SmartGrowth Lipper Optimal Conservative 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 Conservative Index, a target risk benchmark consisting of a select group of ETFs, rebalanced quarterly, designed to maximize returns given a low degree of volatility. Other than short-term investments in cash and cash equivalents, the Fund will limit its investments to ETFs included in the Conservative 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

LPCAX

Inception Date

June 1, 2007

Composition as of August 31, 2010

Mutual Fund	84.2%
Unknown	15.3%
Cash Equivalents	0.5%

Top 10 Industries as of August 31, 2010

Mutual Funds	99.5%
STIFs/Money Markets	0.5%

Top Holdings as of August 31, 2010

Percentage of
Portfolio Assets
(Based on Market Value)

ISHARES LEHMAN 20+YRS TRS	14.7%
ISHARES LEHMAN 7-10YR TRS	10.6%
POWERSHARES DYN MEDIA	7.4%
ISHARES DJ US REALESTATE	6.3%
SPDR BARCLAYS CAP AGGR	5.7%
ISHARES S&P S/T NATION	4.5%
SPDR BARCLAYS 1-3M TBILL	4.5%
ISHARES LEHMAN SHORT TRS	4.4%
POWERSHARES VRDO TF ETF	4.4%
POWERSHARES FIN PFD PORT	4.3%

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.

Privacy Statement | Prospectus | Quarterly Performance