Fund Description

The fund seeks long-term capital appreciation by investing in ETFs, mutual funds, derivatives, and/or cash and cash equivalents. It mainly uses underlying funds that generally invest in equity securities and derivatives, including domestic and international securities and emerging markets, and may include small- and mid-cap exposure. The fund and its underlying funds may use options and futures, leverage and inverse strategies, and may take long and short positions, subject to applicable regulatory limits, with ongoing rebalancing. The advisor uses quantitative technical analysis and algorithmic composites to identify trends, shifting toward leveraged equity exposure in rising markets and toward cash, cash equivalents, or inverse exposure when trends weaken; it may also invest in longer-maturity fixed income. It is non-diversified and may trade frequently with high turnover.