Strategy. The Fund will invest, under normal market conditions, at least 80% of its net assets (including any borrowings for investment purposes) in real assets. The term real assets is defined broadly by the Fund to include any assets that have physical properties, such as energy, materials, natural resources, industrials, utilities or real estate (including real estate investment trusts (REITs)) as well as direct or indirect exposure to commodities (e.g., commodity-linked derivative instruments), subject to limitations of applicable law. The Funds 80% policy is not fundamental and can be changed upon 60 days prior notice to shareholders. The Fund will concentrate its assets in the real assets sector. Under normal market conditions, the Fund will invest at least 25% of the … Show more… The Fund will invest, under normal market conditions, at least 80% of its net assets (including any borrowings for investment purposes) in real assets. The term real assets is defined broadly by the Fund to include any assets that have physical properties, such as energy, materials, natural resources, industrials, utilities or real estate (including real estate investment trusts (REITs)) as well as direct or indirect exposure to commodities (e.g., commodity-linked derivative instruments), subject to limitations of applicable law. The Funds 80% policy is not fundamental and can be changed upon 60 days prior notice to shareholders. The Fund will concentrate its assets in the real assets sector. Under normal market conditions, the Fund will invest at least 25% of the value of its total assets (as measured at the time of purchase) in the securities of issuers that derive a significant portion of their profits and revenues (at least 20%) from the energy, materials, industrials or utilities sectors and at least 25% of the value of its total assets (as measured at the time of purchase) in the securities of issuers that derive a significant portion of their profits and revenues (at least 20%) from the real estate sector. Companies in natural resources industries include companies principally engaged in the discovery, development, production, or distribution of natural resources; the development of technologies for the production or efficient use of natural resources; or the furnishing of related supplies or services. Natural resources may include, for example, energy sources, precious and other metals, forest products, real estate, food and agriculture, and other basic commodities. The Fund may invest in derivatives for both hedging and non-hedging purposes. The Funds derivative investments may include: (i) futures contracts, including futures based on securities and/or indices, interest rate futures, currency futures and swap futures; (ii) swaps, including currency, interest rate, total return, variance, credit default and security and/or index swaps, and swaps on futures contracts; (iii) options, including long and short positions in call options and put options on indices, individual securities or currencies, swaptions and options on futures contracts; (iv) forward contracts, including forwards based on securities and/or indices, currency forwards, interest rate forwards, swap forwards and non-deliverable forwards; and (v) other instruments, including structured securities, exchange-traded notes, and contracts for differences (CFDs). As a result of the Funds use of derivatives, the Fund may also hold U.S. Treasuries or short-term investments, including money market funds, repurchase agreements, cash and time deposits. The Fund employs a multi-manager strategy whereby the Adviser allocates the Funds assets among professional money managers (each, a Sub-adviser, collectively, the Sub-advisers), each of which is responsible for investing its allocated portion of the Funds assets. The Adviser may also invest a portion of the Funds assets in unaffiliated funds that are registered under the Investment Company Act of 1940, as amended (the 1940 Act), and that have investment objectives and principal investment strategies consistent with those of the Fund, including open-end funds, closed-end funds and exchange traded funds (ETFs), which may be passively managed (i.e., index-tracking) or actively managed. When determining how to allocate the Funds assets between unaffiliated funds and Sub-advisers, and among Sub-advisers, the Adviser considers a variety of factors. The Adviser and/or Sub-adviser may invest the Funds assets in securities of issuers of all capitalizations located anywhere in the world, including emerging markets. The Fund is non-diversified and holds a larger portion of its assets in a smaller number of issuers. The Fund will likely hold a more limited number of securities than many other mutual funds. However, the Fund intends to satisfy the asset diversification requirements for qualification as a regulated investment company (RIC) under Subchapter M of the Internal Revenue Code of 1986, as amended (the Code), as described in detail in the Taxes section of the SAI. If a Sub-Adviser is unable to find suitable investments for the entire portion of its portfolio, any uninvested assets may be held in cash or cash equivalents. The Fund may lend portfolio securities to earn additional income. Any income realized through securities lending may help the Funds performance. A Sub-adviser may sell a security for a variety of reasons, including, but not limited to, where the Sub-adviser believes selling the security will help the Fund to secure gains, limit losses, or redeploy assets into more promising opportunities, or the valuation is no longer attractive. Show less