POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS,  that Maurice J. DeWald constitutes and appoints
John Y. Keffer, Beth P. Hanson,  Leslie K. Klenk, Robert J. Zutz, and R. Darrell
Mounts and each of them to act severally as  attorneys-in-fact  and agents, with
full power of substitution  and  resubstitution,  for the undersigned in any and
all  capacities to sign the  Registration  Statement of Monarch  Funds,  and any
amendments  thereto,  on Form  N-1A or Form  N-14,  and to file the  same,  with
exhibits  thereto,  and  other  documents  in  connection  therewith,  with  the
Securities  and Exchange  Commission,  hereby  ratifying and confirming all that
said attorneys-in-fact,  and their substitute or substitutes, may do or cause to
be done by virtue hereof.



                                                /S/ MAURICE J. DEWALD
                                                --------------------------------
                                                Maurice J. DeWald

Dated:  March 21, 2003





                                POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS, that Rudolph I. Estrada constitutes and appoints
John Y. Keffer, Beth P. Hanson,  Leslie K. Klenk, Robert J. Zutz, and R. Darrell
Mounts and each of them to act severally as  attorneys-in-fact  and agents, with
full power of substitution  and  resubstitution,  for the undersigned in any and
all  capacities to sign the  Registration  Statement of Monarch  Funds,  and any
amendments  thereto,  on Form  N-1A or Form  N-14,  and to file the  same,  with
exhibits  thereto,  and  other  documents  in  connection  therewith,  with  the
Securities  and Exchange  Commission,  hereby  ratifying and confirming all that
said attorneys-in-fact,  and their substitute or substitutes, may do or cause to
be done by virtue hereof.




                                                /S/ RUDOLPH I. ESTRADA
                                                --------------------------------
                                                Rudolph I. Estrada

Dated:  March 21, 2003





                                POWER OF ATTORNEY

KNOW ALL MEN BY THESE  PRESENTS,  that John Y. Keffer  constitutes  and appoints
Beth P. Hanson,  Leslie K. Klenk, Robert J. Zutz, and R. Darrell Mounts and each
of them to act  severally as  attorneys-in-fact  and agents,  with full power of
substitution and  resubstitution,  for the undersigned in any and all capacities
to sign the  Registration  Statement of Monarch Funds on Form N-1a or Form N-14,
and to file the same, with exhibits  thereto,  and other documents in connection
therewith,  with the Securities and Exchange  Commission,  hereby  ratifying and
confirming all that said attorneys-in-fact, and their substitute or substitutes,
may do or cause to be done by virtue hereof.

                                                /S/ JOHN Y. KEFFER
                                                --------------------------------
                                                John Y. Keffer

Dated:  March 21, 2003





                                POWER OF ATTORNEY

KNOW ALL MEN BY THESE  PRESENTS,  that  Christine M.  McCarthy  constitutes  and
appoints John Y. Keffer, Beth P. Hanson, Leslie K. Klenk, Robert J. Zutz, and R.
Darrell  Mounts  and  each of them to act  severally  as  attorneys-in-fact  and
agents, with full power of substitution and resubstitution,  for the undersigned
in any and all capacities to sign the  Registration  Statement of Monarch Funds,
and any  amendments  thereto,  on Form N-1a or Form N-14,  and to file the same,
with exhibits  thereto,  and other documents in connection  therewith,  with the
Securities  and Exchange  Commission,  hereby  ratifying and confirming all that
said attorneys-in-fact,  and their substitute or substitutes, may do or cause to
be done by virtue hereof.


                                                /S/ CHRISTINE M. MCCARTHY
                                                --------------------------------
                                                Christine M. McCarthy

Dated:  March 21, 2003





                                POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS,  that Robert M. Franko  constitutes and appoints
John Y. Keffer, Beth P. Hanson,  Leslie K. Klenk, Robert J. Zutz, and R. Darrell
Mounts and each of them to act severally as  attorneys-in-fact  and agents, with
full power of substitution  and  resubstitution,  for the undersigned in any and
all  capacities to sign the  Registration  Statement of Monarch  Funds,  and any
amendments  thereto,  on Form  N-1A or Form  N-14,  and to file the  same,  with
exhibits  thereto,  and  other  documents  in  connection  therewith,  with  the
Securities  and Exchange  Commission,  hereby  ratifying and confirming all that
said attorneys-in-fact,  and their substitute or substitutes, may do or cause to
be done by virtue hereof.


                                                /S/ ROBERT M. FRANKO
                                                --------------------------------
                                                Robert M. Franko

Dated:  March 21, 2003