Who Should Invest in the Fund?

Investors who are seeking more income from a portfolio comprised primarily of U.S. Treasuries. The Fund works well as a core holding in any portfolio.

Investment Objective:

A mutual fund with the investment objectives of a high level of current income, consistent with prudent investment risk, by investing primarily in a portfolio consisting of fixed income securities issued or guaranteed by the governments of the United States, Canada, and Mexico.

Investment Strategy:

The three North American economies (U.S., Canada & Mexico) have grown closer together because of the trade link established by NAFTA Agreement. Higher government interest rates outside the U.S., especially in Mexico, presents an investment opportunity. By blending the three countries together the advisor seeks to reduce the risks normally associated with international investing and produce a higher return than a U.S. only portfolio.

The country mix is actively managed according to where we see the best investment opportunity. The Fund cannot be more than 33% in either Canada or Mexico.

Fund Facts:

Gross Expense Ratio: 1.11%(NOAMX) & 1.74%(NORCX)
Minimum Initial Investment: $5,000 for a regular account & $1,000 for an IRA.
Minimum Subsequent Investment: $250 for all accounts.
Fund Management: Al Medaugh - Portfolio Manager
                                    Ed Hyman - Senior Economic Advisor
Fund Inception Date: (NOAMX) 01/15/93 (NORCX) 05/16/03