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2025-12-31
iso4217:USD
pure
false
485BPOS
N-1A
2026-06-30
0001537140
2026-10-28
2026-10-28
Northern Lights Fund Trust III
2026-11-01
FUND SUMMARY – HCM SECTOR PLUS FUND
Investment
Objective:
<p id="xdx_A8D_eoef--ObjectivePrimaryTextBlock_z4aAORhKAphi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-term capital appreciation.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses of the Fund:
<p id="xdx_A84_eoef--ExpenseNarrativeTextBlock_zobT3U9MZ9Aj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the HCM
Sector Plus Fund(the “Fund”). <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries,
which are not reflected in the tables and examples below. </b><span id="xdx_901_eoef--ExpenseBreakpointDiscounts_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member_zQcg14XZIbRb"><span id="xdx_905_eoef--ExpenseBreakpointDiscounts_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152643Member_zOqOxCrWf16g">You may qualify for sales charge discounts on purchases of Class A and
Class A1 shares if you and your family invest, or agree to invest in the future, at least $<span id="xdx_90D_eoef--ExpenseBreakpointMinimumInvestmentRequiredAmount_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member_zfAiWEXMReUb"><span id="xdx_90E_eoef--ExpenseBreakpointMinimumInvestmentRequiredAmount_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152643Member_zaWnmBZ99FNh">25,000</span></span> in the Fund.</span></span> More information about
these and other discounts is available from your financial professional and under the heading “<b>How to Purchase Shares”</b>
on page 44 of this Prospectus. In addition, descriptions of the sales load waivers and/or discounts for Class A and Class A1 shares
with respect to certain financial intermediaries are reproduced in “Appendix A: Intermediary-Specific Sales Charge Waivers and
Discounts” to this Prospectus based on information provided by the financial intermediary.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
You may qualify for sales charge discounts on purchases of Class A and
Class A1 shares if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund.
You may qualify for sales charge discounts on purchases of Class A and
Class A1 shares if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund.
25000
25000
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A8B_eoef--ShareholderFeesTableTextBlock_zWURQxULSpcg"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zbUkZuXKm214" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 56%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><br/>
Shareholder Fees <br/>
(fees paid directly from your investment)</b></span></td>
<td id="xdx_499_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member_zVP5eVlBmW8i" style="border-top: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 11%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class<br/>
A</b></span></td>
<td id="xdx_49D_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152643Member_z73QRRK6FZyg" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 11%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class<br/>
A1</b></span></td>
<td id="xdx_49E_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152645Member_z3ILblNovex2" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 11%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class<br/>
I</b></span></td>
<td id="xdx_491_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152644Member_zgtrGiSMt6lf" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 11%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor<br/>
Class</b></span></td></tr>
<tr id="xdx_401_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zZQPISI1icN4" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maximum
Sales Charge (Load) Imposed on Purchases<br/>
(as a % of offering price)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.75%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.75%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr id="xdx_40E_eoef--MaximumDeferredSalesChargeOverOfferingPrice_dpn_zHdhzESI1FRd" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maximum
Deferred Sales Charge (Load)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr id="xdx_402_eoef--RedemptionFeeOverRedemption_dpn_zs2reBMPQxg9" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemption
Fee<br/>
(as a % of amount redeemed if held less than 30 days) </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
</table>
0.0575
0.0575
0
0
0
0
0
0
0
0
0
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A83_eoef--AnnualFundOperatingExpensesTableTextBlock_zNYnThCudpQk"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zlmpBdl1C783" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left; width: 56%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual
Fund Operating Expenses <br/>
(expenses that you pay each year as a <br/>
percentage of the value of your investment)</b></span></td>
<td id="xdx_499_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member_zSWs1gc7ALFk" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 11%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_49D_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152643Member_zPZbCNOhjwq8" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 11%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_49E_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152645Member_zbPl6Ddvlv3" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 11%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_491_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152644Member_zEXGMm43qEy2" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 11%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_406_eoef--ManagementFeesOverAssets_dpn_zLWeuTq54m3h" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fees</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td></tr>
<tr id="xdx_405_eoef--DistributionAndService12b1FeesOverAssets_dpn_zLU3Eq1NYhk5" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and Service (12b-1) Fees</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.00%</span></td></tr>
<tr id="xdx_404_eoef--OtherExpensesOverAssets_dpn_zsx6vuXIWz82" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.10%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.10%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.10%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.10%</span></td></tr>
<tr id="xdx_405_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zyIXaIQjlZ5f" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F4A_zdfXhjX52N0g">(1)</sup></span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40%</span></td></tr>
<tr id="xdx_408_eoef--ExpensesOverAssets_dpn_zrmDE7qYzd3f" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.00%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.15%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.75%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.75%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F0C_ziZGSjpRJ5j7" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1B_zxJ2ZHbZOLKd" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies.
<span id="xdx_90C_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zNSBjFA8cJA4">The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s
financial highlights because the financial statements include only the direct operating expenses
incurred by the Fund.</span></span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0125
0.0125
0.0125
0.0125
0.0025
0.0040
0
0.0100
0.0010
0.0010
0.0010
0.0010
0.0040
0.0040
0.0040
0.0040
0.0200
0.0215
0.0175
0.0275
The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s
financial highlights because the financial statements include only the direct operating expenses
incurred by the Fund.
Example:
<p id="xdx_A8B_eoef--ExpenseExampleNarrativeTextBlock_zOg3AUggsSOg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those
periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain
the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
<div id="xdx_A86_eoef--ExpenseExampleWithRedemptionTableTextBlock_zhR3fWdGmSSh"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zjVuGWv9kgQh" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 70%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Class</span></b></span></td>
<td id="xdx_488_eoef--ExpenseExampleYear01_zib8j4q6eNO9" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_480_eoef--ExpenseExampleYear03_zryQJ05n0Dxf" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_486_eoef--ExpenseExampleYear05_zHnXGX9fRNd1" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_484_eoef--ExpenseExampleYear10_zB8A0tXizula" style="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_413_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member_zaqCwx1eGmij" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$766</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,166</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,591</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,768</span></td></tr>
<tr id="xdx_419_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152643Member_zA99KmOBEEec" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A1</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$781</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,209</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,663</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,915</span></td></tr>
<tr id="xdx_414_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152645Member_zMjbMJT4RKT5" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">I</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$178</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$551</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$949</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,062</span></td></tr>
<tr id="xdx_411_20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152644Member_zJK2rxLKnQ6j" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investor</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$278</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$853</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,454</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$3,080</span></td></tr>
</table>
766
1166
1591
2768
781
1209
1663
2915
178
551
949
2062
278
853
1454
3080
Portfolio
Turnover:
<p id="xdx_A87_eoef--PortfolioTurnoverTextBlock_zt2LrrRYUh1g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its
portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held
in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s
performance. For the fiscal year ended June 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_90F_eoef--PortfolioTurnoverRate_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_z0EcoZ0btiE2">81%</span> of the average value of its portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.81
Principal
Investment Strategies:
<p id="xdx_A88_eoef--StrategyNarrativeTextBlock_zECRFBY3SFpe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund seeks to achieve its investment objective through investments in: (i) dividend paying equity securities
of companies included in the S&P 500; “plus” (ii) other investment companies (mutual funds, closed-end funds and ETFs),
sometimes referred to in this Prospectus as “Underlying Funds,” including investment companies that use leverage; and (iii)
cash and cash equivalents and put and call options. Unlike typical dividend funds, the Fund may use leverage through investment companies
that use leverage.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adviser (as defined below) uses the HCM – BuyLine<sup>®</sup> (“HCM-BuyLine<sup>®</sup>”), its proprietary
quantitative investment model, to determine when the Fund should be in or out of the market. The HCM-BuyLine<sup>®</sup> uses trend
analysis to help identify the broad trend in the equity market. When the trend is down, the Adviser reduces the Fund’s exposure
to equities, and, when the trend is up, the Adviser increases the Fund’s exposure to equities. When the Fund is out of the market,
it invests in cash and cash equivalents and/or put options. Put options generally have an inverse relationship to the underlying security
on which the option is held. When the Fund is in the market, it invests in equity securities and/or call options. Call options generally
have a direct relationship to the underlying security on which the option is held. The Fund is designed to maximize returns through tactical
allocations and investing in any combination of sectors, asset classes, and sub-sectors as determined by the HCM-BuyLine<sup>®</sup>.
To respond to adverse market, economic, political or other conditions, the Adviser may temporarily hold more cash and cash equivalents
than indicated by the HCM-BuyLine<sup>®</sup>.</span></p>
<p id="xdx_A8C_eoef--RiskTextBlock_gRBRTB-KFHCLT_zUwdKrx2LPt8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The
Fund is not intended to be a complete investment program and you should consider it just one part of your total investment program. Many
factors affect the Fund’s net asset value and performance.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zMJAkme0gtl9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
and Cash Equivalents Risk: </i>When the Fund is out of the market and invests in cash and
cash equivalents, there is a risk that the market will begin to rise rapidly, and the Fund
will not be able to reinvest its cash positions into areas of the advancing market quickly
enough to capture the initial returns of changing market conditions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--DividendpayingStockRiskMember_zf66JPc5Dnn6">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Dividend-Paying
Stock Risk: </i>While the Fund may hold securities of companies that have historically paid
a high dividend yield, those companies may reduce or discontinue their dividends, reducing
the yield of the Fund. Low priced securities in the Fund may be more susceptible to these
risks. Past dividend payments are not a guarantee of future dividend payments. Also, the
market return of high dividend yield securities, in certain market conditions, may perform
worse than other investment strategies or the overall stock market. The Fund’s emphasis
on dividend-paying stocks involves the risk that such stocks may fall out of favor with investors
and underperform the market. Also, a company may reduce or eliminate its dividend.</span></td></tr></table></div><p id="xdx_A9B_zmHA2eqveQfg" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zxdOUrn8eq63">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>The net asset value of the Fund will fluctuate based on changes in the
value of the equity securities held by the Fund. Equity prices can fall rapidly in response
to developments affecting a specific company or industry, or to changing economic, political
or market conditions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentModelRiskMember_zJEazohKeib8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investment
Model Risk: </i>Like all quantitative analysis, the Adviser’s investment model carries
a risk that the mathematical model used might be based on one or more incorrect assumptions.
No assurance can be given that the Fund will be successful under all or any market conditions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationStockRiskMember_zLm9EhmvoGE1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large
Capitalization Stock Risk: </i>Large-capitalization companies may be less able than smaller
capitalization companies to adapt to changing market conditions. Large-capitalization companies
may be more mature and have limited growth potential compared to smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed
the overall performance of the broader securities markets.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_zdcoIRpiWmA7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
Risk: </i>The Underlying Funds in which the Fund may invest may use leverage including through
use of a line of credit through a bank. Using leverage can magnify a mutual fund’s
potential for gain or loss and therefore, amplify the effects of market volatility on a mutual
fund’s share price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zVBqhiqIi0Ve">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Management
Risk: </i>The Adviser’s reliance on its strategy and judgments about the attractiveness,
value and potential appreciation of particular securities and the tactical allocation among
the Fund’s investments may prove to be incorrect and may not produce the desired results.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zLigzpqtmBt1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>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’s portfolio may underperform due to inflation (or expectations for inflation),
interest rates, global demand for particular products or resources, natural disasters, climate
change and climate-related events, pandemics, epidemics, terrorism, international conflicts,
tariffs and trade wars, regulatory events and governmental or quasi-governmental actions.
The occurrence of global events similar to those in recent years may result in market volatility
and may have long term effects on both the U.S. and global financial markets.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zNGM7bLhkCfd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire
premium paid if the underlying security or index does not decrease in value. When the Fund
purchases a call option on a security or index it may lose the entire premium paid if the
underlying security or index does not increase in value. The Fund is also exposed to default
if any option writer is unwilling or unable to perform its contractual obligations to the
Fund.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zLUJaZ1E3bDj">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sector
Risk: </i>The Fund may be subject to the risk that its assets are invested in a particular
sector or group of sectors in the economy and as a result, the value of the Fund may be adversely
impacted by events or developments in a sector or group of sectors.</span></td></tr></table>
</div><p id="xdx_A9B_zUFytSLyDD4h" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMediumCapitalizationStockRiskMember_zIbmtGZ1FTDh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Small
and Medium Capitalization Stock Risk: </i>The price of small or medium capitalization company
stocks may be subject to more abrupt or erratic market movements than larger, more established
companies or the market averages in general.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zaFBavDpoxF4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Turnover
Risk: </i>A higher portfolio turnover will result in higher transactional and brokerage costs
and may result in higher taxes when Fund shares are held in a taxable account.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_zNjrYk91ixxe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>ETFs and mutual funds are subject to investment advisory and other expenses,
which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund
will be higher than the cost of investing directly in other investment companies and may
be higher than other mutual funds that invest directly in securities. The market value of
ETFs and mutual fund shares may differ from their net asset value. Each investment company
and ETF is subject to specific risks, depending on the nature of the fund.</span></td></tr></table></div>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zMJAkme0gtl9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
and Cash Equivalents Risk: </i>When the Fund is out of the market and invests in cash and
cash equivalents, there is a risk that the market will begin to rise rapidly, and the Fund
will not be able to reinvest its cash positions into areas of the advancing market quickly
enough to capture the initial returns of changing market conditions.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-KFHCLT_zLXvZlLAjvce"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--DividendpayingStockRiskMember_zf66JPc5Dnn6">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Dividend-Paying
Stock Risk: </i>While the Fund may hold securities of companies that have historically paid
a high dividend yield, those companies may reduce or discontinue their dividends, reducing
the yield of the Fund. Low priced securities in the Fund may be more susceptible to these
risks. Past dividend payments are not a guarantee of future dividend payments. Also, the
market return of high dividend yield securities, in certain market conditions, may perform
worse than other investment strategies or the overall stock market. The Fund’s emphasis
on dividend-paying stocks involves the risk that such stocks may fall out of favor with investors
and underperform the market. Also, a company may reduce or eliminate its dividend.</span></td></tr></table></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zxdOUrn8eq63">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>The net asset value of the Fund will fluctuate based on changes in the
value of the equity securities held by the Fund. Equity prices can fall rapidly in response
to developments affecting a specific company or industry, or to changing economic, political
or market conditions.</span></td></tr></table></div><div id="xdx_C0B_gRBRTB-KFHCLT_zaEEInY8x7Pj"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentModelRiskMember_zJEazohKeib8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investment
Model Risk: </i>Like all quantitative analysis, the Adviser’s investment model carries
a risk that the mathematical model used might be based on one or more incorrect assumptions.
No assurance can be given that the Fund will be successful under all or any market conditions.</span></td></tr></table></div><div id="xdx_C0A_gRBRTB-KFHCLT_z8Cda4vy5QY9"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationStockRiskMember_zLm9EhmvoGE1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large
Capitalization Stock Risk: </i>Large-capitalization companies may be less able than smaller
capitalization companies to adapt to changing market conditions. Large-capitalization companies
may be more mature and have limited growth potential compared to smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed
the overall performance of the broader securities markets.</span></td></tr></table></div><div id="xdx_C00_gRBRTB-KFHCLT_zR3Fqjds46je"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_zdcoIRpiWmA7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
Risk: </i>The Underlying Funds in which the Fund may invest may use leverage including through
use of a line of credit through a bank. Using leverage can magnify a mutual fund’s
potential for gain or loss and therefore, amplify the effects of market volatility on a mutual
fund’s share price.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-KFHCLT_z8kqtkKAxyxi"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zVBqhiqIi0Ve">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Management
Risk: </i>The Adviser’s reliance on its strategy and judgments about the attractiveness,
value and potential appreciation of particular securities and the tactical allocation among
the Fund’s investments may prove to be incorrect and may not produce the desired results.</span></td></tr></table></div><div id="xdx_C02_gRBRTB-KFHCLT_zzv6PrxaJOz6"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zLigzpqtmBt1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>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’s portfolio may underperform due to inflation (or expectations for inflation),
interest rates, global demand for particular products or resources, natural disasters, climate
change and climate-related events, pandemics, epidemics, terrorism, international conflicts,
tariffs and trade wars, regulatory events and governmental or quasi-governmental actions.
