Aquarius International Fund Strategy

The investment seeks capital appreciation. The fund seeks to invest, under normal circumstances, primarily in securities of companies located outside the United States, including emerging market countries. Its Sub-Advisers will invest primarily in equity securities, including common stocks, preferred stocks, convertible securities, sponsored and unsponsored depositary receipts, warrants and rights. The fund may invest a portion of its assets in fixed income securities, including securities issued by corporate and governmental issuers.