Strategy. The Fund seeks to achieve its objective by investing, under normal market conditions, primarily in the securities of other unaffiliated investment companies, including open-end funds, exchange-traded funds (ETFs) and closed-end funds (collectively referred to as Underlying Funds). The Fund utilizes a risk-managed strategy (thus, the term RMS in the Funds name), which involves the allocation of invested assets across multiple underlying investments in a manner that attempts to limit fluctuations in annualized returns that would be commensurate to an investor seeking to experience very low volatility as measured by standard deviation. An investments volatility is commonly measured by standard deviation. Standard deviation provides the probable range of anticipated returns based on the performance fluctuations over previous time periods (1- year, … Show more… The Fund seeks to achieve its objective by investing, under normal market conditions, primarily in the securities of other unaffiliated investment companies, including open-end funds, exchange-traded funds (ETFs) and closed-end funds (collectively referred to as Underlying Funds). The Fund utilizes a risk-managed strategy (thus, the term RMS in the Funds name), which involves the allocation of invested assets across multiple underlying investments in a manner that attempts to limit fluctuations in annualized returns that would be commensurate to an investor seeking to experience very low volatility as measured by standard deviation. An investments volatility is commonly measured by standard deviation. Standard deviation provides the probable range of anticipated returns based on the performance fluctuations over previous time periods (1- year, 3-year, or 5-year). Investments with the lowest levels of standard deviation would be considered very conservative (less volatile), while investments with higher levels of standard deviation would be considered more growth oriented and aggressive in nature (more volatile). The strategy of this Fund is to keep the level of annual performance fluctuation within standard deviation parameters that would be suitable for a moderate risk investor. This is identified by standard deviations that are slightly greater than that of a conservative/moderate investor, but less than those of a typical growth-oriented investor. Under normal circumstances, the Fund seeks to maintain a standard deviation between 5.5% to 8.5% over a 3-year timeframe or a 5-year timeframe. The Fund allocates assets across three broad asset classes (money market, bonds, equities) in a manner that provides a high probability of meeting the standard deviation goals. The Fund will generally allocate 30%-50% of its assets into a variety of Underlying Funds that focus on investments in fixed income securities ( e.g. , money markets and bonds) that possess varying qualities of credit and duration including high-yield securities (also referred to as junk bonds). The remaining 50%-70% of the Funds assets will generally be allocated to Underlying Funds that invest in equity securities that have the potential of providing dividends and growth on an annual basis. The equity allocation will be invested in Underlying Funds that invest in U.S. and foreign securities (including emerging markets securities) and that focus on investments without regard to market capitalization (i.e., investments may include securities of issuers that would be considered small, medium and/ or large capitalization companies). The Fund identifies an emerging market security based on it being placed in the Diversified Emerging Market Equity category by Morningstar, Inc. Because market conditions may favor one asset class over another (e.g., fixed income securities may be favored over equity securities at any given time), the allocation of the Funds assets between fixed income and equity securities may range from 50% to 70% allocated to equities at any given time. The Fund will adjust the allocations between fixed income and equity in an effort to continually meet the overriding strategy of providing both income and growth. For instance, in periods when interest rates are relatively high, the Fund may increase its allocation to fixed income and in periods when interest rates are relatively low, the Fund may increase its allocation to equity. In other words, there may be market conditions that warrant allocating more of the Funds assets into fixed income, while there may be other market conditions that would warrant allocating more of the Funds assets to equity. Systelligence, LLC (the Adviser) incorporates a Core and Satellite management philosophy with 20% to 80% of a category allocation invested in the Core holdings and the remaining amount investing in the Satellite holdings. A category allocation is the amount of assets to be allocated into an investment category. Morningstar, Inc. has created what the Adviser believes to be an industry standard of investment categories, which aid in the recognition of an investments underlying holdings, e.g. , Intermediate Term Bond Category, Short Term Government Bond Category, Domestic Large Cap Stock Category, etc. The Core and Satellite management philosophy is synonymous with Passive Management and Active Management, respectively. The Core component pertains to the portion of the Funds asset allocation that is devoted to passive management. Passive management is considered a form of investment management whereby the allocation mirrors the allocation of a benchmark, or index. The Funds allocation to Core holdings is achieved by investing a portion of the Funds assets in Underlying Funds that attempt to replicate the performance of a common index (e. g. , S&P 500 , Russell 1000, Bloomberg Barclays US Aggregate Bond Index, etc.) (that