Toews Hedged U.S. Fund THLGX Strategy

The investment seeks to provide long-term growth of capital; a secondary objective of the fund is to limit risk during unfavorable market conditions. The fund invests primarily in equity index futures contracts, as well as U.S. large cap stocks, ETFs that primarily invest in U.S. large cap stocks, investment grade fixed income securities, ETFs that primarily invest in investment grade fixed income securities, cash equivalents and futures contracts on investment grade fixed-income securities and U.S. treasury securities. The adviser primarily uses technical analysis of large-cap equity markets.