Since March 31, 1999 the Industry Leaders Fund has on average generated a positive outperformance to the S&P500.
	During winning Bull Quarters the fund has generated an average excess return of 141 basis points over the S&P500.
	During winning Bear Quarters the fund has generated an average excess return of 286 basis points over the S&P500.

ILFIX had a positive average quarterly outperformance during both Bull and Bear Quarters
		Quarters	Percent	ILFIX Average Outperformance
	Average Bull Quarters (S&P 500 > 0.00%)	26	57.8%	+0.04%
	Average Bear Quarters (S&P 500 < 0.00%)	19	42.2%	+1.00%
ILFIX beat the S&P 500 in 57.9% of the down quarters by an average of 2.86%
	ILFIX beats S&P 500	Quarters	Average Alpha	Winning %**
	Bull Quarters (S&P 500 > 0.00%)	13	+1.41%	50.0%
	Bear Quarters (S&P 500 < 0.00%)	11	+2.86%	57.9%

ILFIX expense ratio is 0.83%.
*Performance is illustrated net of fees.
**Winning percent is defined as the percent of quarters where the Fund had outperformed the S&P 500.

Past performance is no guarantee of future results and investment results and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Total return includes reinvestment of dividends and capital gains. Please read Prospectus and speak to an investment adviser before considering an investment. Equity mutual funds are risky securities, and are only suitable for investors who understand the risks inherent in equity mutual funds.