Investment Risks - Beacon Dynamic Allocation Fund
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Jun. 24, 2026 |
| Prospectus [Line Items] |
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| Risk [Text Block] |
Remember that in addition
to possibly not achieving your investment goals, you could lose money by investing in the Fund. The following describes the principal
risks the Fund may bear directly and indirectly through ETFs.
| · | Alternative and Specialty Assets Risk:
The Fund may purchase ETFs that invest in “alternative asset” or “specialty” market segments. The risks and
volatility of these investments are linked to narrow segments of the economy such as commodities, real estate, or currencies. Inverse
ETFs limit the Fund’s participation in certain market gains. |
| · | Commodity Risk: Investing
in the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Commodity prices may
be influenced by unfavorable weather, animal and plant disease, geologic and environmental factors as well as changes in government regulation
such as tariffs, embargoes or burdensome production rules and restrictions. |
| · | Credit Risk: Debt issuers
may not make interest or principal payments, resulting in losses to the Fund. In addition, the credit quality of securities held by an
ETF may be lowered if an issuer’s financial condition changes. These risks are more pronounced for securities at the lower end of
the investment grade credit quality spectrum, such as those rated BBB- or lower by Standard & Poor’s Ratings Group or another
NRSRO. |
| · | Currency Risk
(Domestic and Foreign): The risk that material changes in currency exchange rates will negatively affect securities denominated in,
and/or receiving revenues in, foreign and domestic currencies. Currency trading risks include market risk, credit risk and country risk.
Market risk results from adverse changes in exchange rates in the currencies the Fund is long or short. Credit risk results because a
currency-trade issuer may default. Country risk arises because a government may interfere with transactions in its currency. |
| · | Emerging Market Risk: Investing
in emerging markets involves not only the risks described below with respect to investing in foreign securities, but also other risks,
including exposure to economic structures that are generally less diverse and mature, limited availability and reliability of information
material to an investment decision, and exposure to political systems that can be expected to have less stability than those of developed
countries. The market for the securities of issuers in emerging market typically is small, and a low or nonexistent trading volume in
those securities may result in a lack of liquidity and price volatility. |
| · | Equity Risk: The net asset value
of the Fund will fluctuate based on changes in the value of the equity securities in which it invests through ETFs. Equity prices can
fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions. |
| · | ETF Risk: ETFs are subject to
investment advisory fees and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund
will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in bonds. Each
ETF is subject to specific risks, depending on its investments. ETF shares may trade at a discount or a premium in market price if there
is a limited market in such shares. ETFs are also subject to brokerage and other trading costs, which could result in greater expenses
to the Fund. If the Fund invests a significant portion of its assets in ETFs offered by one ETF sponsor, the Fund could be exposed to
additional risks and losses if the sponsor’s ETFs fall out of favor in the marketplace and trading volumes cause the ETF’s
market prices to decline. |
| · | Fixed-Income
Risk: When the Fund invests in fixed-income ETFs, the value of your investment in the Fund will fluctuate with changes in interest
rates. Rising interest rates will cause a bond’s value to decline. Defaults by fixed income issuers will also harm performance.
Other risk factors impacting fixed-income securities include credit risk, maturity risk, market risk, extension or prepayment risk, illiquid
security risks, investment-grade securities risk. These risks could affect the value of a particular investment by the Fund possibly causing
the Fund’s share price and total return to be reduced and fluctuate more than other types of investments. |
| · | Foreign Investment Risk: Foreign
investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse
political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political
instability and differing auditing and legal standards. |
| · | High Yield or Junk Bond Risk: Lower-quality
bonds and other debt securities, known as “high yield” or “junk” bonds, are considered speculative and present
greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates
could adversely affect the market for these bonds and reduce the Fund’s ability to sell its bonds. The lack of a liquid market for
these bonds could decrease the Fund’s share price. |
| · | Inverse ETF Risk: Inverse ETFs
are designed to rise in price when stock prices are falling. Inverse ETFs may employ leverage, which magnifies tend to limit the changes
in the Fund’s participation in overall market-wide gains. Accordingly, their performance over longer terms can perform very differently
than underlying stock index upon which they are based assets and benchmarks, and volatile markets can amplify this effect. Any strategy
that includes inverse securities could cause the Fund to suffer significant losses. |
| · | Management Risk: The Adviser’s
dependence on its proprietary macroeconomic analysis and judgments about the attractiveness, value and potential appreciation of particular
asset classes in which the Fund invests (long or short via inverse ETFs) may prove to be incorrect and may not produce the desired results. |
| · | Market and
Geopolitical Risk: The increasing interconnectivity between global economies and financial markets increases the likelihood that events
or conditions in one region or financial market may adversely impact issuers in a different country, region or financial market. Securities
in the Fund may underperform due to inflation (or expectations for inflation), interest rates, global demand for particular products or
resources, natural disasters, pandemics, epidemics, terrorism, international conflicts, regulatory events and governmental or quasi-governmental
actions. The occurrence of global events similar to those in recent years, such as a worldwide pandemic, terrorist attacks, natural disasters,
social and political discord or debt crises and downgrades, among others, may result in market volatility and may have long term effects
on both the U.S. and global financial markets. It is difficult to predict when similar events affecting the U.S. or global financial markets
may occur, the effects that such events may have and the duration of those effects. Any such event(s) could have a significant adverse
impact on the value and risk profile of the Fund. The COVID-19 global pandemic had negative impacts, and in many cases severe negative
impacts, on markets worldwide. It is not known how long such impacts, or any future impacts of other significant events described above,
will or would last, but there could be a prolonged period of global economic slowdown, which may impact your investment. Therefore, the
Fund could lose money over short periods due to short-term market movements and over longer periods during more prolonged market downturns.
