ATYIX : Ascendant Tactical Yield Fund Class I

Fund Summary

The investment seeks capital preservation with a secondary objective of total return. The fund allocates its assets primarily to mutual funds that invest in different segments of the fixed income market of any maturity including high yield, U.S. government and Agency debt securities, foreign government debt securities, investment grade U.S. corporate debt securities, floating rate instruments, municipal bonds, convertible bonds and money market funds. It may invest in other mutual funds managed by the fund's investment adviser. The fund may invest in "short" or "inverse" mutual funds to hedge other portfolio exposures.