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</ElementReferences><IsTotalLabel>true</IsTotalLabel><UnitID>0</UnitID><Label>Net Annual Fund Operating Expenses</Label></Row></Rows><Footnotes><Footnote><NoteId>1</NoteId><Note>Since the Fund is newly organized, "Other Expenses" are based on estimated expenses for the current fiscal year.</Note></Footnote><Footnote><NoteId>2</NoteId><Note>"Acquired Fund" means any investment company in which the Fund invests or has invested during the period.  Since the Fund is newly organized, "Acquired Fund Fees and Expenses" are based on estimated expenses for the current fiscal year.  The "Total Annual Fund Operating Expenses" and "Net Annual Fund Operating Expenses" will not match the Fund's gross and net expense ratios reported in the Financial Highlights from the Fund's financial statements, which will reflect the operating expenses of the Fund and do not include Acquired Fund Fees and Expenses.</Note></Footnote><Footnote><NoteId>3</NoteId><Note>The Fund's administrator has entered into a Fund Accounting and Administration Agreement with the Fund that covers the regular operating expenses of the Fund for an inclusive fee of 0.25% (with the exception of management fees, distribution and/or service (12b-1) fees, acquired fund fees and expenses, and extraordinary expenses), even if such operating expenses exceed the inclusive fee.  The agreement runs through October 1, 2014 and can only be terminated prior to that date at the discretion of the Fund's Board of Trustees.  The Fund's administrator cannot recoup from the Fund any regular operating expenses in excess of the inclusive fee.  In conjunction with the Fund Accounting and Administration Agreement, the Advisor has entered into an Operating Plan with the Fund's administrator, also through October 1, 2014 under which it has agreed (i) to pay the administrator a fee based on the daily average net assets of the Fund when net assets are below $39 million; (ii) if these payments are less than a designated minimum, then the Advisor pays a fee that makes up the difference; and (iii) to assume expenses of the Fund outlined in the Operating Plan that are not covered by the fee paid under Fund Accounting and Administration Agreement.  These measures are intended to limit the Fund's operating expenses to 0.70% of the average daily net assets, exclusive of brokerage fees and commissions, taxes, borrowing costs (such as interest or dividend expenses on securities sold short), acquired fund fees and expenses, extraordinary expenses, and distribution and/or service (12b-1) fees.  The Fund's net expense ratio will be higher than 0.70% to the extent that the Fund incurs expenses excluded from this arrangement.  The Operating Plan can only be terminated prior to the conclusion of the current term with the approval of the Fund's Board of Trustees.</Note></Footnote></Footnotes><IsEquityReport>false</IsEquityReport><ReportName>Annual Fund Operating Expenses -



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 -Section 3



 -Subsection instructions



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</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Expense Example [Heading]</Label></Row><Row FlagID="0"><Id>12</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

</LabelSeparator><Level>4</Level><ElementName>rr_ExpenseExampleNarrativeTextBlock</ElementName><ElementPrefix>rr_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="Duration_7_17_2013_To_7_17_2013_dei_LegalEntityAxis_cik0001464413_S000038302Member" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div&gt; &lt;div class="MetaData" style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.&amp;nbsp;&amp;nbsp;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.&amp;nbsp;&amp;nbsp;The example also assumes that your investment has a 5% return each year and the Fund's operating expenses remain the same.&amp;nbsp;&amp;nbsp;Although your actual costs may be higher or lower, based on these assumptions your costs would be:&lt;/font&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>The Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