During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates can
have the same impact on all types of securities and instruments. In times of severe market disruptions, you could lose your entire investment.
|
| · | Portfolio Turnover Risk: A higher
portfolio turnover may result in higher transactional and brokerage costs associated with the turnover which may reduce the Fund’s
return, unless the securities traded can be bought and sold without corresponding commission costs. Active trading of securities may also
increase the Fund’s realized capital gains or losses, which may affect the taxes you pay as the Fund shareholder. The Fund’s
portfolio turnover rate is expected to be above 100% annually. |
| · | Real Estate Investment Trust (REIT)
Risk: Investing in REITs, involves certain unique risks in addition to those associated with the real estate sector generally. REITs
whose underlying properties are concentrated in a particular industry or region are also subject to risks affecting such industries and
regions. REITs (especially mortgage REITs) are also subject to interest rate risks. By investing in REITs through the Fund, a shareholder
will bear expenses of the REITs in addition to Fund expenses. |
| · | Small and Medium Capitalization Company
Risk: Securities of small and medium capitalization companies may be subject to more abrupt or erratic market movements than those
of larger, more established companies or the market averages in general. |
| · | Sovereign Debt Risk: These investments
are subject to the risk that a governmental entity may delay or refuse to pay interest or repay principal on its sovereign debt. There
is no legal process for collecting sovereign debt that a government does not pay nor are there bankruptcy proceedings through which all
or part of the sovereign debt that a governmental entity has not repaid may be collected. |
|
| Alternative And Specialty Assets Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Alternative and Specialty Assets Risk:
The Fund may purchase ETFs that invest in “alternative asset” or “specialty” market segments. The risks and
volatility of these investments are linked to narrow segments of the economy such as commodities, real estate, or currencies. Inverse
ETFs limit the Fund’s participation in certain market gains. |
|
| Commodity Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Commodity Risk: Investing
in the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Commodity prices may
be influenced by unfavorable weather, animal and plant disease, geologic and environmental factors as well as changes in government regulation
such as tariffs, embargoes or burdensome production rules and restrictions. |
|
| Credit Risks [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Credit Risk: Debt issuers
may not make interest or principal payments, resulting in losses to the Fund. In addition, the credit quality of securities held by an
ETF may be lowered if an issuer’s financial condition changes. These risks are more pronounced for securities at the lower end of
the investment grade credit quality spectrum, such as those rated BBB- or lower by Standard & Poor’s Ratings Group or another
NRSRO. |
|
| Currency Risk Domestic And Foreign [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Currency Risk
(Domestic and Foreign): The risk that material changes in currency exchange rates will negatively affect securities denominated in,
and/or receiving revenues in, foreign and domestic currencies. Currency trading risks include market risk, credit risk and country risk.
Market risk results from adverse changes in exchange rates in the currencies the Fund is long or short. Credit risk results because a
currency-trade issuer may default. Country risk arises because a government may interfere with transactions in its currency. |
|
| Emerging Market Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Emerging Market Risk: Investing
in emerging markets involves not only the risks described below with respect to investing in foreign securities, but also other risks,
including exposure to economic structures that are generally less diverse and mature, limited availability and reliability of information
material to an investment decision, and exposure to political systems that can be expected to have less stability than those of developed
countries. The market for the securities of issuers in emerging market typically is small, and a low or nonexistent trading volume in
those securities may result in a lack of liquidity and price volatility. |
|
| Equity Risks [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Equity Risk: The net asset value
of the Fund will fluctuate based on changes in the value of the equity securities in which it invests through ETFs. Equity prices can
fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions. |
|
| E T F Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | ETF Risk: ETFs are subject to
investment advisory fees and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund
will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in bonds. Each
ETF is subject to specific risks, depending on its investments. ETF shares may trade at a discount or a premium in market price if there
is a limited market in such shares. ETFs are also subject to brokerage and other trading costs, which could result in greater expenses
to the Fund. If the Fund invests a significant portion of its assets in ETFs offered by one ETF sponsor, the Fund could be exposed to
additional risks and losses if the sponsor’s ETFs fall out of favor in the marketplace and trading volumes cause the ETF’s
market prices to decline. |
|
| Fixed Income Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Fixed-Income
Risk: When the Fund invests in fixed-income ETFs, the value of your investment in the Fund will fluctuate with changes in interest
rates. Rising interest rates will cause a bond’s value to decline. Defaults by fixed income issuers will also harm performance.
