NorthCoast Asset Management

Overview

Update 9/2/08
On 9/2/08, the Board of Directors appointed NorthCoast Asset Management as the new investment advisor to the fund. NorthCoast is thrilled to have received the appointment and looks forward to serving shareholders and offering a disciplined long-term growth investment. NorthCoast has a long history of management using the CAN SLIM^® System via our private clients business, and we are excited to bring that expertise to the shareholders of CANGX. If you have any questions, please feel free to call 800-274-5448 anytime for more information.

Objective
The Fund seeks long-term capital appreciation and will invest primarily in common stocks of all sizes exhibiting accelerated earnings growth, market leadership, and other characteristics consistent with the CAN SLIM^® Select List.

Strategy
The fund will attempt to replicate the CAN SLIM^®Select list. The list published by Investor's Business Daily^® on their website, www.investors.com, can be as much as 100% invested in rising markets and as little as 20% invested in declining markets. In rising markets the list will comprise near 100 stocks with each stock representing approximately 1% of fund assets. In declining markets, the list will shrink as stocks are sold to reduce market exposure.

Philosophy
Published by Investor's Business Daily^®, the CAN SLIM^®Select List represents those companies that, according to the CAN SLIM^®Select List, possess the seven most common characteristics that all great performing stocks have before they make their biggest gains.

CAN SLIM^®represents these characteristics:

C	Current earnings per share should be up and in many cases accelerating in recent quarters. Quarterly sales should also be up or accelerating over prior quarters
A	Annual earnings should be up in each of the last three years.
N	A company should have a new product or service that's fueling earnings growth. The stock should be emerging from a proper chart pattern and about to make a new high in price.
S	Supply and demand. Shares outstanding can be large or small, but trading volume should be big as the stock price increases.
L	Leader or laggard? Buy the leading stock in a leading industry.
I	Institutional sponsorship should be increasing. Invest in stocks showing increasing ownership by mutual funds in recent quarters.
M	The market indexes should be in a confirmed up trend since three out of four stocks follow the market's overall trend. Declining market indices under certain conditions may warrant increasing cash position, or investments in cash.

Disclosure
Please refer to the prospectus [download pdf file] for important information about the investment company including investment objectives, risks, charges and expenses. The prospectus may be obtained by clicking on the link above or, for hard copy, by calling 800-274-5448.

The Fund may invest in foreign securities which will involve greater volatility and political, economic and currency risks and differences in accounting methods. The Fund invests in small-and medium-capitalization companies, which involve additional risks such as limited liquidity and great price volatility than large-capitalization companies. The Fund will experience portfolio turnover, which may result in adverse tax consequences to the Fund’s shareholders. Mutual fund investing involves risk. Principal loss is possible.

“CAN SLIM^®,” “Investor's Business Daily^®,” and “IBD^®” are service marks and trademarks belonging to Data Analysis, Inc., and are used under license. The “CAN SLIM^®Select” mark, along with the right to use the “CAN SLIM^®Select List” has been licensed to the Adviser by IBD for use by the Fund under certain circumstances. The Fund is not sponsored, endorsed or sold by IBD.

The Funds are offered only to United States residents with a valid social security number, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of the Funds in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

Earnings per share (EPS) is calculated by taking the total earnings divided by the number of shares outstanding.

The CAN SLIM^® Select Growth Fund is distributed by Quasar Distributors, LLC.

Each year the SEC requires our privacy policy be provided to all clients. As a reminder, we collect nonpublic personal information about you from the following sources: (i) information we receive from you on applications and other forms; and (ii) information about your transactions with us, our affiliates, or others. We do not disclose any nonpublic personal information about our customers or former customers to anyone, except as permitted by law. We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your nonpublic personal information. Should you have any questions regarding our procedures or handling of your personal information, please call us anytime.