·        Professional management. When you invest in a mutual fund you are hiring full-time professional managers to buy, sell and monitor your investments. Most mutual funds also employ research analysts who follow companies closely and interview corporate executives, suppliers and customers of companies in order to identify the best possible investments.

·        Diversification. In a mutual fund, your money is invested in dozens or even hundreds of securities, a costly and cumbersome process if you do it on your own. Owning a diverse mix of securities doesn't eliminate risk, but can reduce it, as the ups and downs of the individual securities often offset each other.

·        Quick access to your money. In most cases, fund shareholders can sell some or all of their shares at any time and receive the current market value of their investment.

·       A wide range of convenient services. You can make your financial life easier by using the special services offered by most mutual funds: automatic investing and withdrawal, reinvestment of fund distributions and electronic transfer of funds.

Mutual Fund Pricing Options
Mutual funds offer a flexible selection of pricing options: Class A, Class B, and Class C shares.

·        Class A shares are sold with an up-front sales charge, which declines as the investment amount increases. For many shareholders—especially those with significant account balances—this remains the most cost-effective way to own mutual fund shares.

·        Class B shares have no up-front sales charge but have higher expenses than Class A shares. For example, you may pay a fee if you sell shares within six years of purchase. These shares may convert to Class A shares after eight years, with lower expenses and no redemption fee. 

·        Class C shares may not have an up-front sales charge, but investors may be subject to a 1% contingent deferred sales charge on shares sold within 12 months of purchase. In addition, investors pay higher expenses than on Class A shares.

Speak with your Registered Representative to see which type of shares would be right for you and your investment goals. Please read the prospectus before you make a purchase.

Money Market Funds
In response to severe market pressures, in September 2008, the U.S. Treasury established this program which guarantees investors will receive $1.00 for each money market fund share held in a specific, participating fund as of the close of business September 19, 2008.  The program currently has an expiration date of September 19, 2009.  If participating fund’s NAV falls below $0.995/per share a guaranteed payment should be made to investors through their fund within approximately 30 days.  This program only provides a guarantee based on the number of shares held in a specific, participating fund as of the close of business September 19, 2008.

One common mistake that investors find themselves in is straying from conservative investments in the search for incremental yield, “yield chasing”.  There are many funds that look similar to money markets but have key differences and we recommend that investors carefully evaluate their options before reaching for extra yield.  Investors should first evaluate time horizon, return objectives and risk tolerance.  We want to reiterate that investors who deem themselves to be conservative, risk adverse and/or with a short time horizon should consider investing in true money market funds.  Prospectuses containing this and other important information are available from you financial representative.  Please read the prospectus carefully before investing or spending money.

Types Of Mutual Funds Available
Typically, mutual funds are organized into four investment categories: growth funds, growth and income funds, income funds, tax-free funds, and international/global funds. Each has its own degree of risk. Your financial advisor can help you decide which funds are most suitable for your long-term investment goals.

GROWTH FUNDS- Designed to maximize the value of your investment over time, these funds invest in stocks of companies with a strong potential for above-average growth.
GROWTH AND INCOME FUNDS- Designed to provide growth and income in varying proportions, these funds invest in stocks, bonds, or a combination of both.
INCOME FUNDS - Designed to provide a regular stream of income, these funds invest in interest-paying bonds, dividend-paying stocks, or both.
TAX-FREE FUNDS - Designed to provide regular income generally exempt from federal and certain state and local income taxes, these funds invest in municipal bonds.
INTERNATIONAL/GLOBAL FUNDS - Designed to provide capital appreciation by investing in markets located overseas (international) or those located in any region of the world (global), these funds offer investment strategies that include growth, value or a combination of both.