portfolio

The Allegiant International Equity Fund is for investors who recognize the value of diversifying their portfolios internationally. The Allegiant International Equity Fund's investment objective is to provide capital appreciation by investing in common stocks of issuers located in at least three foreign countries.

Top 10 Holdings (%)*

as of 11/30/2008

*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 90.01
CASH EQUIVALENTS & OTHER 10.01
Asset Allocation weightings may not total 100%
Country Weightings (%)
Japan 23.29
Other Countries 21.69
United Kingdom 13.35
Switzerland 9.27
Cash & Cash Equivalents 7.44
Germany 6.61
Australia 3.96
Ireland 3.59
Finland 3.24
South Korea 2.68
Spain 2.48
France 2.40
Portfolio Management
Martin C. Schulz, J.D.
Managing Director, International Equity
Bernard R. Horn Jr.
President and Chief Investment Officer, Polaris Capital Management
Sumanta Biswas, CFA
Vice President and Assistant Portfolio Manager, Polaris Capital Management
Richard V. Howe
Account Manager and Analyst, Polaris Capital Management, LLC
Bin Xiao
Analyst, Polaris Capital Management, LLC
Andry Sutanto
Analyst, Polaris Capital Management, LLC