AMF Ultra Short Fund 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 Fund
(November 14, 2001)

-6.16%

-34.32%

-11.87%

-6.34%

N/A

-3.61%

Ticker Symbol: AULTX
CUSIP: 04543R106
Newspaper Fund Family: AMF Funds
Newspaper Fund Symbol: UltraShrt
Total Net Assets as of May 31, 2009: 22,958,477.10
Duration as of March 31, 2009: 0.52 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	93.9%
Corporates	0.0%
Repurchase Agreements	6.1%
Total	100.0%

U.S. Gov't/Agency	45.3%
AAA	10.5%
AA	10.5%
AA+	0.7%
A+	0.6%
A	6.0%
BBB+	2.1%
BBB	0.8%
BB	9.3%
B	2.6%
CCC	2.2%
CC	2.0%
C	1.2%
Cash	6.1%

30 Day Average Yield	7.47%
30 Day SEC Yield	6.69%
Average Quality	AA-
Number of Issues	46