MH Elite

About MH Elite Why Invest with MH Elite Funds Fund Overviews MH Elite Small Cap Fund of Funds MH Elite Fund of Funds MH Elite Select Portfolio of Funds

Applications and Forms Prospectus Privacy Notice

2009 Semi-Annual Report 2008 Annual Report 2008 Proxy Statement

MH Elite Fund of Funds

Investment Goal

MH Elite Fund of Funds seeks to achieve its investment objective of long term capital appreciation by investing in 10 to 25 mid and large cap funds.

Portfolio Manager

Harvey Merson

A Registered Investment Adviser, Harvey Merson has over 27 years of experience in analyzing and researching mutual funds.

Portfolio Holdings
As of May 31, 2010

Fund Name	% of Fund Assets
Fairholme	7.0%
Amana Growth	6.1%
Parnassus	5.8%
Primecap Odyssey Growth	5.7%
Amana Income	5.6%
Janus Contrarian J	5.5%
Mainstay ICAP Select Equity I	5.5%
Schneider Value	5.2%
Artisan Mid Cap Value	5.1%
BB&T Equity Income I	5.1%
Wasatch First Source Income Equity	5.1%
BlackRock US Opportunities I	5.0%
Columbia Value and Restructuring Z	4.9%
Fidelity Leveraged Company Stock	4.9%
American Funds Fundamental Inv F2	4.8%
Dodge & Cox Stock	4.7%
Wells Fargo Advantage Growth	4.7%
Aston/Optimum Mid Cap N	4.5%
Fidelity Select Consumer Staples	2.7%
Short-Term Securities and Other Assets	2.1%

Fund Data
Ticker Symbol	MHEFX
CUSIP	55302C201
Minimum Investment	$ 10,000
Subsequent Investment	$ 1,000
Sales Charge	None
Redemption Fee	None
Expense Ratio	1.25%

Net Asset Value
As of July 30, 2010
Share Price	$ 4.51
Change	$ 0.00

Distributions
Issued on December 31, 2008
ST Capital Gain	$ 0.002979
LT Capital Gain	$ 0.010511

Issued on December 28, 2007
ST Capital Gain	$ 0.113621
LT Capital Gain	$ 0.420569

Issued on December 29, 2006
ST Capital Gain	$ 0.026427
LT Capital Gain	$ 0.269614

Fund Performance
As of June 30, 2010
Year to Date	- 7.0%
Average Annual Returns
1 Year	12.2%
3 Years	- 10.8%
5 Years	- 1.7%
10 Years	N/A
Since Inception (1/13/2004)	0.1%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. For performance data current to the most recent month end, please click on the individual fund name on the menu titled MH Elite Funds or call 1-800-318-7969. Holdings are subject to change. All returns for periods greater than one year are annualized. All year-to-date returns are cumulative.

The funds offered by MH Elite Portfolio of Funds are available to U.S. investors only and may not be available in all states. To determine if these Funds are an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors and charges and expenses before investing. This and other information can be found in the Fund's prospectus which may be obtained by clicking here or by calling 1-800-318-7969. Please read the prospectus carefully before investing. Mutual fund investing involves risk, including the possible loss of principal.