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&lt;div style="margin-left: 0pt; display: block; line-height: 20.5pt; margin-right: 0pt; text-indent: 0pt;" align="center"&gt;&lt;font class="_mt" style="font-size: 18pt; font-family: Times New Roman; font-weight: bold; display: inline;"&gt;Arin Large Cap Theta Fund&lt;/font&gt;&lt;/div&gt;



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&lt;div style="margin-left: 0pt; display: block; line-height: 11.4pt; margin-right: 0pt; text-indent: 0pt;" align="center"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;Wirehouse Class Shares (AVOWX)&lt;/font&gt;&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>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Risk/Return Summary Investment Objectives/Goals Include the following information, in plain English under rule 421(d) under the Securities Act, in the order and subject matter indicated</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



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</LabelSeparator><Level>4</Level><ElementName>rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice</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>verboseLabel</PreferredLabelRole><FootnoteIndexer /><Cells /><ElementDataType>rr:NonNegativePure4Type</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>Maximum Deferred Sales Charge (Load) (as a percentage of ____)  A.3.instructions.2.a.i "Maximum Deferred Sales Charge (Load)" includes the maximum total deferred sales charge (load) payable upon redemption, in installments, or both, expressed as a percentage of the amount or amounts stated in response to Item 7(a), except that, for a sales charge (load) based on net asset value at the time of purchase, show the sales charge (load) as a percentage of the offering price at the time of purchase. A Fund may include in a footnote to the table, if applicable, a tabular presentation showing the amount of deferred sales charges (loads) over time or a narrative explanation of the sales charges (loads) (e.g., __% in the first year after purchase, declining to __% in the __ year and eliminated thereafter).  A.3.instructions.2.a.ii If more than one type of sales charge (load) is imposed (e.g., a deferred sales charge (load) and a front-end sales charge (load)), the first caption in the table should read "Maximum Sales Charge (Load)" and show the maximum cumulative percentage. Show the percentage amounts and the terms of each sales charge (load) comprising that figure on separate lines below.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



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</LabelSeparator><Level>4</Level><ElementName>rr_RedemptionFee</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 /><ElementDataType>rr:NonPositiveMonetaryType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>"Redemption Fee" (as a percentage of amount redeemed, if applicable) If the Fund is an Exchange-Traded Fund and issues or redeems shares in creation units of not less than 25,000 shares each, exclude any fees charged for the purchase and redemption of the Fund's creation units.   "Redemption Fee" includes a fee charged for any redemption of the Fund's shares, but does not include a deferred sales charge (load) imposed upon redemption.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



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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>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 0.28% (with the exception of management fees, distribution and/or service (12b-1) fees, expenses on short sales, acquired fund fees and expenses, and extraordinary expenses), even if such operating expenses exceed the inclusive fee.  The agreement runs through June 30, 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 June 30, 2014, under which it has agreed to make payments to the administrator when the Fund is at lower asset levels and to assume certain expenses of the Fund outlined in the Operating Plan.  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.  The Advisor cannot recoup from the Fund any amounts paid under the Operating Plan.</Note></Footnote><Footnote><NoteId>3</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.</Note></Footnote></Footnotes><IsEquityReport>false</IsEquityReport><ReportName>Annual Fund Operating Expenses -

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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;This example shows you the expenses you may pay over time by investing in the Fund. Since all mutual funds use the same hypothetical conditions, this example should help you compare the costs of investing in the Fund versus other mutual funds. The example assumes the following conditions:&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&gt;



&lt;table style="font-size: 10pt; font-family: times new roman;" cellspacing="0" cellpadding="0" width="100%"&gt;

&lt;tr valign="top"&gt;&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; width: 36pt; border-left-color: ;" align="right"&gt;



&lt;div&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Symbol, serif; display: inline;"&gt;&amp;#183;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;

&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; border-left-color: ;"&gt;



&lt;div style="margin-left: 0pt; 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;You invest $10,000 in the Fund for the periods shown;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;



&lt;div&gt;



&lt;table style="font-size: 10pt; font-family: times new roman;" cellspacing="0" cellpadding="0" width="100%"&gt;

&lt;tr valign="top"&gt;&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; width: 36pt; border-left-color: ;" align="right"&gt;



&lt;div&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Symbol, serif; display: inline;"&gt;&amp;#183;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;

&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; border-left-color: ;"&gt;



&lt;div style="margin-left: 0pt; 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;You reinvest all dividends and distributions;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;



&lt;div&gt;



