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<font style="font-size:10.0pt; font-family:Times New Roman">FUND SUMMARY – CAMELOT PREMIUM RETURN FUND</font>
<b><font style="font-size:10.0pt; font-family:Times New Roman">Investment Objective:</font></b><font style="font-size:10.0pt; font-family:Times New Roman"> </font>
<p><font style="font-size:10.0pt">The Fund’s objective is to achieve a consistent high rate of gains and total return with lower volatility than common stocks as measured by standard deviation.</font></p>
<b><font style="font-size:10.0pt; font-family:Times New Roman">Fees and Expenses of the Fund:</font></b>
<font style="font-size:10.0pt; font-family:Times New Roman">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund.  You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.  More information about these and other discounts is available from your financial professional and in How to Buy Shares on page 8 of the Fund's Prospectus.</font>
<p><b><font style="font-size:10.0pt">Shareholder Fees</font></b></p> <b><font style="font-size:10.0pt; font-family:Times New Roman">(fees paid directly from your investment)</font></b>
<p><b><font style="font-size:10.0pt">Annual Fund Operating Expenses</font></b></p> <b><font style="font-size:10.0pt; font-family:Times New Roman">(expenses that you pay each year as a percentage of the value of your investment)</font></b>
<b><u><font style="font-size:10.0pt; font-family:Times New Roman">Example:</font></u></b><font style="font-size:10.0pt; font-family:Times New Roman"> </font>
<font style="font-size:10.0pt; font-family:Times New Roman">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.  The Example assumes that you invest $10,000 in the Fund for the time periods indicated, and then redeem all of your shares at the end of those periods.  The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same.  Although your actual costs may be higher or lower, based on these assumptions your costs would be:</font>
<b><u><font style="font-size:10.0pt; font-family:Times New Roman">Portfolio Turnover:</font></u></b><font style="font-size:10.0pt; font-family:Times New Roman"> </font>
<font style="font-size:10.0pt; font-family:Times New Roman">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).  A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.  These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. The portfolio turnover rate of the Fund for the fiscal year ended September 30, 2012 was 44%.</font>
<b><font style="font-size:10.0pt; font-family:Times New Roman">Principal Investment Strategies</font></b>
<p><font style="font-size:10.0pt">The Fund seeks to achieve its investment objectives primarily through equity-based option writing strategies including puts and covered calls. The premium the Fund receives from writing options generates gains for the Fund. The Fund may also invest in dividend-paying or non-dividend-paying common stocks with market capitalizations of at least $1 billion. Consistent with the Fund’s objective, the Advisor focuses on: (i) generating and distributing a consistent stream of cash flows, (ii) total return and (iii) reduced volatility.</font></p> <p><font style="font-size:10.0pt"> </font></p> <p><font style="font-size:10.0pt">As part of its investment strategy, the Fund writes puts where the Fund sells put options on equity securities. Typically, the Fund will write 3-6 month put options on 25-50 stocks that the Advisor believes present strong total-return potential. The Fund will write put options on stocks that have consistent high quality earnings and cash flow that the Advisor believes are undervalued. If a put option is exercised, requiring the Fund to purchase the stock for its portfolio, the Fund may hold the stock for capital appreciation potential, hold the stock and write covered call options on it, sell the stock and write new put options or sell the stock. If the Advisor believes the stock is significantly undervalued, the Fund may just hold the stock. If the Advisor believes the stock is moderately undervalued, the Fund may hold the stock and write call options on it. If the Advisor believes the stock is at or above fair value, the Fund may sell the stock.  </font></p> <p><font style="font-size:10.0pt"> </font></p> <font style="font-size:10.0pt; font-family:Times New Roman">The Fund is classified as “non-diversified” for purposes of the Investment Company Act of 1940 (the “1940 Act”), which means that it is not limited by the 1940 Act with regard to the portion of its assets that may be invested in the securities of a single issuer.</font>
<b><font style="font-size:10.0pt; font-family:Times New Roman">Principal Risks of Investing in the Fund</font></b>
<p><font style="font-size:10.0pt">As with any mutual fund, there is no guarantee that the Fund will achieve its goal. The Fund’s returns will vary and you could lose money on your investment in the Fund.  </font></p> <p><font style="font-size:10.0pt"> </font></p> <p style="margin-top:0in; margin-right:0in; margin-bottom:6.0pt; margin-left:.5in; text-align:justify; text-indent:-.25in; tab-stops:.5in"><font style="font-size:10.0pt; font-family:Symbol">·      </font><b><font style="font-size:10.0pt">Management Risk.  </font></b><font style="font-size:10.0pt">The portfol</font><font style="font-size:10.0pt">io manager’s judgments about the attractiveness, value and potential appreciation of particular stocks, options or other securities in which the Fund invests or sells short may prove to be incorrect and there is no guarantee that the portfolio manager’s judgment will produce the desired results.  </font></p> <p style="margin-top:0in; margin-right:0in; margin-bottom:6.0pt; margin-left:.5in; text-align:justify; text-indent:-.25in; tab-stops:.5in"><font style="font-size:10.0pt; font-family:Symbol">·      </font><b><font style="font-size:10.0pt">Market Risk.  </font></b><font style="font-size:10.0pt">Overall stock market risks may also affect the value of the Fund.  Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets.