EXHIBIT 17.1



                                      PROXY

   
                     FOR SPECIAL MEETING OF SHAREHOLDERS OF
                        LANCASTER NEBRASKA TAX-FREE FUND
                                May __, 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 May ____, 1999 and at any adjournment thereof.

   
          o    Proposal  to  approve  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.