&lt;table style="font-size: 10pt; font-family: times new roman;" cellspacing="0" cellpadding="0" width="100%"&gt;

&lt;tr valign="top"&gt;&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; width: 36pt; border-left-color: ;" align="right"&gt;



&lt;div&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Symbol, serif; display: inline;"&gt;&amp;#183;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;

&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; border-left-color: ;"&gt;



&lt;div style="margin-left: 0pt; 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;You redeem all of your shares at the end of those periods;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;



&lt;div&gt;



&lt;table style="font-size: 10pt; font-family: times new roman;" cellspacing="0" cellpadding="0" width="100%"&gt;

&lt;tr valign="top"&gt;&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; width: 36pt; border-left-color: ;" align="right"&gt;



&lt;div&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Symbol, serif; display: inline;"&gt;&amp;#183;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;

&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; border-left-color: ;"&gt;



&lt;div style="margin-left: 0pt; 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;You earn a 5% return each year; and&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;



&lt;div&gt;



&lt;table style="font-size: 10pt; font-family: times new roman;" cellspacing="0" cellpadding="0" width="100%"&gt;

&lt;tr valign="top"&gt;&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; width: 36pt; border-left-color: ;" align="right"&gt;



&lt;div&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Symbol, serif; display: inline;"&gt;&amp;#183;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;

&lt;td style="border-top-color: ; border-bottom-color: ; border-right-color: ; border-left-color: ;"&gt;



&lt;div style="margin-left: 0pt; 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's operating expenses remain the same.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;



&lt;div style="margin-left: 0pt; display: block; 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="left"&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;Although your actual costs may be higher or lower, the following table shows you what your costs may be under the conditions listed above.&lt;/font&gt;&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>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



 -Publisher SEC



 -Name Form



 -Number N-1A



 -Chapter A



 -Section 3



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</LabelSeparator><Level>4</Level><ElementName>rr_ExpenseExampleYear03</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>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells /><ElementDataType>rr:NonNegativeMonetaryType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then you redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return per year and that the Fund's operating expenses remained the same. Although your actual costs may be higher or lower.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



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</LabelSeparator><Level>0</Level><ElementName /><ElementPrefix /><IsBaseElement>true</IsBaseElement><BalanceType /><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_19_2012_To_7_19_2012_dei_DocumentInformationDocumentAxis_cik0001464413_WirehouseClassMember_dei_LegalEntityAxis_cik0001464413_S000037782Member_rr_ProspectusShareClassAxis_cik0001464413_C000116542Member" UnitID="Unit12"><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>true</DisplayZeroAsNone><NumericAmount>180</NumericAmount><RoundedNumericAmount>180</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell><Cell FlagID="0" ContextID="Duration_7_19_2012_To_7_19_2012_dei_DocumentInformationDocumentAxis_cik0001464413_WirehouseClassMember_dei_LegalEntityAxis_cik0001464413_S000037782Member_rr_ProspectusShareClassAxis_cik0001464413_C000116542Member" UnitID="Unit12"><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>true</DisplayZeroAsNone><NumericAmount>641</NumericAmount><RoundedNumericAmount>641</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>na</ElementDataType><SimpleDataType>na</SimpleDataType><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Wirehouse Class

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</LabelSeparator><Level>4</Level><ElementName>rr_PortfolioTurnoverHeading</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_19_2012_To_7_19_2012_dei_DocumentInformationDocumentAxis_cik0001464413_WirehouseClassMember_dei_LegalEntityAxis_cik0001464413_S000037782Member" 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; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;Portfolio Turnover. &lt;/font&gt;&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>Disclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



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</LabelSeparator><Level>4</Level><ElementName>rr_PortfolioTurnoverTextBlock</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_19_2012_To_7_19_2012_dei_DocumentInformationDocumentAxis_cik0001464413_WirehouseClassMember_dei_LegalEntityAxis_cik0001464413_S000037782Member" 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;The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio).&amp;nbsp;&amp;nbsp;A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account.&amp;nbsp;&amp;nbsp;These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund's performance.&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>Disclose the portfolio turnover rate provided in response to Item 14(a) for the most recent fiscal year (or for such shorter period as the Fund has been in operation). Disclose the period for which the information is provided if less than a full fiscal year. A Fund that is a Money Market Fund may omit the portfolio turnover information required by this Item.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef



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 -Number N-1A



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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_19_2012_To_7_19_2012_dei_DocumentInformationDocumentAxis_cik0001464413_WirehouseClassMember_dei_LegalEntityAxis_cik0001464413_S000037782Member" 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



