Strategy. The Fund invests primarily in a portfolio of equity securities of companies that are undervalued in the opinion of the Funds adviser, Pekin Hardy Strauss, Inc. (the Adviser). When selecting common stocks for investment by the Fund, the Adviser focuses on company valuation, looking for significant discrepancies between its own appraisal of the intrinsic value of a prospective investment and the market price of the investment. When determining a companys intrinsic value, the Adviser looks closely at the fundamentals of the underlying business. In an effort to limit downside risk and maximize upside potential, the Adviser typically seeks companies that it believes have sustainable competitive positions, solid financials, and capable, shareholder-friendly management teams. The Fund expects to make significant investments … Show more… The Fund invests primarily in a portfolio of equity securities of companies that are undervalued in the opinion of the Funds adviser, Pekin Hardy Strauss, Inc. (the Adviser). When selecting common stocks for investment by the Fund, the Adviser focuses on company valuation, looking for significant discrepancies between its own appraisal of the intrinsic value of a prospective investment and the market price of the investment. When determining a companys intrinsic value, the Adviser looks closely at the fundamentals of the underlying business. In an effort to limit downside risk and maximize upside potential, the Adviser typically seeks companies that it believes have sustainable competitive positions, solid financials, and capable, shareholder-friendly management teams. The Fund expects to make significant investments in the Advisers best ideas, which means that the Fund may invest in a limited number of portfolio companies. The Adviser also considers a companys sustainability performance with respect to environmental, social, and governance (ESG) factors when making investment decisions. The Fund seeks to avoid companies that are deemed inconsistent with these factors. Equity securities in which the Fund may invest include common stocks and common stock equivalents (such as rights, warrants and convertible securities), other investment companies that invest primarily in equity securities, commodities, and commodity-related investments, including open and closed-end funds, exchange-traded funds (ETFs), business trusts (including equity real estate investment trusts (REITs), and income trusts) and publicly traded partnerships that invest in real estate or underlying real estate related businesses. The Fund may invest without limit in securities of both U.S. and foreign issuers. The Fund may purchase foreign stocks directly or through American Depositary Receipts (ADRs) or Global Depositary Receipts (GDRs). The Fund may invest in common stocks of any market capitalization, including small- and mid-cap stocks. The Fund may also invest a portion of its assets in preferred stocks, and investment grade fixed income securities of any duration and maturity, such as U.S. Government and agency securities, domestic and foreign corporate bonds, foreign government bonds, money market mutual funds, certificates of deposit, and cash equivalents. The Fund may use derivatives, such as options and futures, for both hedging and non-hedging purposes. For example, the Fund may use currency futures to increase or decrease the Funds exposure to a particular currency. The Fund may also invest in commodities- related investments, including in ETFs and trusts that invest in or track the price of gold or other precious metals. The Fund is non-diversified, which means that it may invest a greater percentage of its assets in fewer issuers than a diversified fund. Show less