Armada Funds Privacy Policy Questions & Answers

Q: Does the Armada Funds privacy policy apply to all Armada shareholders?
A: The privacy policy applies only to individual shareholders who purchase their shares directly from Armada Funds. Shareholders who have purchased shares of Armada Funds through a financial intermediary (i.e. NatCity Investments, National City Bank or an outside broker dealer) are considered customers of that organization and fall under that respective privacy policy.

Q: When does Armada Funds share nonpublic information about its customers with third parties?
A: We limit the ways that we share information to the purposes permitted by the new law. These permissible information sharing exceptions fall into three categories:

• Servicing and Joint Marketing

  We share information with companies that perform services on our behalf, like check printers. We share information with companies that help us to market our products. We have agreements with National City Bank and NatCity Investments, and share information with them in order to make a wider variety of financial products and services available to our customers.

• Processing and Servicing Transactions

  Information is shared as necessary to service and process financial products and services that are requested by customers, such as wire transfers. Information is also shared in connection with maintaining and servicing customer accounts, such as effecting share transactions, account maintenance, statement preparation and complaint resolution.

• Other Lawful or Required Purposes

  This category includes a variety of permissible sharing situations, such as when shareholders request or consent to having information shared, or when we share information with auditors, accountants, regulators, or other situations where sharing information is permitted or required by law.

Q: What is third party opt-out and why are some financial institutions offering this opt-out to their customers when Armada Funds does not offer it?
A: Financial institutions that want to share information with third parties outside of the permissible exceptions must provide their customers with a notice that explains their information-sharing practices and provide an opportunity for their customers to opt-out of having their nonpublic personal information shared. Many Armada Funds shareholders who do business with other financial institutions receive annual notices from those institutions that include a third party information sharing opt-out provision. Armada Funds does not provide its shareholders with a third party information sharing opt-out choice because we already restrict our information sharing practices in line with the regulation. In other words, our sharing practices are more conservative than those of institutions that must provide their customers with third party opt-out.