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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's investment advisor, Arin Risk Advisors, LLC (the "Advisor"), seeks to achieve the Fund's investment objective by investing in a portfolio of common stocks, &lt;font class="_mt" style="color: #010206; display: inline;"&gt;exchange-traded funds ("ETFs"), and futures contracts, &lt;/font&gt;while also engaging in option trades that the Advisor believes will be profitable due to perceived pricing discrepancies in the options market.&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;As a matter of investment policy, the Fund will invest, under normal circumstances, at least 80% of net assets, plus borrowings for investment purposes, in a portfolio of securities whose value is based on companies with market capitalizations that qualify them as "large-cap" companies.&amp;nbsp;&amp;nbsp;This policy may be changed without shareholder approval upon 60-days' prior notice to shareholders.&amp;nbsp;&amp;nbsp;The Advisor considers a company to be a "large cap" company if its &lt;/font&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;market capitalization falls within the range of market capitalizations of companies included in the Standard &amp;amp; Poor's 500 Index.&amp;nbsp;&amp;nbsp;&lt;font class="_mt" style="color: #010206; display: inline;"&gt;While t&lt;/font&gt;he Fund typically invests in common stocks, &lt;font class="_mt" style="color: #010206; display: inline;"&gt;ETFs, futures contracts, and options&lt;/font&gt;, it has the ability to invest in other types of equity securities, such as preferred stocks and warrants, that satisfy the Fund's investment criteria.&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;A portion of the Fund's assets will be invested in securities that track the performance of the U.S. large-cap equity market.&amp;nbsp;&amp;nbsp;These securities include ETFs and futures contracts based on broad-based market indexes like the Standard &amp;amp; Poor's 500 Index.&amp;nbsp;&amp;nbsp;These securities may also include a group of common stocks that the Advisor believes will track the performance of the large-cap equity market.&amp;nbsp;&amp;nbsp;At times, a relatively high percentage of this portion of the portfolio may be invested in a single ETF or a limited number of ETFs that track broad-based market indexes.&amp;nbsp;&amp;nbsp;Securities will be selected based upon their ability to provide exposure to the large-cap equity market. The percentage of the Fund invested in these securities will change from time to time as the Advisor deems appropriate based on its analysis and allocation models.&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;Based on its exposure to the large-cap equity market, the Fund will trade options to try to take advantage of perceived pricing discrepancies in the options market.&amp;nbsp;&amp;nbsp;The Advisor identifies these trading opportunities by analyzing volatility.&amp;nbsp;&amp;nbsp;The market price of an option is partially based on the expected volatility, or potential variation in price over time, of its underlying asset.&amp;nbsp;&amp;nbsp;The Advisor evaluates differences between the volatility implied by the market price of a call option and the future volatility of its underlying security as forecast by the Advisor.&amp;nbsp;&amp;nbsp;By analyzing the implied and forecasted volatilities of a security, and comparing them to the implied and forecasted volatilities of the large-cap equity market, the Advisor attempts to identify situations where a call option is relatively overvalued.&amp;nbsp;&amp;nbsp;The Advisor then establishes a short position by selling the call option or establishes a position that is intended to achieve a similar result through a combination of long and short positions on call and put 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; margin-right: 0pt; text-indent: 0pt;"&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;In selecting the options that the Fund will trade, the Advisor first identifies exchange-traded options with a trading volume sufficient to preclude the Fund's trades from influencing prices.&amp;nbsp;&amp;nbsp;The Advisor then evaluates the available investment opportunities with a proprietary trading algorithm that assists the Advisor in determining when to buy and sell options.&amp;nbsp;&amp;nbsp;The algorithm provides a scoring system based upon technical indicators and price patterns, observed market statistics, fundamental research, factor risk modeling, and economic indicators.&amp;nbsp;&amp;nbsp;The Advisor also allocates a portion of the Fund's assets to cash or cash equivalents, including money-market instruments and money-market mutual funds.&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's investments in options, futures, or similar instruments will comply with the applicable requirements of the Investment Company Act of 1940, including, but not limited to, Section 18 thereof and relevant interpretive positions of the staff of the Securities and Exchange Commission regarding the use of such instruments.&lt;/font&gt;&lt;/div&gt;&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



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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_19_2012_To_7_19_2012_dei_DocumentInformationDocumentAxis_cik0001464413_WirehouseClassMember_dei_LegalEntityAxis_cik0001464413_S000037782Member" 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



