Vela Short Duration Fund - Class I VESDX Strategy

The investment seeks to provide current income while the secondary objectives are protection of principal and competitive total return. The fund, under normal market conditions, invests at least 80% of its assets in fixed income securities across a broad group of industries, geographies, and company market capitalizations. To achieve these goals, the fund will primarily own corporate bonds of U.S. domiciled companies and can also own securities issued or guaranteed by the U.S. government, its agencies or government-sponsored enterprises, money market instruments, mortgage-backed and asset-backed securities, loans, non-rated securities.