AMF Ultra Short Mortgage Fund Details Month End

Average Annual Total Returns
as of 05/31/09

YTD

1 Year

3 Years

5 Years

10 Years

Since
Inception

AMF Ultra Short Mortgage Fund
(September 18, 1991)

-1.10%

-18.85%

-5.34%

-2.29%

0.87%

2.82%

Ticker Symbol: ASARX
CUSIP: 045419108
Newspaper Fund Family: AMF Funds
Newspaper Fund Symbol: UltShrtMtg
Total Net Assets as of May 31, 2009: 888,739,174.36
Duration as of March 31, 2009: 0.8 Years

Fund Holdings: PDF XL Sheet

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Historic Monthly Returns

Portfolio Management Team:
Maggie Bautista
Kevin Blaser

Sector Allocation
(as of March 31, 2009)

Quality Distribution
(as of March 31, 2009)

Portfolio Characteristics
(as of March 31, 2009)

U.S Treasury Obligations	0.0%
U.S Agency Obligations	0.0%
Mortgage-Backed Securities	97.2%
CDs	0.0%
Repurchase Agreements	2.8%
Derivatives	0.0%
Total	100.0%

U.S. Gov't/Agency	59.0%
AAA	10.3%
AA+	0.4%
AA	9.2%
AA-	0.1%
A	11.1%
BBB	0.3%
B	1.2%
CCC	3.8%
CC	1.6%
C	0.1%
Cash	2.8%

30 Day Average Yield	4.49%
30 Day SEC Yield	4.36%
Average Quality	AA
Number of Issues	140