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Asset Management Fund Adjustable Rate Mortgage ARM Portfolio Ranked no.1 by Lipper.

CHICAGO--(BUSINESS WIRE)--March 9, 1999--The Asset Management Fund's Adjustable Rate Mortgage (ARM) Portfolio has received the number one ranking in the Lipper Fixed Income Fund Performance Analysis Service for the five year period ending December 31, 1998. Lipper Analytical Services, Inc. is the leading provider of data analysis on the investment company business.

Shay Assets Management, Inc., the Fund's Advisor, reported 12 month total return for the ARM Portfolio of 5.14% and 5 year total return of 32.00% for the period ending December 31, 1998.

The Adjustable Rate Mortgage (ARM) Portfolio is designed specifically for financial institutions as an alternative to the difficult tasks of originating and managing an ARM portfolio. As the largest fund in its category, a growing number of diverse investors, including Trust Companies, Municipalities, Foundations, Not-for-Profit Organizations and Fee-Based Advisors have become shareholders.

The Portfolio's eligible investments consist primarily of high quality, adjustable-rate, mortgage-related securities which represent interests in mortgages on residential housing. The adjustable-rate feature of the mortgages underlying the Portfolio's investments will generally reduce the price volatility of these securities.

For more information on the Asset Management Fund, Inc., including the Adjustable Rate Mortgage (ARM) Portfolio, contact the Fund's distributor, Shay Financial Services, Inc., at 800-982-1846 or on the Web at www.amffunds.com.

The information provided by Lipper Analytical is a mutual fund comparison ranked by 12 month, 5 year and 10 year total return. For comparison purposes the portfolios of the Asset Management Fund have been placed with those mutual funds of similar investment objectives. The Lipper Analytical Adjustable Rate Mortgages Funds in the comparison generally invest at least 65% of assets in adjustable rate mortgage securities collateralized by or representing an interest in mortgages. The inception date of the Portfolio is 9/18/91. SEC standardized performance data as of December 31, 1998. Average annual total rates of return: 1-year 5.14%, 5-year 5.71%, Since inception 5.44%.

Performance is historical and does not represent future results. for complete information on the Fund and to obtain a prospectus, call the Fund's distributor, Shay Financial Services, Inc. at 1-800-982-1846. The prospectus includes complete information including fees and expenses. Read the prospectus carefully before investing or forwarding funds. Shay Financial Services, Inc. is a NASD and SIPC member.
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Publication:Business Wire
Geographic Code:1USA
Date:Mar 9, 1999
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