</font></p> <p style="margin-top:0in; margin-right:0in; margin-bottom:6.0pt; margin-left:.5in; text-align:justify; text-indent:-.25in; tab-stops:.5in"><font style="font-size:10.0pt; font-family:Symbol">·      </font><b><font style="font-size:10.0pt">Smaller Capitalization Stock Risk. </font></b><font style="font-size:10.0pt">Smaller-sized companies may experience higher failure rates than larger companies. Smaller-sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Smaller-sized companies may have limited markets, product lines or financial resources and may lack management experience.</font></p> <p style="margin-top:0in; margin-right:0in; margin-bottom:6.0pt; margin-left:.5in; text-align:justify; text-indent:-.25in; tab-stops:.5in"><font style="font-size:10.0pt; font-family:Symbol">·      </font><b><font style="font-size:10.0pt">Non-diversification Risk. </font></b><font style="font-size:10.0pt">Because a relatively high percentage of a non-diversified Fund’s assets may be invested in the securities of a limited number of companies that could be in the same or related economic sectors, the Fund’s portfolio may be more susceptible to any single economic, technological or regulatory occurrence than the portfolio of a diversified fund.</font></p> <p style="margin-top:0in; margin-right:0in; margin-bottom:6.0pt; margin-left:.5in; text-align:justify; text-indent:-.25in; tab-stops:.5in"><font style="font-size:10.0pt; font-family:Symbol">·      </font><b><font style="font-size:10.0pt">Options Risk.</font></b><font style="font-size:10.0pt"> There are risks associated with the sale and purchase of call and put options. As the seller (writer) of a put option, the Fund will lose money if the value of the security falls below the strike price. As the seller (writer) of a covered call option, the Fund assumes the risk of a decline in the market price of the underlying security below the purchase price of the underlying security less the premium received, and gives up the opportunity for gain on the underlying security above the exercise option price. </font></p> <p style="margin-top:0in; margin-right:0in; margin-bottom:6.0pt; margin-left:.5in; text-align:justify; text-indent:-.25in; tab-stops:.5in"><font style="font-size:10.0pt; font-family:Symbol">·      </font><b><font style="font-size:10.0pt">Security Risk.  </font></b><font style="font-size:10.0pt">The value of the Fund may decrease in response to the activities and financial prospects of an individual security in the Fund’s portfolio.</font></p> <p style="margin-left:.5in; text-indent:-.25in"><font style="font-size:10.0pt; font-family:Symbol">·      </font><b><font style="font-size:10.0pt">Stock Market Value Risk.</font></b><font style="font-size:10.0pt">  </font><font style="font-size:10.0pt">Overall stock market risks may also affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets.</font> </p>
<b><font style="font-size:10.0pt; font-family:Times New Roman">Performance:</font></b>
<font style="font-size:10.0pt; font-family:Times New Roman">The bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return of its Class A shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad measure of market performance.  How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future. Although Class C shares would have similar annual returns to Class A shares because the classes are invested in the same portfolio of securities, the returns for Class C shares would be different from Class A shares because Class C shares have different expenses than Class A shares. Updated performance information will be available at no cost by calling 855-226-3863.</font>
<b><font style="font-size:10.0pt; font-family:Times New Roman; color:black">Annual Total Returns</font></b>
<p><font style="font-size:10.0pt">Figures do not reflect sales charges.  If they did, returns would be lower. </font></p> <p><font style="font-size:10.0pt"> </font></p> <p><font style="font-size:10.0pt">During the period shown in the bar chart, the highest return for a quarter was 11.21% (quarter ended March 31, 2012), and the lowest return for a quarter was (16.73%) (quarter ended September 30, 2011).</font> </p>
<p><b><font style="font-size:10.0pt">Average Annual Total Returns</font></b></p> <b><font style="font-size:10.0pt; font-family:Times New Roman">(for the periods ended, December 31, 2012)</font></b>
<font style="font-size:10.0pt; font-family:Times New Roman">After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes.  Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown.  After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities. After-tax returns are only shown for Class A shares. After-tax returns for Class C shares will vary.</font>
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<font style="font-size:10.0pt; font-family:Times New Roman">The Fund’s returns will vary and you could lose money on your investment in the Fund.</font>
<font style="font-size:10.0pt; font-family:Times New Roman">How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future.</font>
<font style="font-size:10.0pt; font-family:Times New Roman">855-226-3863</font>
<font style="font-size:10.0pt; font-family:Times New Roman">highest return for a quarter</font>
2012-03-31
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<font style="font-size:10.0pt; font-family:Times New Roman">lowest return for a quarter</font>
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2011-09-30
<font style="font-size:10.0pt; font-family:Times New Roman">After-tax returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state and local taxes.</font>
<font style="font-size:10.0pt; font-family:Times New Roman">After-tax returns are not relevant for shareholders who hold Fund shares in tax-deferred accounts or to shares held by non-taxable entities.</font>
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Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial statements include only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.
The advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund but only to the extent necessary to maintain in the Fund's total annual operating expenses (excluding brokerage costs, such as (a) interest and (b) dividends on securities sold short; taxes; underlying fund expenses; 12b-1 plan distribution expenses and extraordinary expenses) at 1.50% through January 31, 2014. This agreement may be terminated by the Fund's Board of Trustees on 60 days' written notice to the advisor.
Fund Inception Date 12/27/2010