is, passively managed Underlying Funds). The Funds Satellite component pertains to the portion of the Funds asset allocation that is devoted to active management. Active management is considered a form of investment management whereby the allocation is driven by security selection and trading with an overriding goal of outperforming a stated index, or benchmark. The Funds allocation to Satellite holdings is achieved by investing a portion of the Funds assets in actively managed Underlying Funds. By constructing the Funds portfolio with Core and Satellite holdings, the Adviser is blending two management philosophies in an effort to capture the returns of the market indexes through Core holdings, while also seeking to enhance the overall performance with Satellite holdings, and thus attempting to deliver above average performance. The Adviser selects the Funds Core holdings by first arriving at an asset allocation across three broad asset classes (money market, bonds, and equities) that the Adviser believes provides the highest probability of meeting the stated volatility goals. Once this broad asset allocation is determined, the second decision is to determine the allocations within each of the aforementioned broad asset classes. For instance, once the allocation percentage into equities has been determined, the next step would be to identify the amount allocated between foreign and domestic equities. Once this has been determined, the next decision is to determine the allocation into large companies, medium sized companies, and small companies within each equity sub-group. When the allocation based on company size has been determined, the Adviser will dedicate a portion of that allocation into passive management, i.e. index, also referred to as Core. Likewise, the Adviser will allocate a portion of the allocation into active management, also referred to as Satellite. The Adviser allocates the Funds assets with respect to Satellite holdings among the Underlying Funds by utilizing proprietary quantitative-based models in which an Underlying Fund must meet a performance criteria of outperforming the average of its peer group by a minimum of 10% across multiple timeframes (1 month, 3 months, 6 months, 1 year, 2 years, 3 years, and 5 years) to be considered a potential (or remain as an existing) investment in the Fund. The emphasis of each timeframe in the overriding analysis is determined through a proprietary weighting process that enables the Adviser to place increased emphasis on varying timeframes through a variety of market cycles. The Advisers asset allocation to both the Core and Satellite components of the Fund will generally be rebalanced when an allocation dispersion exceeding +/- 10% is experienced. For instance, if an Underlying Funds allocation of the Funds total assets equals 15%, then the Adviser would rebalance if/when this investments allocation exceeded 16.5% of the Funds total assets (110% x 15% = 16.5%), or if/when this Underlying Funds allocation as a percent of the Funds total assets drops to less than 13.5% (90% x 15% = 13.5%). Based on technical analysis of economic and market conditions, the Adviser may, from time to time, allocate up to 5% of the Funds net assets to investments in ETFs that are tied to the performance of the broad equity markets as measured by such indices as the S&P 500 Index. These ETFs may include leveraged and inverse ETFs, which are used to manage volatility. A long-position in ETFs would reflect the Advisers assessment that the markets are moving in an upward direction. Whereas, an inverse position would reflect an assessment by the Adviser that the markets are generally moving downward. Depending upon the strength of the indicators in the Advisers technical analysis, the Adviser may allocate to ETFs that are leveraged and would thus anticipate a multiple (e.g., 2X) of the performance of the market in either an upward or downward direction. Due to the growth or decline in any allocation to this type of position, the Advisers asset allocation will be rebalanced when an allocation dispersion exceeding +/- 10% is experienced. The Adviser sells or reduces the Funds position in an Underlying Fund when the Underlying Funds performance begins to lag the average of its respective peer group by 10% or more, and has done so for an average of 3-months or more. These performance tolerance standards are applied to multiple timeframes, i.e. , 1-month, 3-month, 6-month, 1-year, 2-year, 3-year, and 5-year timeframes. These settings are subject to change as market conditions warrant. The Fund may engage in frequent and active trading within both its Core and Satellite components in order to achieve its investment objective. The Fund may invest in Underlying Funds that utilize derivatives such as put and call options on stocks and stock indices, and index futures contracts and options thereon, which can be more sensitive to changes in interest rates or to sudden fluctuations in market prices than conventional securities. The Underlying Funds may utilize derivatives to, among other things, seek to enhance return, to hedge some of the Underlying Funds investments or as a substitute for a position in the underlying asset. Additionally, some of the Underlying Funds may invest directly or indirectly in physical commodities, such as gold, silver, and other precious materials. The Fund may, from time to time, focus its investments in a particular industry or sector for the purpose of capitalizing on performance momentum in that industry or sector due to significant changes in market conditions, economic conditions, geopolitical conditions, etc., as well as to reduce downside exposure to significant changes in conditions such as market, economic or geopolitical. Show less