Shenkman Capital Floating Rate High Income Fund Institutional Class SFHIX Strategy

The investment seeks to generate a high level of current income. The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of senior secured and unsecured floating rate bank loans and other floating rate instruments. The loans and other instruments in which the fund invests include bank loans to corporate borrowers, traditional corporate bonds, notes, debentures, zero-coupon bonds, collateralized loan obligations and other corporate debt securities, and obligations of the U.S. government and government-sponsored entities.