The occurrence of global events similar to those in recent years may result in market volatility
and may have long term effects on both the U.S. and global financial markets.</span></td></tr></table></div><div id="xdx_C0B_gRBRTB-KFHCLT_zhDJbPoryyzj"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zNGM7bLhkCfd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire
premium paid if the underlying security or index does not decrease in value. When the Fund
purchases a call option on a security or index it may lose the entire premium paid if the
underlying security or index does not increase in value. The Fund is also exposed to default
if any option writer is unwilling or unable to perform its contractual obligations to the
Fund.</span></td></tr></table></div><div id="xdx_C0E_gRBRTB-KFHCLT_znQ3ZGqqCVa9"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zLUJaZ1E3bDj">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sector
Risk: </i>The Fund may be subject to the risk that its assets are invested in a particular
sector or group of sectors in the economy and as a result, the value of the Fund may be adversely
impacted by events or developments in a sector or group of sectors.</span></td></tr></table>
</div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMediumCapitalizationStockRiskMember_zIbmtGZ1FTDh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Small
and Medium Capitalization Stock Risk: </i>The price of small or medium capitalization company
stocks may be subject to more abrupt or erratic market movements than larger, more established
companies or the market averages in general.</span></td></tr></table></div><div id="xdx_C06_gRBRTB-KFHCLT_zKADa05UjdYb"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zaFBavDpoxF4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Turnover
Risk: </i>A higher portfolio turnover will result in higher transactional and brokerage costs
and may result in higher taxes when Fund shares are held in a taxable account.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-KFHCLT_z5MpKpxPIS3j"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_zNjrYk91ixxe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>ETFs and mutual funds are subject to investment advisory and other expenses,
which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund
will be higher than the cost of investing directly in other investment companies and may
be higher than other mutual funds that invest directly in securities. The market value of
ETFs and mutual fund shares may differ from their net asset value. Each investment company
and ETF is subject to specific risks, depending on the nature of the fund.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Performance:
<p id="xdx_A81_eoef--PerformanceNarrativeTextBlock_zjdLha7kcOfg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_z0iaxogPe106">The bar chart and performance table show the variability of the Fund’s returns over time, which is some indication of the risks
of investing in the Fund. The bar chart shows performance of the Fund’s Class A shares for each of the last ten calendar years.</span>
Although Class A1, Class I and Investor Class shares would have similar returns to Class A shares because the classes are invested in
the same portfolio of securities, the returns for Class A1, Class I and Investor Class shares would be different from Class A shares
because Class A1, Class I and Investor Class shares have different expenses than Class A shares. The performance table compares the performance
of the Fund over time to the performance of a broad-based market index. <span id="xdx_907_eoef--PerformancePastDoesNotIndicateFuture_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zNuBFlVHQta2">You should be aware that the Fund’s past performance (before
and after taxes) may not be an indication of how the Fund will perform in the future.</span> Updated performance information is available at
no cost by visiting <span style="text-decoration: underline"><span id="xdx_903_eoef--PerformanceAvailabilityWebSiteAddress_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zLxHcNOPa5k3">www.howardcmfunds.com</span></span> or by calling <span id="xdx_903_eoef--PerformanceAvailabilityPhone_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zPo5eCJo1w3d">1-855-969-8464</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The bar chart and performance table show the variability of the Fund’s returns over time, which is some indication of the risks
of investing in the Fund. The bar chart shows performance of the Fund’s Class A shares for each of the last ten calendar years.
You should be aware that the Fund’s past performance (before
and after taxes) may not be an indication of how the Fund will perform in the future.
www.howardcmfunds.com
1-855-969-8464
Class
A Performance Bar Chart For Calendar Years Ended December 31
(Returns
do not reflect sales loads and would be lower if they did)
Returns
do not reflect sales loads and would be lower if they did
<div id="xdx_A82_eoef--BarChartTableTextBlock_zvGsr5IIZvj5"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zgl0L9Hw9xHf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; display: none" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: left">
<td style="width: 10%"> </td>
<td id="xdx_498_20160101__20161231_zIdtbO01yQ4g" style="width: 9%">2016</td>
<td id="xdx_498_20170101__20171231_zqts4pnhQ07l" style="width: 9%">2017</td>
<td id="xdx_498_20180101__20181231_zF1VoR5JSB59" style="width: 9%">2018</td>
<td id="xdx_498_20190101__20191231_zmBe8UEhsJB8" style="width: 9%">2019</td>
<td id="xdx_498_20200101__20201231_zNiDoI0fQ95i" style="width: 9%">2020</td>
<td id="xdx_498_20210101__20211231_z8UmEZdwGCmj" style="width: 9%">2021</td>
<td id="xdx_498_20220101__20221231_zeeaGhcqu5pb" style="width: 9%">2022</td>
<td id="xdx_498_20230101__20231231_z2eWTC5D5Inh" style="width: 9%">2023</td>
<td id="xdx_498_20240101__20241231_zPASN3jTMsVg" style="width: 9%">2024</td>
<td id="xdx_498_20250101__20251231_z09ePvTswiw3" style="width: 9%">2025</td></tr>
<tr id="xdx_402_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member_zxJdKFjdtiJa" style="vertical-align: top; text-align: left">
<td> </td>
<td>32.04%</td>
<td>19.10%</td>
<td>-13.73%</td>
<td>24.85%</td>
<td>28.79%</td>
<td>37.59%</td>
<td>-22.44%</td>
<td>17.73%</td>
<td>23.28%</td>
<td>16.84%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><img alt="(BAR GRAPH)" src="hc002_v1.jpg"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.3204
0.1910
-0.1373
0.2485
0.2879
0.3759
-0.2244
0.1773
0.2328
0.1684
<div id="xdx_A8D_eoef--BarChartClosingTextBlock_zySw4N7HEGHi"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 50%; border-collapse: collapse; margin-right: auto">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td id="xdx_98A_eoef--HighestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zAhpvNsWJ7e6" style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Best
Quarter:</span></td>
<td id="xdx_985_eoef--BarChartHighestQuarterlyReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zM45ytKe16i4" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/31/2020</span></td>
<td id="xdx_989_eoef--BarChartHighestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zi8Zz5Mn7C9c" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.24%</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td id="xdx_987_eoef--LowestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_z6bHu1eWot2j" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Worst
Quarter:</span></td>
<td id="xdx_987_eoef--BarChartLowestQuarterlyReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zOaj9JRIyx3i" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3/31/2020</span></td>
<td id="xdx_989_eoef--BarChartLowestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_z7PLNV7HXQQb" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-16.87%</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eoef--YearToDateReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zuHaKxpQriV6">The
year-to-date return as of the most recent calendar quarter</span>, which ended <span id="xdx_904_eoef--BarChartYearToDateReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zTpXZxO1DAc7">September 30, 2026</span>, was <span id="xdx_904_eoef--BarChartYearToDateReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zpv4VwzEeBv3">6.03%</span>.</span></p>
Best
Quarter:
2020-12-31
0.1824
Worst
Quarter:
2020-03-31
-0.1687
The
year-to-date return as of the most recent calendar quarter
2026-09-30
0.0603
Performance
Table
Average
Annual Total Returns
(For
periods ended December 31, 2025)
<div id="xdx_A8F_eoef--PerformanceTableTextBlock_zpc88Z41quRl"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zklod3EHqL39" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #C6D9F1">
<td style="border: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 58%; padding-right: 2.9pt; padding-left: 2.9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_490_20250101__20251231_zf8OOJIbCfpe" style="border-top: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 14%; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>One
<br/>
Year</b></span></td>
<td id="xdx_493_20210101__20251231_znsFSvGztXg5" style="border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 14%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Five<br/>
Years</b></span></td>
<td id="xdx_49D_20160101__20251231_zewGAt2SbLpd" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 14%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Ten
Years</b></span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
A shares</b></span></td>
<td style="border-right: black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member_zMEV7MIqsSgb" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member_zhALtrmyYxa5">Return
before taxes</span></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.11%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.27%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.04%</span></td></tr>
<tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zQrmMTEDb2wl" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
after taxes on distributions</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.97%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.46%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.18%</span></td></tr>
<tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152642Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zDqJqZk0pMod" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
after taxes on distributions and sale of Fund shares</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.09%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.24%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.86%</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
A1 shares</b></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152643Member_zUgZTBNPd3ee" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152643Member_z9Kg9fndrdJb">Return
before taxes</span></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.90%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.06%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.88%</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
I shares</b></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152645Member_zfmGduUUSIi1" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152645Member_zLWKhoz8UXce">Return
before taxes</span></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.10%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.89%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.92%</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor
Class shares</b></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152644Member_zCsNwXXtje7k" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000048332Member__oef--ClassAxis__custom--C000152644Member_zxbICXmPDgJe">Return
before taxes</span></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.92%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.75%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.86%</span></td></tr>
<tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000048332Member__oef--PerformanceMeasureAxis__custom--SAndP500TRIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zBl0NQFhOcB8" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>S&P
500 TR Index</b><sup id="xdx_F45_zuXBggyYOVd9">(1)</sup><b><br/>
</b>(<span id="xdx_900_eoef--IndexNoDeductionForFeesExpensesTaxes_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_z0ndEGQGsit7">reflects no deduction for fees, expenses or taxes</span>)</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.88%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.42%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.82%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F01_zgfTp56rezZ9" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1B_zSg2qN6x1S2b" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
S&P 500 TR Index is a widely accepted, unmanaged index of U.S. stock market performance
which does not take into account charges, fees and other expenses. Investors cannot invest
directly in an index or benchmark.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Return
before taxes
0.1011
0.1127
0.1404
0.0997
0.0946
0.1218
0.0609
0.0824
0.1086
Return
before taxes
0.0990
0.1106
0.1388
Return
before taxes
0.1710
0.1289
0.1492
Return
before taxes
0.1592
0.1175
0.1386
reflects no deduction for fees, expenses or taxes
0.1788
0.1442
0.1482
<p id="xdx_A81_eoef--PerformanceTableClosingTextBlock_zjF529lP1AV4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eoef--PerformanceTableUsesHighestFederalRate_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zovhXxqDzb3h">After-tax
returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state
and local taxes.</span> <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_zwDY8bIm7Mlh">Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax
returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual
retirement accounts.</span> <span id="xdx_907_eoef--PerformanceTableOneClassOfAfterTaxShown_c20261028__20261028__dei--LegalEntityAxis__custom--S000048332Member_z3elwpKpUFia">After tax returns for the share classes which are not presented will vary from the after-tax returns of Class A
shares.</span></span></p>
After-tax
returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state
and local taxes.
Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax
returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual
retirement accounts.
After tax returns for the share classes which are not presented will vary from the after-tax returns of Class A
shares.
FUND
SUMMARY – HCM TACTICAL PLUS FUND
Investment
Objective:
<p id="xdx_A80_eoef--ObjectivePrimaryTextBlock_zKpuGsiCYy0j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Long-term capital appreciation.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses of the Fund:
<p id="xdx_A86_eoef--ExpenseNarrativeTextBlock_zNNr6yf1zmz5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the HCM
Tactical Plus Fund (the “Fund”). <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries,
which are not reflected in the tables and examples below. </b><span id="xdx_905_eoef--ExpenseBreakpointDiscounts_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member_zKxlMmZ7nVV">You may qualify for sales charge discounts on purchases of Class A shares
if you and your family invest, or agree to invest in the future, at least $<span id="xdx_904_eoef--ExpenseBreakpointMinimumInvestmentRequiredAmount_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member_znqPhUxXFhji">25,000</span> in the Fund.</span> More information about these and other
discounts is available from your financial professional and under the heading “<b>How to Purchase Shares”</b> on page 44
of this Prospectus. In addition, descriptions of the sales load waivers and/or discounts for Class A shares with respect to certain financial
intermediaries are reproduced in “Appendix A: Intermediary-Specific Sales Charge Waivers and Discounts” to this Prospectus
based on information provided by the financial intermediary.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
You may qualify for sales charge discounts on purchases of Class A shares
if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund.
25000
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A80_eoef--ShareholderFeesTableTextBlock_zY7XSHuyWsi"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5E_dU_zuM9fYxWMXrg" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 64%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><br/>
Shareholder Fees <br/>
(fees paid directly from your investment)</b></span></td>
<td id="xdx_49D_20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member_zbKyrnRCTXif" style="border-top: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 12%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class<br/>
A</b></span></td>
<td id="xdx_492_20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143209Member_z0k70mZLjYm8" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 12%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class<br/>
I</b></span></td>
<td id="xdx_49C_20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143208Member_z9zouoOCNGX4" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 12%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor<br/>
Class</b></span></td></tr>
<tr id="xdx_403_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zc8eb7UEzjHd" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maximum
Sales Charge (Load) Imposed on Purchases<br/>
(as a % of offering price)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.75%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr id="xdx_406_eoef--MaximumDeferredSalesChargeOverOfferingPrice_dpn_zRLpnpNzm2z9" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maximum
Deferred Sales Charge (Load)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr id="xdx_406_eoef--RedemptionFeeOverRedemption_dpn_zENyn5yLTvH6" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemption
Fee<br/>
(as a % of amount redeemed if held less than 30 days) </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
</table>
0.0575
0
0
0
0
0
0
0
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A87_eoef--AnnualFundOperatingExpensesTableTextBlock_zg2WDUhKreub"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zTxVxY4oCYZ9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left; width: 64%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual
Fund Operating Expenses <br/>
(expenses that you pay each year as a <br/>
percentage of the value of your investment)</b></span></td>
<td id="xdx_49D_20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member_zT9ZULsELGQ4" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 12%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_492_20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143209Member_zmcvPSdgvGb1" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 12%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_49C_20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143208Member_zMk4mKR455Al" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 12%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eoef--ManagementFeesOverAssets_dpn_zJJFObVAxQE8" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fees</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td></tr>
<tr id="xdx_405_eoef--DistributionAndService12b1FeesOverAssets_dpn_z8AVm6rz4m83" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and Service (12b-1) Fees</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.00%</span></td></tr>
<tr id="xdx_403_eoef--OtherExpensesOverAssets_dpn_zmwgr1oYPVqi" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.10%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.10%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.10%</span></td></tr>
<tr id="xdx_405_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zF6WISj4dati" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1pt; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F4F_zUhk4JGQEU5e">(1)</sup></span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.49%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.49%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.49%</span></td></tr>
<tr id="xdx_400_eoef--ExpensesOverAssets_dpn_zusg3VGkptbk" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.09%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.84%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.84%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F0C_zsgfF52USnW1" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F13_zvGnImam7ip3" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies,
including exchange traded funds (“ETFs”). <span id="xdx_90A_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zd0PwHHb5gZe">The operating expenses in this fee
table will not correlate to the expense ratio in the Fund’s financial highlights because
the financial statements include only the direct operating expenses incurred by the Fund.</span></span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0125
0.0125
0.0125
0.0025
0
0.0100
0.0010
0.0010
0.0010
0.0049
0.0049
0.0049
0.0209
0.0184
0.0284
The operating expenses in this fee
table will not correlate to the expense ratio in the Fund’s financial highlights because
the financial statements include only the direct operating expenses incurred by the Fund.