 -Section 4



 -Subsection b



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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;&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;Generally, 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;Common Stocks.&amp;nbsp;&amp;nbsp;&lt;/font&gt;The Fund's investments in common stocks, both directly and indirectly through the Fund's investment in shares of other investment companies, may fluctuate in value response to many factors, including, but not limited to, the activities of the individual companies whose securities the 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; display: inline;"&gt;&lt;font class="_mt" style="font-weight: bold; display: inline;"&gt;ETF Risks. &lt;/font&gt;The Fund's investments in ETFs &lt;font class="_mt" style="display: inline;"&gt;will be subject to substantially the same risks as those associated with the direct ownership of the securities comprising the portfolio of such ETFs and the value of the Fund's investment will fluctuate in response to the performance of such portfolio.&amp;nbsp;&amp;nbsp;The Fund's performance depends in part upon the performance of the managers and selected strategies of the ETFs, the instruments used by ETFs, and the Advisor's ability to select ETFs and effectively allocate Fund assets among them.&amp;nbsp;&amp;nbsp;&lt;/font&gt;Shareholders in the Fund will indirectly bear fees and expenses charged by the ETFs in which the Fund invests in addition to the Fund's direct fees and expenses.&lt;font class="_mt" style="display: inline;"&gt;&amp;nbsp;&amp;nbsp;As a result, the cost of investing in the Fund will be higher than the cost of investing directly in such ETFS and also may be higher than other funds that invest directly in securities.&amp;nbsp;&amp;nbsp;&lt;/font&gt;These types of investments by the Fund could affect the timing, amount, and character of distributions and therefore may increase the amount of taxes payable by shareholders.&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; The Fund's use of stock index futures contracts 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.&amp;nbsp;&amp;nbsp;Changes in the value of futures contracts may not track or correlate perfectly with the underlying index because of temporary, or even long-term, supply and demand imbalances and because futures do not pay dividends unlike the stocks upon which they are based.&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;General Market Risk.&lt;/font&gt; The Fund's net asset value and investment return will fluctuate based upon changes in the value of its portfolio securities. Certain securities held by the Fund may be worth less than the price originally paid for them, or less than they were worth at an earlier time.&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 Advisor was formed in 2009 and is registered as an investment adviser with the Securities and Exchange Commission.&amp;nbsp;&amp;nbsp;However, the Advisor does not have previous experience managing an investment company registered under the Investment Company Act of 1940.&amp;nbsp;&amp;nbsp;Accordingly, &lt;/font&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;investors in the Fund bear the risk that the Advisor's inexperience managing a registered investment company may limit its effectiveness.&amp;nbsp;&amp;nbsp;The experience of the portfolio managers is discussed in "Management of the Fund &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;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;New Fund Risk.&amp;nbsp;&amp;nbsp;&lt;/font&gt;The Fund began operating in 2013.&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 Advisor and the Fund's administrator 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 Fund's 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;&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 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 Fund will lose its entire investment in the option.&amp;nbsp;&amp;nbsp;Since many factors influence the value of an option, including the price of the underlying security, the exercise price, the time to expiration, the interest rate, and the dividend rate of the underlying security, the Advisor's success in implementing the Fund's strategy may depend on an ability to predict movements in the prices of individual securities, fluctuations in markets, and movements in interest rates.&amp;nbsp;&amp;nbsp;There is no assurance that a liquid market will exist when the 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;Writing option contracts can result in losses that exceed the Fund's 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 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 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 &lt;/font&gt;&lt;font class="_mt" style="font-size: 10pt; font-family: Times New Roman; display: inline;"&gt;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 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 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;Trading Strategies based on Volatility.&lt;/font&gt;&amp;nbsp;&amp;nbsp;Trading strategies based on volatility are difficult to implement and require successful monitoring, modeling, and interpretation of market conditions.&amp;nbsp;&amp;nbsp;Factors other than volatility influence the value of an option and complicate the trading strategy, including the price of the underlying security, the exercise price, the time to expiration, the interest rate, and the dividend rate of the underlying security.&amp;nbsp;&amp;nbsp;Trading opportunities may be short-lived or limited as a result of a low trading volume in exchange-traded options, in which cases the Fund may be required to hold elevated cash balances.&amp;nbsp;&amp;nbsp;Transaction costs have a significant impact on the profitability of these trading strategies.&lt;/font&gt;&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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 -Number N-1A



 -Chapter A



 -Section 4



 -Subsection b



 -Paragraph 1



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