Balanced Allocation FundPBLIXShare Class

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Overview Portfolio ~~Strategy / Process~~ Performance Team Fees

investment strategy / process

The PNC Balanced Allocation Fund seeks long-term capital appreciation and current income. Using a top-down approach to asset allocation, the Fund’s managers use proprietary models to determine broad market and sector allocations, while drawing on the team’s expertise to find the best investment opportunities in each marketplace. The fund intends to invest 45% to 75% of its net assets in equity securities, 20% to 55% in investment grade fixed income securities and up to 30% in cash, cash equivalent securities and short-term money market instruments. The Fund may also invest up to 25% of its total assets at the time of purchase in foreign securities and may also invest in the common stock of small cap companies.

Investment Risks

Asset allocation cannot guarantee a profit or prevent a loss. An investment in the Fund is subject to interest rate risk, which is the possibility that a Fund's yield will decline due to falling interest rates and the potential for bond prices to fall as interest rates rise. International investments are subject to special risks not ordinarily associated with domestic investments, including currency fluctuations, economic and political change and differing accounting standards that may adversely affect portfolio securities. Investments in small and mid capitalization companies present a greater risk of loss than investments in large companies. These risks may be heightened in emerging markets.

*Sector weightings and top ten holdings are subject to change, for illustrative purposes only and are not a permanent reflection of the fund.

Asset Allocation (%)

EQUITY	60.75
BOND	34.63
CASH EQUIVALENTS & OTHER	4.49

Asset Allocation weightings may not total 100%

Sector Weightings (%)*

Other Equity	13.25
Registered Investment Company	12.10
U.S. Government Agency	11.46
Corporate Bonds	10.01
Information Technology	9.92
U.S. Treasury	7.89
Financials	7.81
Industrials	6.26
Health Care	5.89
Consumer Discretionary	5.74
Other Bonds	5.41
Cash & Cash Equivalents	4.26

Monthly Morningstar
Ratings

Portfolio Management

	Edward A. Johnson, CFA Portfolio Manager, Large Cap Value
	Gordon A. Johnson Managing Director, Small Cap Core
	Mark McGlone Managing Director, Fixed Income
	Hitesh C. Patel, Ph.D. Managing Director, Structured Equity
	Douglas J. Roman, CFA, CMT Managing Director
	Martin C. Schulz, J.D. Managing Director, International Equity
	D. Andrew Shipman, CFA Portfolio Manager, Large Cap Value

Downloads

Fund Factsheet
Prospectus

NOT FDIC INSURED | NO BANK OR FEDERAL GOVERNMENT GUARANTEE | MAY LOSE VALUE

You should consider the investment objectives, risks, charges and expenses of the PNC Funds carefully before investing. A prospectus may be downloaded and viewed with this and other information about the Funds or may be obtained by contacting an investment professional or by calling 1-800-622-FUND (3863). Please read it carefully before you invest or send money.

PNC Capital Advisors, LLC, a subsidiary of The PNC Financial Services Group Inc., serves as investment adviser and co-administrator to PNC Funds and receives fees for its services. Shares of PNC Funds are distributed by Professional Funds Distributor, LLC (PFD), 760 Moore Road, King of Prussia, PA 19406. PFD is not affiliated with PNC and is not a bank.

©2010 The PNC Financial Services Group, Inc. All rights reserved.