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Rx Non Traditional Fund

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Rx Non Traditional Fund

(USD $)</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>false</HasCustomUnits><IsEmbedReport>false</IsEmbedReport><IsMultiCurrency>false</IsMultiCurrency><ReportType>Sheet</ReportType><RoleURI /><NumberOfCols>2</NumberOfCols><NumberOfRows>2</NumberOfRows></InstanceReport><duprows>2</duprows><dupcols>2</dupcols><colcnt>2</colcnt><rowcnt>2</rowcnt><recurs1>0</recurs1><recurs2>13</recurs2><ColumnIterators><CommandIterator><Type>Column</Type><SelectionString>period</SelectionString><Selection>Period</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Column</Type><SelectionString>primary</SelectionString><Selection>Element</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator></ColumnIterators><RowIterators><CommandIterator><Type>Row</Type><SelectionString>dei_LegalEntityAxis</SelectionString><Selection>Axis</Selection><Style>Compact</Style><Filter>cik0001464413_S000038302Member</Filter></CommandIterator><CommandIterator><Type>Row</Type><SelectionString>rr_ProspectusShareClassAxis</SelectionString><Selection>Axis</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator><CommandIterator><Type>Row</Type><SelectionString>unit</SelectionString><Selection>Unit</Selection><Style>Compact</Style><Filter>*</Filter></CommandIterator></RowIterators></EmbeddedReport><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Contains a command for the SEC Viewer for the role corresponding to ExpenseExampleNoRedemption.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Expense Example, No Redemption [Table]</Label></Row><Row FlagID="0"><Id>16</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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</LabelSeparator><Level>4</Level><ElementName>rr_StrategyHeading</ElementName><ElementPrefix>rr_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="Duration_7_17_2013_To_7_17_2013_dei_LegalEntityAxis_cik0001464413_S000038302Member" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div class="MetaData" style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; font-weight: bold; display: inline;"&gt;PRINCIPAL INVESTMENT STRATEGIES&lt;/font&gt;&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Principal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



 -Publisher SEC



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&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;The Fund is a "fund of funds" that principally invests in other mutual funds.&amp;nbsp;&amp;nbsp;The Fund's investment advisor, FolioMetrix, LLC (the "Advisor"), seeks to achieve the Fund's investment objective of total return by investing in no-load, institutional, and exchange-traded funds that are registered under the &lt;/font&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;Investment Company Act of 1940 and not affiliated with the Fund ("Portfolio Funds").&amp;nbsp;&amp;nbsp;Although the Fund principally invests in Portfolio Funds with no sales related expenses or very low sales related expenses, the Fund is not precluded from investing in Portfolio Funds with sales-related expenses, redemption fees, and/or service fees.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;The Fund will principally invest in Portfolio Funds that have an investment objective similar to the Fund's or that are otherwise permitted investments under the Fund's investment policies.&amp;nbsp;&amp;nbsp;The Portfolio Funds will utilize alternative, or non-traditional, investment strategies and asset classes , principally the following: (i) l ong/short strategies that involve buying securities that are expected to increase in value and selling others short that are expected to decrease in value; (ii) market neutral strategies that seek to deliver consistent returns regardless of the direction the overall market movements, typically through a combination of long and short positions; (iii) m anaged futures strategies that take long and short investments in futures contracts and options on futures contracts; (iv) merger arbitrage strategies that attempt to profit from the successful completion of mergers and other corporate reorganizations; (v) commodity related strategies that invest in commodity-linked derivatives or directly in physical commodities, as well as in securities issued by companies principally engaged in the energy, metals, and agriculture industries; and (vi) currency strategies that attempt to profit by obtaining exposure to global currencies through forward contracts, spot transactions, and currency options. &lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;The Portfolio Funds' investments may consist of equity securities (common stock, preferred stock, convertible preferred stock, convertible bonds, and warrants) and fixed income securities (bonds, corporate debt securities, convertible securities, and government securities).&amp;nbsp;&amp;nbsp; In addition, the Portfolio Funds may invest in derivative instruments (principally consisting of options, futures contracts, swaps, and short sales), including those that derive their value from commodities, currencies, and real estate, and utilize leverage to acquire their underlying investments.&amp;nbsp; &lt;/font&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;The Fund will not be limited in its investments by market capitalization or sector criteria, and while the Fund will not directly invest in foreign securities, the Portfolio Funds may invest in foreign securities, including foreign securities in emerging markets.&amp;nbsp;&amp;nbsp;The Portfolio Funds may invest in fixed income securities of any maturity and any credit rating, including junk bonds , bonds of issuers in default, and unrated bonds.&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;The Advisor uses a proprietary screening process to select Portfolio Funds for investment.&amp;nbsp;&amp;nbsp;The screening process includes analysis of the management team, historical statistics, and risk data.&amp;nbsp;&amp;nbsp;The Advisor will seek to construct portfolios that achieve the Fund's investment objective while providing a low correlation with global equity markets as measured by the S&amp;amp;P Global Broad Market Index.&amp;nbsp;&amp;nbsp;The Advisor will sell a Portfolio Fund when a more attractive investment opportunity is identified or the Fund's portfolio needs to be rebalanced.&amp;nbsp;&amp;nbsp;The Advisor also may sell a Portfolio Fund if there has been a change in management or unexplained deviation in strategy.&amp;nbsp;&amp;nbsp;As a result of this strategy, the Fund may have a relatively high level of portfolio turnover compared to other mutual funds.&amp;nbsp;&amp;nbsp;Portfolio turnover will not be a limiting factor in making investment decisions.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;The Fund may invest in options, futures contracts, and swaps for both speculative and hedging purposes.&amp;nbsp;&amp;nbsp;These investments can be made as a substitute for taking a direct position in the underlying asset or as part of a strategy that is intended to reduce the exposure of the Fund to various risks.&amp;nbsp;&amp;nbsp;To the extent that the Fund invests in options, futures contracts, and swaps , it will segregate assets or otherwise "cover" its positions in a manner that limits the Fund's risk of loss.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font size="2" class="_mt"&gt; &lt;/font&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Principal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



