Alabama Tax-Free Bond  ALABX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Muni Single State Short Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   ---
   Avg Credit Quality
   ---
As of 2009-09-30
Day Change
$ 0.00
  
NAV (2009-11-20)
$ 10.60
  
YTD Return % (2009-11-20)
3.84%
  
Total Assets ($ mil)
30
View Data Definitions
  Performance    
Growth of $10,000 Fund: Alabama Tax-Free Bond
(from 1999-01-01 to 2009-10-31) Category: Muni Single State Short
Index: BarCap Municipal TR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 1993-01-15 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 3.84 4.74 4.01 3.13 4.08 4.21
+/- Category -1.11 -2.76 0.41 0.29 0.23 ---
+/- BarCap Municipal TR USD -8.30 -6.93 -0.24 -1.23 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 3.82 6.22 4.10 3.12 4.09 4.27
Month-End (as of 2009-10-31) 3.19 5.17 3.82 2.92 4.08 4.21
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 5.17 3.82 2.92 4.07 ---
On Distribution & Sale of Shares --- 4.49 3.76 2.97 4.03 ---
Morningstar Rating --- --- ---
# of compared funds covered (3 yrs : out of 11 funds), (5 yrs : out of 11 funds), (10 yrs : out of 7 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
General Obligations 30.64
Advance Refunded 4.57
State Appropriated Tobacco ---
Non-state Appropriated Tobacco ---
Education 24.56
Health 1.33
Housing ---
Industrial ---
Transportation ---
Utilities 1.88
Water/Sewer 11.67
Misc. Revenue 25.35
Bond Quality % of Bonds
AAA ---
AA ---
A ---
BBB ---
BB ---
B ---
Below B ---
Not Rated ---
 
Asset Allocation
% of Net Assets
Cash 14.9
Stocks 0.0
Bonds 85.1
Other 0.0
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings Turnover % 8
Total Number of Bond Holdings 72 30 Day SEC Yield % 4.26
% of Assets in Top 10 Holdings 19.29 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Alpine Municipal Money Market --- 1,693 1,693 5.60
Foley Ala Utils Brd Utils Rev Rev Bds 4% 2018-11-01 710 766 2.54
Alabama St Pub Sch & College A Ca 5.125% 2013-11-01 600 611 2.02
Vestavia Hills Ala G.O Wts 5% 2012-02-01 565 605 2.00
Houston Cnty Ala Brd Ed Cap Ou Cap Ou 4% 2013-12-01 545 594 1.97
Homewood Ala G.O Wts 5% 2014-09-01 500 546 1.81
Mobile Ala G.O Ref W 5.5% 2015-08-15 500 545 1.80
Mobile Ala G.O Ref W 5.2% 2018-08-15 500 543 1.80
Houston Cnty Ala Ref Go Wt 4.75% 2016-10-15 500 543 1.80
Huntsville Ala G.O Ref W 5% 2011-08-01 500 538 1.78
Data through 2009-09-30
  Other Information
Fund Inception: 1993-01-15
Portfolio Manager  (Start Date)
Timothy S. Healey  (1993-01-15)
Healey is an executive vice president and has been a portfolio manager with T. Leavell & Associates Inc. since February 1986. Prior to joining the company, he spent 11 years as an analyst and portfolio manager with Torchmark Investment Advisory Company. As a fixed-income manager, Healey seeks a high-quality portfolio with low turnover and intermediate duration.
Sales Charge %
(taken from prospectus dated 2009-09-30)
Front: None
Deferred: None
Expense Ratio % 0.65
based on net assets
(taken from annual report dated 2009-03-31)
Correspondence Information
C/O Ultimus Fund Solutions, LLC
225 Pictoria Drive, Suite 450
Cincinnati,  OH  45246
USA
Telephone:
800-281-3217
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.