PNC INTERNATIONAL EQUITY FUND (Second Prospectus Summary) | PNC INTERNATIONAL EQUITY FUND

PNC INTERNATIONAL EQUITY FUND

INVESTMENT OBJECTIVE

The Fund seeks to provide long-term capital appreciation.

FUND FEES AND EXPENSES

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

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees	PNC INTERNATIONAL EQUITY FUND CLASS I
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	none
Maximum Deferred Sales Charge (Load) (as a percentage of net asset value)	none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions (as a percentage of offering price)	none
Redemption Fee (as a percentage of amount redeemed, if applicable)	none
Exchange Fee	none

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

Annual Fund Operating Expenses		PNC INTERNATIONAL EQUITY FUND CLASS I
Management Fees		1.00%
Distribution (12b-1) Fees		none
Other Expenses		0.23%
Acquired Fund Fees and Expenses	[1]	0.01%
Total Annual Fund Operating Expenses		1.24%

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 INTERNATIONAL EQUITY FUND CLASS I	126	393	681	1,500

PORTFOLIO TURNOVER

The Fund pays transaction costs, such as commissions, 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 31%
of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

The Fund primarily invests in equity securities that are tied economically to a
number of countries throughout the world. The Fund will limit investments in
securities of issuers in countries with developing markets (non-Morgan Stanley
Capital International Europe, Australasia, Far East ("MSCI EAFE Index")) or
economies to no more than 25% of the Fund's total assets, and will not invest
more than 10% of its total assets in any single such country. More than 25% of
the Fund's assets may be invested in the equity securities of issuers located in
the same country.

Under normal circumstances, the Fund invests at least 80% of its net assets plus
any borrowings for investment purposes in equity securities. The Fund will
provide shareholders with at least 60 days' written notice before changing this
80% policy. The Fund may invest in companies of any capitalization.

The Fund's investments in equity securities may include common stocks, American
Depositary Receipts or other U.S. listings of foreign common stocks, and
exchange traded funds, closed-end funds or stock index futures whose underlying
value is derived from common stocks in foreign markets.

The Fund may use exchange traded funds, closed-end funds and derivative
instruments, combined with investments in money market securities and forward
currency agreements, to gain broad exposure to markets and/or a particular
index. Derivative instruments include, but are not limited to, options, swaps,
futures and options on futures. Although the Fund may invest in derivatives of
any kind, it expects to use futures contracts and options on futures contracts
for the purpose of managing exposure to the securities markets or to movements
in interest rates or currency values. The Fund may also use futures to gain
diversified exposure to a specific country or region. These instruments are not
used for the purpose of introducing leverage in the Fund, though they may have
that result. The Fund may use derivatives as a substitute for taking a position
in an underlying asset, to increase returns, to manage risk, or as part of a
hedging strategy.

PNC Capital Advisors, LLC (the "Adviser") has delegated to Polaris Capital
Management, LLC ("Polaris" or the "Sub-Adviser") and GE Asset Management
Incorporated ("GEAM" or the "Sub-Adviser") the responsibility for providing
portfolio management services to a portion of the Fund's assets. The Adviser has
allocated the Fund's assets among a growth strategy ("International Growth
Component"), value strategy ("International Value Component") and a core
strategy ("International Core Component"). The Adviser manages the International
Growth Component. Polaris and GEAM furnish investment advisory services to the
International Value Component and International Core Component, respectively.
The Adviser monitors the performance of Polaris and GEAM and, at any point, the
Adviser could change the allocation of the Fund's assets between itself, Polaris
and GEAM on a basis determined by the Adviser to be in the best interest of
shareholders. This means that the portion of the assets managed by the Adviser
could be significantly larger than that managed by Polaris and GEAM or vice versa
and that the difference between such proportions could change from time to time.
The Fund also utilizes an active trading approach.

PRINCIPAL RISKS

Active Trading Risk. To the extent that the Fund buys and sells securities
actively, it could have higher expenses (which reduce return for shareholders)
and higher taxable distributions.

Capitalization Risk. Small capitalization companies may be more vulnerable to
adverse business or economic events than larger, more established companies.
Therefore, small cap stocks may be more volatile than those of larger companies
and may have less liquidity, which can reduce their selling prices. Mid
capitalization companies may be more vulnerable to adverse business or economic
events than larger, more established companies. As a result, the values of mid
cap company stocks may be more volatile than those of larger companies.

Country Risk. Investment in a particular country of 25% or more of the Fund's
total assets will make the Fund's performance more dependent upon the political
and economic circumstances of that country than a mutual fund more widely
diversified among issuers in different countries.