 -Publisher SEC



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</LabelSeparator><Level>4</Level><ElementName>rr_RiskHeading</ElementName><ElementPrefix>rr_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="Duration_7_17_2013_To_7_17_2013_dei_LegalEntityAxis_cik0001464413_S000038302Member" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div class="MetaData" style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; font-weight: bold; display: inline;"&gt;PRINCIPAL RISKS OF INVESTING IN THE FUND&lt;/font&gt;&lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Narrative Risk Disclosure.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



 -Publisher SEC



 -Name Form



 -Number N-1A



 -Chapter A



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</LabelSeparator><Level>4</Level><ElementName>rr_RiskNarrativeTextBlock</ElementName><ElementPrefix>rr_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="Duration_7_17_2013_To_7_17_2013_dei_LegalEntityAxis_cik0001464413_S000038302Member" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;div&gt; &lt;div class="MetaData"&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;The loss of your money is a principal risk of investing in the Fund.&lt;/font&gt;&lt;/font&gt;&amp;nbsp;&amp;nbsp;Investments in the Fund are subject to investment risks, including the possible loss of some or the entire principal amount invested.&amp;nbsp;&amp;nbsp;There can be no assurance that the Fund will be successful in meeting its investment objective.&amp;nbsp;&amp;nbsp;The Fund will be subject to the following principal risks:&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Fund of Funds Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;The Fund is a "fund of funds."&amp;nbsp;&amp;nbsp;The term "fund of funds" is typically used to describe investment companies, such as the Fund, whose principal investment strategy involves investing in other investment companies, &lt;font class="_mt" style="display: inline;"&gt;including&lt;/font&gt; open-end mutual funds, closed-end funds, and exchange-traded funds.&amp;nbsp;&amp;nbsp;Investments in other investment companies subject the Fund to additional operating and management fees and expenses.&amp;nbsp;&amp;nbsp; I nvestors in the Fund will indirectly bear fees and expenses charged by the funds in which the Fund invests, in addition to the Fund's direct fees and expenses.&amp;nbsp;&amp;nbsp;&lt;font class="_mt" style="display: inline;"&gt;The Fund's performance depends in part upon the performance of the investment advisor to each Portfolio Fund, the strategies and instruments used by the Portfolio Funds, and the Advisor's ability to select Portfolio Funds and effectively allocate Fund assets among them&lt;/font&gt;.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Control of Portfolio Funds Risk.&lt;/font&gt;&lt;font class="_mt" style="display: inline;"&gt;&amp;nbsp;&lt;/font&gt; The Portfolio Funds each have their own unique investment objective, strategies, and risks.&amp;nbsp;&amp;nbsp;There is no guarantee that the Portfolio Funds will achieve their investment objectives and the Fund has exposure to the investment risks of the Portfolio Funds in direct proportion to the allocation of assets among the funds.&amp;nbsp;&amp;nbsp;The investment policies of the Portfolio Funds may differ from the Fund's policies. &lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;Although the Fund and the Advisor will evaluate regularly each Portfolio Fund to determine whether its investment program is consistent with the Fund's investment objective, the Advisor will not have any control over the investments made by a Portfolio Fund.&amp;nbsp;&amp;nbsp;The investment advisor to each Portfolio Fund may change aspects of its investment strategies at any time.&amp;nbsp;&amp;nbsp;The Advisor will not have the ability to control or otherwise influence the composition of the investment portfolio of a Portfolio Fund.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Market Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;Market risk refers to the possibility that the value of securities held by the Fund may decline &lt;font class="_mt" style="display: inline;"&gt;due to daily fluctuations in the market&lt;/font&gt;.&amp;nbsp;&amp;nbsp;Market prices for securities change daily as a result of many factors, including developments affecting the condition of both individual companies and the market in general.&amp;nbsp;&amp;nbsp;The price of a security may&lt;font class="_mt" style="display: inline;"&gt; even be affected by factors unrelated to the value or condition of its issuer, including changes in interest rates, economic and political conditions, and general market conditions.