Strategy. The Fund seeks to achieve its investment objective by allocating assets across one or more of the following sectors of the global securities markets: ? U.S. Common Stocks ? Foreign Developed Market Common Stocks ? Emerging Market Common Stocks ? Real Estate Investment Trusts (REITs) ? Government Bonds ? Corporate Bonds ? International Bonds ? Municipal Bonds ? High Yield Bonds The Allocation Funds investment adviser, Horizon Investments, LLC (Horizon), selects asset classes using a flexible approach that allocates the Allocation Funds portfolio between asset classes that Horizon believes offer the opportunity for the highest projected return for a given amount of risk. This flexible approach to investing typically seeks to maximize returns by adjusting portfolio asset-allocations among various asset … Show more… The Fund seeks to achieve its investment objective by allocating assets across one or more of the following sectors of the global securities markets: ? U.S. Common Stocks ? Foreign Developed Market Common Stocks ? Emerging Market Common Stocks ? Real Estate Investment Trusts (REITs) ? Government Bonds ? Corporate Bonds ? International Bonds ? Municipal Bonds ? High Yield Bonds The Allocation Funds investment adviser, Horizon Investments, LLC (Horizon), selects asset classes using a flexible approach that allocates the Allocation Funds portfolio between asset classes that Horizon believes offer the opportunity for the highest projected return for a given amount of risk. This flexible approach to investing typically seeks to maximize returns by adjusting portfolio asset-allocations among various asset classes based upon near-term forecasts. Horizon assesses projected return and expected risk using a multi-disciplined approach consisting of economic, quantitative and fundamental analysis. As a part of the Funds overall allocation strategy, Horizon expects to invest a portion of the Funds assets in equity securities of U.S. and foreign (non-U.S.) companies that offer exposure to emerging technologies in various phases of development, including, without limitation, companies involved with the development of technologies related to artificial intelligence. Horizon expects to engage in frequent buying and selling of securities to achieve the Allocation Funds investment objective. Horizon may execute the Allocation Funds strategy by investing in exchange-traded funds (ETFs) or by investing directly in individual securities or baskets of securities. Potential investments are reviewed for trading efficiency, liquidity, risk/return profile, and fit within overall portfolio diversification needs prior to investment. Horizon generally expects to select individual securities or baskets of securities instead of ETFs, when it believes such investments are more cost effective, more operationally efficient or will provide strategic exposure to a specific sector or market segment. Horizon selects investments without restriction as to the issuer country, capitalization, currency, or maturity or credit quality of the securities or the securities held by each ETF. Under normal market conditions, the Allocation Fund invests a majority of its assets in equity securities or ETFs that invest primarily in equity securities; however, the Allocation Fund may invest in fixed income securities, including, without limitation, lower-quality fixed income securities commonly known as high yield or junk bonds, which are generally rated lower than Baa3 by Moodys Investors Service (Moodys) or lower than BBB- by S&P Global Ratings (S&P) or in ETFs that invest primarily in such securities. In addition, the Allocation Fund may buy or write options on puts or calls for investment purposes, to hedge other investments or to generate option premiums for the Allocation Fund, and may implement such investments through option combinations such as spreads, straddles, and collars. The Allocation Funds option strategies may involve options combinations, such as spreads or collars. In spread transactions, the Allocation Fund buys and writes a put or buys and writes a call on the same underlying instrument with the options having different exercise prices, expiration dates, or both. When the Allocation Fund engages in spread transactions, it seeks to profit from differences in the option premiums paid and received and in the market prices of the related options positions when they are closed out or sold. A collar position combines a put option purchased by the Allocation Fund (the right of the Allocation Fund to sell a specific security within a specified period) with a call option that is written by the Allocation Fund (the right of the counterparty to buy the same security) in a single instrument, and the Allocation Funds right to sell the security is typically set at a price that is below the counterpartys right to buy the security. Thus, the combined position collars the performance of the underlying security, providing protection from depreciation below the price specified in the put option, and allowing for participation in any appreciation up to the price specified by the call option. In each case, the premium received for writing an option offsets, in part, the premium paid to purchase the corresponding option; however, downside protection may be limited as compared to just owning a single option. There is no limit on the number or size of the options transactions in which the Allocation Fund may engage; however, the Allocation Fund will not use options for the purpose of increasing the Allocation Funds leverage with respect to any portfolio investment. The Allocation Fund will typically sell portfolio securities to adjust portfolio allocations as described above, to seek to secure gains or limit potential losses, or when Horizon otherwise believes it is in the best interest of the Allocation Fund. Depending on market conditions, the Allocation Fund may at times focus its investments in particular sectors or areas of the economy. Show less