Investment Risks - WP Large Cap Income Plus Fund
|
Mar. 27, 2026 |
| Market risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Market risk –Market risk refers to the risk that the value
of securities in the Fund’s portfolio may decline due to daily fluctuations in the securities markets, including fluctuation in
interest rates, national and international economic conditions and general equity market conditions. |
|
| Dividend strategy risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
·
Dividend strategy risk – There can be no assurances that the Advisor will be able to
correctly anticipate the level of dividends that companies will pay in any given timeframe. If the Advisor’s expectations as to
potential dividends are wrong, the Fund’s performance may be adversely affected.
|
| Management style risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Management style risk – To the extent the Fund focuses on a
particular style of stocks, such as growth or value, its performance may at times be better or worse than that of similar funds with other
focuses or that have a broader investment style. |
|
| Large company risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Large company risk – The Fund will invest in larger, more established
companies, which may be unable to respond quickly to new competitive challenges such as changes in consumer tastes or innovative smaller
competitors. Also, large companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during
extended periods of economic expansions. |
|
| Interest Rate Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Interest rate risk – Increases in interest rates typically
lower the present value of a company’s future earnings stream. Accordingly, stock prices will generally decline when investors anticipate
or experience rising interest rates. |
|
| Issuer risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Issuer risk – The value of an individual security or particular
type of security can be more volatile and thus perform differently than the market as a whole. |
|
| Equity risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Equity risk – Equity risk is the risk that securities held
by the Fund will fall due to general market or economic conditions, perceptions regarding the industries in which the issuers of securities
held by the Fund participate, and the particular circumstances and performance of those companies whose securities the Fund holds. |
|
| Shares of other investment companies and ETFs risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Shares of other investment companies and ETFs risk – You will
indirectly bear fees and expenses charged by the underlying funds in which the Fund may invest in addition to the Fund’s direct
fees and expenses and, as a result, your cost of investing in the Fund will generally be higher than the cost of investing directly in
the underlying fund shares. Investments in ETFs bear the risk that the market price of the ETF’s shares may trade at a discount
to their net asset value or that an active trading market for an ETF’s shares may not develop or be maintained. The Fund may place
otherwise uninvested cash in money market mutual funds. |
|
| Sector Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Sector Risk—The Fund may, at times, have significant investments
in the securities of issuers in industries within a particular sector, any development affecting that sector will have a greater impact
on the value of the net assets of the Fund than would be the case if the Fund did not have significant investments in that sector. In
addition, this may increase the risk of loss of an investment in the Fund and increase the volatility of the Income Fund’s NAV per
share. From time to time, circumstances may affect a particular sector and the companies within such sector. For instance, economic or
market factors, regulation or deregulation, and technological or other developments may negatively impact all companies in a particular
sector and therefore the value of the Fund’s portfolio will be adversely affected. As of the Fund’s latest fiscal year end,
it had 38.65% of the value of its net assets invested in stocks within the Information Technology sector, and 37.57% of the value of its
net assets invested in stocks within the Financials sector. |
Information Technology Companies Risk.
Information technology companies are generally subject to the following risks: rapidly changing technologies; short product life cycles;
fierce competition; aggressive pricing and reduced profit margins; the loss of patent, copyright and trademark protections; cyclical market
patterns; evolving industry standards; and frequent new product introductions. Information technology companies may be smaller and less
experienced companies, with limited product lines, markets or financial resources and fewer experienced management or marketing personnel.
Information technology company stocks have experienced extreme price and volume fluctuations that are often unrelated to their operating
performance.
Financial Companies Risk. Financial
companies, such as retail and commercial banks, insurance companies and financial services companies, are especially subject to the adverse
effects of economic recession, currency exchange rates, extensive government regulation, decreases in the availability of capital, volatile
interest rates, portfolio concentrations in geographic markets, industries or products (such as commercial and residential real estate
loans) and competition from new entrants and blurred distinctions in their fields of business.
|
| Options risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Options risk – Purchasing and selling put and call options are highly specialized activities
and entail greater than ordinary investment risks. The successful use of options depends in part on the ability of the Advisor to manage
future price fluctuations and the degree of correlation between the options and securities (or currency) markets. By selling put options
on equity securities, the Fund gives up the opportunity to benefit from potential increases in the value of |
the underlying securities above the strike
prices of the sold put options, but continues to bear the risk of declines in the value of underlying securities held by the Fund. The
Fund will receive a premium from the purchaser of a covered call option sold by the Advisor, which it retains whether or not the option
is exercised. The premium received from the sold options may not be sufficient to offset any losses sustained from the volatility of the
underlying equity securities over time.
|
| Limits on option selling risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Limits on option selling risk – The number of call options
the Fund can sell is limited by the number of shares of common stock or ETFs or other securities the Fund holds and is further subject
to limitations established by each of the exchanges, boards of trade or other trading facilities on which such options are traded. |
|
| Options strategy risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Options strategy risk – The Fund’s option strategy consists
of selling and purchasing put and call options on equity indexes and ETFs. The sale of put options generates income for the Fund but exposes
it to the risk of declines in the value of the underlying assets. The risk in purchasing options is limited to the premium paid by the
Fund for the options. The sale of call options generates income for the Fund but may limit the Fund's participation in equity market gains. |
|
| Derivatives risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Derivatives risk – The use of derivatives can lead to losses
because of adverse movements in the price. Losses may also occur because the value of the asset, index, rate or instrument underlying
a derivative loses value, or due to failure of a counterparty or due to tax or regulatory constraints. Derivatives may create economic
leverage in the Fund, which magnifies the Fund’s exposure to the underlying investment. The loss on derivative transactions may
significantly exceed the initial investment. |
|
| Transaction cost risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Transaction cost risk – Transaction costs refer to the
charges that are associated with buying and selling securities for the Fund. As a result of the Fund’s options strategy, the Fund
may incur higher brokerage and transactional related charges than those associated with an average equity fund. These transaction costs
increase the cost of your investment in the Fund. |
|
| General fund investing risk |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | General fund investing risk – The Fund is not a complete investment
program and you may lose money by investing in the Fund. All investments carry a certain amount of risk and there is no guarantee that
the Fund will be able to achieve its investment objective. Additionally, unexpected local, regional or global events, such as war; acts
of terrorism; financial, political or social disruptions; natural, environmental or man-made disasters; the spread of infectious illnesses
or other public health issues (such as COVID-19); and recessions and depressions could have a significant impact on the Fund and its investments
and may impair market liquidity. Such events can cause investor fear, which can adversely affect the economies of nations, regions and
the market in general, in ways that cannot necessarily be foreseen. |
|
| Risk Lose Money [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
An
investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested.
|