The Ironclad Managed Risk Fund may help diversify your investment portfolio by introducing an alternative return stream that does not rely on increasing equity prices or decreasing interest rates.

Volatility

Traditionally a drag on equity portfolios, the Fund has the potential to monetize higher levels of volatility to generate income and gains.

Interest Rates

The Fund has an opportunity to benefit from increasing interest rates as its investments in short-term investment grade debt mature.

Liquidity

As a registered open-end mutual fund, investors may redeem shares on any business day.

Tax Efficiency

Typically, a significant portion of the Fund's return will be classified as a long-term capital gain.

Transparency

The Fund invests in exchange traded securities and short-term investment grade debt.

An investment in the Fund involves risk, including the possible loss of principal. The value of the Fund’s positions in options will fluctuate in response to changes in the values of the assets they track and may be subject to greater fluctuations in value than investments in the underlying assets. The risk involved in selling a put option is that the market value of the underlying security could decrease and the option could be exercised, obligating the seller of the put option to buy the underlying security from the purchaser at an exercise price that is higher than its prevailing market price. The trading of options is a highly specialized activity that entails greater than ordinary investment risks.

Fixed-income securities respond to economic developments, particularly interest rate changes and the creditworthiness of individual issuers. Changes in interest rates may cause the value of a security to fluctuate, with lower rated securities more volatile than higher rated securities.