Derivatives Risk. Derivatives are financial instruments whose values depend
upon, or are derived from, the value of a reference asset, such as one or more
underlying assets, indexes or currencies and may include, but are not limited
to, options, swaps, futures and options on futures. A small investment in
derivatives could have a potentially large impact on the Fund's performance. The
use of derivatives involves risks different from the risks associated with
investing directly in the reference asset. Derivatives can be volatile, illiquid
and difficult to value, and an imperfect correlation may exist between changes
in the value of a derivative held by the Fund and the value of the reference
asset. Some derivatives are "leveraged" and therefore magnify or otherwise
increase investment losses to the Fund. The Fund's use of derivatives may also
increase the amount of taxes payable by shareholders. In addition, there is also
the risk that a Fund may be unable to terminate or sell a derivatives position.
There is also the risk that derivative counterparties may suffer financial
difficulties and may not fulfill their contractual obligations to the Fund.

Emerging Markets Risk. The risk of investing in issuers located in or tied
economically to emerging markets includes all of the risks of investing in
foreign markets, generally to a greater extent, including greater fluctuations
in market values and currency exchange rates; increased risk of default; greater
social, economic, and political uncertainty and instability; increased risk of
nationalization, expropriation, or other confiscation of assets of issuers to
which the Fund may be exposed; greater governmental involvement in the economy;
less governmental supervision and regulation of the securities markets and
participants in those markets; controls on non-U.S. investment, capital controls
and limitations on repatriation of invested capital, dividends, interest and
other income and on the Fund's ability to exchange local currencies for U.S.
dollars; lower levels of liquidity; inability to purchase and sell investments
or otherwise settle security or derivative transactions; greater risk of issues
with share registration and safe custody; unavailability of currency hedging
techniques; differences in, or lack of, auditing and financial reporting
standards and resulting unavailability of material information about issuers;
slower clearance and settlement; and difficulties in obtaining and/or enforcing
legal judgments.

Foreign (Non-U.S.) Investment Risk. Investments in securities of foreign
companies 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
companies 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.

Growth Investing Risk. Growth stocks are generally more sensitive to market
movements than other types of stocks primarily because their stock prices are
based heavily on future expectations. If the Adviser's or Sub-Adviser's
assessment of the prospects for a company's growth is wrong, or if the Adviser's
or Sub-Adviser's judgment of how other investors will value the company's growth
is wrong, then the price of the company's stock may fall or not approach the
value that the Adviser or Sub-Adviser has placed on it. In the event an issuer
is liquidated or declares bankruptcy, the claims of owners of the issuer's bonds
and preferred stock generally take precedence over the claims of those who own
common stock.

Investment Company Risk. The Fund may invest in shares of other investment
companies, including ETFs. To the extent that the Fund invests in shares of
another investment company or ETF, investors bear their proportionate share of
the expenses of the underlying investment company or ETF. ETFs and closed-end
investment companies may trade at a price below their net asset value.

Market Risk. Market risk is the risk that securities prices will fall over short
or extended periods of time. Historically, the stock markets have moved in
cycles, and the value of the Fund's securities may fluctuate from day to day.
Individual companies may report poor results or be negatively affected by industry
and/or economic trends and developments. The prices of securities issued by such
companies may decline in response.

Value Investing Risk. Value stocks can perform differently from the market as a
whole and from other types of stocks. Value stocks also present the risk that
their lower valuations fairly reflect their business prospects and that
investors will not agree that the stocks represent favorable investment
opportunities, and they may fall out of favor with investors and underperform
growth stocks during any given period. In the event an issuer is liquidated or
declares bankruptcy, the claims of owners of the issuer's bonds and preferred
stock generally take precedence over the claims of those who own common stock.

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. Accordingly, you may 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 and by showing how the average annual
returns of the Fund's Class I Shares compare with those of a broad measure of
market performance. As with all mutual funds, the Fund's past performance
(before and after taxes) 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_229/Overview.fs or by
calling 1-800-622-FUND (3863).

Calendar Year Total Returns

Best Quarter         29.75%   (6/30/09)     
Worst Quarter       -23.52%   (12/31/08)    
  
The Fund's year-to-date total return for Class I Shares through June 30, 2012
was 6.64%.

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

Average Annual Total Returns PNC INTERNATIONAL EQUITY FUND	Label		1 Year	5 Years	10 Years
CLASS I	Class I Shares Returns Before Taxes		(15.11%)	(3.46%)	4.27%
CLASS I After Taxes on Distributions	Class I Shares Returns After Taxes on Distributions	[1]	(15.28%)	(3.53%)	4.13%
CLASS I After Taxes on Distributions and Sales	Class I Shares Returns After Taxes on Distributions and Sale of Fund Shares	[1]	(9.59%)	(2.80%)	3.76%
MSCI EAFE Index	MSCI EAFE Index (reflects no deduction for fees, expenses or taxes)		(12.14%)	(4.72%)	4.67%

[1] "Acquired Fund" means any investment company in which the Fund invests or has invested during the period. The "Total Annual Fund Operating Expenses" will not correlate to the Fund's ratio of expenses to average net assets in the Fund's Financial Highlights, which reflects the operating expenses of the Fund and does not include "Acquired Fund Fees and Expenses."

[1] After-tax returns are calculated using the historical 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. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. In some cases, returns after taxes on distributions and sale of Fund shares may be higher than returns before taxes because the calculations assume the investor received a tax deduction for any loss incurred on the sale of shares.