The inception date of the AMF Money Market Fund (Class I Shares) is 11/27/82. The inception date of the AMF Ultra Short Fund is 11/14/01. The inception date of the AMF Ultra Short Mortgage Fund is 09/18/91. The inception date of the AMF Short U.S. Government Fund is 11/27/82. The inception date of the AMF Intermediate Mortgage Fund is 11/7/86. The inception date of the AMF U.S. Government Mortgage Fund is 01/23/84. The inception date of the AMF Large Cap Equity Fund is 6/30/53. As of 06/30/2010, SEC Standardized Returns for the AMF Money Market: Class I Fund for 1 year, 5 years, 10 years and since inception were 0.08%, 2.74%, 2.53%, and 4.96%, respectively. As of 6/30/2010, SEC Standardized Returns for the AMF Ultra Short Fund for 1 year, 5 years and since inception were 2.36%, -6.32%, and -2.89%, respectively. As of 06/30/2010, SEC Standardized Returns for the AMF Ultra Short Mortgage Fund for 1 year, 5 years, 10 years and since inception were 8.84%, -1.05%, 1.18%, and 3.12%, respectively. As of 06/30/2010, SEC Standardized Returns for the AMF Short U.S. Government Fund for 1 year, 5 years, 10 years and since inception were 4.96%, 1.99%, 3.13%, and 6.06%, respectively. As of 06/30/2010, SEC Standardized Returns for the AMF Intermediate Mortgage Fund for 1 year, 5 years, 10 years and since inception were -0.91%, -7.86%, -1.67%, and 3.18%, respectively. As of 06/30/2010, SEC Standardized Returns for the AMF U.S. Government Mortgage Fund for 1 year, 5 years, 10 years and since inception were 7.06%, 1.52%, 3.57%, and 6.73%, respectively. As of 06/30/2010, SEC Standardized Returns for the AMF Large Cap Equity Fund for 1 year, 5 years, 10 years and since inception were 13.92%, -0.44%, 0.02%, and 10.12%, respectively.

The performance data represents past performance and does not guarantee future results. Current performance may be higher or lower than the performance data quoted. The most recent month-end data can be found at www.amffunds.com or by calling (800)527-3713. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of an investment at $1.00 per share, it is possible to lose money by investing in the Fund. As of 12/31/2008, without fee waiver and/or expense reimbursement for the AMF Money Market Fund Class I Shares the effective yield figure would have been lower.

The Adviser and Distributor are currently waiving .10% and .10% respectively of 1% of their respective fees on the AMF Money Market Class I Shares beginning 03/31/08 and 11/01/04 respectively. For the fiscal year ended October 31, 2009, the Advisor and the Distributor voluntarily waived 0.20% and 0.10% of their fees, respectively, so that “Total Fund Operating Expenses” for the Ultra Short Mortgage Fund were 0.60%. The Advisor and Distributor expect to continue these waivers throughout the year but are not obligated to do so. For the fiscal year ended October 31, 2009, the Advisor and the Distributor voluntarily waived 0.20% and 0.10% of their fees, respectively, so that “Total Fund Operating Expenses” for the Ultra Short Fund were 0.67%. The Advisor and Distributor expect to continue these waivers throughout the year but are not obligated to do so. As of October 31, 2009 annual operating expenses for the AMF Short U.S. Government Fund as a percentage of net assets were 0.59%. For the term of the advisory agreement which is subject to annual renewal on March 1 of each year, the Advisor has contractually agreed to reduce its advisory fee with respect to the Fund to the extent that the daily ratio of operating expenses to average daily net assets of the Fund exceeds 0.75%. For the fiscal year ended October 31, 2009, the Advisor voluntarily waived 0.10% of its advisor fee so that “Total Fund Operating Expenses” for the Intermediate Mortgage Fund were 0.70%. The Advisor and Distributor expect to continue these waivers throughout the year but are not obligated to do so. For the term of the advisory agreement which is subject to annual renewal on March 1 of each year, the Advisor has contractually agreed to reduce its advisory fee with respect to the Fund to the extent that the daily ratio of operating expenses to average daily net assets of the Fund exceeds 0.75%. As of October 31, 2009 annual operating expenses for the AMF U.S. Government Mortgage Fund as a percentage of net assets were 0.68%. For the term of the advisory agreement which is subject to annual renewal on March 1 of each year, the Advisor has contractually agreed to reduce its advisory fee with respect to the Fund to the extent that the daily ratio of operating expenses to average daily net assets of the Fund exceeds 0.75%. As of October 31, 2009, annual operating expenses for the AMF Large Cap Equity Fund as a percentage of average net assets were 1.20%. The Distributor is voluntarily waiving 0.10% of its fees for the Class AMF Shares so that the “12b-1 Fees” would be 0.15%. With such waiver, the “Total Fund Operating Expenses” would be 1.10% for Class AMF Shares. The Distributor expects to continue this waiver through December 31, 2010 but is not contractually obligated to continue the waiver for any specified period. If these fee waivers were rescinded, performance would be reduced. If these fee waivers were rescinded, performance would be reduced.

Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Mutual Funds that invest in securities issued by the U.S. Government or its Agencies are not insured by the U.S. Government, the FDIC or any other government agency.

The fund is generally subject to credit, extension, hedging, government agency, interest rate, issuer, liquidity, management, market and prepayment risks. Read the prospectus carefully before you invest or forward funds. The Fund may not be available to investors in all states, and this does not constitute an offer in those states. Investors should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other investment information about the Fund. To receive a prospectus, please contact the Fund's Distributor, Shay Financial Services, Inc., member FINRA and SIPC, at (800) 982-1846.