&amp;nbsp;&amp;nbsp;&lt;/font&gt;The Fund's performance per share will change daily in response to such factors&lt;font class="_mt" style="display: inline;"&gt;.&lt;/font&gt;&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Management Style Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;Different types of securities tend to shift into and out of favor with investors depending on market and economic conditions.&amp;nbsp;&amp;nbsp;The returns from the types of Portfolio Funds purchased by the Fund (growth, value, etc.) may at times be better or worse than the returns from other types of funds.&amp;nbsp;&amp;nbsp;Thus, the performance of the Fund may be better or worse than the performance of funds that focus on other types of investments, or that have a broader investment style.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Common Stock Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;Investments by the Portfolio Funds in shares of common stock may fluctuate in value response to many factors, including the activities of the individual issuers whose securities the Portfolio Fund owns, general market and economic conditions, interest rates, and specific industry changes.&amp;nbsp;&amp;nbsp;Such price fluctuations subject the Fund to potential losses.&amp;nbsp;&amp;nbsp;During temporary or extended bear markets, the value of common stocks will decline, which could also result in losses for the Fund.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; color: #333333; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Other Equity Securities Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;In addition to shares of common stock, the equity securities held by the Portfolio Funds may include preferred stocks, convertible preferred stocks, convertible bonds, and warrants.&amp;nbsp;&amp;nbsp;Like shares of common stock, the value of these equity securities may fluctuate in response to many factors, including the activities of the issuer, general market and economic conditions, interest rates, and specific industry changes.&amp;nbsp;&amp;nbsp;Also, regardless of any one company's particular prospects, a declining stock market may produce a decline in prices for all equity securities, which could also result in losses for the Fund.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Large-Cap Securities Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;Stocks of large companies as a group can fall out of favor with the market, causing the Fund to underperform investments that have a greater focus on mid-cap or small-cap stocks. Larger, more established companies may be slow to respond to challenges and may grow more slowly than smaller companies.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Small-Cap and Mid-Cap Securities Risk.&lt;/font&gt;&amp;nbsp;&amp;nbsp;The Portfolio Funds may invest in securities of small-cap and mid-cap companies, which involves greater volatility than investing in larger and more established companies.&amp;nbsp;&amp;nbsp;Small-cap and mid-cap companies can be subject to more abrupt or erratic share price changes than larger, more established companies.&amp;nbsp;&amp;nbsp;Securities of these types of companies have limited market liquidity, and their prices may be more volatile.&amp;nbsp;&amp;nbsp;You should expect that the value of the Fund's shares will be more volatile than a fund that invests exclusively in large-capitalization companies.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Fixed Income Risk.&lt;/font&gt;&amp;nbsp;&amp;nbsp;While the Fund will not invest directly in fixed income securities, the Fund the Fund will be subject to the risks associated with such investments since the Portfolio Funds may invest in fixed income securities.&amp;nbsp;&amp;nbsp;The prices of these securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers.&amp;nbsp;&amp;nbsp;Fixed income securities tend to decrease in value if interest rates rise and vice versa, and the volatility of lower-rated securities is even greater than that of higher-rated securities.&amp;nbsp;&amp;nbsp;Also, longer-term securities are more volatile, so the average maturity or duration of these securities affects risk.&amp;nbsp;&amp;nbsp;Credit risk is the possibility that an issuer will fail to make timely payments of interest or principal or go bankrupt.&amp;nbsp;&amp;nbsp;The lower the rating of a debt security, the greater its risks.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Interest Rate Risk.&lt;/font&gt;&amp;nbsp;&amp;nbsp;Interest rates may rise resulting in a decrease in the value of the fixed income securities held by the Portfolio Funds or may fall resulting in an increase in the value of such securities.