Investment Objective
Investment Strategy
Who May Want to Invest?
Performance Update
About the Investment Advisor
Portfolio Holdings
Miscellaneous

Investment Objective
The fund seeks growth of capital. To purse this goal, the fund invests primarily in other mutual funds that are not affiliated with the fund.

Investment Strategy
The Flex-funds Aggressive Growth Fund offers investors the opportunity to invest in some of the fastest-growing ar eas of the stock market, and the ability to diversify a long-term portfolio with a strategically managed "fund of funds".

The Fund employs a discipline of Strategic Fund Selection to identify the investment styles or market sectors that the Investment Advisor believes have the potential for strong returns in the current market environment. In exchange for greater potential returns, the Fund may involve greater risk and volatility than less aggressive equity funds. The Fund may concentrate its investments in a few market sectors or in a particular investment style, or may allocate a greater percentage of the Fund's portfolio to a single fund or sector, if the Portfolio Manager believes a certain fund or sector may experience stronger growth relative to the broad equity market.

After identifying the styles or sectors with the best prospects for growth, the Portfolio Manager then seeks out the funds within the selected styles or sectors with the best potential for strong performance. The funds selected by the Portfolio Manager will often invest in s mall-cap or less established companies, or companies in newer or developing industries, which are more likely to experience rapid growth as well as significant losses than larger or more established companies or industries.

The Aggressive Growth Fund remains fully invested in the equity market during all cycles. The Fund is ideal for those investors with a long-term horizon, and a high tolerance for risk and fluctuations in investment value. The Aggressive Growth Fund can enhance a long-term portfolio for an investor seeking growth or looking for added diversification.

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Who May Want to Invest?
The Aggressive Growth Fund may be appropriate for you if:

• you are seeking long-term growth potential;
• you are seeking to maximize returns from an aggressive growth strategy that is invested in the stock market at all times;
• you are seeking to diversify your portfolio;
• you are investing with a long-term horizon.

The Aggressive Growth Fund may not be appropriate for you if:

• you are investing to meet short-term financial goals;
• you are unwilling to accept an investment that will go up and down in value.

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Performance Update

Past performance is not a guarantee of future results.
Performance data indicates period total returns as indicated and assumes reinvestment of all dividend and capital gain distributions. 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. Management fees were waived and/or expenses were reimbursed in order to reduce the operating expenses of The Aggressive Growth Fund for each period shown above. To obtain a prospectus containing more complete information about the Fund, including other fees and expenses that may apply to a continued investment in the Fund, you may call The Flex-funds at 800-325-3539, or write P.O. Box 7177, Dublin OH 43017. You may also download or request a prospectus by mail. Please read the prospectus carefully before investing.

* Inception date February 29, 2000

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About the Investment Advisor

Meeder Asset Management
Since 1974, Meeder Asset Management has managed investment port folios for individuals and institutions through mutual funds, retirement plans, and private investment accounts. Robert M. Wagner, CFA oversees the implementation of Meeder,s Strategic Fund Selection investment discipline for the Funds portfolios. Mr. Wagner has been a member of the Meeder Investment Management team since 1996, and brings expertise in equity market research and analysis to his responsibilities at Meeder.

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Portfolio Holdings as of December 31, 2005

Portfolio Holdings are subject to change.

For the most recent month-end schedules of complete portfolio holdings for all funds, click here.

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Ticker
FLAGX

Cusip
339370868

Inception Date
February 29, 2000

Distributions

Minimum Initial Investment

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