Example:
<p id="xdx_A83_eoef--ExpenseExampleNarrativeTextBlock_zvhBcwuSaLxc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those
periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain
the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
<div id="xdx_A8F_eoef--ExpenseExampleWithRedemptionTableTextBlock_zDrAnveYvl9j"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zhdCxWl6vCFh" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 70%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Class</span></b></span></td>
<td id="xdx_480_eoef--ExpenseExampleYear01_zQTQ4xWX7ZGb" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_48B_eoef--ExpenseExampleYear03_zeCEb3aP2Tn9" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_482_eoef--ExpenseExampleYear05_zXTYmAYfHfEd" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_48B_eoef--ExpenseExampleYear10_z2YLT1K00lr9" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_41D_20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member_zRYjas59f1Mh" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$775</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,192</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,634</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,857</span></td></tr>
<tr id="xdx_41F_20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143209Member_zK7Zlb0kY24d" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">I</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$187</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$579</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$995</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,159</span></td></tr>
<tr id="xdx_415_20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143208Member_ze0nCQ6Lpa0b" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investor</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$287</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$880</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,499</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$3,166</span></td></tr>
</table>
775
1192
1634
2857
187
579
995
2159
287
880
1499
3166
Portfolio
Turnover:
<p id="xdx_A87_eoef--PortfolioTurnoverTextBlock_zfIW5pyIck62" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over”
its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are
held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s
performance. For the fiscal year ended June 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_z95JEGS9Genb">100%</span> of the average value of its portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
1
Principal
Investment Strategies:
<p id="xdx_A87_eoef--StrategyNarrativeTextBlock_zNcDyPRBxtm1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund seeks to achieve its investment objective through investments in: (i) domestic equity securities
of any market capitalization; “plus”(ii) investment companies (mutual funds, closed-end funds and ETFs), sometimes referred
to in this Prospectus as “Underlying Funds;” including investment companies that use leverage and (iii) cash and cash equivalents
and put and call options.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adviser (as defined below) uses the HCM – BuyLine<sup>®</sup> (“HCM-BuyLine<sup>®</sup>”), its proprietary
quantitative investment model, to determine when the Fund should be in or out of the market. The HCM-BuyLine<sup>®</sup> uses trend
analysis to help identify the broad trend in the equity market. When the trend is down, the Adviser reduces the Fund’s exposure
to equities, and, when the trend is up, the Adviser increases the Fund’s exposure to equities. The Adviser uses its discretion
to make tactical allocations and determine how much the Fund will be in or out of the market based on the strength of the trend identified
by the HCM-BuyLine<sup>®</sup>. When the Fund is out of the market, it invests in cash and cash equivalents and/or put options to
hedge the portfolio’s equity securities and to reduce volatility. Put options generally have an inverse relationship to the underlying
security on which the option is held. When the Fund in in the market, it invests in equity securities and/or call options. Call options
generally have a direct relationship to the underlying security on which the option is held. The Fund may be invested from 0-100% in
cash and cash equivalents and/or put and call options and 0-100% in equities depending on the strength of the trend identified by the
HCM-BuyLine<sup>®</sup>. To respond to adverse market, economic, political or other conditions, the Adviser may temporarily hold
more cash and cash equivalents than indicated by the HCM-BuyLine<sup>®</sup>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund invests in equity securities of companies in sectors selected by the HCM-BuyLine<sup>®</sup>, which indicates which sectors
are outperforming other sectors at any given time based on the Adviser’s proprietary strength criteria. The Fund is heavily growth
oriented and designed to maximize returns through investing in any combination of sectors, asset classes, and sub-sectors as determined
by the HCM-BuyLine<sup>®</sup>.</span></p>
<p id="xdx_A83_eoef--RiskTextBlock_gRBRTB-DKUKP_zWtIDl2U3XZ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The
Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value and performance.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zn6zI65gtEV5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
and Cash Equivalents Risk: </i>When the Fund is out of the market and invests in cash and
cash equivalents, there is a risk that the market will begin to rise rapidly, and the Fund
will not be able to reinvest its cash positions into areas of the advancing market quickly
enough to capture the initial returns of changing market conditions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zG1YSaUL6nR7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>The net asset value of the Fund will fluctuate based on changes in the
value of the equity securities held by the Fund. Equity prices can fall rapidly in response
to developments affecting a specific company or industry, or to changing economic, political
or market conditions.</span></td></tr></table></div><p id="xdx_A90_zC8cvPqQ9SFi" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentModelRiskMember_z2PEmzM9k14h">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investment
Model Risk: </i>Like all quantitative analysis, the Adviser’s investment model carries
a risk that the mathematical model used might be based on one or more incorrect assumptions.
No assurance can be given that the Fund will be successful under all or any market conditions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationStockRiskMember_zN382G7G4iQd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large
Capitalization Stock Risk: </i>Large-capitalization companies may be less able than smaller
capitalization companies to adapt to changing market conditions. Large-capitalization companies
may be more mature and have limited growth potential compared to smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed
the overall performance of the broader securities markets.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_z63BlT8jx1Zh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
Risk: </i>The Underlying Funds in which the Fund may invest may use leverage including through
use of a line of credit through a bank. Using leverage can magnify a mutual fund’s
potential for gain or loss and therefore, amplify the effects of market volatility on a mutual
fund’s share price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zJWzGS8DJukk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Management
Risk: </i>The Adviser’s reliance on its strategy and judgments about the attractiveness,
value and potential appreciation of particular securities and the tactical allocation among
the Fund’s investments may prove to be incorrect and may not produce the desired results.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zumXLapKZNV8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>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’s portfolio may underperform due to inflation (or expectations for inflation),
interest rates, global demand for particular products or resources, natural disasters, climate
change and climate-related events, pandemics, epidemics, terrorism, international conflicts,
tariffs and trade wars, regulatory events and governmental or quasi-governmental actions.
The occurrence of global events similar to those in recent years may result in market volatility
and may have long term effects on both the U.S. and global financial markets.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zAmmcfqpXtu1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire
premium paid if the underlying security or index does not decrease in value. When the Fund
purchases a call option on a security or index it may lose the entire premium paid if the
underlying security or index does not increase in value. The Fund is also exposed to default
if an option writer is unwilling or unable to perform its contractual obligations to the
Fund.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_z2sKXTVlAfKc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sector
Risk: </i>The Fund may be subject to the risk that its assets are invested in a particular
sector or group of sectors in the economy and as a result, the value of the Fund may be adversely
impacted by events or developments in a sector or group of sectors.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMediumCapitalizationStockRiskMember_zeMTPQbrOMN5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Small
and Medium Capitalization Stock Risk: </i>The price of small or medium capitalization company
stocks may be subject to more abrupt or erratic market movements than larger, more established
companies or the market averages in general.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zLo8UD3bBv3d">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Turnover
Risk: </i>A higher portfolio turnover will result in higher transactional and brokerage costs
and may result in higher taxes when Fund shares are held in a taxable account.</span></td></tr></table></div><p id="xdx_A9F_zByPZk5SRG9k" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_z450oFXw8e8d">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>ETFs and mutual funds are subject to investment advisory and other expenses,
which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund
will be higher than the cost of investing directly in other investment companies and may
be higher than other mutual funds that invest directly in securities. The market value of
ETFs and mutual fund shares may differ from their net asset value. Each investment company
and ETF is subject to specific risks, depending on the nature of the fund.</span></td></tr></table></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zn6zI65gtEV5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
and Cash Equivalents Risk: </i>When the Fund is out of the market and invests in cash and
cash equivalents, there is a risk that the market will begin to rise rapidly, and the Fund
will not be able to reinvest its cash positions into areas of the advancing market quickly
enough to capture the initial returns of changing market conditions.</span></td></tr></table></div><div id="xdx_C0F_gRBRTB-DKUKP_z1POsHThGQY5"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zG1YSaUL6nR7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>The net asset value of the Fund will fluctuate based on changes in the
value of the equity securities held by the Fund. Equity prices can fall rapidly in response
to developments affecting a specific company or industry, or to changing economic, political
or market conditions.</span></td></tr></table></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentModelRiskMember_z2PEmzM9k14h">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investment
Model Risk: </i>Like all quantitative analysis, the Adviser’s investment model carries
a risk that the mathematical model used might be based on one or more incorrect assumptions.
No assurance can be given that the Fund will be successful under all or any market conditions.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-DKUKP_zFQ37lxguLza"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationStockRiskMember_zN382G7G4iQd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large
Capitalization Stock Risk: </i>Large-capitalization companies may be less able than smaller
capitalization companies to adapt to changing market conditions. Large-capitalization companies
may be more mature and have limited growth potential compared to smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed
the overall performance of the broader securities markets.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-DKUKP_zW7vMtiOqXxf"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_z63BlT8jx1Zh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
Risk: </i>The Underlying Funds in which the Fund may invest may use leverage including through
use of a line of credit through a bank. Using leverage can magnify a mutual fund’s
potential for gain or loss and therefore, amplify the effects of market volatility on a mutual
fund’s share price.</span></td></tr></table></div><div id="xdx_C00_gRBRTB-DKUKP_zlSdMHFPbygc"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zJWzGS8DJukk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Management
Risk: </i>The Adviser’s reliance on its strategy and judgments about the attractiveness,
value and potential appreciation of particular securities and the tactical allocation among
the Fund’s investments may prove to be incorrect and may not produce the desired results.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-DKUKP_zRXsKnchuLD2"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zumXLapKZNV8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>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’s portfolio may underperform due to inflation (or expectations for inflation),
interest rates, global demand for particular products or resources, natural disasters, climate
change and climate-related events, pandemics, epidemics, terrorism, international conflicts,
tariffs and trade wars, regulatory events and governmental or quasi-governmental actions.
The occurrence of global events similar to those in recent years may result in market volatility
and may have long term effects on both the U.S. and global financial markets.</span></td></tr></table></div><div id="xdx_C01_gRBRTB-DKUKP_z28bAjd2Fnfb"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zAmmcfqpXtu1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire
premium paid if the underlying security or index does not decrease in value. When the Fund
purchases a call option on a security or index it may lose the entire premium paid if the
underlying security or index does not increase in value. The Fund is also exposed to default
if an option writer is unwilling or unable to perform its contractual obligations to the
Fund.</span></td></tr></table></div><div id="xdx_C09_gRBRTB-DKUKP_zoKUxXQ9fdoh"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_z2sKXTVlAfKc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sector
Risk: </i>The Fund may be subject to the risk that its assets are invested in a particular
sector or group of sectors in the economy and as a result, the value of the Fund may be adversely
impacted by events or developments in a sector or group of sectors.</span></td></tr></table></div><div id="xdx_C02_gRBRTB-DKUKP_z3LMDADhy4Cl"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMediumCapitalizationStockRiskMember_zeMTPQbrOMN5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Small
and Medium Capitalization Stock Risk: </i>The price of small or medium capitalization company
stocks may be subject to more abrupt or erratic market movements than larger, more established
companies or the market averages in general.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-DKUKP_znnwbryUk0Zc"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zLo8UD3bBv3d">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Turnover
Risk: </i>A higher portfolio turnover will result in higher transactional and brokerage costs
and may result in higher taxes when Fund shares are held in a taxable account.</span></td></tr></table></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_z450oFXw8e8d">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>ETFs and mutual funds are subject to investment advisory and other expenses,
which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund
will be higher than the cost of investing directly in other investment companies and may
be higher than other mutual funds that invest directly in securities. The market value of
ETFs and mutual fund shares may differ from their net asset value. Each investment company
and ETF is subject to specific risks, depending on the nature of the fund.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Performance:
<p id="xdx_A8E_eoef--PerformanceNarrativeTextBlock_zgicAmBC4Dkg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zY0H7MDxvIT4">The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of
the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class A shares for each of the last ten calendar
years.</span> Although Class I and Investor Class shares would have similar returns to Class A shares because the classes are invested in the
same portfolio of securities, the returns for Class I and Investor Class shares would be different from Class A shares because Class
I and Investor Class shares have different expenses than Class A shares. The performance table compares the performance of the Fund over
time to the performance of a broad-based market index and a supplemental index. <span id="xdx_903_eoef--PerformancePastDoesNotIndicateFuture_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zCUNElZq2iE6">You should be aware that the Fund’s past performance
(before and after taxes) may not be an indication of how the Fund will perform in the future.</span> Updated performance information is available
at no cost by visiting <span style="text-decoration: underline"><span id="xdx_907_eoef--PerformanceAvailabilityWebSiteAddress_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zvjAdZ82dKWl">www.howardcmfunds.com</span></span> or by calling <span id="xdx_90B_eoef--PerformanceAvailabilityPhone_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_ztz4abaGHVx9">1-855-969-8464</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of
the risks of investing in the Fund. The bar chart shows performance of the Fund’s Class A shares for each of the last ten calendar
years.
You should be aware that the Fund’s past performance
(before and after taxes) may not be an indication of how the Fund will perform in the future.
