MHFAX : AXS Managed Futures Strategy Fund Class A Shares

Fund Summary

The investment seeks to achieve capital appreciation in both rising and falling (bull and bear) equity markets with an annualized level of volatility that is generally lower than the historic level of volatility experienced by the S&P 500 Index. The fund pursues its investment objective primarily by investing directly or indirectly through its wholly-owned and controlled subsidiary formed under the laws of the Cayman Islands (the "Subsidiary"). It may invest up to approximately 25% of its total assets in the Subsidiary, which has the same investment objective as the fund.