Other risk factors impacting fixed-income securities include credit risk, maturity risk, market risk, extension or prepayment risk, illiquid
security risks, investment-grade securities risk. These risks could affect the value of a particular investment by the Fund possibly causing
the Fund’s share price and total return to be reduced and fluctuate more than other types of investments. |
|
| Foreign Investment Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Foreign Investment Risk: Foreign
investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse
political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political
instability and differing auditing and legal standards. |
|
| High Yield Or Junk Bond Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | High Yield or Junk Bond Risk: Lower-quality
bonds and other debt securities, known as “high yield” or “junk” bonds, are considered speculative and present
greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates
could adversely affect the market for these bonds and reduce the Fund’s ability to sell its bonds. The lack of a liquid market for
these bonds could decrease the Fund’s share price. |
|
| Inverse E T F Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Inverse ETF Risk: Inverse ETFs
are designed to rise in price when stock prices are falling. Inverse ETFs may employ leverage, which magnifies tend to limit the changes
in the Fund’s participation in overall market-wide gains. Accordingly, their performance over longer terms can perform very differently
than underlying stock index upon which they are based assets and benchmarks, and volatile markets can amplify this effect. Any strategy
that includes inverse securities could cause the Fund to suffer significant losses. |
|
| Management Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Management Risk: The Adviser’s
dependence on its proprietary macroeconomic analysis and judgments about the attractiveness, value and potential appreciation of particular
asset classes in which the Fund invests (long or short via inverse ETFs) may prove to be incorrect and may not produce the desired results. |
|
| Market And Geopolitical Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Market and
Geopolitical Risk: The increasing interconnectivity between global economies and financial markets increases the likelihood that events
or conditions in one region or financial market may adversely impact issuers in a different country, region or financial market. Securities
in the Fund may underperform due to inflation (or expectations for inflation), interest rates, global demand for particular products or
resources, natural disasters, pandemics, epidemics, terrorism, international conflicts, regulatory events and governmental or quasi-governmental
actions. The occurrence of global events similar to those in recent years, such as a worldwide pandemic, terrorist attacks, natural disasters,
social and political discord or debt crises and downgrades, among others, may result in market volatility and may have long term effects
on both the U.S. and global financial markets. It is difficult to predict when similar events affecting the U.S. or global financial markets
may occur, the effects that such events may have and the duration of those effects. Any such event(s) could have a significant adverse
impact on the value and risk profile of the Fund. The COVID-19 global pandemic had negative impacts, and in many cases severe negative
impacts, on markets worldwide. It is not known how long such impacts, or any future impacts of other significant events described above,
will or would last, but there could be a prolonged period of global economic slowdown, which may impact your investment. Therefore, the
Fund could lose money over short periods due to short-term market movements and over longer periods during more prolonged market downturns.
During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates can
have the same impact on all types of securities and instruments. In times of severe market disruptions, you could lose your entire investment.
|
|
| Portfolio Turnover Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Portfolio Turnover Risk: A higher
portfolio turnover may result in higher transactional and brokerage costs associated with the turnover which may reduce the Fund’s
return, unless the securities traded can be bought and sold without corresponding commission costs. Active trading of securities may also
increase the Fund’s realized capital gains or losses, which may affect the taxes you pay as the Fund shareholder. The Fund’s
portfolio turnover rate is expected to be above 100% annually. |
|
| Real Estate Investment Trust R E I T Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Real Estate Investment Trust (REIT)
Risk: Investing in REITs, involves certain unique risks in addition to those associated with the real estate sector generally. REITs
whose underlying properties are concentrated in a particular industry or region are also subject to risks affecting such industries and
regions. REITs (especially mortgage REITs) are also subject to interest rate risks. By investing in REITs through the Fund, a shareholder
will bear expenses of the REITs in addition to Fund expenses. |
|
| Small And Medium Capitalization Company Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Small and Medium Capitalization Company
Risk: Securities of small and medium capitalization companies may be subject to more abrupt or erratic market movements than those
of larger, more established companies or the market averages in general. |
|
| Sovereign Debt Risk [Member] |
|
| Prospectus [Line Items] |
|
| Risk [Text Block] |
| · | Sovereign Debt Risk: These investments
are subject to the risk that a governmental entity may delay or refuse to pay interest or repay principal on its sovereign debt. There
is no legal process for collecting sovereign debt that a government does not pay nor are there bankruptcy proceedings through which all
or part of the sovereign debt that a governmental entity has not repaid may be collected. |
|