Summit Mutual Funds - Performance Ending September 30, 2008

View Standardized Quarterly Performance

As Of 09/30/2008*				As Of 09/30/2008*, Annualized
September	Last 3 Months	YTD	Last 12 Months	3 Years	5 Years	Annualized Since Inception	Gross Expense Ratio
Managed Funds
Everest Fund - I Class SAEVX Inception: 12/29/99
(9.02%)	(8.38%)	(20.14%)	(23.89%)	0.51%	6.48%	5.12%	0.92%
Everest Fund - A Class - without Load SEVRX Inception: 12/29/99
(9.03%)	(8.43%)	(20.26%)	(24.05%)	0.28%	6.26%	4.86%	1.17%
Everest Fund - A Class - with Load SEVRX Inception: 12/29/99
(14.26%)	(13.69%)	(24.84%)	(28.42%)	(1.68%)	5.01%	4.15%	1.17%
Large Cap Growth Fund - I Class SFLGX Inception: 12/28/06
(10.42%)	(9.26%)	(16.71%)	(17.53%)	N/A	N/A	(5.82%)	9.10%³
Large Cap Growth Fund - A Class - without Load SLGGX Inception: 12/28/06
(10.44%)	(9.33%)	(16.87%)	(17.85%)	N/A	N/A	(6.09%)	9.35%³
Large Cap Growth Fund - A Class - with Load SLGGX Inception: 12/28/06
(15.59%)	(14.54%)	(21.66%)	(22.58%)	N/A	N/A	(9.20%)	9.35%³
Bond Fund - I Class SABDX Inception: 4/3/00
(8.13%)	(9.06%)	(12.06%)	(11.26%)	(1.17%)	0.80%	3.51%	0.76%
Bond Fund - A Class - without Load^** SFBNX Inception: 4/3/00
(8.15%)	(9.12%)	(12.23%)	(11.50%)	(1.42%)	0.55%	3.26%	1.01%
Bond Fund - A Class - with Load^** SFBNX Inception: 4/3/00
(12.05%)	(12.99%)	(15.96%)	(15.26%)	(2.84%)	(0.32%)	2.73%	1.01%
Short-Term Gov. Fund - I Class SASTX Inception: 4/3/00
0.43%	0.90%	2.32%	4.22%	4.28%	2.97%	4.29%	0.74%
Short-Term Gov. Fund - A Class - without Load^** SFSTX Inception: 4/3/00
0.39%	0.84%	2.13%	3.97%	4.03%	2.72%	4.03%	0.99%
Short-Term Gov. Fund - A Class - with Load^** SFSTX Inception: 4/3/00
(2.63%)	(2.18%)	(0.94%)	0.84%	2.98%	2.09%	3.66%	0.99%
High Yield Fund - I Class² SAPHX Inception: 7/9/01
(6.56%)	(6.87%)	(9.02%)	(9.63%)	0.80%	4.89%	4.21%	1.27%
High Yield Fund - A Class - without Load^2,** SFHIX Inception: 7/9/01
(6.61%)	(6.96%)	(9.25%)	(9.91%)	0.53%	4.62%	3.95%	1.52%
High Yield Fund - A Class - with Load^2,** SFHIX Inception: 7/9/01
(10.57%)	(10.91%)	(13.12%)	(13.74%)	(0.91%)	3.72%	3.32%	1.52%
Money Market SAPXX Inception: 6/28/00
0.18%	0.56%	2.09%	3.33%	4.25%	3.17%	3.03%	0.45%
Index Funds
Nasdaq-100 Index Fund - I Class¹ SANIX Inception: 12/28/99
(14.81%)	(13.21%)	(23.53%)	(23.80%)	(0.31%)	3.88%	(9.35%)	0.66%

* All performance information is net of fees and expenses.

**Class A shares of the Bond, Short-Term Government and High Yield Bond Funds first became available on February 1, 2007. Performance shown prior to that date reflects that of the Class I shares with the class A maximum sales charge of 4.25%, 3.00% and 4.25%, respectively, applied.

The performance data quoted represents past performance and past performance does not guarantee future results. The 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. Current performance may be lower or higher than the performance data quoted. Performance data shown for Class A With Load reflects the Class A maximum sales charge of 5.75%. Performance data shown for Class A Without Load does not reflect the deduction of the sales load. If reflected, the load would reduce the performance.

An investment in the Money Market Fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.

¹ CONCENTRATION RISK: The Nasdaq-100 Index Fund is subject to the risk of an investment portfolio that may be highly concentrated in a particular industry (e.g. Technology) and, due to concentration in sectors characterized by relatively higher volatility in price performance, tends to be more volatile when compared to other broad-based stock indexes.

² INVESTMENT STYLE RISK: This portfolio may invest up to 100% of its net assets in lower rated bonds, commonly known as "junk bonds," that entail greater risks than those found in higher rated securities.

³ Summit Investment Partners has voluntarily agreed to waive its fees and/or reimburse expenses, to the extent necessary, to limit Total Annual Fund Operating Expenses to 1.10% of average daily net assets of the Large Cap Growth Fund - Class I, and to 1.35% of the average daily net assets of the Large Cap Growth Fund - Class A until January 31, 2009.

⁺ Prior to October 1, 2004, Class A shares were designated as Class F shares and were not subject to an initial sales charge. Since October 1, 2004, the initial sales charge for the Class A shares of the Nasdaq-100 Index Fund has been waived until further notice. Accordingly, the table does not reflect the impact of the initial sales charge, which would have the effect of lowering performance returns. All other terms and conditions regarding the Class A shares of the Fund, including the Distribution and Shareholder Service (12b-1) Plan fee set forth in the prospectus and in the Statement of Additional Information remain unchanged.