Strategy. The Fund seeks to achieve its investment objective by investing more than 80% of the Fund?s assets, plus any amounts for borrowing, in shares of mutual funds or exchange-traded funds (?ETFs?) managed by Pacific Investment Management Company LLC (?PIMCO?), under normal circumstances (?PIMCO Underlying Funds?). The balance of the Fund?s net assets will be invested in PIMCO Underlying Funds or mutual funds or ETFs managed by advisers other than PIMCO (?Other Underlying Funds?), under normal market circumstances. At least 80% of the Fund?s assets (defined as net assets plus the amount of any borrowing for investment purposes) will be invested in PIMCO Underlying Funds and Other Underlying Funds that invest primarily in bond instruments. The Fund operates as a fund … Show more… The Fund seeks to achieve its investment objective by investing more than 80% of the Fund?s assets, plus any amounts for borrowing, in shares of mutual funds or exchange-traded funds (?ETFs?) managed by Pacific Investment Management Company LLC (?PIMCO?), under normal circumstances (?PIMCO Underlying Funds?). The balance of the Fund?s net assets will be invested in PIMCO Underlying Funds or mutual funds or ETFs managed by advisers other than PIMCO (?Other Underlying Funds?), under normal market circumstances. At least 80% of the Fund?s assets (defined as net assets plus the amount of any borrowing for investment purposes) will be invested in PIMCO Underlying Funds and Other Underlying Funds that invest primarily in bond instruments. The Fund operates as a fund of funds. In selecting PIMCO Underlying Funds and Other Underlying Funds to purchase or sell, on behalf of the Fund, Pacific Financial Group, LLC (the ?Adviser?) utilizes information provided by PIMCO, including data and analysis about the PIMCO Underlying Funds and Other Underlying Funds. The Adviser invests in PIMCO Underlying Funds and Other Underlying Funds that invest primarily in fixed-income securities issued by domestic and foreign corporations and government entities, of any maturity or credit quality, including high yield bonds (also known as junk bonds). The Fund defines high-yield fixed income securities as corporate bonds or other bonds or debt instruments that are generally rated lower than Baa3 by Moody?s Investors Service, Inc. (?Moody?s?) or lower than BBB- by Standard and Poor?s Rating Group (?S&P?). The percentage of the Fund?s assets allocated to fixed-income securities, and cash equivalents will vary dependent on market conditions. In selecting PIMCO Underlying Funds and Other Underlying Funds, the Adviser may also utilize information regarding a model portfolio of PIMCO Funds provided at no charge by PIMCO, although the Adviser is solely responsible for selecting the PIMCO Funds and Other Underlying Funds in which the Fund invests. PIMCO is not the adviser or sub-adviser to the Fund. Although the Fund does not intend to focus its investments in any particular sector, its portfolio may be focused in certain sectors from time to time as a result of its investment process. Further, in managing the Fund?s level of investment risk, the Adviser utilizes RiskPro , a software technology developed by ProTools, LLC, an affiliate of the Adviser. Based on proprietary algorithms, RiskPro provides an estimate of the range of gain or loss of a portfolio of securities over a forward-looking rolling twelve-month period. The higher the RiskPro estimate, the greater the level of volatility that the Fund may experience over a twelve-month period. RiskPro?s algorithms take into account, among other factors, the volatility of the portfolio over the prior twelve months; a comparison of the portfolio?s volatility over the prior twelve-month period, to the volatility of the S&P 500 Index; and the long-term volatility of the S&P 500 Index. The Adviser utilizes RiskPro to manage the Fund?s volatility as a whole, and to assess the impact of the Fund?s investment in PIMCO Underlying Funds and Other Underlying Funds. In some circumstances, the Adviser may use RiskPro to identify specific PIMCO Underlying Funds or Other Underlying Funds in which to invest, on behalf of the Fund. For this Fund, the Adviser?s goal is to limit the Fund?s maximum range of total returns, over a twelve month period, to a gain or a loss of less than 13%. Depending on market conditions, the Fund?s potential gain or loss, as estimated by RiskPro , may exceed 13% from time to time. The use of RiskPro allows investors to evaluate whether the expected volatility of the Fund, as estimated by RiskPro over a forward-looking rolling twelve-month period, is aligned with the investors? level of comfort with investment risk. Show less