Overview Portfolio Strategy / Process Performance Team Fees investment strategy / process The Allegiant Tax Exempt Money Market Fund is managed through a team-driven, top-down process, with extensive credit research and portfolio analysis to mitigate risk.  The Fund strives to provide a high level of federally tax-exempt current interest income, consistent with liquidity and stability of principal, by investing in high-quality, short-term municipal debt securities in one of the two highest rating categories - or unrated securities determined to be of equivalent caliber. Investment Risk The dividend yield paid by the Fund will vary with changes in short-term interest rates. The value of debt securities with the Fund's portfolio may be affected by the ability of the issuer to make principal and interest payments. For some investors, income may be subject to state and/or local taxes, and certain investors may be subject to the Federal Alternative Minimum Tax (AMT).  As of September 30th, 2008, the Fund does not invest in securities subject to the Alternative Minimum Tax. However, the Fund's managers maintain the option to change the Fund's composition by investing the Fund's assets in such securities.  An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the funds. *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 (%) BOND 83.92 CASH EQUIVALENTS & OTHER 16.18 Asset Allocation weightings may not total 100% Sector Weightings (%)* Portfolio Management Patrick J. Azouri, CFA Portfolio Manager, Tax-exempt Cynthia D. Cole Senior Portfolio Manager, Fixed Income Keith L. Erwin Portfolio Manager, Municipal 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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