AEQAX : Ascendant Deep Value Bond Fund Class A Shares

Fund Summary

The investment seeks total return from income and growth of capital. The fund invests at least 80% of its net assets (plus any borrowings) in open-end investment companies (mutual funds), closed-end funds and exchange-traded funds ("ETFs") (collectively, "underlying funds") that primarily invest in bonds and other fixed-income securities. Such fixed income securities may be issued by U.S. or foreign companies, without restriction as to issuer country, market capitalization or maturity. The securities are purchased without restriction as to credit quality, including those with below investment grade credit quality, commonly known as "junk bonds."