portfolio

The Allegiant Multi-Factor Small Cap Value Fund is for aggressive investors who are willing to accept greater risk in the pursuit of higher investment returns. The Fund invests in small companies comparable to those found in the Russell 2000 Value Index. The management team seeks companies that are undervalued relative to the market and poised to outperform.

Top 10 Holdings (%)*

as of 9/30/2008

*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 99.58
CASH EQUIVALENTS & OTHER 0.45
Asset Allocation weightings may not total 100%
Sector Weightings (%)*
Financials 36.67
Industrials 14.21
Information Technology 13.16
Healthcare 10.22
Consumer Discretionary 7.48
Consumer Staples 6.24
Utilities 5.39
Energy 3.00
Materials 2.53
Telecommunication Services 1.10
Portfolio Management
Hitesh C. Patel, Ph.D.
Managing Director, Structured Equity
Paul Kleinaitis, CFA
Senior Portfolio Manager, Structured Equity
Robin C. Roquitte, CFA
Senior Portfolio Manager, Structured Equity