Overview Portfolio Strategy / Process Performance Team Fees investment strategy / process The Allegiant S&P 500 Index® Fund seeks to provide investment results that, before fund expenses, approximate the aggregate price and dividend performance of the securities listed in the S&P 500 Index by investing in the securities comprising the S&P 500 Index.  The Fund’s managers believe that employing certain active management strategies for a percentage of the Fund’s assets, if successful, will result in net returns after expenses that may more closely approximate the returns of the S&P 500 Index.  The Fund’s managers may invest in S&P 500 futures in addition to or in place of S&P 500 stocks to attempt to equal the performance of the S&P 500 Index when futures are less expensive than actual stocks.  The Fund’s managers may also invest in other S&P 500 derivatives with economic characteristics similar to common stocks in the S&P 500 Index. Investment Risk Derivatives Risk. Derivative instruments include options, futures and options on futures. A small investment in derivatives could have a potentially large impact on the Fund’s performance. The use of derivatives involves risks different from the risks associated with investing directly in the underlying assets. Derivatives can be volatile, illiquid and difficult to value, and an imperfect correlation may exist between changes in the value of a derivative held by the Fund and the Fund’s other investments. *Sector weightings and top ten holdings are subject to change, for illustrative purposes only and are not a permanent reflection of the fund.

Asset Allocation (%) EQUITY 98.16 CASH EQUIVALENTS & OTHER 1.83 Asset Allocation weightings may not total 100% Sector Weightings (%)* Information Technology 14.82 Energy 14.02 Healthcare 13.76 Financials 13.15 Consumer Staples 12.91 Industrials 10.80 Consumer Discretionary 7.91 Utilities 4.08 Telecommunication Services 3.74 Materials 2.97 Cash & Cash Equivalents 1.84 Portfolio Management Hitesh C. Patel, Ph.D. Managing Director, Structured Equity Rita A. Ontko, CFA Analyst, Structured Equity Chen Chen, Ph.D. Senior Analyst, Structured Equity Downloads Fund Factsheet Prospectus

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NOT FDIC INSURED  |  NO BANK GUARANTEE  |  MAY LOSE VALUE

You should consider the investment objectives, risks, charges and expenses of the Allegiant Funds carefully before investing. A prospectus may be downloaded and viewed with this and other information about the Funds or may be obtained by contacting an investment professional or by calling 1-800-622-FUND (3863). Please read it carefully before you invest or send money.

Allegiant Asset Management Company serves as investment adviser to Allegiant Funds for which it receives an investment advisory fee. Shares of Allegiant Funds are distributed by Professional Funds Distributor, LLC (PFD), 760 Moore Road, King of Prussia, PA 19406. PFD is not affiliated with Allegiant Asset Management Company and is not a bank. Allegiant is a registered trademark of The PNC Financial Services Group, Inc.

©2009 The PNC Financial Services Group, Inc. All rights reserved.

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