&amp;nbsp;&amp;nbsp;Fixed income securities with longer maturities involve greater risk than those with shorter maturities.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Inflation Risk.&lt;/font&gt;&amp;nbsp;&amp;nbsp;Fixed income securities held by Portfolio Funds are subject to inflation risk.&amp;nbsp;&amp;nbsp;Because inflation reduces the purchasing power of income produced by existing fixed income securities, the prices at which fixed income securities trade will be reduced to compensate for the fact that the income they produce is worth less.&amp;nbsp;&amp;nbsp;This potential decrease in market value of fixed income securities would result in a loss in the value of the Fund's portfolio.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;High-Yield Risk.&lt;/font&gt;&amp;nbsp;&amp;nbsp;Portfolio Funds may invest in junk bonds , including bonds of issuers in default , and other fixed income securities that are rated below investment grade.&amp;nbsp;&amp;nbsp;Securities in this rating category are speculative and are usually issued by companies without long track records of sales and earnings, or by those companies with questionable credit strength.&amp;nbsp;&amp;nbsp;Changes in economic conditions or other circumstances may have a greater effect on the ability of issuers of these securities to make principal and interest payments than they do on issuers of higher grade securities.&amp;nbsp;&amp;nbsp;The retail secondary market for junk bonds may be less liquid than that of higher-rated securities and adverse conditions could make it difficult at times to sell certain securities or could result in lower prices.&amp;nbsp;&amp;nbsp;Additionally, these instruments are unsecured and may be subordinated to other creditor's claims.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Commodities Risk.&lt;/font&gt;&lt;font class="_mt" style="font-weight: bold; font-style: italic; display: inline;"&gt;&amp;nbsp;&lt;/font&gt;The Portfolio Funds held by the Fund may have exposure to the commodities markets.&amp;nbsp;&amp;nbsp;The value of commodities related investments may be affected by changes in overall market movements, commodity index volatility, changes in interest rates, or factors affecting a particular industry or commodity.&amp;nbsp;&amp;nbsp;The prices of industrial metals, precious metals, agriculture, and livestock commodities may fluctuate widely due to changes in value, supply and demand, and governmental regulatory policies.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-family: Times New Roman; font-weight: bold; display: inline;"&gt;Real Estate Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;The Portfolio Funds held by the Fund may invest in securities of issuers engaged in or related to the real estate industry.&amp;nbsp;&amp;nbsp;Real estate related investments are subject to risks related to possible declines in the value of real estate; general and local economic conditions; possible lack of availability of mortgage funds; overbuilding; extended vacancies of properties; increases in competition, property taxes, and operating expenses; changes in zoning laws; costs resulting from the clean-up of, and liability to third parties for damages resulting from, environmental problems; casualty or condemnation losses; uninsured damages from floods, earthquakes, or other natural disasters; limitations on and variations in rents; and changes in interest rates.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Sector Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;If the Portfolio Funds invest more heavily in a particular sector, the value of its shares may be especially sensitive to factors and economic risks that specifically affect that sector.&amp;nbsp;&amp;nbsp;As a result, the Portfolio Fund's share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of industries.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Foreign Securities and Emerging Markets Risk.&lt;/font&gt;&amp;nbsp;&amp;nbsp;The Portfolio Funds may have significant investments in foreign securities, which have investment risks different from those associated with domestic securities.&amp;nbsp;&amp;nbsp;The value of foreign investments may be affected by the value of the local currency relative to the U.S. dollar, changes in exchange control regulations, application of foreign tax laws, changes in governmental economic or monetary policy, or changed circumstances in dealings between nations.&amp;nbsp;&amp;nbsp;There may be less government supervision of foreign markets, resulting in non-uniform accounting practices and less publicly available information about issuers of foreign securities.