www.howardcmfunds.com
1-855-969-8464
Class
A Performance Bar Chart For Calendar Years Ended December 31
(Returns
do not reflect sales loads and would be lower if they did)
Returns
do not reflect sales loads and would be lower if they did
<div id="xdx_A8D_eoef--BarChartTableTextBlock_zhiZ3pxezC28"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zKqADrGiimHl" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; display: none" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: left">
<td style="width: 10%"> </td>
<td id="xdx_49F_20160101__20161231_z5us9g28G1s9" style="width: 9%">2016</td>
<td id="xdx_495_20170101__20171231_zObmVNXOCxna" style="width: 9%">2017</td>
<td id="xdx_49A_20180101__20181231_zjGUFgRDiU54" style="width: 9%">2018</td>
<td id="xdx_496_20190101__20191231_zWeUoCNpXTbc" style="width: 9%">2019</td>
<td id="xdx_499_20200101__20201231_zSWlSFohymb5" style="width: 9%">2020</td>
<td id="xdx_499_20210101__20211231_z4xCCz0gS845" style="width: 9%">2021</td>
<td id="xdx_494_20220101__20221231_zgHt1Vkt8nVh" style="width: 9%">2022</td>
<td id="xdx_49F_20230101__20231231_zu8uuxzT9T8a" style="width: 9%">2023</td>
<td id="xdx_491_20240101__20241231_zXvSgZMr6JEj" style="width: 9%">2024</td>
<td id="xdx_490_20250101__20251231_zz0zhFmT6wIi" style="width: 9%">2025</td></tr>
<tr id="xdx_402_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member_zdkFDfAdT475" style="vertical-align: top; text-align: left">
<td> </td>
<td>10.54%</td>
<td>33.23%</td>
<td>-6.76%</td>
<td>22.63%</td>
<td>53.28%</td>
<td>39.70%</td>
<td>-38.56%</td>
<td>33.10%</td>
<td>33.84%</td>
<td>17.44%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><img alt="(BAR GRAPH)" src="hc003_v1.jpg"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.1054
0.3323
-0.0676
0.2263
0.5328
0.3970
-0.3856
0.3310
0.3384
0.1744
<div id="xdx_A8D_eoef--BarChartClosingTextBlock_zyuDa6bdCaRg"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 50%; border-collapse: collapse; margin-right: auto">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td id="xdx_986_eoef--HighestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zcRZO5YnmJre" style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Best
Quarter:</span></td>
<td id="xdx_98B_eoef--BarChartHighestQuarterlyReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zPofefIPV98h" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/30/2020</span></td>
<td id="xdx_980_eoef--BarChartHighestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_z42E3GXjttG5" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26.81%</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td id="xdx_988_eoef--LowestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zUlBwn6hBWj3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Worst
Quarter:</span></td>
<td id="xdx_98A_eoef--BarChartLowestQuarterlyReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zzU8eQqx9Bzl" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/31/2018</span></td>
<td id="xdx_98F_eoef--BarChartLowestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zphSY5f8RAp2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-22.06%</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eoef--YearToDateReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zhti25Lb1nmd">The
year-to-date return as of the most recent calendar quarter</span>, which ended <span id="xdx_906_eoef--BarChartYearToDateReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zkRKky9UAHwg">September 30, 2026</span>, was <span id="xdx_905_eoef--BarChartYearToDateReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zu0HcRsF1FFa">10.74%</span>.</span></p>
Best
Quarter:
2020-06-30
0.2681
Worst
Quarter:
2018-12-31
-0.2206
The
year-to-date return as of the most recent calendar quarter
2026-09-30
0.1074
Performance
Table
Average
Annual Total Returns
(For
periods ended December 31, 2025)
<div id="xdx_A84_eoef--PerformanceTableTextBlock_zXfrDGcLst2d"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zsBdBef84qYa" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #C6D9F1">
<td style="border: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 61%; padding-right: 2.9pt; padding-left: 2.9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_492_20250101__20251231_zaVQgcHSBSZd" style="border-top: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 13%; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>One<br/>
Year</b></span></td>
<td id="xdx_495_20210101__20251231_ztmrB5MHlbJ9" style="border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 13%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Five<br/>
Years</b></span></td>
<td id="xdx_49F_20160101__20251231_zAITjj4skOIh" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 13%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>10
Years</b></span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
A shares</b></span></td>
<td style="border-right: black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member_zhtgk1ybGF33" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 8.65pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member_zIayo2rBE0Z">Return
before taxes</span></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.67%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.09%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.89%</span></td></tr>
<tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z9qcxJH37Qe2" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 8.65pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
after taxes on distributions</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.88%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.00%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.09%</span></td></tr>
<tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143207Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zgfPW4483gl" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 8.65pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
after taxes on distributions and sale of Fund shares</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.71%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.39%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.17%</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
I shares</b></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143209Member_zzzX03d2KBri" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 8.65pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143209Member_zp4vXXrmGYWe">Return
before taxes</span></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.74%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.71%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.73%</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor
Class shares</b></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143208Member_zmbJicPMhmXi" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 8.65pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000045942Member__oef--ClassAxis__custom--C000143208Member_zfi8DDa4demg">Return
before taxes</span></span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.56%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.58%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.71%</span></td></tr>
<tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000045942Member__oef--PerformanceMeasureAxis__custom--SAndP500TRIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zEQVjR7tNJgi" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>S&P
500 TR Index</b><sup id="xdx_F47_zHga86XqbMN8">(1)</sup><br/>
(<span id="xdx_909_eoef--IndexNoDeductionForFeesExpensesTaxes_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zdX3fwadNbNk">reflects no deduction for fees, expenses or taxes</span>)</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.88%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.42%</span></td>
<td style="border-right: black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.82%</span></td></tr>
<tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000045942Member__oef--PerformanceMeasureAxis__custom--HFRXEquityHedgeIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zglif8b0cNle" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>HFRX
Equity Hedge Index</b><sup id="xdx_F48_zPL0JGSGeY74">(2)</sup><br/>
(<span id="xdx_909_eoef--IndexNoDeductionForFeesExpensesTaxes_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_z6Vi9TgoJDjc">reflects no deduction for fees, expenses or taxes</span>)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.06%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.61%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.75%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F04_zvnNb8TsAJ1a" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F17_zaGe8zyI5Pei" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
S&P 500 TR Index is a widely accepted, unmanaged index of U.S. stock market performance
which does not take into account charges, fees and other expenses. Investors cannot invest
directly in an index or benchmark.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F0F_zb3BPb4cKZmg" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F15_zGj3p7YnaBF1" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
HFRX Equity Hedge Index is an unmanaged index designed to measure daily performance representative
of long-short equity hedge funds. Indices are adjusted for the reinvestment of capital gains
and income dividends. Investors cannot invest directly in an index or benchmark.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Return
before taxes
0.1067
0.1109
0.1589
0.0988
0.1000
0.1509
0.0671
0.0839
0.1317
Return
before taxes
0.1774
0.1271
0.1673
Return
before taxes
0.1656
0.1158
0.1571
reflects no deduction for fees, expenses or taxes
0.1788
0.1442
0.1482
reflects no deduction for fees, expenses or taxes
0.1006
0.0661
0.0475
<p id="xdx_A80_eoef--PerformanceTableClosingTextBlock_zOTCZRx5yxIc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eoef--PerformanceTableUsesHighestFederalRate_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_z00MYwXMv63j">After-tax
returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state
and local taxes.</span> <span id="xdx_901_eoef--PerformanceTableNotRelevantToTaxDeferred_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_z1siFOytWD24">Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax
returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual
retirement accounts.</span> <span id="xdx_90D_eoef--PerformanceTableOneClassOfAfterTaxShown_c20261028__20261028__dei--LegalEntityAxis__custom--S000045942Member_zrxn3RO2nZAe">After tax returns for the share classes which are not presented will vary from the after-tax returns of Class A
shares.</span></span></p>
After-tax
returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state
and local taxes.
Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax
returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual
retirement accounts.
After tax returns for the share classes which are not presented will vary from the after-tax returns of Class A
shares.
FUND
SUMMARY – HCM MULTI-ASSET PLUS FUND
Investment
Objective:
<p id="xdx_A88_eoef--ObjectivePrimaryTextBlock_zqNxSWBkTqC1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>Total return.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses of the Fund:
<p id="xdx_A8C_eoef--ExpenseNarrativeTextBlock_zgf8DtfAeUod" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">his table describes the fees and expenses that you may pay if you buy, hold and sell shares of the HCM
Multi-Asset Plus Fund (the “Fund”). <b>You may pay other fees, such as brokerage commissions and other fees to financial
intermediaries, which are not reflected in the tables and examples below. </b><span id="xdx_907_eoef--ExpenseBreakpointDiscounts_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member_zRdAsODfMv81">You may qualify for sales charge discounts on purchases
of Class A shares if you and your family invest, or agree to invest in the future, at least $<span id="xdx_90C_eoef--ExpenseBreakpointMinimumInvestmentRequiredAmount_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member_zlWTGc02gznj">25,000</span> in the Fund.</span> More information about
these and other discounts is available from your financial professional and under the heading “<b>How to Purchase Shares”</b>
on page 44 of this Prospectus. In addition, descriptions of the sales load waivers and/or discounts for Class A shares with respect to
certain financial intermediaries are reproduced in “Appendix A: Intermediary-Specific Sales Charge Waivers and Discounts”
to this Prospectus based on information provided by the financial intermediary.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
You may qualify for sales charge discounts on purchases
of Class A shares if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund.
25000
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A8A_eoef--ShareholderFeesTableTextBlock_zMtLdHaMck05"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_ziUGxQ2lqHS3" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 64%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><br/>
</span>Shareholder Fees <br/>
(fees paid directly from your investment)</b></span></td>
<td id="xdx_49F_20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member_z3UwYH8Dx4Mc" style="border-top: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 12%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class<br/>
A</b></span></td>
<td id="xdx_495_20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000213465Member_zjZHnXzCVMEd" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 12%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class<br/>
I</b></span></td>
<td id="xdx_49D_20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174413Member_z4louJanxShk" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 12%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor<br/>
Class</b></span></td></tr>
<tr id="xdx_40D_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zqPyJe0D0Umk" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maximum
Sales Charge (Load) Imposed on Purchases<br/>
(as a % of offering price)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.75%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr id="xdx_400_eoef--MaximumDeferredSalesChargeOverOfferingPrice_dpn_zj6rsSJnbE4l" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maximum
Deferred Sales Charge (Load)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr id="xdx_40F_eoef--RedemptionFeeOverRedemption_dpn_zqVh2guY11Wd" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemption
Fee<br/>
(as a % of amount redeemed if held less than 30 days)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
</table>
0.0575
0
0
0
0
0
0
0
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A80_eoef--AnnualFundOperatingExpensesTableTextBlock_zNv0otmg5WC9"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5D_dU_zxIagyS7ZfOi" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left; width: 64%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual
Fund Operating Expenses <br/>
(expenses that you pay each year as a <br/>
percentage of the value of your investment)</b></span></td>
<td id="xdx_49F_20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member_zgahtN8tD7W2" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 12%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_495_20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000213465Member_zTEVX8ogDgg" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 12%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_49D_20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174413Member_zV5me5AAaQBl" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center; width: 12%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_409_eoef--ManagementFeesOverAssets_dpn_zCa27v6xeBy4" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fees</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.95%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.95%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.95%</span></td></tr>
<tr id="xdx_400_eoef--DistributionAndService12b1FeesOverAssets_dpn_zsgmLsThkKe5" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and Service (12b-1) Fees</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.00%</span></td></tr>
<tr id="xdx_40D_eoef--OtherExpensesOverAssets_dpn_zW1XiwvIq3Q7" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.12%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.12%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.12%</span></td></tr>
<tr id="xdx_40D_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zfVGVqR2IIK5" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 1pt; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F44_zpOVCaiFF6N6">(1)</sup></span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.43%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.43%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.43%</span></td></tr>
<tr id="xdx_407_eoef--ExpensesOverAssets_dpn_zBRYz71tIVGg" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.75%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.50%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.50%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F07_zl5R01CqOJF" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1E_zpEsyZ6v2Dyj" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies,
including exchange traded funds (“ETFs”). <span id="xdx_905_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zH3uhA8uOxBj">The operating expenses in this fee
table will not correlate to the expense ratio in the Fund’s financial highlights because
the financial statements include only the direct operating expenses incurred by the Fund</span>.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0095
0.0095
0.0095
0.0025
0
0.0100
0.0012
0.0012
0.0012
0.0043
0.0043
0.0043
0.0175
0.0150
0.0250
The operating expenses in this fee
table will not correlate to the expense ratio in the Fund’s financial highlights because
the financial statements include only the direct operating expenses incurred by the Fund
Example:
<p id="xdx_A8F_eoef--ExpenseExampleNarrativeTextBlock_zlIoXiM1SQ7d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b>This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those
periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain
the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
<div id="xdx_A8B_eoef--ExpenseExampleWithRedemptionTableTextBlock_zxtLt56hsCu4"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A53_dU_ziuIIRfDNyeb" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 70%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Class</span></b></span></td>
<td id="xdx_48F_eoef--ExpenseExampleYear01_zkxiiX7hrk94" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_481_eoef--ExpenseExampleYear03_zCDHx2YnW49b" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_48D_eoef--ExpenseExampleYear05_z2T4eYgtDnob" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_484_eoef--ExpenseExampleYear10_zdAtGZOvwjpi" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_413_20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member_zEpUFHaK6hNf" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$743</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,094</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,469</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,519</span></td></tr>
<tr id="xdx_419_20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000213465Member_zmt19iQEDAUi" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">I</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$153</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$474</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$818</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,791</span></td></tr>
<tr id="xdx_41F_20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174413Member_z2TlVLUWB9f4" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investor</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$253</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$779</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,331</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,836</span></td></tr>
</table>
743
1094
1469
2519
153
474
818
1791
253
779
1331
2836
Portfolio
Turnover:
<p id="xdx_A8D_eoef--PortfolioTurnoverTextBlock_zSGl2LJrm48a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its
portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held
in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s
performance. For the fiscal year ended June 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_90B_eoef--PortfolioTurnoverRate_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zuOGPvHDtvJ9">114%</span> of the average value of its portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
1.14
Principal
Investment Strategies:
<p id="xdx_A80_eoef--StrategyNarrativeTextBlock_z72VO5oIw4xd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>The Fund seeks to achieve its investment objective through investments in ETFs that invest in foreign (including
emerging markets) and domestic: (i) equity securities of any market capitalization; (ii) fixed income securities of any maturity, duration
and credit quality (including “junk bonds”), “plus” (iii) investment companies (mutual funds, closed-end funds and
ETFs), sometimes referred to in this Prospectus as “Underlying Funds,” including investment companies that use leverage; and
(iv) cash and cash equivalents and put and call options.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adviser (as defined below) uses the HCM – BuyLine<sup>®</sup> (“HCM-BuyLine<sup>®</sup>”), its proprietary
quantitative model, to assist in determining when and which asset classes are bought and sold. The HCM-BuyLine<sup>®</sup> mathematically
attempts to keep the Fund in the strongest sector or sectors at any given time as measured by the model. If a sector weakens, the HCM-BuyLine<sup>®</sup>
suggests a stronger sector into which the Fund should allocate its assets. The model’s calculations are updated daily and evaluated
weekly to determine whether the Fund’s holdings require a reallocation. If a reallocation is required, weaker holdings are replaced
with stronger assets as determined by the model.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adviser uses HCM-BuyLine<sup>®</sup> to determine when the Fund should be in or out of the market. HCM-BuyLine<sup>®</sup> uses
trend analysis to help identify the broad trend in the equity market. When the trend is down, the Adviser reduces the Fund’s exposure
to equities, and, when the trend is up, the Adviser increases the Fund’s exposure to equities. The Adviser uses its discretion
to make tactical allocations and determine how much the Fund will be in or out of the market based on the strength of the trend identified
by HCM-BuyLine<sup>®</sup>. When the Fund is out of the market, it invests in cash and cash equivalents and/or put options to hedge
the portfolio’s equity securities and to reduce volatility. Put options generally have an inverse relationship to the underlying
security on which the option is held. When the Fund is in the market, it invests in equity securities and/or call options. Call options
generally have a direct relationship to the underlying security on which the option is held. The Fund may be invested from 0-100% in
cash and cash equivalents and/or put and call options and 0-100% in equities depending on the strength of the trend identified by HCM-BuyLine<sup>®</sup>.
To respond to adverse market, economic, political or other conditions, the Adviser may temporarily hold more cash and cash equivalents
than indicated by the HCM-BuyLine<sup>®</sup>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adviser maintains the ability to invest a large percentage of the Fund’s holdings in one asset class of the market. The overall
asset allocation of the Fund is not fixed. It can and will change significantly over time as the Adviser decides to buy and sell
any holding of the portfolio in response to changes in the model’s quantitative measures as a means to take advantage of changes
in U.S. and global market trends. The Adviser may engage in frequent buying and selling of the portfolio securities to achieve the Fund’s
investment objectives.</span></p>
<p id="xdx_A84_eoef--RiskTextBlock_gRBRTB-MYD_zkCKWhcqEa39" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund
is not intended to be a complete investment program. Many factors affect the Fund’s net asset value and performance.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zG5rCs0gr085">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
and Cash Equivalents Risk: </i>When the Fund is out of the market and invests in cash and
cash equivalents, there is a risk that the market will begin to rise rapidly, and the Fund
will not be able to reinvest its cash positions into areas of the advancing market quickly
enough to capture the initial returns of changing market conditions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zAYHyPWTLNIa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Duration
Risk: </i>Longer-term securities may be more sensitive to interest rate changes. Rising interest
rates pose a heightened risk to a fund whose portfolios include longer-term fixed income
securities. Effective duration estimates price changes for relatively small changes in rates.
