* This spectrum shows the relative volatility of the Summit Mutual Fund family determined using annualized standard deviation calculations from 1/1/00⁺ through 12/31/07. Standard deviation is a statistical measure of the historical volatility of a mutual fund or portfolio. Please refer to the prospectus for each Fund’s specific risks. This spectrum should not be used to compare Summit Mutual Funds to any other funds or different types of investments. This spectrum should not be used to predict the future volatility or performance of a fund. Also a fund’s position on this spectrum is subject to change without notice as market or economic conditions change.

** While there is potential for higher returns on high risk funds, there is no guarantee on the performance of these or any other Fund.

⁺ Or since the Fund's inception date if later than 1/1/00. The inception date for the Everest Fund and Nasdaq-100 Fund is 1/1/00. The inception date for the Bond Fund and Short-Term Government Fund is 4/1/00. The inception date for the Money Market fund is 6/28/00. The inception date for the High Yield Fund is 7/1/01. The inception date for the Large Cap Growth Fund is 12/28/06.

Summit Investment Partners, Inc., is the investment manager for the portfolios. An investor should consider the investment objectives, risks and charges before investing.

Everest Fund Risks. Financial Risk: The Fund's total return will fluctuate with fluctuations in the earnings stability or overall financial soundness of the companies whose stock the Fund purchases. Investment Style Risk: The Fund's investment style risks that returns from "value" stocks it purchases will trail returns from other asset classes or the overall stock market. Although the fund has not utilized these instruments, the fund may invest up to 20% of its assets in financial futures contracts and options which involves additional risks.

Nasdaq-100 Risks. Investment Style Risk: This fund is, at times, more heavily invested in technology-related industries than other funds. During these times its performance will be more volatile than that of other, more broad-based funds because this heavier investment can magnify the effect of market shifts in the technology sector.

Large Cap Growth Fund Risks. Financial Risk: The Fund's total return will fluctuate with fluctuations in the earnings stability or overall financial soundness of the companies whose stock the Fund purchases. Investment Style Risk:  The Fund's investment style risks that returns from "growth" stocks it purchases will trail returns from other asset classes or the overall stock market. The fund may invest up to 20% of its assets in options and future contracts, which have the risks of unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of securities prices, interest rates and currency exchange rates.

High Yield Fund Risks. Interest rate risk:  High yield bonds are affected by interest rate changes.  Generally, when interest rates rise, the prices of these bonds fall.  The longer the maturity of these bonds, the greater is this impact from interest  rate changes. The value of the Fund’s investments also will vary with bond market conditions.  The Fund is an intermediate term bond portfolio. Credit risk: Credit risk is the risk that an issuer of a security will be unable to make payments of principal and/or interest on a security held by the Fund. When an issuer fails to make a scheduled payment of principal or interest on a security, or violates other terms and agreements of a security, the issuer and security are in default. The credit risk of the Fund’s investments is very high. Nondiversification risk:  The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore the Fund is more exposed to individual stock volatility than a diversified fund.

Bond Fund Risks. Interest rate risk:  High yield bonds are affected by interest rate changes. Generally, when interest rates rise, the prices of these bonds fall. The longer the maturity of these bonds, the greater is this impact from interest  rate changes. The value of the Fund’s investments also will vary with bond market conditions.  The Fund is an intermediate term bond portfolio. Credit risk: Credit risk is the risk that an issuer of a security will be unable to make payments of principal and/or interest on a security held by the Fund. Income risk: Income risk is the risk of a decline in the Fund’s income due to falling market interest rates. Income risk is generally higher for short term bonds. Prepayment risk: Prepayment risk is the risk that, during periods of declining interest rates, the principal of mortgage-backed securities and callable bonds will be repaid earlier than scheduled, resulting in reinvestment of the unanticipated repayments at generally lower interest rates.

Short-Term Government Fund Risks. Investments in Asset Backed and Mortgage Backed Securities include additional risks that investors should be aware of, including possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Interest rate risk: Interest rate risk is the potential for fluctuation in bond prices due to changing interest rates. Bond prices generally fall when interest rates rise. The price of bonds with a longer maturity generally fluctuates more than bonds with a shorter maturity. The Fund expects that it will maintain a short average maturity. Credit risk: Credit risk is the risk that an issuer of a security will be unable to make payments of principal and/or interest on a security held by the Fund. Given that 100% of the assets held by the Fund are issued by the U.S. government or its agencies, the credit risk to the Fund should be low. Income risk: Income risk is the risk of a decline in the Fund’s income due to falling market interest rates. Income risk is generally higher for short term bonds. Prepayment risk: Prepayment risk is the risk that, during periods of declining interest rates, the principal of mortgage-backed securities and callable bonds will be repaid earlier than scheduled, resulting in reinvestment of the unanticipated repayments at generally lower interest rates.

An investment in a money market fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.