&amp;nbsp;&amp;nbsp;In addition, foreign brokerage commissions, custody fees, and other costs of investing in foreign securities are often higher than in the United States.&amp;nbsp;&amp;nbsp;Investments in foreign issues could be affected by other factors not present in the &lt;/font&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;United States, including expropriation, armed conflict, confiscatory taxation, and potential difficulties in enforcing contractual obligations.&amp;nbsp;&amp;nbsp;In addition to the risks of foreign securities in general, countries in emerging markets are more volatile and can have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues which could reduce liquidity.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Derivatives Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;The Fund and the Portfolio Funds held by the Fund may use derivative instruments, which derive their value from the value of an underlying security, currency, or index.&amp;nbsp;&amp;nbsp;Derivative instruments involve risks different from direct investments in the underlying assets, including: imperfect correlation between the value of the derivative instrument and the underlying assets; risks of default by the other party to the derivative instrument; risks that the transactions may result in losses of all or in excess of any gain in the portfolio positions; and risks that the transactions may not be liquid.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Short Sales Risk.&lt;/font&gt;&amp;nbsp;&amp;nbsp;While the Fund will not short individual securities, the Portfolio Funds held by the Fund may sell securities short.&amp;nbsp;&amp;nbsp;A short sale is a transaction in which the Portfolio Fund sells a security it does not own but has borrowed in anticipation that the market price of the security will decline.&amp;nbsp;&amp;nbsp;The Portfolio Fund must replace the borrowed security by purchasing it at the market price at the time of replacement, which may be more or less than the price at which the Portfolio Fund sold the security.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Leverage Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;While the Fund will not utilize leverage (i.e., borrowing) when making investments, the Portfolio Funds held by the Fund may utilize leverage to acquire their underlying portfolio investments.&amp;nbsp;&amp;nbsp;The use of leverage may exaggerate changes in a Portfolio Fund's share price and the return on its investments.&amp;nbsp;&amp;nbsp;Accordingly, the value of the Fund's investments in Portfolio Funds may be more volatile and all other risks, including the risk of loss of an investment, tend to be compounded or magnified.&amp;nbsp;&amp;nbsp;Borrowing also leads to additional interest expense and other fees that increase the Portfolio Fund's expenses.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Portfolio Turnover Risk.&lt;/font&gt;&amp;nbsp;&amp;nbsp;The Advisor will sell Portfolio Funds when it is in the interests of the Fund and its shareholders to do so without regard to the length of time they have been held.&amp;nbsp;&amp;nbsp;As portfolio turnover may involve paying brokerage commissions and other transaction costs, there could be additional expenses for the Fund.&amp;nbsp;&amp;nbsp;High rates of portfolio turnover may also result in the realization of short-term capital gains and losses.&amp;nbsp;&amp;nbsp;Any distributions resulting from such gains will be considered ordinary income for federal income tax purposes.&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Futures Risk.&lt;/font&gt; Use of futures contracts by the Fund or the Portfolio Funds may cause the value of the Fund's shares to be more volatile.&amp;nbsp;&amp;nbsp;Futures contracts expose the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not accurately track the underlying securities.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Swaps Risk.&lt;/font&gt; &amp;nbsp;&amp;nbsp;The Fund may enter into equity, interest rate, index, credit default, and currency rate swap agreements, or "swaps."&amp;nbsp;&amp;nbsp;Swaps can involve greater risks than direct investment in securities, because swaps may be leveraged, are subject to the risk of that the counterparty may default on the obligation, and may be difficult to value.&amp;nbsp;&amp;nbsp;Swaps may also be considered illiquid. &lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Risks from Purchasing Options.&lt;/font&gt;&amp;nbsp;&amp;nbsp;If a call or put option purchased by the Fund or a Portfolio Fund is not sold when it has remaining value and if the market price of the underlying security, in the case of a call, remains less than or equal to the exercise price, or, in the case of a put, remains equal to or greater than the exercise price, the entire investment in the option will be lost.