Tactical Multi-Purpose Fund TMPFX Strategy

The investment seeks positive total returns over the long-term regardless of market conditions in the U.S. and foreign equity markets. The fund is designed to be used by the Adviser to facilitate moving groups of clients into and out of defensive and special situation investments efficiently based on the Adviser's perceptions of market risks and opportunities. It is not limited as to the maturity of its fixed-income investments. The fund is not limited as to the debt quality of its fixed-income investments. It may also sell securities short. The fund is non-diversified.