An investment in mutual funds is subject to market fluctuations and the possible loss of principal.  You should consider the investment objectives, risks and charges and expenses of the investment company carefully before investing.  Please read the prospectus, which contains this and other information about the investment company, carefully before you invest.  To obtain a free paper copy of the prospectus, you may contact your Registered Representative, write to SM&R at 2450 South Shore Blvd., Suite 400, League City, TX 77573 or call (800) 231-4639.

Past performance cannot guarantee future results.  Fund share prices, yields and returns vary and you may have a gain or loss compared to your cost basis when you decide to sell you shares.

Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.

The information contained on this Website is not an offer to sell or solicitation to buy any security.  No security is offered or will be sold in any jurisdiction in which such offer or solicitation, purchase or sale would be unlawful under the securities or other laws of the jurisdiction.  Some products and services may not be available in all states.  The SM&R Mutual Funds are distributed by Securities Management and Research, Inc., 2450 South Shore Blvd., League City, Texas 77573, (281) 334-2469, Member FINRA, SIPC, through prospectus only.

ON-LINE PRIVACY

SM&R understands that many of you have concerns about maintaining your anonymity and protecting your privacy while accessing this Website.  SM&R is as concerned as you are about the privacy of any personal information that you may provide to us through this Website.  When you visit this Website, you are not required to provide any personal information on the public area of this Website unless you choose to do so.  We will not transfer your personal information to anyone outside of SM&R for commercial purposes.

COPYRIGHT

This Website is owned and operated by SM&R.  Permission is granted to display and navigate around this Website with a computer using HTML browser software, solely for personal, non-commercial use.  Any commercial or public use of this Website or any portion thereof is strictly prohibited.  SM&R maintains all copyrights of the text, graphic images and logos contained in this Website.  This information is provided for the personal viewing of our readers and may not be distributed, reproduced, transmitted, modified, or used in any way without the prior written consent of SM&R.

UNAUTHORIZED COPYING, REPRODUCTION, REPUBLISHING, UPLOADING, DOWNLOADING, POSTING, TRANSMITTING OR DUPLICATING OF ANY OF THE MATERIAL IS PROHIBITED.

Inquiries concerning the use of SM&R's trademarks, names, logos, icons, copyrights or other intellectual property should be addressed to:

Securities Management and Research, Inc.
Compliance Department
P.O. Box 58969
Houston, Texas 77258-8969

All other copyrights and trademarks cited on this Website are the property of their respective owners.

LIMITATION OF LIABILITY

The information (including text, graphics, and functionality) is presented without express or implied warranties and is provided "AS IS".  Due to the nature of the Internet, SM&R cannot guarantee the accuracy of the information contained in this Website or its suitability for any purpose.

SM&R also assumes no responsibility, and shall not be liable for, any damages to, or viruses that may infect, your computer equipment or other property on account of your access to, use of, or browsing in the Website or your downloading of materials, data, text, images, video, or audio from this Website.

Links to other Internet sites ("hyperlinks") are included as a convenience for our visitors.  SM&R assumes no liability for the content or presentation of linked sites.

Thank you for visiting SM&R's Website.