The Teberg Fund (Prospectus Summary) | The Teberg Fund

Summary Section

Investment Objective

The investment objective of The Teberg Fund (the "Fund") is to seek to maximize
total return (capital appreciation plus income).

Fees and Expenses of the Fund

This table 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)

Shareholder Fees	The Teberg Fund Investor Class
Maximum Sales Charge (Load) Imposed on Purchases	none
Maximum Deferred Sales Charge (Load)	none
Redemption Fee (as a percentage of amount redeemed)	none

ANNUAL FUND OPERATING EXPENSES (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses		The Teberg Fund Investor Class
Management Fees		1.50%
Distribution (Rule 12b-1) Fees		0.25%
Other Expenses		0.59%
Subtotal Annual Fund Operating Expenses		0.0234
Acquired Fund Fees and Expenses		0.78%
Total Annual Fund Operating Expenses	[1]	3.12%
Less: Fee Waiver	[2]	(0.02%)
Net Annual Fund Operating Expenses		3.10%

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 costs may be higher or lower, based on these assumptions your costs would be:

Expense Example (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
The Teberg Fund Investor Class	313	957	1,625	3,411

Portfolio Turnover.

The Fund pays transaction costs when it buys and sells securities
(or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when
Fund shares are held in a taxable account. These costs, which are not
reflected in Annual Fund Operating Expenses or in the Example, affect
the Fund's performance. During the most recent fiscal year, the Fund's
portfolio turnover rate was 86.88% of the average value of its portfolio.

Principal Investment Strategies

To achieve the Fund's investment objective, the Advisor invests the Fund's
assets primarily in shares of any number of other no-load and load-waived mutual
funds, sometimes referred to in this Prospectus as "Underlying Funds." The
Underlying Funds pursue their own investment objectives by investing in
particular types of securities (e.g., equity or debt), emphasizing a particular
investment style (e.g., value or growth), or emphasizing certain industries or
sectors. Some of the Underlying Funds invest in the stocks of small, medium and
large capitalization domestic or international companies while others invest in
fixed-income securities of varying maturities (e.g., short-term, intermediate or
long-term) and credit qualities (e.g., investment grade or lower than investment
grade), including government and corporate bonds, as well as high-yield
securities or "junk bonds." Over time, the Fund's asset mix is likely to consist
of a combination of equity, fixed-income, or money market funds; however, the
Fund reserves the right to invest all of its assets in any one of these asset
classes depending upon market conditions and to actively trade in Underlying
Funds. Additionally, the Fund may commit up to 80% of its net assets at any
given time to Underlying Funds that invest in high-yield or "junk bond"
securities.

The Advisor is responsible for constructing and maintaining the allocation of
the Fund's assets in a timely combination of Underlying Funds that maximizes the
Fund's total return. The Advisor uses a "top down" approach to actively
selecting Underlying Funds that begins with an analysis of the general economic
outlook. The next step is to analyze historical market patterns with the goal of
determining which categories and sectors are likely to perform well in certain
economic conditions. Next, the Advisor analyzes the historical returns of a
broad universe of mutual funds and selects those that exhibit the potential for
superior growth based on factors including, but not limited to, their exposure
to risk, historical performance, downside records, and competitive position.

To determine when to sell Underlying Funds, the Advisor analyzes how the general
economic outlook could impact certain categories and sectors based on historical
market patterns. The Advisor continuously monitors the pricing of each
Underlying Fund to identify if it is performing as anticipated with the goal of
selling an Underlying Fund when it appears to have reached its expected growth
potential. The Advisor may sell an Underlying Fund prior to reaching this growth
level if the economic outlook changes or it appears that the Underlying Fund is
not reacting to current conditions as it has to similar periods in the past.

Because the Fund is a "fund of funds," you will indirectly bear your
proportionate share of any fees and expenses charged by the Underlying Funds in
which the Fund invests in addition to the expenses of the Fund. Actual
Underlying Fund expenses are expected to vary with changes in the allocation of
the Fund's assets among various Underlying Funds.

Principal Investment Risks

Losing all or a portion of your investment is a risk of investing in the Fund.
The following additional risks could affect the value of your investment:

·  Management Risk. The risk that investment strategies employed by the Advisor
   in selecting the Underlying Funds and those used by the Underlying Funds in
   selecting investments may not result in an increase in the value of your
   investment equal to other investments or may cause your investment to lose
   value.

·  Stock Market Risk. The value of the Fund's shares will fluctuate based on the
   performance of the Underlying Funds of which the Fund owns shares and other
   factors affecting the securities markets generally.

·  Bond Market Risk. These risks apply to the extent the Underlying Funds hold
   fixed-income securities. Interest rate risk is the risk that interest rates
   may go up resulting in a decrease in the value of the securities held by the
   Underlying Funds. Credit risk is the risk that an issuer will not make timely
   payments of principal and interest.

·  High-Yield Securities Risk. The fixed-income securities held by Underlying
   Funds that are rated below investment grade (i.e., "junk bonds") are subject
   to additional risk factors such as increased possibility of default,
   illiquidity of the security, and changes in value based on public perception
   of the issuer.

