PNC MONEY MARKET FUND (Second Prospectus Summary) | PNC MONEY MARKET FUND

PNC MONEY MARKET FUND

INVESTMENT OBJECTIVE

The Fund seeks to provide high current income consistent with stability of
principal and liquidity.

FUND FEES AND EXPENSES

The following table describes the fees and expenses that you may pay if you buy
and hold Fund shares.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses	PNC MONEY MARKET FUND CLASS I
Management Fees	0.25%
Distribution (12b-1) Fees	none
Shareholder Servicing Fees	none
Other	0.10%
Other Expenses	0.10%
Total Annual Fund Operating Expenses	0.35%

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 Class I Shares of 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
PNC MONEY MARKET FUND CLASS I	36	113	197	443

PRINCIPAL INVESTMENT STRATEGIES

The Fund invests primarily in a variety of high quality, short-term U.S.
dollar-denominated money market securities, including certificates of deposit,
time deposits and other obligations issued by domestic and foreign banks, as
well as commercial paper. The Fund may invest in foreign obligations. Foreign
obligations are obligations (limited to commercial paper and other notes) issued
or guaranteed by a foreign government or other entity located or organized in a
foreign country that maintains a debt rating in the highest short-term rating
category by at least two nationally recognized statistical rating organizations
("NRSROs") or, if only one NRSRO has rated such debt, then by that NRSRO (or, if
unrated, determined by PNC Capital Advisors, LLC (the "Adviser") to be of
comparable quality).

The Fund also may invest in obligations issued or guaranteed by agencies,
authorities, instrumentalities or sponsored enterprises of the U.S. government
and in repurchase agreements collateralized by, but not limited to, cash,
government obligations, eligible commercial paper or investment grade fixed
income securities and issued by financial institutions such as banks and
broker-dealers. Investment grade fixed income securities are securities rated in
one of the four highest rating categories by at least one NRSRO, or if unrated,
determined by the Adviser to be of comparable quality. High quality money market
instruments are securities that present minimal credit risks as determined by
the Adviser and generally include securities that are rated at the time of
purchase by at least two NRSROs or, if only one NRSRO has rated such securities,
then by that NRSRO, in the highest rating category for such securities, and
certain securities that are not rated but are of comparable quality as
determined by the Adviser.

As a money market fund, the Fund invests only in instruments with remaining
maturities of 397 days or less as determined under Rule 2a-7 of the Investment
Company Act of 1940, including variable and floating rate obligations with
longer maturities that are deemed to have remaining maturities of 397 days or
less in accordance with Rule 2a-7 due to interest rate resetting provisions
and/or demand features. The Fund's dollar-weighted average maturity will not
exceed 60 days and the Fund's dollar-weighted average life will not exceed 120
days.

PRINCIPAL RISKS

Counter-Party Risk. If the other party to a repurchase agreement defaults on its
obligation under the agreement, the Fund may suffer delays, incur costs and/or
lose money in exercising its rights under the agreement. If the seller fails to
repurchase the security and the market value of the security declines, the Fund
may lose money.

Credit Risk. The values of debt securities or other instruments may be affected
by the ability of issuers or the respective counterparties to make principal and
interest payments or otherwise meet their obligations to the Fund. If an issuer
cannot or will not meet its payment obligations or if its credit rating is
lowered or its financial strength deteriorates, the values of its debt
securities or other instruments may fall. Obligations issued by U.S. government
agencies, authorities, instrumentalities or sponsored enterprises, such as the
Government National Mortgage Association, are backed by the full faith and
credit of the U.S. Treasury, while obligations issued by others, such as the
Federal National Mortgage Association, the Federal Home Loan Mortgage
Corporation and Federal Home Loan Banks, are backed solely by the ability of the
entity to borrow from the U.S. Treasury or by the entity's own resources.

Foreign (Non-U.S.) Investment Risk. Investments in securities of foreign companies,
including foreign banks or foreign branches of U.S. banks, or governments can be
more volatile than investments in U.S. companies or governments. Diplomatic,
political, or economic developments, including nationalization or expropriation,
could affect investments in foreign countries. Foreign securities markets generally
have less trading volume and less liquidity than U.S. markets. In addition, the
values of securities denominated in foreign currencies, and of dividends from such
securities, can change significantly when foreign currencies strengthen or weaken
relative to the U.S. dollar. Foreign issuers or governments generally are not subject
to uniform accounting, auditing, and financial reporting standards comparable to
those applicable to domestic U.S. companies or governments. Transaction costs are
generally higher than those in the U.S. and expenses for custodial arrangements of
foreign securities may be somewhat greater than typical expenses for custodial
arrangements of similar U.S. securities.

