The Buckingham Report

On December 6, 2007, the Al Frank Fund (VALUX) paid a long-term capital gains distribution of $3.118 per share, a short-term capital gains distribution of $.075 per share and an income distribution of $.052 per share. The Al Frank Dividend Value Fund (VALDX) paid a long-term capital gains distribution of $.525 per share, a short-term capital gains distribution of $.017 per share and an income distribution of $.063 per share. The record date for the distributions was December 5, 2007.

Past performance is not indicative of future results. Mutual Fund investing involves risk. Principal loss is possible.

The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 888.263.6443, or by visiting alfrankfunds.com. Please read it carefully before investing.

Quasar Distributors, LLC, Distributor. (12/07)