Overview Portfolio Strategy / Process Performance Team Fees investment strategy / process The Allegiant Mid Cap Value Fund seeks long-term capital appreciation by investing in value-oriented common stocks of U.S. mid cap companies with market caps matching the benchmark^.  The Fund’s managers invest in companies trading at a discount to intrinsic value, utilizing a discounted cash flow methodology.  Key drivers include revenue growth, profit margin and asset turnover trends.  Securities are generally sold upon market realization of a company’s intrinsic value. ^ The market cap range of the benchmark frequently changes.  As a result, the capitalization of companies in which the Fund invests may also change.   Quantitative Ranking Model Analyze Key Drivers of Value Estimate Intrinsic Value Construct Portfolio Sell Discipline   Narrows universe Targets companies trading at a discount   Revenue growth Margins Asset turns Competitive advantage period Discount rate   Proprietary estimates of key drivers Inputs into DCF model Sustainable cash generation 25% discount Increasing intrinsic value Security and sector risk constraints Fully invested Typical 2-3 year holding period Intrinsic value realized Deterioration in fundamentals Better opportunity Risk constraints Investment Risk Investments in mid-sized companies present greater risk of loss than investments in large companies. *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 96.85 CASH EQUIVALENTS & OTHER 3.13 Asset Allocation weightings may not total 100% Sector Weightings (%)* Financials 24.22 Utilities 13.91 Materials 11.18 Information Technology 10.58 Consumer Staples 9.05 Consumer Discretionary 9.04 Industrials 7.33 Energy 6.15 Healthcare 4.05 Cash & Cash Equivalents 3.26 Telecommunications 1.23 Portfolio Management Michael E. Santelli, CFA, CPA Managing Director, Mid Cap Value & Focused Equity Alex L. Vallecillo, CFA Senior Portfolio Manager, Mid Cap Value & Focused Equity Downloads Fund Factsheet Product Brochure 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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