The gross expense ratio for Class A Shares is 1.35%. The Fund's Adviser has contractually agreed to limit the management fee paid by the Fund for the period February 1, 2010 through January 31, 2011. Had this waiver not been in effect, the performance would have been lower. The net expense ratio for Class A Shares is 0.95%.

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. 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 the original cost. To obtain performance information current to the most recent month end, please visit www.bbtfunds.com/funds/performance-summary.php.

The performance of the BB&T Short U.S. Government Fund reflects the deduction of fees for value-added services associated with a mutual fund, such as investment management and fund accounting fees. The inception date for Class A Shares is 11/30/92. The performance shown reflects the reinvestment of all dividend and capital gains distributions.