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Purchase

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Fund Details
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Purchase

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Details
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Holdings
Documents
Purchase

Summary
Details
Performance
Holdings
Documents
Purchase

Fund Documents

Prospectus Summary Prospectus SAI Fact Sheet 19-A Notice

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Fund Details
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Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (888) 831-8231. Read the prospectus or summary prospectus carefully before investing.

Investing involves risk. Principal loss is possible.

The Fund’s options positions have speculative characteristics and the potential for loss is substantial, despite being reduced by the amount of premium received for selling the options. The maximum gain in strangle positions is limited, and occurs if the Underlying Security upon which a strangle position is implemented remains between the upper (call) and lower (put) strike prices. In that case, both options expire worthless and the investor (the Fund) pockets the premium received for selling the options. There can be no guarantee that actions taken by the Sub-Adviser to mitigate the potential risks associated with its Options Strategy will be successful in preventing Fund losses, which could be substantial.

There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.

Options Strategy Transactions Risk. The Options Strategy pursued by the Fund involves selling put options that are not covered (also called “naked options”) and selling call options coupled with a short call spread. When the Fund sells an uncovered put option, it does not simultaneously own the Underlying Security.

Aggressive Investment Technique Risk. The Fund uses investment techniques considered to be aggressive, including the use of leverage and uncovered options.

Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

Liquidity Risk. Some portfolio investments held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

Foreign Securities Risk. Investments in securities or other instruments of non-U.S. issuers involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies.

Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates.

Definitions

Put options: A put option is a financial contract that gives the buyer the right, but not the obligation, to sell an underlying asset at a specified price within a specific timeframe.

Call options: A call option is a financial contract giving the buyer the right, but not the obligation, to purchase an underlying asset at a specified price within a specific timeframe.

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