Strategy. The Fund seeks to achieve its investment objective by primarily investing in the common stock of companies that demonstrate ?Monopolistic Attributes.? Such companies may possess Monopolistic Attributes either: (1) individually by dominating a market with limited to no competition for its products or services from other companies (a monopoly); or (2) dominate a market collectively with one or more other companies that sell similar products or services with limited to no competition from others (an oligopoly). Such characteristics typically allow these companies to earn substantial economic rents (i.e., charge higher prices or incur lower costs than competitors), maintain robust pricing power, and sustain strong revenue and earnings growth over time. Under normal market conditions, the Fund invests in U.S. and … Show more… The Fund seeks to achieve its investment objective by primarily investing in the common stock of companies that demonstrate ?Monopolistic Attributes.? Such companies may possess Monopolistic Attributes either: (1) individually by dominating a market with limited to no competition for its products or services from other companies (a monopoly); or (2) dominate a market collectively with one or more other companies that sell similar products or services with limited to no competition from others (an oligopoly). Such characteristics typically allow these companies to earn substantial economic rents (i.e., charge higher prices or incur lower costs than competitors), maintain robust pricing power, and sustain strong revenue and earnings growth over time. Under normal market conditions, the Fund invests in U.S. and non-U.S. companies with market capitalizations of at least $2 billion and that are traded on U.S. exchanges including American depository receipts (?ADRs?). The Fund?s portfolio is predominantly market cap weighted, meaning investments in the Fund are allocated based on the size of the companies. However, the Fund?s investment sub-advisor, Rareview Capital LLC (the ?Sub-Advisor?) uses its discretion to determine final portfolio weightings . Companies are selected for investment by the Sub-Advisor based on qualitative analysis of the Monopolistic Attributes of a company as well as quantitative analysis of various financial performance metrics such as revenue growth, profit margin, return on investment, return on equity, debt-to-equity ratio and earnings per share. Monopolistic Attributes of a company include but are not limited to: (i) brand dominance; (ii) regulatory exclusivity (i.e., when a company gets special protection from the government that prevents other companies from competing with it for a certain period of time); (iii) industry concentration (i.e., possession of a substantial share of the market); (iv) historical antitrust reviews (i.e., previous government accusations of antitrust law violations); (v) monopolistic or oligopolistic economic rents; (vi) high barriers of market entry; (vii) pricing power (i.e., a company?s ability to increase prices without losing customers); (viii) vertically integrated and control of the supply chain (i.e., the company owns or directly manages all the steps needed to make and sell its product); (ix) benefits from network effects (i.e., a product or service that becomes more valuable as more people use it); and (x) protected intellectual property or patents. To be considered for investment by the Fund, companies must possess one or more of these attributes. The Sub-Advisor has broad discretion to invest in companies that it believes possess one or more of these Monopolistic Attributes and exhibit strong financial performance metrics and will sell companies that it believes no longer possess or exhibit these Monopolistic Attributes and/or attractive financial performance metrics. The Fund expects to typically hold approximately 75 to 125 companies. The Fund may have significant exposures to specific sectors, such as information technology. The Fund will not invest in federal or state regulated utilities that have price controls. The Fund is classified as a ?non-diversified? investment company under the Investment Company Act of 1940, as amended (the ?1940 Act?), which means that it may invest a high percentage of its assets in a limited number of issuers. Show less