EXHIBIT 17.1



                                      PROXY

                     FOR SPECIAL MEETING OF SHAREHOLDERS OF
                        LANCASTER NEBRASKA TAX-FREE FUND
                                April ____, 1999


     The undersigned hereby appoints Thomas C. Smith and Colleen Avery, and each
of them,  proxies  for the  undersigned,  with  full  power of  substitution  to
represent  the  undersigned  and to vote all the  shares of  Lancaster  Nebraska
Tax-Free  Fund (the  "Lancaster  Fund") of SMITH HAYES  Trust,  Inc.,  which the
undersigned is entitled to vote at the Special  Meeting of  Shareholders  of the
Lancaster Fund to be held on April ____, 1999 and at any adjournment thereof.

          o    Proposal  to  approve  or  disapprove  a  reorganization  of  the
               Lancaster  Fund  providing for (i) the transfer of  substantially
               all of the assets and  liabilities  of the Lancaster  Fund to The
               Nebraska  Municipal  Fund  ("NMF"),  a separate  series of Ranson
               Managed  Portfolios,  in  exchange  for  shares  of NMF (the "NMF
               Shares") of equivalent  value,  (ii) the pro rate distribution of
               those NMF Shares to the  shareholders  of the  Lancaster  Fund in
               full  redemption of those  shareholders'  shares in the Lancaster
               Fund, and (iii) the immediate  liquidation and termination of the
               Lancaster  Fund,  all as described in the  accompanying  Combined
               Proxy Statement/Prospectus.


[      ]   FOR        [      ]   AGAINST             [      ]  ABSTAIN

And, in their discretion,  to transact any other business that may lawfully come
before the meeting or any adjournment(s) thereof.

     THIS PROXY IS  SOLICITED  ON BEHALF OF THE BOARD OF  DIRECTORS  AND WILL BE
VOTED AS YOU DIRECT ON THIS FORM.  IF NO DIRECTION IS GIVEN,  THIS PROXY WILL BE
VOTED FOR THE PROPOSAL.

                                                      Dated:
                         _____________________________, 1999


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                                               Signature of Shareholder


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                                              Signature of Shareholder

When shares are registered jointly in the names of two or more persons. ALL must
sign. Signature(s) must correspond exactly with the name(s) shown. Please, sign,
date and return promptly in the enclosed envelope.