SmartGrowth Lipper Optimal Moderate Index Fund

Fund Overview | Fund Performance | Fund Management

Fund Overview

as of August 31, 2010

Fund Objective and Investment Philosophy

The Fund's investment objective is to track the performance of the Lipper Optimal Moderate Index, a target risk benchmark consisting of a select group of ETFs, rebalanced quarterly, designed to maximize returns given a moderate degree of volatility. Other than short-term investments in cash and cash equivalents, the Fund will limit its investments to ETFs included in the Moderate Index. As a result, the Fund operates as a "fund of ETFs".

Investor Profile

Investors looking for diversified growth within a manageable level of risk.

Trading Symbol

LPMAX

Inception Date

June 1, 2007

Composition as of August 31, 2010

Mutual Fund	77.6%
Unknown	21.8%
Cash Equivalents	0.6%

Top 10 Industries as of August 31, 2010

Mutual Funds	99.4%
STIFs/Money Markets	0.6%

Top Holdings as of August 31, 2010

Percentage of
Portfolio Assets
(Based on Market Value)

ISHARES LEHMAN 20+YRS TRS	20.9%
ISHARES LEHMAN 7-10YR TRS	13.0%
POWERSHARES DYN MEDIA	10.5%
ISHARES DJ US REALESTATE	9.5%
ULTRA INDUSTRIALS PROSHAR	8.5%
SPDR BARCLAYS CAP AGGR	3.9%
POWERSHARES FIN PFD PORT	3.3%
ISHARES S&P S/T NATION	1.6%
SPDR BARCLAYS 1-3M TBILL	1.4%
ISHARES LEHMAN SHORT TRS	1.4%

Holdings subject to change.

There is no guarantee as of the date of this material that the securities mentioned remain in or out of the portfolio.

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