American Performance Funds

What's New!

The Investment Advisor to the American Performance Funds is changing its name from AXIA Investment Management, Inc. to Cavanal Hill Investment Management, Inc. Materials you receive from American Performance will reflect the Advisor’s new name effective immediately. The advisor has a new corporate look as well which you may see at the new website -- www.cavanalhill.com.

Thank you for investing in the American Performance Funds and, as always, if you have questions about this or any other matter, please call your fund representative
at 1-800-762-7085.

American Performance Short Term Income Fund Ranked #1 by Lipper, Inc
for the 10-Year Period ended 12/31/06. Click here for additional performance and ranking information.

Are You Paying Too Much in Taxes?
Click here for tips and techniques to lower your tax burden by lowering your taxable income, taking advantage of tax credits and making sure you are taking all of your qualified deductions.

American Performance Funds 2007 Capital Gains Distributions¹

¹General tax information provided. Please consult with your tax advisor for how it would apply to you.

Quarterly Updates
	Brian Henderson, CFA, President, Cavanal Hill Investment Management, Inc.

03/31/08 Fund Fact Sheets. To view fund composition, top 10 holdings and performance, go to each individual Fund Information page and click on Quarterly Reports in the download box.
03/31/08 Fund Manager Commentary. To read the latest market or fund commentary, go to each individual Fund Information page and click on Quarterly Commentary in the download box.

Hot Links
	What type of investor are you? Click here to take our investor profile quiz and find out.	Changing jobs or retiring? Click here for helpful hints about what to do with your 401(k) assets.
	Get a free investor kit! For more information about AP Funds, contact us.

Mutual funds, annuities, and other investments are:

not insured or guaranteed by the FDIC or by any other government agency or government sponsored agency of the federal government of any state
not deposits, obligations, or guaranteed by Cavanal Hill Investment Management, Inc. or its affiliates
subject to investment risks, including possible loss of the principal amount invested

Past performance is no guarantee of future results. Investment return and net asset value will fluctuate so that an investor's shares, when redeemed may be worth more or less than the original cost.

For more complete information on American Performance Funds including charges and expenses view our prospectus on-line or call 800 762-7085. Please read the prospectus carefully before investing or sending money.

Distributor: BOSC, Inc., a subsidiary of BOK Financial Corp.