Overview

Recently launched (12/31/2020) multisector bond fund with an emphasis on higher yielding bonds.

Objective

Achieve long-term investment returns primarily by investing in a portfolio of income producing securities that may have the potential for capital appreciation.

Types of Investments

The Fund can invest in U.S. government securities, corporate debt securities (including high-yield debt securities), municipal securities, mortgage-backed securities, commercial mortgage-backed securities, and other asset-backed securities.

Performance

Total Returns as of YTD 1-Year Since Inception Inception Date
Class I-----1/1/2021
Total Returns as of YTD 1-Year Since Inception Inception Date
Class I-----1/1/2021

Performance data quoted represents past performance which does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. Current performance may be lower or higher than the performance quoted. For periods less than one year, performance is cumulative. For performance data current to the most recent month-end please see table above.

Pursuant to an operating expense limitation agreement between the Fund's investment adviser, PT Asset Management, LLC (the "Adviser"), and the Trust, on behalf of the Fund, the Adviser has agreed to waive its management fees and/or reimburse Fund expenses to ensure that Total Annual Fund Operating Expenses (exclusive of any Excluded Expenses) for Institutional Class shares do not exceed 0.99% of the Fund's average daily net assets through at least December 31, 2023.

The index performance is not illustrative of the Fund's performance and performance of the Fund will differ; the use of the index performance is not intended to mask negative performance.

The distribution information shown in the table above is presented for informational purposes only; they are subject to change and may not be accurate or complete for tax reporting. This information is not intended to be a substitute for specific tax documents or specific individualized tax, legal or investment planning advice. Where specific advice is necessary or appropriate, we recommend consultation with a qualified tax advisor, CPA, or Financial Planner.

Portfolio

The credit quality of the securities in a portfolio is assigned by a nationally recognized statistical rating organization (NRSRO) such as Standard & Poor's, Moody's, or Fitch, as an indication of an issuer's creditworthiness. Ratings range from 'AAA' (highest) to 'D' (lowest). Bonds rated 'BBB' or above are considered investment grade. Credit ratings 'BB' and below are lower-rated securities. High yielding, non-investment-grade bonds involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities.

Management Team

G. Michael Plaiss

G. Michael Plaiss, CFA

Senior Portfolio Manager

Anthony Harris

Anthony Harris, CPA

Senior Portfolio Manager

Lars Anderson

Lars Anderson, CFA

Portfolio Manager

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