Strategy. The Funds adviser, Tactical Fund Advisors, LLC (the Adviser), delegates the daily management of the Funds assets to multiple sub-advisers. The Adviser is responsible for the overall management of the Fund, overseeing the Funds sub-advisers and determining the amount of the Funds assets that each sub-adviser will manage, which will vary from time to time. The Fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets in income-producing securities. These securities include both debt and equity securities. Income-producing debt securities include sovereign, municipal, and corporate debt securities, and other investment companies, including exchange-traded funds (ETFs) that invest in such securities. Income-producing equity securities include preferred stock, dividend-paying equity securities, and other investment companies, including … Show more… The Funds adviser, Tactical Fund Advisors, LLC (the Adviser), delegates the daily management of the Funds assets to multiple sub-advisers. The Adviser is responsible for the overall management of the Fund, overseeing the Funds sub-advisers and determining the amount of the Funds assets that each sub-adviser will manage, which will vary from time to time. The Fund pursues its objective by investing, under normal circumstances, at least 80% of its net assets in income-producing securities. These securities include both debt and equity securities. Income-producing debt securities include sovereign, municipal, and corporate debt securities, and other investment companies, including exchange-traded funds (ETFs) that invest in such securities. Income-producing equity securities include preferred stock, dividend-paying equity securities, and other investment companies, including ETFs, that invest in such securities. The Fund may invest in debt securities or ETFs of any credit quality and with any duration, including high-yield bonds (commonly known as junk bonds). High yield bonds are securities that are generally rated below investment grade by the primary rating agencies (BBB- or lower by S&P and Baa3 or lower by Moodys). The Fund normally invests at least 50% of its total assets in ETFs that invest in both domestic and foreign U.S. Dollar-denominated securities, including leveraged fixed-income ETFs. The blend of domestic versus foreign securities will change over time according to the sub-advisers dynamic strategies, with no pre-set limitation on the percentage balance at any one time. The Funds sub-advisers invest the assets delegated to them by the Adviser as follows: Synergy Asset Management, LLC (Synergy) Synergy invests its allocation of the Funds assets via a portfolio management approach known as Focused Tactical Allocation. This strategy seeks to position assets to capitalize on the prevailing market factors and conditions. Diverging from the conventional Modern Portfolio Theory, the strategy is constructed upon an innovative mathematical fusion of technical and fundamental insights. The strategy is consistently monitored and rests on the foundation of diligent and continuous assessment of global markets. The rebalancing process enables the strategy to adapt to changing market conditions while maintaining a disciplined approach to asset allocation. Heritage Capital Advisors, LLC (Heritage) Heritage invests its allocation of the Funds assets in a diversified portfolio of global fixed income and equity securities providing global fixed income-oriented and equity exposure. Multiple allocation strategies are employed to enhance portfolio income and diversification. The Fund expects to have a high portfolio turnover, which may result in higher transactional costs. Show less