The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

THE UNITED GROUP OF FUNDS All Fees Deducted Average Annual Value to Compound o o Dec 31 Rale of Fund 1978 1979 1982 1983 19B4 1985 1986 Return 3 7 386 26 17 201 1 23 S39 176 36 16 5 IrxUisltnl Pit pi 26 268 16 2 Indusl Ml Equity 10 159 He 0 HI 9 1 9 144 TSE 39 lb 0 281 139 Cold a 45 2 14 5 Compounded Comparison 12 12 12 12 12 120 1 Cnnadiin Gas 2 78 Source Financial Times Funds Survey