&amp;nbsp;&amp;nbsp;There is no assurance that a liquid market will exist when the Fund or a Portfolio Fund seeks to close out an option position.&amp;nbsp;&amp;nbsp;Where a position in a purchased option is used as a hedge against price movements in a related position, the price of the option may move more or less than the price of the related position.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Risks from Writing Options.&amp;nbsp;&amp;nbsp;&lt;/font&gt;The Fund, as well as the Portfolio Funds in which it invests, may sell, or "write," option contracts.&amp;nbsp;&amp;nbsp;Writing option contracts can result in losses that exceed the initial investment and may lead to additional turnover and higher tax liability.&amp;nbsp;&amp;nbsp;The risk involved in writing a call option is that there could be an increase in the market value of the security.&amp;nbsp;&amp;nbsp;If this occurred, the option could be exercised and the underlying security would then be sold by the Fund or Portfolio Fund at a lower price than its current market value.&amp;nbsp;&amp;nbsp;Similarly, while writing call options can reduce the risk of owning stocks, such a strategy limits the opportunity of the Fund or Portfolio Fund to profit from an increase in the market value of stocks in exchange for up-front cash at the time of selling the call option.&amp;nbsp;&amp;nbsp;The risk involved in writing a put option is that there could be a decrease in the market value of the underlying security.&amp;nbsp;&amp;nbsp;If this occurred, the option could be exercised and the underlying security would then be sold to the Fund or Portfolio Fund at a higher price than its current market value.&amp;nbsp;&amp;nbsp;There is no assurance that a liquid market will exist when the Fund or Portfolio Fund seeks to close out an option position.&amp;nbsp;&amp;nbsp;Where a position in a written option is used as a hedge against price movements in a related position, the price of the option may move more or less than the price of the related position.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Investment Advisor Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;The Advisor's ability to choose suitable investments has a significant impact on the ability of the Fund to achieve its investment objectives.&amp;nbsp;&amp;nbsp;The portfolio managers' experience is discussed in the section of this prospectus entitled "Management of the Funds &amp;#8211; Investment Advisor."&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;New Fund Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;The Fund was formed in 2012.&amp;nbsp;&amp;nbsp;Accordingly, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy, may not employ a successful investment strategy, or may fail to attract sufficient assets under management to realize economies of scale, any of which could result in the Fund being liquidated at any time without shareholder approval and at a time that may not be favorable for all shareholders.&amp;nbsp;&amp;nbsp;Such a liquidation could have negative tax consequences for shareholders and will cause shareholders to incur expenses of liquidation.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&amp;nbsp;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Operating Risk.&lt;/font&gt;&amp;nbsp;&amp;nbsp;The Fund's administrator and Advisor have entered into an Operating Plan that facilitates the administrator's assumption of the Fund's regular operating expenses under the Fund Accounting and Administration Agreement.&amp;nbsp;&amp;nbsp;The Operating Plan obligates the Advisor to pay certain expenses of the Fund in order to help limit its annual operating expenses.&amp;nbsp;&amp;nbsp;If the Advisor, however, does not have sufficient revenue to support those expenses, the Advisor may be compelled to either resign or become insolvent.&amp;nbsp;&amp;nbsp;In addition, if the Fund incurs expenses in excess of those that the administrator has agreed to pay and the Advisor is not able or willing to pay the excess costs, those excess costs will increase the Fund's expenses.&lt;/font&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="justify"&gt;&lt;font size="2" class="_mt"&gt; &lt;/font&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Narrative Risk Disclosure. A Fund may, in responding to this Item, describe the types of investors for whom the Fund is intended or the types of investment goals that may be consistent with an investment in the Fund.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



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