Strategy. The Fund?s investment adviser, Advisors Preferred, LLC (the ?Adviser?), delegates execution of the Fund?s investment strategy to the subadviser, Flexible Plan Investments, Ltd. (?FPI? or the ?Subadviser?). The Subadviser selects investments for the Fund and provides trade placement for directly issued fixed income instruments, including cash equivalents, non-fixed income instruments, and fixed indirect income instruments, such as mutual funds, ETFs, futures, swaps, and pooled investment vehicles that invest primarily I debt instruments. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in fixed income securities. The Fund defines fixed income securities as debt instruments, exchange-traded funds (ETFs) and mutual funds that invest primarily in debt instruments, futures and swap contracts … Show more… The Fund?s investment adviser, Advisors Preferred, LLC (the ?Adviser?), delegates execution of the Fund?s investment strategy to the subadviser, Flexible Plan Investments, Ltd. (?FPI? or the ?Subadviser?). The Subadviser selects investments for the Fund and provides trade placement for directly issued fixed income instruments, including cash equivalents, non-fixed income instruments, and fixed indirect income instruments, such as mutual funds, ETFs, futures, swaps, and pooled investment vehicles that invest primarily I debt instruments. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowing for investment purposes) in fixed income securities. The Fund defines fixed income securities as debt instruments, exchange-traded funds (ETFs) and mutual funds that invest primarily in debt instruments, futures and swap contracts on debt instruments and pooled investment vehicles that invest primarily in the preceding. The Fund invests in ETFs, mutual funds and pooled investment vehicles that are not affiliated with the Adviser or Subadviser. The Fund invests primarily in high yield debt (commonly known as junk bonds and to a lesser extent, US government debt. The Fund invests in fixed income securities without any restriction on maturity or credit quality. The Fund may gain long or short exposure to fixed income securities regardless of whether they generate income or dividends. Short (inverse) positions are designed to profit from a decline in the price of particular securities, investments in securities or indices. The Fund employs inverse and short positions for hedging purposes or to capture returns in down markets. The Subadviser seeks interest income from debt instruments. The Subadviser also seeks capital gains by changing asset allocation including short positions. Additionally, the Subadviser uses an aggressive tactical management strategy that typically results in high portfolio turnover. The Subadviser employs a number of investment models, which are driven by sub-strategies, to allocate assets and select long and short exposures. The sub-strategies are chosen and rebalanced periodically using the Subadviser's portfolio allocation algorithm to create a portfolio that aims for a balance of higher return, lower correlation, and lower volatility as compared to a buy and hold position in a high yield debt index. The Subadviser monitors the performance of the models and sub-strategies and may modify the methodologies and add or subtract models or sub-strategies at any time based on the results of its research processes. Show less