Strategy. Rocky Mountain Private Wealth Management, L.L.C. (the Adviser or Rocky Mountain) seeks to achieve the Funds investment objective by investing opportunistically in assets that include, but are not limited to: (i) fixed income securities of domestic, foreign, and emerging markets, corporate and government issuers, without restriction as to maturity or credit quality, including high yield securities (commonly known as junk bonds); (ii) equity securities (common and preferred stock) of both domestic and foreign companies of various sizes; (iii) swap contracts on individual stocks, stock mutual funds and exchange-traded funds (ETFs); and (iv) money market instruments, including cash and cash equivalents (each, an Asset Class). The Advisers strategy employs broad diversification across various Asset Classes (investment categories), markets, industries and issuers … Show more… Rocky Mountain Private Wealth Management, L.L.C. (the Adviser or Rocky Mountain) seeks to achieve the Funds investment objective by investing opportunistically in assets that include, but are not limited to: (i) fixed income securities of domestic, foreign, and emerging markets, corporate and government issuers, without restriction as to maturity or credit quality, including high yield securities (commonly known as junk bonds); (ii) equity securities (common and preferred stock) of both domestic and foreign companies of various sizes; (iii) swap contracts on individual stocks, stock mutual funds and exchange-traded funds (ETFs); and (iv) money market instruments, including cash and cash equivalents (each, an Asset Class). The Advisers strategy employs broad diversification across various Asset Classes (investment categories), markets, industries and issuers in an effort to limit volatility as well as to seek opportunities to enhance total return. The Funds exposure to such Asset Classes is from a combination of direct investments in securities (e.g., fixed income securities) and by indirect exposure to Asset Classes through investing in open-end investment companies (mutual funds) and/or ETFs (collectively, Underlying Funds). The Adviser constructs the Funds broadly-diversified investment portfolio by investing at various times in a wide range of direct investments and Underlying Funds that invest in various Asset Classes. The Fund defines high yield securities, also known as junk bonds, as fixed income securities rated below investment grade (rated BB+ or lower by S&P Global Ratings or comparably rated by another nationally recognized statistical rating organization (NRSRO)), and if unrated, determined by the Adviser to be of comparable quality. The Adviser constructs the Funds portfolio by selecting Asset Classes that the Adviser believes will provide diversification with respect to a variety of economic factors. Once the Adviser has determined the appropriate Asset Classes in which to invest, the Adviser identifies a variety of diversified investment opportunities, either directly, or through investments in Underlying Funds. With respect to investments in Underlying Funds, the Adviser attempts to identify Underlying Funds with managers whose history and track record demonstrates an ability to add positive alpha (above-peer-group-average total return after adjusting for volatility). On an ongoing basis, the Adviser monitors each of the Funds investments daily, and buys, sells or hedges the Funds positions based upon the Advisers investment signals, portfolio manager experience and other factors. The Fund may employ leverage achieved through the use of swaps, as well as bank borrowings and other instruments to leverage the returns of the Funds portfolio to take advantage of market opportunities. However, these instruments may also be used for hedging purposes. The overall asset allocation of the Fund is not fixed. It can and will change significantly over time as the Adviser decides to re-allocate portions of the Funds portfolio in response to trend changes in the U.S. and global economy and in various investment markets. The Adviser may engage in frequent buying and selling of portfolio securities to achieve the Funds investment objectives, resulting in a high portfolio turnover rate. Show less