·  Small and Medium Capitalization Companies Risk. Securities of smaller
   companies in which the Underlying Funds may invest involve greater risk than
   securities of larger companies because they can be subject to more abrupt or
   erratic share price changes than securities of larger, more established
   companies.

·  Non-Diversification Risk. The Fund is non-diversified, which means that
   compared with diversified funds, the Fund may invest a greater percentage of
   its assets in a particular Underlying Fund. The Fund's shares may be more
   susceptible to adverse changes in the value of a particular Underlying Fund
   than the shares of a diversified mutual fund.

·  Industry or Sector Emphasis Risk. To the extent that an Underlying Fund
   invests a substantial portion of its portfolio in a particular industry or
   sector, such Underlying Fund's shares may be more volatile and fluctuate more
   than shares of an Underlying Fund investing in a broader range of securities.

·  Underlying Funds Expense Risk. The Underlying Funds, which may include
   exchange-traded funds ("ETFs"), are either open-end or closed-end investment
   companies. ETFs are investment companies that are bought and sold on a
   national securities exchange. All Underlying Funds have management fees that
   are part of their costs. To the extent that the Fund invests in Underlying
   Funds, there will be some duplication of expenses because the Fund would bear
   its pro rata portion of such funds' management fees and operational expenses.

·  Portfolio Turnover Risk. A high portfolio turnover rate (100% or more) has the
   potential to result in the realization by the Fund and distribution to
   shareholders of a greater amount of capital gains than if the Fund had a low
   portfolio turnover rate. This may mean that you would be likely to have a
   higher tax liability. Distributions to shareholders of short-term capital
   gains are taxed as ordinary income under federal tax laws. When purchasing
   Fund securities through a broker, high portfolio turnover generally involves
   correspondingly greater brokerage commission expenses, which must be borne
   directly by the Fund.

This Fund may be appropriate for investors who are:

·  seeking capital appreciation and income consistent with the assumption of an
   average level of market risk;

·  willing to leave their money invested in the Fund for at least five years;

·  able to tolerate a risk that they may experience share price fluctuations or
   lose money on their investment; or

·  able to tolerate the risks associated with investments in high-yield
   securities.

Performance

The following performance information provides some indication of the risks of
investing in the Fund. The bar chart shows changes in the Fund's performance
from year to year. The table shows how the Fund's average annual returns for 1
and 5 years and since inception compare with those of broad measures of market
performance. The Fund's past performance, before and after taxes, is not
necessarily an indication of how the Fund will perform in the future. Updated
performance information is available on the Fund's website at www.tebergfund.com
or by calling the Fund toll-free at 1-866-209-1964.

Calendar Year Total Returns (%) as of December 31

The Fund's year-to-date return as of June 30, 2011, was 1.81%. During the period
of time displayed in the bar chart, the Fund's highest quarterly return was
19.24% for the quarter ended June 30, 2009, and the Fund's lowest quarterly
return was -15.42% for the quarter ended December 31, 2008.

Average Annual Total Returns (For the periods ended December 31, 2010)

Average Annual Total Returns The Teberg Fund	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, Since Inception	Average Annual Returns, Inception Date
Investor Class	Return Before Taxes	6.08%	4.05%	4.79%	Apr. 01, 2002
Investor Class After Taxes on Distributions	Return After Taxes on Distributions	5.30%	2.95%	3.87%	Apr. 01, 2002
Investor Class After Taxes on Distributions and Sales	Return After Taxes on Distributions and Sale of Fund Shares	4.92%	3.21%	3.82%	Apr. 01, 2002
S&P 500® Index	S&P 500® Index (reflects no deduction for fees, expenses, or taxes)	15.06%	2.29%	3.07%	Apr. 01, 2002
Dow Jones Industrial Average	Dow Jones Industrial Average (reflects no deduction for fees, expenses, or taxes)	14.06%	4.31%	3.82%	Apr. 01, 2002

After-tax returns are calculated using the historically highest individual
federal marginal income tax rates and do not reflect the impact of state and
local taxes. Actual after-tax returns depend on an investor's tax situation and
may differ from those shown, and after-tax returns are not relevant to investors
who hold their Fund shares through tax-deferred arrangements such as 401(k)
plans or individual retirement accounts ("IRAs").  The Return After Taxes on
Distributions and Sale of Fund Shares is higher than other return figures when a
capital loss occurs upon the redemption of Fund shares.

[1] The Total Annual Fund Operating Expenses for the Fund do not correlate to the Ratio of Expenses to Average Net Assets Before Expense Waiver provided in the Financial Highlights section of the statutory prospectus, which reflects the operating expenses of the Fund and does not include Acquired Fund Fees and Expenses ("AFFE").

[2] Effective April 1, 2009, First Associated Investment Advisors, Inc. (the "Advisor") has contractually agreed to reduce its management fee in the amount of any Rule 12b-1 fees received from transactions involving the Fund. The Advisor will pay to the Fund the amount of any such Rule 12b-1fees. The management fee reduction will remain in effect at least through July 29, 2021, and may be terminated only with the consent of the Fund's Board of Trustees.