Government Securities Risk. Investments in certain U.S. government securities
may not be supported by the full faith and credit of the U.S. government.
Accordingly, no assurance can be given that the U.S. government will provide
financial support to U.S. government agencies, instrumentalities or sponsored
enterprises if it is not obligated to do so by law. The maximum potential
liability of the issuers of some U.S. government securities held by the Fund may
greatly exceed their current resources, and it is possible that these issuers
will not have the funds to meet their payment obligations in the future. In such
a case, the Fund would have to look principally to the agency, instrumentality
or sponsored enterprise issuing or guaranteeing the security for ultimate
repayment, and the Fund may not be able to assert a claim against the U.S.
government itself in the event the agency, instrumentality or sponsored
enterprise does not meet its commitment. Concerns about the capacity of the U.S.
government to meet its obligations may raise the interest rates payable on its
securities, negatively impacting the price of such securities already held by
the Fund.

Interest Rate Risk. The value of a debt security typically changes in the
opposite direction from a change in interest rates. When interest rates go up,
the value of a debt security typically goes down. When interest rates go down,
the value of a debt security typically goes up. Generally, the longer the
maturity or duration of a debt security (or a portfolio of such securities), the
more the value of that security (or portfolio of securities) will change as a
result of changes in interest rates.

Money Market Fund Risk. A Fund's ability to maintain a $1.00 per share net asset
value ("NAV") at all times could be affected by a sharp rise in interest rates
causing the value of a Fund's investments and its share price to drop, a drop in
interest rates that reduces the Fund's yield or the downgrading or default of
any of the Fund's holdings. The Adviser and its affiliates are under no obligation
to support the share price of the Fund. The failure of any money market fund to
maintain a stable net asset value could create a widespread risk of increased
redemption pressures on all money market funds, including the Fund, potentially
jeopardizing the stability of their net asset values. In general, certain other
money market funds have in the past failed to maintain stable net asset values
and there can be no assurance that such failures and resulting redemption pressures
will not impact the Fund in the future. The Securities and Exchange Commission
("SEC") recently adopted amendments to its rules relating to money market funds.
Among other changes, the amendments impose more stringent average maturity limits,
higher credit quality standards and new liquidity requirements on money market funds.
Although these amendments are designed to reduce the risks associated with investments
in money market funds, they also may reduce a money market fund's yield potential. The
SEC or other regulatory authorities may adopt additional reforms to money market
regulation, which reforms may impact the operations and performance of the Fund.

Municipal Obligations Risk. An investment in municipal obligations is subject to
municipal securities risk. Changes in the local or national economy, and
business or political conditions relating to a particular municipal project,
municipality, or state in which the Fund invests may make it difficult for the
municipality to make interest and principal payments when due and thus could
decrease the value of the Fund's investments in municipal bonds. Municipal
obligations also may be more susceptible to downgrades or defaults during
recessions or similar periods of economic stress, which could have an adverse
effect on the market prices of bonds and thus the value of the Fund's
investments. The municipal securities held by a Fund may fail to meet certain
legal requirements which allow interest distributed from such securities to be
tax-exempt, or changes in federal or state tax laws may cause the prices of
municipal securities to fall or could affect the tax-exempt status of municipal
securities. Municipal securities are also subject to liquidity risk.

All investments are subject to inherent risks, and an investment in the Fund is
no exception. Your investment in the Fund is not a bank deposit and is not insured
or 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.

PERFORMANCE INFORMATION

The bar chart and the performance table below provide some indication of the
risks of investing in the Fund by showing changes in the performance of the
Fund's Class I Shares from year to year. The performance table measures
performance in terms of the average annual total returns of the Fund's Class I
Shares. As with all mutual funds, the Fund's past performance does not predict
the Fund's future performance. Updated information on the Fund's performance can
be obtained by visiting
http://pncfunds.com/Funds_Performance/Fund_Snapshot/FundID_347/Overview.fs or by
calling 1-800-622-FUND (3863). The Fund's 7-day yield as of December 31, 2011
was 0.07%.

Calendar Year Total Returns

Best Quarter        1.27%   (12/31/06)      
Worst Quarter       0.01%   (9/30/11)       
  
The Fund's year-to-date total return for Class I Shares through June 30, 2012
was 0.02%.

AVERAGE ANNUAL TOTAL RETURNS (For the periods ended December 31, 2011)

Average Annual Total Returns	1 Year	5 Years	10 Years
PNC MONEY MARKET FUND CLASS I	0.05%	1.53%	1.85%