Strategy. Principal Investment Strategies: The adviser seeks to achieve the Funds investment objectives by following a rules-based strategy that employs a disciplined investment selection process with tactical overlays that determines whether the fund will be in a bullish or defensive position. The Fund achieves its fixed income exposure by investing in (1) exchange-traded funds (ETFs) and mutual funds that invest primarily in bank loans, floating rate bonds, short duration fixed income instruments (defined as an average portfolio duration of 3.5 years or less), high yield bonds (also known as junk bonds), and (2) short-term Treasury ETFs, money market funds or U.S. Treasury securities. The Funds investment exposure to high yield bonds, which is limited to 20% of the Funds assets, is … Show more… Principal Investment Strategies: The adviser seeks to achieve the Funds investment objectives by following a rules-based strategy that employs a disciplined investment selection process with tactical overlays that determines whether the fund will be in a bullish or defensive position. The Fund achieves its fixed income exposure by investing in (1) exchange-traded funds (ETFs) and mutual funds that invest primarily in bank loans, floating rate bonds, short duration fixed income instruments (defined as an average portfolio duration of 3.5 years or less), high yield bonds (also known as junk bonds), and (2) short-term Treasury ETFs, money market funds or U.S. Treasury securities. The Funds investment exposure to high yield bonds, which is limited to 20% of the Funds assets, is broadly diversified. The Funds methodology is based on a model that indicates a favorable or defensive market position based on technical trends in the exponential moving average of two fixed income indexes. The exponential moving average is the average of an indexs value over a certain time frame. The exponential moving average methodology gives greater weighting to more recent benchmark values than benchmark values from the beginning of the relevant time period. The Donoghue Forlines Floating Rate model consists of three sets of exponential moving averages of indexes that track bank loan and high yield fixed income markets over different time frames. When the Donoghue Forlines Floating Rate model indicates a favorable market position, the model (and consequently, the Fund) will be invested in ETFs and mutual funds that invest primarily in bank loans, floating rate bonds, short duration fixed income instruments and high yield bonds (the components of the model). Conversely, when a component of the Donoghue Forlines Floating Rate model indicates a defensive position, the model (and the Fund) increases allocations to short-term Treasury ETFs, money market funds or U.S. Treasury securities in an attempt to mitigate market risk. Each component is evaluated independent of the other. Accordingly, the Fund will be invested as follows depending on the market signals produced by each component of the Donoghue Forlines Floating Rate model: ? If all three components indicate a favorable market, the Fund will be fully invested in ETFs and mutual funds that invest primarily in bank loans, floating rate bonds, short duration fixed income instruments and high yield bonds ? If a component indicates a favorable market and the other component and or components indicate a defensive market, a portion of the Funds net assets will be invested in ETFs and mutual funds that invest primarily in bank loans, floating rate bonds, short duration fixed income instruments and high yield bonds and the remaining fund assets will be invested in short-term Treasury ETFs, money market funds or U.S. Treasury securities ? If all three components indicate a defensive market, the Fund will be fully invested in short-term Treasury ETFs, money market funds or U.S. Treasury securities The Fund has adopted a non-fundamental policy to invest at least 80% of its net assets in the constituent securities that make up the model. Changes in constituent securities that make up the Donoghue Forlines Floating Rate model will normally be implemented for the Funds portfolio on the same trading day as the model. The Fund may engage in frequent trading of its portfolio which will result in a higher portfolio turnover rate. Show less