If rates increase significantly, effective duration may tend to understate the drop in a
security’s price. If rates drop significantly, effective duration may tend to overstate
the increase in a security’s price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketsRiskMember_zxNeeKHmYDyi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Emerging
Markets Risk: </i>Emerging market countries may have relatively unstable governments, weaker
economies, and less-developed legal systems with fewer security holder rights. Emerging market
economies may be based on only a few industries and security issuers may be more susceptible
to economic weakness and more likely to default. Emerging market securities also tend to
be less liquid. There may also be less reliable or publicly-available information about emerging
markets due to non-uniform regulatory, auditing or financial recordkeeping standards, which
could cause errors in the implementation of the Fund’s investment strategy. The Fund’s
performance may depend on issues other than those that affect U.S. companies and may be adversely
affected by different rights and remedies associated with emerging market investments, or
the lack thereof, compared to those associated with U.S. companies.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zeH3xSmkKmDg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>Equity securities are susceptible to general stock market fluctuations
and to volatile increases and decreases in value. The equity securities held by the Fund
may experience sudden, unpredictable drops in value or long periods of decline in value.
This may occur because of factors affecting securities markets generally, the equity securities
of a particular sector, or a particular company.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeRiskMember_zhpCrR9xFH18">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fixed
Income Risk: </i>When the Fund invests in fixed income securities, the value of an investment
in the Fund will fluctuate with changes in interest rates. Typically, an increase in interest
rates causes a decline in the value of fixed income securities owned by the Fund. In general,
the market price of fixed income securities with longer maturities will increase or decrease
more in response to changes in interest rates than shorter-term securities. Other risk factors
include credit risk (the debtor may default), extension risk (an issuer may exercise its
right to repay principal on a fixed rate obligation held by the Fund later than expected),
and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest
payments). 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. An increase in interest rates may result in the decline in the
value of the bond investments held by the Fund.</span></td></tr></table></div><p id="xdx_A9B_zSRaVD9S736f" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zTsvgc1iyZQ9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Foreign
Securities Risk: </i>Because the Fund’s investments may include foreign securities,
the Fund is subject to risks beyond those associated with investing in domestic securities.
Foreign companies are generally not subject to the same regulatory requirements of U.S. companies
thereby resulting in less publicly available information about these companies. In addition,
foreign accounting, auditing and financial reporting standards generally differ from those
applicable to U.S. companies.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentModelRiskMember_ztus0LCHp4Wc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investment
Model Risk: </i>Like all quantitative analysis, the Adviser’s investment model carries
a risk that the mathematical model used might be based on one or more incorrect assumptions.
No assurance can be given that the Fund will be successful under all or any market conditions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_zT9sFxZYKumf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest
Rate Risk:</i> The value of the Fund may fluctuate based on changes in interest rates and
market conditions. As interest rates increase, the value of income producing instruments
may decrease. This risk increases as the term of the note increases.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--JunkBondsRiskMember_zAtXmGup8EIf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Junk
Bonds Risk: </i>Lower-quality bonds, known as “high yield” or “junk”
bonds, 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.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationStockRiskMember_zAEPdckBEjR4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large
Capitalization Stock Risk: </i>Large-capitalization companies may be less able than smaller
capitalization companies to adapt to changing market conditions. Large-capitalization companies
may be more mature and have limited growth potential compared to smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed
the overall performance of the broader securities markets.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_zrs5612yerKf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
Risk: </i>The Underlying Funds in which the Fund may invest may use leverage including through
use of a line of credit through a bank. Using leverage can magnify a mutual fund’s
potential for gain or loss and therefore, amplify the effects of market volatility on a mutual
fund’s share price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zCJyGWl4xcec">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Management
Risk: </i>The Adviser’s reliance on its strategy and judgments about the attractiveness,
value and potential appreciation of particular securities and the tactical allocation among
the Fund’s investments may prove to be incorrect and may not produce the desired results.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zNQrXJ23kJH9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>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’s portfolio may underperform due to inflation (or expectations for inflation),
interest rates, global demand for particular products or resources, natural disasters, climate
change and climate-related events, pandemics, epidemics, terrorism, international conflicts,
tariffs and trade wars, regulatory events and governmental or quasi-governmental actions.
The occurrence of global events similar to those in recent years may result in market volatility
and may have long term effects on both the U.S. and global financial markets.</span></td></tr></table></div><p id="xdx_A9A_zdjepX8Bssbf" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zBixtd42394e">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire
premium paid if the underlying security or index does not decrease in value. When the Fund
purchases a call option on a security or index it may lose the entire premium paid if the
underlying security or index does not increase in value. The Fund is also exposed to default
if an option writer is unwilling or unable to perform its contractual obligations to the
Fund.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zGht6JnVSBEg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sector
Risk: </i>The Fund may be subject to the risk that its assets are invested in a particular
sector or group of sectors in the economy and as a result, the value of the Fund may be adversely
impacted by events or developments in a sector or group of sectors.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMediumCapitalizationStockRiskMember_zPwBQgmFEj66">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Small
and Medium Capitalization Stock Risk: </i>The price of small or medium capitalization company
stocks may be subject to more abrupt or erratic market movements than larger, more established
companies or the market averages in general.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zZbKA8N6sPy8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Turnover
Risk: </i>A higher portfolio turnover will result in higher transactional and brokerage costs
and may result in higher taxes when Fund shares are held in a taxable account.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_zTS1lS1zc6fb">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>ETFs are subject to investment advisory and other expenses, which will be
indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher
than the cost of investing directly in other investment companies and may be higher than
other mutual funds that invest directly in securities. The market value of ETF shares may
differ from their net asset value. Each investment company is subject to specific risks,
depending on the nature of the fund.</span></td></tr></table></div>
<div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zG5rCs0gr085">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
and Cash Equivalents Risk: </i>When the Fund is out of the market and invests in cash and
cash equivalents, there is a risk that the market will begin to rise rapidly, and the Fund
will not be able to reinvest its cash positions into areas of the advancing market quickly
enough to capture the initial returns of changing market conditions.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-MYD_zIXP0OM7ic84"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zAYHyPWTLNIa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Duration
Risk: </i>Longer-term securities may be more sensitive to interest rate changes. Rising interest
rates pose a heightened risk to a fund whose portfolios include longer-term fixed income
securities. Effective duration estimates price changes for relatively small changes in rates.
If rates increase significantly, effective duration may tend to understate the drop in a
security’s price. If rates drop significantly, effective duration may tend to overstate
the increase in a security’s price.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-MYD_zOlkjaz3qHN1"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketsRiskMember_zxNeeKHmYDyi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Emerging
Markets Risk: </i>Emerging market countries may have relatively unstable governments, weaker
economies, and less-developed legal systems with fewer security holder rights. Emerging market
economies may be based on only a few industries and security issuers may be more susceptible
to economic weakness and more likely to default. Emerging market securities also tend to
be less liquid. There may also be less reliable or publicly-available information about emerging
markets due to non-uniform regulatory, auditing or financial recordkeeping standards, which
could cause errors in the implementation of the Fund’s investment strategy. The Fund’s
performance may depend on issues other than those that affect U.S. companies and may be adversely
affected by different rights and remedies associated with emerging market investments, or
the lack thereof, compared to those associated with U.S. companies.</span></td></tr></table></div><div id="xdx_C03_gRBRTB-MYD_zCaXVdTu0GI8"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zeH3xSmkKmDg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>Equity securities are susceptible to general stock market fluctuations
and to volatile increases and decreases in value. The equity securities held by the Fund
may experience sudden, unpredictable drops in value or long periods of decline in value.
This may occur because of factors affecting securities markets generally, the equity securities
of a particular sector, or a particular company.</span></td></tr></table></div><div id="xdx_C09_gRBRTB-MYD_zYJFlPhlG6w1"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeRiskMember_zhpCrR9xFH18">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fixed
Income Risk: </i>When the Fund invests in fixed income securities, the value of an investment
in the Fund will fluctuate with changes in interest rates. Typically, an increase in interest
rates causes a decline in the value of fixed income securities owned by the Fund. In general,
the market price of fixed income securities with longer maturities will increase or decrease
more in response to changes in interest rates than shorter-term securities. Other risk factors
include credit risk (the debtor may default), extension risk (an issuer may exercise its
right to repay principal on a fixed rate obligation held by the Fund later than expected),
and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest
payments). 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. An increase in interest rates may result in the decline in the
value of the bond investments held by the Fund.</span></td></tr></table></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zTsvgc1iyZQ9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Foreign
Securities Risk: </i>Because the Fund’s investments may include foreign securities,
the Fund is subject to risks beyond those associated with investing in domestic securities.
Foreign companies are generally not subject to the same regulatory requirements of U.S. companies
thereby resulting in less publicly available information about these companies. In addition,
foreign accounting, auditing and financial reporting standards generally differ from those
applicable to U.S. companies.</span></td></tr></table></div><div id="xdx_C06_gRBRTB-MYD_zHYZtq6lajd9"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentModelRiskMember_ztus0LCHp4Wc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investment
Model Risk: </i>Like all quantitative analysis, the Adviser’s investment model carries
a risk that the mathematical model used might be based on one or more incorrect assumptions.
No assurance can be given that the Fund will be successful under all or any market conditions.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-MYD_zuG4JUUFKqhk"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_zT9sFxZYKumf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest
Rate Risk:</i> The value of the Fund may fluctuate based on changes in interest rates and
market conditions. As interest rates increase, the value of income producing instruments
may decrease. This risk increases as the term of the note increases.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-MYD_zcfLDCwFoSsf"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--JunkBondsRiskMember_zAtXmGup8EIf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Junk
Bonds Risk: </i>Lower-quality bonds, known as “high yield” or “junk”
bonds, 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.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-MYD_zUtQtB7kst5"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationStockRiskMember_zAEPdckBEjR4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large
Capitalization Stock Risk: </i>Large-capitalization companies may be less able than smaller
capitalization companies to adapt to changing market conditions. Large-capitalization companies
may be more mature and have limited growth potential compared to smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed
the overall performance of the broader securities markets.</span></td></tr></table></div><div id="xdx_C00_gRBRTB-MYD_zh31rIeKwNd6"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_zrs5612yerKf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
Risk: </i>The Underlying Funds in which the Fund may invest may use leverage including through
use of a line of credit through a bank. Using leverage can magnify a mutual fund’s
potential for gain or loss and therefore, amplify the effects of market volatility on a mutual
fund’s share price.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-MYD_zO5qQJJaUFn9"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zCJyGWl4xcec">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Management
Risk: </i>The Adviser’s reliance on its strategy and judgments about the attractiveness,
value and potential appreciation of particular securities and the tactical allocation among
the Fund’s investments may prove to be incorrect and may not produce the desired results.</span></td></tr></table></div><div id="xdx_C05_gRBRTB-MYD_zAufAzUi0Fxj"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zNQrXJ23kJH9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>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’s portfolio may underperform due to inflation (or expectations for inflation),
interest rates, global demand for particular products or resources, natural disasters, climate
change and climate-related events, pandemics, epidemics, terrorism, international conflicts,
tariffs and trade wars, regulatory events and governmental or quasi-governmental actions.
The occurrence of global events similar to those in recent years may result in market volatility
and may have long term effects on both the U.S. and global financial markets.</span></td></tr></table></div>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zBixtd42394e">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire
premium paid if the underlying security or index does not decrease in value. When the Fund
purchases a call option on a security or index it may lose the entire premium paid if the
underlying security or index does not increase in value. The Fund is also exposed to default
if an option writer is unwilling or unable to perform its contractual obligations to the
Fund.</span></td></tr></table></div><div id="xdx_C0F_gRBRTB-MYD_zsPnUNkeadrd"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zGht6JnVSBEg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sector
Risk: </i>The Fund may be subject to the risk that its assets are invested in a particular
sector or group of sectors in the economy and as a result, the value of the Fund may be adversely
impacted by events or developments in a sector or group of sectors.</span></td></tr></table></div><div id="xdx_C0E_gRBRTB-MYD_zBWy6ZSTe8hh"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMediumCapitalizationStockRiskMember_zPwBQgmFEj66">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Small
and Medium Capitalization Stock Risk: </i>The price of small or medium capitalization company
stocks may be subject to more abrupt or erratic market movements than larger, more established
companies or the market averages in general.</span></td></tr></table></div><div id="xdx_C00_gRBRTB-MYD_zJl7MXC5xQo6"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zZbKA8N6sPy8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Turnover
Risk: </i>A higher portfolio turnover will result in higher transactional and brokerage costs
and may result in higher taxes when Fund shares are held in a taxable account.</span></td></tr></table></div><div id="xdx_C01_gRBRTB-MYD_zulyXEzyqkvk"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_zTS1lS1zc6fb">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>ETFs are subject to investment advisory and other expenses, which will be
indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher
than the cost of investing directly in other investment companies and may be higher than
other mutual funds that invest directly in securities. The market value of ETF shares may
differ from their net asset value. Each investment company is subject to specific risks,
depending on the nature of the fund.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Performance:
<p id="xdx_A8C_eoef--PerformanceNarrativeTextBlock_zfjyMyh9f705" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b><span id="xdx_90A_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zcASezvASWy1">The
bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks
of investing in the Fund. The bar chart shows performance of the Fund’s Class A shares for each full calendar year since the Fund’s
inception.</span> Although Investor Class and Class I shares would have similar returns to Class A shares because the classes are invested in
the same portfolio of securities, the returns for Investor Class and Class I shares would be different from Class A shares because Investor
Class and Class I shares have different expenses than Class A shares. The performance table compares the performance of the Fund over
time to the performance of a broad-based market index. <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zgI2Wek3dZJj">You should be aware that the Fund’s past performance (before and after taxes)
may not be an indication of how the Fund will perform in the future. </span>Updated performance information is available at no cost by visiting
<span style="text-decoration: underline"><span id="xdx_902_eoef--PerformanceAvailabilityWebSiteAddress_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zWAmIqaJbXHk">www.howardcmfunds.com</span></span> or by calling <span id="xdx_90F_eoef--PerformanceAvailabilityPhone_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zClGYFAgN2p">1-855-969-8464</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks
of investing in the Fund. The bar chart shows performance of the Fund’s Class A shares for each full calendar year since the Fund’s
inception.
