Emerald Finance and Banking Innovation Fund Class A Shares Class C Shares Institutional Class Shares Investor Class Shares Market Risk Equity Securities Risk Managed Portfolio Risk Sector Risk Banking- and Financial Services-Related Investments Risk Growth Stocks Risk Small and Medium Capitalization Stocks Risk Concentration Risk Cryptocurrency Exposure Risk Distributed Ledger Technology (“DLT”) and Blockchain Investments Risk Financial Technology Risk Foreign Securities Risk Liquidity Risk Real Estate Securities and REITs Risk Securities Issued By Other Investment Companies Risk Special Purpose Acquisition Company Risk Russell 3000 Index (reflects no deductions for fees, expenses or taxes) Russell 2000 Index (reflects no deductions for fees, expenses or taxes) Russell 2000 Financial Services Index (reflects no deductions for fees, expenses or taxes) Seafarer Overseas Growth and Income Fund Institutional Class Investor Class Retail Class Cash Balances Risk Common and Preferred Stock Risks Convertible Securities Risk Currency Risk Developing Country Risk Fixed Income Securities Risk Growth Stock Risk High Yield or Junk Bond Risk Issuer Focus Risk Large Shareholder Risk Region Emphasis Risk Risk Related to Investing in Asia Sanctions Risk Sector Emphasis Risk Small-, Mid-, and Large-sized Companies Risk Trading Markets and Depositary Receipts Risk Bloomberg Emerging Markets Large, Mid, and Small Cap Net Return USD Index (reflects no deductions for fees, expenses or taxes) Morningstar Emerging Markets Net Return USD Index (reflects no deductions for fees, expenses or taxes) Seafarer Overseas Value Fund Institutional Class Investor Class Retail Class Cash Positions Risk Value Stock Risk Bloomberg Emerging Markets Large, Mid, and Small Cap Net Return USD Index (reflects no deductions for fees, expenses, or taxes) Morningstar Emerging Markets Net Return USD Index (reflects no deductions for fees, expenses, or taxes) C000167155Member C000167154Member C000253516Member