[LOGO - THE CATHOLIC FUNDS, INVESTING WITH FAITH IN THE FUTURE]
PROFILE
November 14, 1999
[LOGO] The Catholic Money Market Fund
This profile summarizes key information about the Fund that is included in the
Fund's prospectus. The Fund's prospectus includes additional information about
the Fund, including a more detailed description of the risks associated with
investing in the Fund that you may want to consider before you invest. You may
obtain the prospectus and other information about the Fund at no cost by calling
toll-free 1-877-222-2402.
What are the Fund's objectives?
The Catholic Money Market Fund seeks current income, a stable share price and
daily liquidity.
What are the Fund's principal investment strategies?
We manage the Fund to provide attractive yields and a stable share price of
$1.00. The manager focuses on high-quality, short-term debt securities issued by
certain corporations, banks and other financial institutions. We strive to
invest in companies whose primary products and services are consistent with
certain core Catholic values.
What are the Fund's primary risks?
The Fund is subject to credit risk, interest rate risk and adviser risk.
Credit risk involves the chance that an issuer of a security may not pay the
interest or the principal when it is due.
Interest rate risk is the chance that an increase in interest rates will reduce
the fair market value of a security.
Adviser risk is the risk that the adviser's application of investment strategies
will be less successful than other funds and the Fund may underperform other
funds. In addition, because the Fund invests consistent with core Catholic
values, the adviser may have fewer investments to choose from than
other funds.
Any investment in the Fund is not insured or guaranteed by the Federal Deposit
Insurance Corporation or any other governmental 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. The Fund is appropriate for investors who
are comfortable with the risks described here and want liquidity. It
can also be used as a permanent conservative part of your portfolio.
Because the Fund started on November 8, 1999, no calendar return information is
available. You may call 1-877-222-2402 to obtain the current yield.
What are the Fund's fees and expenses?
This section describes the fees and expenses that you may pay if you buy and
hold shares of the Fund.
Shareholder Fees (fees paid directly from your investment):
The Fund is no-load, so you pay no sales charges (loads) to buy or sell
shares.
Annual Fund Operating Expenses (expenses that are deducted from Fund assets):
The costs of operating the Fund are deducted from Fund assets, which means you
pay them indirectly. These costs are deducted before computing the daily share
price or making distributions. As a result, they don't appear on your account
statement, but instead reduce the total return you receive from your investment.
Management fee: 0.30%
Distribution and Service (12b-1) fee: 0.05%
Other expenses: 0.59%
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Total Fund Operating Expenses 0.94%
Hypothetical Example
This example is intended to help you compare the cost of investing in the Fund
with the cost of investing in other mutual funds. The example assumes that
you invest $10,000 in the Fund for the time periods indicated and then
redeem all of your shares at the end of those periods. The example also assumes
that your investment has a 5% return each year and that the Fund's operating
expenses remain the same. Although your actual cost may be higher or lower,
based on these assumptions, your cost would be:
1 year 3 years
--------------------------
$96 $301
Who are the Fund's Managers?
Investment Adviser
Catholic Financial Services Corporation, a Wisconsin corporation organized in
1994, is the investment adviser and distributor for the Fund. As the adviser, it
is responsible for the investment decisions for the Fund.
Sub-Adviser
Strong Capital Management, Inc. serves as the sub-adviser for the Fund and makes
the day-to-day investment decisions for the Fund.
[telephone number 877-222-2402]
Portfolio Manager
Jay N. Mueller manages the Fund. He has over 15 years of investment experience
and is a Chartered Financial Analyst. He joined the sub-adviser as a securities
analyst and portfolio manager in September 1991.
How can I buy Fund shares?
To open an account you will need to complete and sign the application; make a
check payable to The Catholic Funds; and mail these documents to The Catholic
Funds, PO Box 05710, Milwaukee, WI 53205-9986. You may also open an account in
person through your Catholic Financial Services Corporation Registered
Representative.
The minimum initial investment is $1,000 for all accounts. There is a $50
minimum for additional purchases.
How can I sell Fund shares?
You can sell shares in several ways:
By mail: Write a letter of instruction which includes your account number,
the dollar amount or number of shares you wish to redeem, the names and
signatures of the owners, and your mailing address. Mail it to The Catholic
Funds, PO Box 701, Milwaukee, WI 53201-0701.
By telephone: Unless you chose not to have this feature, you may call
1-877-222-2402 to sell shares.
By check: Unless you declined when you opened your account, you have free
checkwriting so you may write a check (minimum $500) to sell shares with some
restrictions on retirement accounts. You may not be able to write a check
against a deposit for 12 days or until the deposit check has cleared, whichever
occurs first.
Does this Fund pay out dividends? If so, how are they taxed?
Yes, the Fund pays you dividends from net investment income monthly. Dividends
are declared on each day that net asset value is calculated, except for bank
holidays. Unless you elect otherwise, your dividend distributions will be
automatically reinvested in additional shares of the Fund.
These distributions are taxable regardless of whether you reinvest them or take
them in cash. Income is taxable at ordinary federal income tax rates. To assist
you in tax preparation, we send you a statement of your ordinary dividends (Form
1099) after the end of each calendar year.
What services does the Fund provide?
Automatic investment plans
Automatic exchange plan
Systematic withdrawal plan
Confirmation and monthly statements
Exchange privilege
Automated telephone service
To learn more about each of these services and to obtain more information about
buying and selling Fund shares, contact your Catholic Financial Services
Corporation Registered Representative or call 1-877-222-2402.
NEITHER THE CATHOLIC FUNDS NOR CATHOLIC FINANCIAL SERVICES CORPORATION IS
SPONSORED OR ENDORSED BY THE CATHOLIC CHURCH, NOR HAS THE CATHOLIC CHURCH
APPROVED OR DISAPPROVED THE FUNDS' SHARES.
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Catholic Financial Services Corporation
1100 West Wells Street
Milwaukee, WI 53233
(414) 278-6550
Member NASD
Not available in all states