You should be aware that the Fund’s past performance (before and after taxes)
may not be an indication of how the Fund will perform in the future.
www.howardcmfunds.com
1-855-969-8464
Class
A Performance Bar Chart For Calendar Years Ended December 31
(Returns
do not reflect sales loads and would be lower if they did)
<div id="xdx_A8B_eoef--BarChartTableTextBlock_zEOWOtSi3awl"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5E_dU_zePPTV2t86w4" style="font: 10pt Arial, Helvetica, Sans-Serif; display: none; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: center">
<td style="text-align: center; width: 10%"> </td>
<td id="xdx_495_20170101__20171231_zgqm4b8R0UL8" style="text-align: center; width: 10%">2017</td>
<td id="xdx_49B_20180101__20181231_z3iDVtxjm2w" style="text-align: center; width: 10%">2018</td>
<td id="xdx_49D_20190101__20191231_zat6M4CEhOhk" style="text-align: center; width: 10%">2019</td>
<td id="xdx_490_20200101__20201231_zNhMrlciSxP" style="text-align: center; width: 10%">2020</td>
<td id="xdx_496_20210101__20211231_zjUdy0aytnS4" style="text-align: center; width: 10%">2021</td>
<td id="xdx_49B_20220101__20221231_z0RYaT1oZNsa" style="text-align: center; width: 10%">2022</td>
<td id="xdx_490_20230101__20231231_zgOAbIskNWHd" style="text-align: center; width: 10%">2023</td>
<td id="xdx_49A_20240101__20241231_zbU0545xSCYf" style="text-align: center; width: 10%">2024</td>
<td id="xdx_496_20250101__20251231_zkMLW3LmjHKe" style="text-align: center; width: 10%">2025</td></tr>
<tr id="xdx_404_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member_zU7nZmdsW9Ii" style="vertical-align: top; text-align: center">
<td> </td>
<td>8.58%</td>
<td>-4.01%</td>
<td>15.48%</td>
<td>40.49%</td>
<td>9.86%</td>
<td>-24.43%</td>
<td>21.53%</td>
<td>20.41%</td>
<td>15.87%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><img alt="(BAR GRAPH)" src="hc004_v1.jpg"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0858
-0.0401
0.1548
0.4049
0.0986
-0.2443
0.2153
0.2041
0.1587
<div id="xdx_A88_eoef--BarChartClosingTextBlock_zhknpqrRX6R2"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 50%; border-collapse: collapse; margin-right: auto">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td id="xdx_988_eoef--HighestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zZi2QEXbyJe" style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 7pt; text-align: center; text-indent: -7pt">Best Quarter:</td>
<td id="xdx_988_eoef--BarChartHighestQuarterlyReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zzPTz43ALAk8" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 7pt; text-align: center; text-indent: -7pt">6/30/2020</td>
<td id="xdx_989_eoef--BarChartHighestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zjXSm0gZ3MTb" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 7pt; text-align: center; text-indent: -7pt">19.42%</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td id="xdx_988_eoef--LowestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zVKvW08Rbng6" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 7pt; text-align: center; text-indent: -7pt">Worst Quarter:</td>
<td id="xdx_98C_eoef--BarChartLowestQuarterlyReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_z2zYUvKkVhS2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 7pt; text-align: center; text-indent: -7pt">6/30/2022</td>
<td id="xdx_980_eoef--BarChartLowestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zkiWW33nUHwb" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 7pt; text-align: center; text-indent: -7pt">-12.10%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eoef--YearToDateReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zI1DqtRopBcb">The
year-to-date return as of the most recent calendar quarter</span>, which ended <span id="xdx_909_eoef--BarChartYearToDateReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zTLI5kDTimAk">September 30, 2026</span>, was <span id="xdx_907_eoef--BarChartYearToDateReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zgd6IHJ4w86c">9.76%</span>.</span></p>
Best Quarter:
2020-06-30
0.1942
Worst Quarter:
2022-06-30
-0.1210
The
year-to-date return as of the most recent calendar quarter
2026-09-30
0.0976
Performance
Table
Average
Annual Total Returns
(For
periods ended December 31, 2025)
<div id="xdx_A86_eoef--PerformanceTableTextBlock_z3qd0RwblRqh"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zQM2hJO0SL9i" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 48%; padding-right: 2.9pt; padding-left: 2.9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_496_20250101__20251231_zRN3x4GlaAG1" style="border-top: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 13%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>One
<br/>
Year</b></span></td>
<td id="xdx_497_20210101__20251231_zurMCX3LlpKd" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 13%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Five<br/>
Years</b></span></td>
<td id="xdx_494_20161109__20251231_zYLHBeNLl7l8" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 13%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since<br/>
Inception<sup id="xdx_F52_z1MiJyyRIf5c">(1)</sup></b></span></td>
<td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 13%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since<br/>
Inception<sup id="xdx_F54_zpL3QtNflSec">(2)</sup></b></span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
A shares</b></span></td>
<td style="border-right: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; text-align: center; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member_zrmg5LAmyd4d" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member_zJp1Wvwx2Zab">Return
before taxes</span></span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.19%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.82%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.26%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td></tr>
<tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zIv1ivIsp5Kj" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
after taxes on distributions</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.66%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.99%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.35%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td></tr>
<tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zYFkuIqYu6W1" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
after taxes on distributions and sale of Fund shares</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.51%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.35%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.17%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor
Class shares</b></span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174413Member_zhJSOz1F6Ga5" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_904_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174413Member_zp9LiLLttSfd">Return
before taxes</span></span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.06%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.28%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.17%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
I shares</b></span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000213465Member_zONZUaNovRz7">Return
before taxes</span></span></td>
<td id="xdx_981_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000213465Member_zyCGCsQKUlrg" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.33%</span></td>
<td id="xdx_983_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000213465Member_zIrCTe2ucr6j" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.38%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">N/A</span></td>
<td id="xdx_986_eoef--AvgAnnlRtrPct_dp_c20190911__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000213465Member_fKDIp_z4i3UzINByGj" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.85%</span></td></tr>
<tr id="xdx_403_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000055429Member__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zbur4Ig0GJIg" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bloomberg
US Aggregate Bond Index</b><sup id="xdx_F44_zfTRNVv1xmQc">(3)</sup><b><br/>
</b>(<span id="xdx_90F_eoef--IndexNoDeductionForFeesExpensesTaxes_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zoNvJS9kkzmd">reflects no deduction for fees, expenses or taxes</span>)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.30%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">-0.36%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.78%</span></td>
<td id="xdx_980_eoef--AvgAnnlRtrPct_dp_c20190911__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_fKDIpICgzKQ_____zl8U6t2nJbf2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.97%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F05_zXThQ2zkcCVl" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F17_z5EGaWrH7dXj" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
Fund’s Class A and Investor Class shares commenced operations on <span id="xdx_901_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174412Member_zpZ8I63gMeg9"><span id="xdx_90D_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000213465Member_z5WZyz3U1O7i">November 9, 2016</span></span>.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F00_znShBJ4H1Gn3" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1D_z7Ptd61OUbTi" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
Fund’s Class I shares commenced operations on <span id="xdx_906_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000055429Member__oef--ClassAxis__custom--C000174413Member_zkbFQ4R1Lgbe">September 11, 2019</span>.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F0D_zQtEGfnLCZG5" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(3)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1F_ztAtA9zFzu62" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
Bloomberg US Aggregate Bond Index is a market capitalization-weighted index, meaning the
securities in the index are weighted according to the market size of each bond type. The
index includes treasury securities, government agency bonds, mortgage-backed bonds, corporate
bonds, and a small amount of foreign bonds traded in the U.S. Investors cannot invest directly
in an index or benchmark.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Return
before taxes
0.0919
0.0582
0.0926
0.0766
0.0499
0.0835
0.0551
0.0435
0.0717
Return
before taxes
0.1506
0.0628
0.0917
Return
before taxes
0.1633
0.0738
0.1285
reflects no deduction for fees, expenses or taxes
0.0730
-0.0036
0.0178
0.0097
2016-11-09
2016-11-09
2019-09-11
<p id="xdx_A8A_eoef--PerformanceTableClosingTextBlock_zqqiodoEasDe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eoef--PerformanceTableUsesHighestFederalRate_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zcXn4IfdUHI8">After-tax
returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state
and local taxes.</span> <span id="xdx_90F_eoef--PerformanceTableNotRelevantToTaxDeferred_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_z91dETQGrK07">Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax
returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual
retirement accounts.</span> <span id="xdx_908_eoef--PerformanceTableOneClassOfAfterTaxShown_c20261028__20261028__dei--LegalEntityAxis__custom--S000055429Member_zbuI0X975wbd">After tax returns for the share classes which are not presented will vary from the after-tax returns of Class A
shares.</span></span></p>
After-tax
returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state
and local taxes.
Actual after-tax returns depend on an investor’s tax situation and may differ from those shown, and after-tax
returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or individual
retirement accounts.
After tax returns for the share classes which are not presented will vary from the after-tax returns of Class A
shares.
FUND
SUMMARY – HCM DYNAMIC INCOME FUND
Investment
Objective:
<p id="xdx_A82_eoef--ObjectivePrimaryTextBlock_zu6SGGasABe4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>Total return.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses of the Fund:
<p id="xdx_A85_eoef--ExpenseNarrativeTextBlock_z0cBMzHSJAa1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the HCM
Dynamic Income Fund (the “Fund”). <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries,
which are not reflected in the tables and examples below. </b><span id="xdx_90B_eoef--ExpenseBreakpointDiscounts_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member_z4dVDx1Z3VMe">You may qualify for sales charge discounts on purchases of Class A shares
if you and your family invest, or agree to invest in the future, at least $<span id="xdx_908_eoef--ExpenseBreakpointMinimumInvestmentRequiredAmount_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member_zWmePJJ69Reg">25,000</span> in the Fund.</span> More information about these and other
discounts is available from your financial professional and in <b>How to Purchase Shares</b> on page 44 of the Prospectus. In addition,
descriptions of the sales load waivers and/or discounts for Class A shares with respect to certain financial intermediaries are reproduced
in “Appendix A: Intermediary-Specific Sales Charge Waivers and Discounts” to this Prospectus based on information provided
by the financial intermediary.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
You may qualify for sales charge discounts on purchases of Class A shares
if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund.
25000
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A80_eoef--ShareholderFeesTableTextBlock_zxqh95V2Raf1"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zKwf73ho92X" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 64%; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline"><br/>
</span>Shareholder Fees <br/>
(fees paid directly from your investment)</b></span></td>
<td id="xdx_49B_20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member_z6qRY3LY2QNf" style="border-top: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; width: 12%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class<br/>
A</b></span></td>
<td id="xdx_496_20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236512Member_zUowGEIRpVF1" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 12%; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class<br/>
I</b></span></td>
<td id="xdx_49B_20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236510Member_zBTHYVwK7opc" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 12%; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor<br/>
Class</b></span></td></tr>
<tr id="xdx_40A_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zqjKs7NuvYg4" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maximum
Sales Charge (Load) Imposed on Purchases<br/>
(as a % of offering price)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.75%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr id="xdx_409_eoef--MaximumDeferredSalesChargeOverOfferingPrice_dpn_zpQwkAOwGZi6" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maximum
Deferred Sales Charge (Load)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr id="xdx_401_eoef--RedemptionFeeOverRedemption_dpn_zKzQCyazUFcg" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Redemption
Fee<br/>
(as a % of amount redeemed if held less than 30 days)</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
</table>
0.0575
0
0
0
0
0
0
0
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A84_eoef--AnnualFundOperatingExpensesTableTextBlock_zvsSD6GBrVqd"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_z4RKQCxzoGn9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left; width: 64%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual
Fund Operating Expenses <br/>
(expenses that you pay each year as a <br/>
percentage of the value of your investment)</b></span></td>
<td id="xdx_49B_20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member_zXxF46fTSyz7" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center; width: 12%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_496_20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236512Member_zta6EC5ctVL" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center; width: 12%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_49B_20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236510Member_zHerc5biIb71" style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center; width: 12%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_401_eoef--ManagementFeesOverAssets_dpn_zDCWoKCdClwd" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fees</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.25%</span></td></tr>
<tr id="xdx_405_eoef--DistributionAndService12b1FeesOverAssets_dpn_zFwBmiC2hTYe" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and Service (12b-1) Fees</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.25%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.00%</span></td></tr>
<tr id="xdx_40A_eoef--OtherExpensesOverAssets_dpn_z5vPWEeJI2t5" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses </span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.34%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.34%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.34%</span></td></tr>
<tr id="xdx_400_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zxKeEnL5y0fi" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F46_zUsNcCFJHyp">(1)</sup></span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.35%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.35%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.35%</span></td></tr>
<tr id="xdx_40A_eoef--ExpensesOverAssets_dpn_zuWT7Ln8SVTh" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.19%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.94%</span></td>
<td style="border-right: Black 1pt solid; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 4.3pt; padding-left: 4.3pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.94%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F08_zPwN0SFsZsCj" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F1E_zRrdAM5EWFA5" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies,
including exchange traded funds (“ETFs”). <span id="xdx_907_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zEiImGYbkUO4">The operating expenses in this fee
table will not correlate to the expense ratio in the Fund’s financial highlights because
the financial statements include only the direct operating expenses incurred by the Fund.</span></span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0125
0.0125
0.0125
0.0025
0
0.0100
0.0034
0.0034
0.0034
0.0035
0.0035
0.0035
0.0219
0.0194
0.0294
The operating expenses in this fee
table will not correlate to the expense ratio in the Fund’s financial highlights because
the financial statements include only the direct operating expenses incurred by the Fund.
Example:
<p id="xdx_A8D_eoef--ExpenseExampleNarrativeTextBlock_zm0CqspIinng" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b>This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those
periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain
the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
<div id="xdx_A8C_eoef--ExpenseExampleWithRedemptionTableTextBlock_zcqmC0ZG23o4"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zHk4iWEdgcaa" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 70%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">Class</span></b></span></td>
<td id="xdx_483_eoef--ExpenseExampleYear01_zsPfcCnu4ZH5" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_485_eoef--ExpenseExampleYear03_zM6DTwgKPSCk" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_481_eoef--ExpenseExampleYear05_zr8pSEcFUPa8" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_486_eoef--ExpenseExampleYear10_zmkitC1sVj22" style="font: 10pt Times New Roman, Times, Serif; width: 10%; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_412_20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member_zkXJIEjPy2vc" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$784</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,221</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,682</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,954</span></td></tr>
<tr id="xdx_412_20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236512Member_zCyYbRr6MwL" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">I</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$197</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$609</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,047</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$2,264</span></td></tr>
<tr id="xdx_415_20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236510Member_zvxvKaF0Xrme" style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investor</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$297</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$910</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,548</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 0.75pt; padding-left: 0.75pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$3,261</span></td></tr>
</table>
784
1221
1682
2954
197
609
1047
2264
297
910
1548
3261
Portfolio
Turnover:
<p id="xdx_A86_eoef--PortfolioTurnoverTextBlock_zWEw0Gc23aVl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its
portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held
in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s
performance. For the fiscal year ended June 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_906_eoef--PortfolioTurnoverRate_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zzoSVwCxeCtk">97%</span> of the average value of its portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.97
Principal
Investment Strategies:
<p id="xdx_A86_eoef--StrategyNarrativeTextBlock_zWD0FCJBhEnc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>The Fund seeks to achieve its investment objective through investments in long and/or short positions in fixed
income securities. The Fund defines fixed income securities as (i) bills, (ii) notes, (iii) structured notes, (iv) bonds, (v) convertible
bonds, or (vi) any other debt or debt-related securities, whether issued by U.S. or non-U.S. governments, U.S. or non-U.S. agencies or
instrumentalities, or corporate entities, and having fixed, variable, floating or inverse floating rates. The Fund may invest in debt
securities of any maturity or credit quality, including those rated below investment grade (“high yield securities”). Below
investment grade debt securities are those rated below Baa3 by Moody’s Investors Service or the equivalent of a nationally recognized
statistical rating organization. The Fund invests indirectly in fixed income securities by investing in mutual funds, exchange traded
funds or inverse exchange traded funds (sometimes referred to in this Prospectus as “Underlying Funds”), including investment
companies that use leverage that invest primarily in fixed income securities. The Fund may also invest in derivatives, including options,
financial futures, options on futures and swaps.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adviser (as defined below) uses HCM-BuyLine<sup>®</sup> for Income (“HCM-BuyLine<sup>®</sup>”), its proprietary quantitative
model, to assist in determining when and which asset classes are bought and sold. The model’s calculations are updated daily and
evaluated weekly to determine whether the Fund’s holdings require a reallocation. If a reallocation is required, weaker holdings
are replaced with stronger assets as determined by the model.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adviser uses HCM-BuyLine<sup>®</sup> to make tactical allocations and determine when the Fund should be in or out of fixed income
securities. HCM-BuyLine<sup>®</sup> uses trend analysis to identify the broad trend in the fixed income market and which fixed income
asset class is currently favored by the market. When the trend is up, the Adviser increases the Fund’s exposure to fixed income.
