Navigator Tactical U.S. Allocation Fund Class I NTAIX

The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets (plus borrowings for investment purposes, if any) in U.S. equity and fixed income securities. The adviser defines equity securities as including individual U.S. stocks of any market capitalization, exchange traded funds and mutual funds (“underlying funds”) that primarily invest in equity securities, and futures, options, and swaps on equity securities and indices. The fund may invest in debt securities of any maturity or credit quality, including those rated below investment grade (“high yield securities” or “junk bonds”).