach, seeking investment returns in smaller company stocks that may have been overlooked by the majority of investors. The manager's investment approach focuses on companies with low P/E, low price/book, and low price/cash flow valuation characteristics. This strategy has historically provided a degree of shelter during down markets, while allowing the Fund to participate when market prospects seem especially strong. 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