When the trend is down, the Adviser starts to reduce the Fund’s exposure to fixed income. When the Fund is out of the fixed income
security market, it invests in (i) put options to hedge the portfolio’s fixed income securities and reduce volatility, (ii) equity
index futures, and/or (iii) cash and cash equivalents. Put options generally have an inverse relationship to the underlying security
on which the option is held (<i>i.e.,</i> when the value of the underlying security increases, the value of the put option decreases).
When the Fund is in the fixed income security market, it invests in fixed income securities and/or call options. Call options generally
have a direct relationship to the underlying security on which the option is held (<i>i.e.</i>, when the value of the underlying security
increases, the value of the call option increases). The Fund may have 0-100% in direct and indirect investments in fixed income securities
depending on the strength of the trend identified by the HCM-BuyLine<sup>®</sup>. To respond to adverse market, economic, political
or other conditions, the Adviser may temporarily hold more cash and cash equivalents than indicated by the HCM-BuyLine<sup>®</sup>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adviser maintains the ability to invest a large percentage of the Fund’s holdings in one asset class of the market. The overall
asset allocation of the Fund is not fixed. It changes dynamically as the Adviser decides to buy and sell any holding of the portfolio
in response to changes in the model’s quantitative measures as a means to take advantage of changes in U.S. and global market trends.
The Adviser may engage in frequent buying and selling of the portfolio securities to achieve the Fund’s objective.</span></p>
<p id="xdx_A80_eoef--RiskTextBlock_gRBRTB-IQM_zwCQN65g8lJj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund
is not intended to be a complete investment program. Many factors affect the Fund’s net asset value and performance.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zewuAG63D9oj">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
and Cash Equivalents Risk: </i>When the Fund is out of the market and invests in cash and
cash equivalents, there is a risk that the market will begin to rise rapidly, and the Fund
will not be able to reinvest its cash positions into areas of the advancing market quickly
enough to capture the initial returns of changing market conditions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConvertibleBondRiskMember_z5lrMQgI8HJ9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Convertible
Bond Risk: </i>Convertible bonds are hybrid securities that have characteristics of both
bonds and common stocks and are subject to fixed income security risks and conversion value-related
equity risk. Convertible bonds are similar to other fixed-income securities because they
usually pay a fixed interest rate and are obligated to repay principal on a given date in
the future.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--DebtInstrumentRiskMember_z7MBInZqj28i">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Debt
Instrument Risk: </i>The Fund may invest in, or seek exposure to, debt instruments. Debt
instruments may have varying levels of sensitivity to changes in interest rates, credit risk
and other factors. Many types of debt instruments are subject to prepayment risk, which is
the risk that the issuer of the security will repay principal prior to the maturity date.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zpiqiB7dPWpc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Duration
Risk: </i>Longer-term securities may be more sensitive to interest rate changes. Rising interest
rates pose a heightened risk to a fund whose portfolio includes longer-term fixed income
securities. Effective duration estimates price changes for relatively small changes in rates.
If rates increase significantly, effective duration may tend to understate the drop in a
security’s price. If rates drop significantly, effective duration may tend to overstate
the increase in a security’s price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zqmDx0lLnFe7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>Equity securities are susceptible to general stock market fluctuations
and to volatile increases and decreases in value. The equity securities held by the Fund
may experience sudden, unpredictable drops in value or long periods of decline in value.
This may occur because of factors affecting securities markets generally, the equity securities
of a particular sector, or a particular company.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeRiskMember_z0NZkn3XcdWf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fixed
Income Risk: </i>When the Fund invests in fixed income securities, the value of your investment
in the Fund will fluctuate with changes in interest rates. Typically, an increase in interest
rates causes a decline in the value of fixed income securities owned by the Fund. In general,
the market price of fixed income securities with longer maturities will increase or decrease
more in response to changes in interest rates than shorter-term securities. Other risk factors
include credit risk (the debtor may default), extension risk (an issuer may exercise its
right to repay principal on a fixed rate obligation held by the Fund later than expected),
and prepayment risk (the debtor may pay its obligation early, reducing the amount of
interest payments). 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. An increase in interest rates may result in the decline
in the value of the bond investments held by the Fund.</span></td></tr></table></div><p id="xdx_A99_ztJ0qShNzMKj" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zJ9Jx6zQaaY9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Foreign
Securities Risk: </i>Because the Fund’s investments may include foreign securities,
the Fund is subject to risks beyond those associated with investing in domestic securities.
Foreign companies are generally not subject to the same regulatory requirements of U.S. companies
thereby resulting in less publicly available information about these companies. In addition,
foreign accounting, auditing and financial reporting standards generally differ from those
applicable to U.S. companies.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesContractsRiskMember_zVpIAmKaqril">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Contracts Risk: </i>The Fund’s use of futures contracts involves risks different from,
or possibly greater than, the risks associated with investing directly in securities and
other traditional investments. These risks include (i) leverage risk; (ii) correlation or
tracking risk and (iii) liquidity risk. Because futures contracts require only a small initial
investment in the form of a deposit or margin, they involve a high degree of leverage.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--GovernmentSponsoredEntitiesRiskMember_zz1hwhszqiMi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Government-Sponsored
Entities Risk: </i>The Fund invests in securities issued or guaranteed by government-sponsored
entities, but these securities may not be guaranteed or insured by the U.S. government and
may only be supported by the credit of the issuing agency.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--HedgingRiskMember_zoz1D7lIHn7h">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Hedging
Risk: </i>When the Adviser believes market conditions are unfavorable, the Adviser may attempt
to “hedge” with defensive positions and strategies including, for example, holding
substantial positions in lower-yield fixed-income securities and/or cash equivalents, which
may limit potential gains when compared to unhedged funds. There can be no assurance that
the Fund’s hedging strategy will reduce the risk of the Fund’s investments.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_zd3nlssX5df2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest
Rate Risk: </i>The value of the Fund may fluctuate based on changes in interest rates and
market conditions. As interest rates increase, the value of income producing instruments
may decrease. This risk increases as the term of the note increases.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--InverseETFRiskMember_z9X3UgRKbJhi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Inverse
ETF Risk: </i>Investing in inverse ETFs may result in increased volatility and will magnify
the Fund’s losses or gains. Inverse ETFs will prevent the Fund from participating in
market-wide or sector-wide gains. Inverse ETFs may be ineffective hedging vehicles because
their price changes may not be highly correlated to the Fund’s assets they are intended
to hedge. Inverse ETFs are funds designed to increase in price when stock prices are falling.
Inverse funds seek daily investment results, before fees and expenses, which correspond to
the inverse (opposite) of the daily performance of a specific benchmark. Most inverse ETFs
reset daily (meaning they aim to achieve their stated objective daily). Accordingly, their
performance over longer terms can perform very differently than underlying assets and benchmarks,
and volatile markets can amplify this effect. During periods of market volatility, inverse
ETFs may not perform as expected.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentModelRiskMember_zZyBsi0PtsK2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investment
Model Risk: </i>Like all quantitative analysis, the Adviser’s investment model carries
a risk that the mathematical model used might be based on one or more incorrect assumptions.
No assurance can be given that the Fund will be successful under all or any market conditions.</span></td></tr></table></div><p id="xdx_A91_zJDikebyfHwa" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--JunkBondsRiskMember_zBofHm3EOlNg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Junk
Bonds Risk: </i>Lower-quality bonds, known as “high yield” or “junk”
bonds, 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.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationStockRiskMember_zvLn2R9fowg4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large
Capitalization Stock Risk: </i>Large-capitalization companies may be less able than smaller
capitalization companies to adapt to changing market conditions. Large-capitalization companies
may be more mature and have limited growth potential compared to smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed
the overall performance of the broader securities markets.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_zcYYxUVnzOF3">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
Risk: </i>The use of leverage by the Fund, such as borrowing money to purchase securities
or the use of options, will cause the Fund to incur additional expenses and magnify the Fund’s
gains or losses.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zolb47ejLAJa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Management
Risk: </i>The Adviser’s reliance on its strategy and judgments about the attractiveness,
value and potential appreciation of particular securities and the tactical allocation among
the Fund’s investments may prove to be incorrect and may not produce the desired results.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zds2zwtA7GIe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>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’s portfolio may underperform due to inflation (or expectations for inflation),
interest rates, global demand for particular products or resources, natural disasters, climate
change and climate-related events, pandemics, epidemics, terrorism, international conflicts,
tariffs and trade wars, regulatory events and governmental or quasi-governmental actions.
The occurrence of global events similar to those in recent years may result in market volatility
and may have long term effects on both the U.S. and global financial markets.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zUSZnngBCVU8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire
premium paid if the underlying security or index does not decrease in value. When the Fund
purchases a call option on a security or index it may lose the entire premium paid if the
underlying security or index does not increase in value. The Fund is also exposed to default
if an option writer is unwilling or unable to perform its contractual obligations to the
Fund.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsOnFuturesContractsRiskMember_zDjEPILooGfi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
on Futures Contracts Risk: </i>The Fund may enter into options on futures contracts. An option
on a futures contract gives the buyer, in return for the premium paid, the right (but not
the obligation) to either buy or sell the underlying futures contract during a certain period
of time for a fixed price. The writing of a put or call option on a futures contract involves
risks similar to the risks applicable to the purchase or sale of futures contracts.</span></td></tr></table></div><p id="xdx_A90_z3TVN7d2FBr6" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ShortPositionRiskMember_zFmNGxAYIqV8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Short
Position Risk: </i>The Fund’s short positions may result in a loss if the price of
the short position instruments rises and it costs more to replace the short positions. In
contrast to the Fund’s long positions, for which the risk of loss is typically limited
to the amount invested, the potential loss on the Fund’s short positions is potentially
large. Market factors may prevent the Fund from closing out a short position at the most
desirable time or at a favorable price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMediumCapitalizationStockRiskMember_zy2icUSK5Qdf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Small
and Medium Capitalization Stock Risk: </i>The price of small or medium capitalization company
stocks may be subject to more abrupt or erratic market movements than larger, more established
companies or the market averages in general.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--StructuredNotesRiskMember_zUxyKgTcrbpc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Structured
Notes Risk: </i>Structured notes are typically issued by banks or brokerage firms, and have
interest and/or principal payments which are linked to changes in the price level of certain
assets or to the price performance of certain indices. The value of a structured note is
influenced by time to maturity, level of supply and demand for this type of note, interest
rate and market volatility, changes in the issuer’s credit quality rating, and economic,
legal, or political events that affect the industry. Structured notes may involve leverage
risk, tracking risk and issuer default risk. In addition, there may be a lag between a change
in the value of the underlying reference asset and the value of the structured note. Structured
notes may also be subject to counterparty risk. The Fund may also be exposed to increased
transaction costs when it seeks to sell such notes in the secondary market.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--SwapsRiskMember_znoOL6yGFn15">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Swaps
Risk: </i>A counterparty to a swap agreement may default on its obligation to pay the Fund
and the Fund may not be able to meet its obligations to pay the counterparty to the swap.
Swap agreements may also involve fees, commissions or other costs that may reduce the Fund’s
gains from a swap agreement or may cause the Fund to lose money.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zxthUtwtWYt6">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Turnover
Risk: </i>A higher portfolio turnover will result in higher transactional and brokerage costs
and may result in higher taxes when Fund shares are held in a taxable account.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_zoaz9M87Mdx">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>ETFs are subject to investment advisory and other expenses, which will be
indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher
than the cost of investing directly in other investment companies and may be higher than
other mutual funds that invest directly in securities. The market value of ETF shares may
differ from their net asset value. Each investment company is subject to specific risks,
depending on the nature of the fund.</span></td></tr></table></div>
<div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zewuAG63D9oj">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
and Cash Equivalents Risk: </i>When the Fund is out of the market and invests in cash and
cash equivalents, there is a risk that the market will begin to rise rapidly, and the Fund
will not be able to reinvest its cash positions into areas of the advancing market quickly
enough to capture the initial returns of changing market conditions.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-IQM_z4wfXmsAKpb2"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConvertibleBondRiskMember_z5lrMQgI8HJ9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Convertible
Bond Risk: </i>Convertible bonds are hybrid securities that have characteristics of both
bonds and common stocks and are subject to fixed income security risks and conversion value-related
equity risk. Convertible bonds are similar to other fixed-income securities because they
usually pay a fixed interest rate and are obligated to repay principal on a given date in
the future.</span></td></tr></table></div><div id="xdx_C0E_gRBRTB-IQM_zli9KfKDe5c3"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--DebtInstrumentRiskMember_z7MBInZqj28i">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Debt
Instrument Risk: </i>The Fund may invest in, or seek exposure to, debt instruments. Debt
instruments may have varying levels of sensitivity to changes in interest rates, credit risk
and other factors. Many types of debt instruments are subject to prepayment risk, which is
the risk that the issuer of the security will repay principal prior to the maturity date.</span></td></tr></table></div><div id="xdx_C0F_gRBRTB-IQM_zsWodoelpM83"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zpiqiB7dPWpc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Duration
Risk: </i>Longer-term securities may be more sensitive to interest rate changes. Rising interest
rates pose a heightened risk to a fund whose portfolio includes longer-term fixed income
securities. Effective duration estimates price changes for relatively small changes in rates.
If rates increase significantly, effective duration may tend to understate the drop in a
security’s price. If rates drop significantly, effective duration may tend to overstate
the increase in a security’s price.</span></td></tr></table></div><div id="xdx_C05_gRBRTB-IQM_zWlnIYlZnvlc"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zqmDx0lLnFe7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>Equity securities are susceptible to general stock market fluctuations
and to volatile increases and decreases in value. The equity securities held by the Fund
may experience sudden, unpredictable drops in value or long periods of decline in value.
This may occur because of factors affecting securities markets generally, the equity securities
of a particular sector, or a particular company.</span></td></tr></table></div><div id="xdx_C09_gRBRTB-IQM_zSizDiXA9Fge"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeRiskMember_z0NZkn3XcdWf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fixed
Income Risk: </i>When the Fund invests in fixed income securities, the value of your investment
in the Fund will fluctuate with changes in interest rates. Typically, an increase in interest
rates causes a decline in the value of fixed income securities owned by the Fund. In general,
the market price of fixed income securities with longer maturities will increase or decrease
more in response to changes in interest rates than shorter-term securities. Other risk factors
include credit risk (the debtor may default), extension risk (an issuer may exercise its
right to repay principal on a fixed rate obligation held by the Fund later than expected),
and prepayment risk (the debtor may pay its obligation early, reducing the amount of
interest payments). 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. An increase in interest rates may result in the decline
in the value of the bond investments held by the Fund.</span></td></tr></table></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zJ9Jx6zQaaY9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Foreign
Securities Risk: </i>Because the Fund’s investments may include foreign securities,
the Fund is subject to risks beyond those associated with investing in domestic securities.
Foreign companies are generally not subject to the same regulatory requirements of U.S. companies
thereby resulting in less publicly available information about these companies. In addition,
foreign accounting, auditing and financial reporting standards generally differ from those
applicable to U.S. companies.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-IQM_zSJGgWIEAxCe"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesContractsRiskMember_zVpIAmKaqril">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Contracts Risk: </i>The Fund’s use of futures contracts involves risks different from,
or possibly greater than, the risks associated with investing directly in securities and
other traditional investments. These risks include (i) leverage risk; (ii) correlation or
tracking risk and (iii) liquidity risk. Because futures contracts require only a small initial
investment in the form of a deposit or margin, they involve a high degree of leverage.</span></td></tr></table></div><div id="xdx_C06_gRBRTB-IQM_zaW3507AK8C5"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--GovernmentSponsoredEntitiesRiskMember_zz1hwhszqiMi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Government-Sponsored
Entities Risk: </i>The Fund invests in securities issued or guaranteed by government-sponsored
entities, but these securities may not be guaranteed or insured by the U.S. government and
may only be supported by the credit of the issuing agency.</span></td></tr></table></div><div id="xdx_C0B_gRBRTB-IQM_z71fTR532rr8"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--HedgingRiskMember_zoz1D7lIHn7h">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Hedging
Risk: </i>When the Adviser believes market conditions are unfavorable, the Adviser may attempt
to “hedge” with defensive positions and strategies including, for example, holding
substantial positions in lower-yield fixed-income securities and/or cash equivalents, which
may limit potential gains when compared to unhedged funds. There can be no assurance that
the Fund’s hedging strategy will reduce the risk of the Fund’s investments.</span></td></tr></table></div><div id="xdx_C0F_gRBRTB-IQM_zVgLbHxqFKA"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_zd3nlssX5df2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Interest
Rate Risk: </i>The value of the Fund may fluctuate based on changes in interest rates and
market conditions. As interest rates increase, the value of income producing instruments
may decrease. This risk increases as the term of the note increases.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-IQM_zlL8SD0jkQO5"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--InverseETFRiskMember_z9X3UgRKbJhi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Inverse
ETF Risk: </i>Investing in inverse ETFs may result in increased volatility and will magnify
the Fund’s losses or gains. Inverse ETFs will prevent the Fund from participating in
market-wide or sector-wide gains. Inverse ETFs may be ineffective hedging vehicles because
their price changes may not be highly correlated to the Fund’s assets they are intended
to hedge. Inverse ETFs are funds designed to increase in price when stock prices are falling.
Inverse funds seek daily investment results, before fees and expenses, which correspond to
the inverse (opposite) of the daily performance of a specific benchmark. Most inverse ETFs
reset daily (meaning they aim to achieve their stated objective daily). Accordingly, their
performance over longer terms can perform very differently than underlying assets and benchmarks,
and volatile markets can amplify this effect. During periods of market volatility, inverse
ETFs may not perform as expected.</span></td></tr></table></div><div id="xdx_C04_gRBRTB-IQM_zUdh2Eb1kikg"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentModelRiskMember_zZyBsi0PtsK2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Investment
Model Risk: </i>Like all quantitative analysis, the Adviser’s investment model carries
a risk that the mathematical model used might be based on one or more incorrect assumptions.
No assurance can be given that the Fund will be successful under all or any market conditions.</span></td></tr></table></div>
<div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--JunkBondsRiskMember_zBofHm3EOlNg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Junk
Bonds Risk: </i>Lower-quality bonds, known as “high yield” or “junk”
bonds, 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.</span></td></tr></table></div><div id="xdx_C02_gRBRTB-IQM_zlcfQ1oV7zta"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationStockRiskMember_zvLn2R9fowg4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large
Capitalization Stock Risk: </i>Large-capitalization companies may be less able than smaller
capitalization companies to adapt to changing market conditions. Large-capitalization companies
may be more mature and have limited growth potential compared to smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed
the overall performance of the broader securities markets.</span></td></tr></table></div><div id="xdx_C04_gRBRTB-IQM_zeHnjwTnbxjg"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_zcYYxUVnzOF3">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
Risk: </i>The use of leverage by the Fund, such as borrowing money to purchase securities
or the use of options, will cause the Fund to incur additional expenses and magnify the Fund’s
gains or losses.</span></td></tr></table></div><div id="xdx_C09_gRBRTB-IQM_z1HvM8U0Bnc3"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zolb47ejLAJa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Management
Risk: </i>The Adviser’s reliance on its strategy and judgments about the attractiveness,
value and potential appreciation of particular securities and the tactical allocation among
the Fund’s investments may prove to be incorrect and may not produce the desired results.</span></td></tr></table></div><div id="xdx_C0E_gRBRTB-IQM_zcQ4zhjzffk2"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zds2zwtA7GIe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>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’s portfolio may underperform due to inflation (or expectations for inflation),
interest rates, global demand for particular products or resources, natural disasters, climate
change and climate-related events, pandemics, epidemics, terrorism, international conflicts,
tariffs and trade wars, regulatory events and governmental or quasi-governmental actions.
The occurrence of global events similar to those in recent years may result in market volatility
and may have long term effects on both the U.S. and global financial markets.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-IQM_zMyCoJRFK3Te"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zUSZnngBCVU8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire
premium paid if the underlying security or index does not decrease in value. When the Fund
purchases a call option on a security or index it may lose the entire premium paid if the
underlying security or index does not increase in value. The Fund is also exposed to default
if an option writer is unwilling or unable to perform its contractual obligations to the
Fund.</span></td></tr></table></div><div id="xdx_C03_gRBRTB-IQM_z5z4bshj39sg"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsOnFuturesContractsRiskMember_zDjEPILooGfi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
on Futures Contracts Risk: </i>The Fund may enter into options on futures contracts. An option
on a futures contract gives the buyer, in return for the premium paid, the right (but not
the obligation) to either buy or sell the underlying futures contract during a certain period
of time for a fixed price. The writing of a put or call option on a futures contract involves
risks similar to the risks applicable to the purchase or sale of futures contracts.</span></td></tr></table></div>
<div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ShortPositionRiskMember_zFmNGxAYIqV8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Short
Position Risk: </i>The Fund’s short positions may result in a loss if the price of
the short position instruments rises and it costs more to replace the short positions. In
contrast to the Fund’s long positions, for which the risk of loss is typically limited
to the amount invested, the potential loss on the Fund’s short positions is potentially
large. Market factors may prevent the Fund from closing out a short position at the most
desirable time or at a favorable price.</span></td></tr></table></div><div id="xdx_C0A_gRBRTB-IQM_zJxmY9rt6uya"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMediumCapitalizationStockRiskMember_zy2icUSK5Qdf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Small
and Medium Capitalization Stock Risk: </i>The price of small or medium capitalization company
stocks may be subject to more abrupt or erratic market movements than larger, more established
companies or the market averages in general.</span></td></tr></table></div><div id="xdx_C02_gRBRTB-IQM_zAqmVsa8Edaf"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--StructuredNotesRiskMember_zUxyKgTcrbpc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Structured
Notes Risk: </i>Structured notes are typically issued by banks or brokerage firms, and have
interest and/or principal payments which are linked to changes in the price level of certain
assets or to the price performance of certain indices. The value of a structured note is
influenced by time to maturity, level of supply and demand for this type of note, interest
rate and market volatility, changes in the issuer’s credit quality rating, and economic,
legal, or political events that affect the industry. Structured notes may involve leverage
risk, tracking risk and issuer default risk. In addition, there may be a lag between a change
in the value of the underlying reference asset and the value of the structured note. Structured
notes may also be subject to counterparty risk. The Fund may also be exposed to increased
transaction costs when it seeks to sell such notes in the secondary market.</span></td></tr></table></div><div id="xdx_C0B_gRBRTB-IQM_zApGobXQvnOd"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--SwapsRiskMember_znoOL6yGFn15">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Swaps
Risk: </i>A counterparty to a swap agreement may default on its obligation to pay the Fund
and the Fund may not be able to meet its obligations to pay the counterparty to the swap.
Swap agreements may also involve fees, commissions or other costs that may reduce the Fund’s
gains from a swap agreement or may cause the Fund to lose money.</span></td></tr></table></div><div id="xdx_C01_gRBRTB-IQM_zutStgtj8Hqb"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zxthUtwtWYt6">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Turnover
Risk: </i>A higher portfolio turnover will result in higher transactional and brokerage costs
and may result in higher taxes when Fund shares are held in a taxable account.</span></td></tr></table></div><div id="xdx_C07_gRBRTB-IQM_zZDXWbXi3ay5"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_zoaz9M87Mdx">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 9.35pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>ETFs are subject to investment advisory and other expenses, which will be
indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher
than the cost of investing directly in other investment companies and may be higher than
other mutual funds that invest directly in securities. The market value of ETF shares may
differ from their net asset value. Each investment company is subject to specific risks,
depending on the nature of the fund.</span></td></tr></table></div>
Performance:
<p id="xdx_A8E_eoef--PerformanceNarrativeTextBlock_ztAb1f64LIv9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b><span id="xdx_90E_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_z1siuUYquUX1">The
bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks
of investing in the Fund. The bar chart shows performance of the Fund’s Class A shares for each full calendar year since the Fund’s
inception.</span> Although Investor Class and Class I shares would have similar returns to Class A shares because the classes are invested in
the same portfolio of securities, the returns for Investor Class and Class I shares would be different from Class A shares because Investor
Class and Class I shares have different expenses than Class A shares. The performance table compares the performance of the Fund over
time to the performance of a broad-based market index. <span id="xdx_904_eoef--PerformancePastDoesNotIndicateFuture_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zTDr2wHipWj4">You should be aware that the Fund’s past performance (before and after taxes)
may not be an indication of how the Fund will perform in the future. </span>Updated performance information is available at no cost by visiting
<span style="text-decoration: underline"><span id="xdx_90D_eoef--PerformanceAvailabilityWebSiteAddress_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zI4BMqdWG9Ng">www.howardcmfunds.com</span></span> or by calling <span id="xdx_906_eoef--PerformanceAvailabilityPhone_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zoj260AcXJ38">1-855-969-8464</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
bar chart and performance table below show the variability of the Fund’s returns over time, which is some indication of the risks
of investing in the Fund. The bar chart shows performance of the Fund’s Class A shares for each full calendar year since the Fund’s
inception.
You should be aware that the Fund’s past performance (before and after taxes)
may not be an indication of how the Fund will perform in the future.
www.howardcmfunds.com
1-855-969-8464
Class
A Performance Bar Chart For Calendar Years Ended December 31
(Returns
do not reflect sales loads and would be lower if they did)
<div id="xdx_A8C_eoef--BarChartTableTextBlock_zvyzwYTg9Xr6"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zQ5zsS85vsuh" style="font: 10pt Arial, Helvetica, Sans-Serif; display: none; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: center">
<td style="text-align: center; width: 25%"> </td>
<td id="xdx_49D_20230101__20231231_zeEfAGRV0Ig" style="text-align: center; width: 25%">2023</td>
<td id="xdx_491_20240101__20241231_zd3JfwHmpWhb" style="text-align: center; width: 25%">2024</td>
<td id="xdx_491_20250101__20251231_zCrPJLWVpmak" style="text-align: center; width: 25%">2025</td></tr>
<tr id="xdx_401_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member_zonGqDOkPag2" style="vertical-align: top; text-align: center">
<td> </td>
<td>5.71%</td>
<td>0.03%</td>
<td>8.60%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><img alt="(BAR GRAPH)" src="hc005_v1.jpg"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0571
0.0003
0.0860
<div id="xdx_A85_eoef--BarChartClosingTextBlock_zLUEjdZkVTo4"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 50%; border-collapse: collapse; margin-right: auto">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td id="xdx_98D_eoef--HighestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zJVeBd9wL5Eb" style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 0.1in; text-align: center; text-indent: -0.1in">Best Quarter:</td>
<td id="xdx_98E_eoef--BarChartHighestQuarterlyReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zyXX4Jz3vPbh" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 0.1in; text-align: center; text-indent: -0.1in">12/31/2023</td>
<td id="xdx_98F_eoef--BarChartHighestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zRCxMdyAEaB3" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 0.1in; text-align: center; text-indent: -0.1in">8.37%</td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td id="xdx_983_eoef--LowestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zwjccrzeLoO" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 0.1in; text-align: center; text-indent: -0.1in">Worst Quarter:</td>
<td id="xdx_981_eoef--BarChartLowestQuarterlyReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zyUm24nXijIg" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 0.1in; text-align: center; text-indent: -0.1in">9/30/2023</td>
<td id="xdx_988_eoef--BarChartLowestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zmOXVGl1bDT6" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 2.9pt; padding-left: 0.1in; text-align: center; text-indent: -0.1in">-2.26%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eoef--YearToDateReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zexqRIPb3075">The
year-to-date return as of the most recent calendar quarter</span>, which ended <span id="xdx_90A_eoef--BarChartYearToDateReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zPRuuDZP3nKl">September 30, 2026</span>, was <span id="xdx_901_eoef--BarChartYearToDateReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zLM9u5Ou33O1">1.24%</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Best Quarter:
2023-12-31
0.0837
Worst Quarter:
2023-09-30
-0.0226
The
year-to-date return as of the most recent calendar quarter
2026-09-30
0.0124
Performance
Table
Average
Annual Total Returns
(For
periods ended December 31, 2025)
<div id="xdx_A81_eoef--PerformanceTableTextBlock_zQmVFBGFHTAe"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zoIeHnwt8YO8" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #C6D9F1">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 70%; padding-right: 2.9pt; padding-left: 2.9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_491_20250101__20251231_z0ZHvzpPdm45" style="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>One
<br/>
Year</b></span></td>
<td id="xdx_494_20220630__20251231_zO6w9fqg2Bif" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since
Inception<br/>
(<span id="xdx_909_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member_ztuycOJzG2Ff"><span id="xdx_902_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236510Member_zlEjzSluF6J1"><span id="xdx_902_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236512Member_zuWOgUJ5Q82i">6-30-2022</span></span></span>)</b></span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
A shares</b></span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member_zqtJ6BpSTpHe" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member_zyqq6zQJWQPf">Return
before taxes</span></span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.37%</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.71%</span></td></tr>
<tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zkliEqmI7uS8" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
after taxes on distributions</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.50%</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.87%</span></td></tr>
<tr id="xdx_40D_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236511Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z5h8NTjEpHF" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
after taxes on distributions and sale of Fund shares</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.42%</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.95%</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investor
Class shares</b></span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236510Member_zw6lvNYYOsYj" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236510Member_z6PdOEw4pTRd">Return
before taxes</span></span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.90%</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.06%</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Class
I shares</b></span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236512Member_zyqEmliNM2a1" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 0.1in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000076537Member__oef--ClassAxis__custom--C000236512Member_zxmRdK3G5ACh">Return
before taxes</span></span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.90%</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.65%</span></td></tr>
<tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076537Member__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zWf1fkTtgRka" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bloomberg
US Aggregate Bond Index</b><sup id="xdx_F4B_zCDo8srkjru1">(1)</sup><b><br/>
</b>(<span id="xdx_905_eoef--IndexNoDeductionForFeesExpensesTaxes_c20261028__20261028__dei--LegalEntityAxis__custom--S000076537Member_zpfXR4gOJ6a7">reflects no deduction for fees, expenses or taxes</span>)</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.30%</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 2.9pt; padding-left: 2.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.09%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span id="xdx_F05_zdNCC5rwhum7" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span id="xdx_F10_zz22KGsZz2u7" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
Bloomberg US Aggregate Bond Index is a market capitalization-weighted index, meaning the
securities in the index are weighted according to the market size of each bond type. The
index includes treasury securities, government agency bonds, mortgage-backed bonds, corporate
bonds, and a small amount of foreign bonds traded in the U.S. Investors cannot invest directly
in an index or benchmark.</span></td></tr></table>
2022-06-30
2022-06-30
2022-06-30
Return
before taxes
0.0237
0.0171
0.0150
0.0087
0.0142
0.0095
Return
before taxes
0.0790
0.0306
Return
before taxes
0.0890
0.0365
reflects no deduction for fees, expenses or taxes
0.0730
0.0309