Free Market U.S. Equity Fund (Prospectus Summary) | Free Market U.S. Equity Fund

FREE MARKET U.S. EQUITY FUND

Investment Objective

The Free Market U.S. Equity Fund seeks long-term capital appreciation.

Expenses and Fees

This table describes the fees and expenses that you may pay if you buy and hold

shares of the Fund.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses	Free Market U.S. Equity Fund Institutional Class
Management fees	0.50%
Distribution (12b-1) and/or Service Fees	none
Other expenses	0.14%
Acquired Fund Fees and Expenses	0.32%
Total Annual Fund Operating Expenses	0.96%

Example

This Example is intended to help you compare the cost of investing in the Fund

with the cost of investing in other mutual funds. The Example assumes that you

invest $10,000 in the Fund for the time periods indicated and that you sell your

shares at the end of those periods. The Example also assumes that your

investment has a 5% return each year and that the Fund's operating expenses

remain the same. Although your actual costs and returns might be higher or

lower, based on these assumptions your costs would be:

Expense Example (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
Free Market U.S. Equity Fund Institutional Class	98	306	531	1,178

Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it buys and sells

securities (or "turns over" its portfolio). 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. These costs, which are not reflected in

Total annual Fund operating expenses or in the Example, affect the Fund's

performance. During the most recent fiscal year, the Fund's portfolio turnover

rate was 9% of the average value of its portfolio.

Summary of Principal Investment Strategies

The Fund pursues its investment objective by investing under normal

circumstances at least 80% of its net assets, including any borrowings for

investment purposes, in shares of registered, open-end investment companies and

exchange-traded funds ("ETFs") (collectively, "investment companies") that have

either adopted policies to invest at least 80% of their assets in equity

securities, such as common stocks, preferred stocks or securities convertible

into stocks, of U.S. companies, or invest substantially all of their assets in

such equity securities. The Fund will diversify its investments by investing

primarily in investment companies focusing on different segments of the equity

markets, including large ("large-cap"), small ("small-cap") and

micro-capitalization ("micro-cap") equity securities that the Fund's investment

adviser ("Adviser") believes offer the prospect of long-term capital

appreciation.



Under normal market conditions, the Adviser expects substantially all of the

Fund's net assets to be invested in the securities of investment companies that

invest in the types of securities described in each asset class below, with less

than 2% of the net assets invested in cash or money market instruments. The

Adviser uses target ranges to allocate the Fund's assets among various investment

company asset classes. Actual allocations may differ from the target due to market

fluctuations and other factors. Generally, the Adviser expects that the Fund's

investments will be within plus or minus 5% of the following target ranges:



Asset Class                Target

U.S. Large Cap Value          30 %

U.S. Small Cap Value          25 %

U.S. Large Company            15 %

U.S. Small Cap                15 %

U.S. Micro Cap                15 %



U.S. Large Cap Value Asset Class: The underlying investment companies generally

will purchase common stocks and other equity securities of large cap companies

that the underlying investment adviser(s) determine to be value stocks at the

time of purchase. An issuer's securities are considered value stocks primarily

because they have a high book value in relation to their market value (a "book

to market ratio"). In assessing value, the underlying investment adviser(s) may

consider additional factors such as price to cash flow or price to earnings

ratios as well as economic conditions and developments in the issuer's industry.

The criteria used for assessing value are subject to change from time to time.

Large cap companies generally are those companies with a market capitalization

of $2.357 billion or greater.



U.S. Small Cap Value Asset Class: The underlying investment companies generally

will purchase common stocks and other equity securities of small cap companies

that the underlying investment adviser(s) determine to be value stocks at the

time of purchase. Small cap companies generally are those companies with a

market capitalization of $2.357 billion or less.



U.S. Large Company Asset Class: The underlying investment companies generally

will purchase all of the stocks that comprise the S&P 500® Index in

approximately the proportions they are represented in the S&P 500® Index.

Generally, these are the U.S. stocks with the largest market capitalizations

and, as a group, they represent approximately 75% of the total market

capitalization of all publicly traded U.S. stocks.



U.S. Small Cap Asset Class: The underlying investment companies generally will

purchase common stocks and other equity securities of small cap companies

primarily based on market capitalization. Small cap companies are generally

those with a market capitalization of $2.357 billion or less. There may be some

overlap in the companies in which the U.S. small cap asset class and the U.S.

micro cap asset class invest.



U.S. Micro Cap Asset Class: The underlying investment companies generally will

purchase common stocks and other equity securities of micro cap companies. Micro

cap companies are generally those companies with a market capitalization of

$1.126 billion or less. There may be some overlap in the companies in which the

U.S. micro cap asset class and the U.S. small cap asset class invest.



The Fund reserves the right to hold up to 100% of its assets as a temporary

defensive measure in cash and money market instruments such as U.S. Government

securities, bank obligations and commercial paper. To the extent the Fund

employs a temporary defensive measure, the Fund may not achieve its investment

objective.

Summary of Principal Risks

As with all mutual funds, a shareholder is subject to the risk that his or her

investment could lose money. An investment in the Fund involves the same

investment risks as those of the underlying investment companies in which the

Fund invests. These risks may adversely affect the Fund's net asset value

("NAV") and investment performance. The Fund is subject to the following

principal risks:



o Stocks of large cap, small cap or micro cap companies in which the Fund's

underlying investment companies invest or in which the Fund invests directly may

temporarily fall out of favor with investors or may be more volatile than the

rest of the U.S. market as a whole.



o The smaller the capitalization of a company, generally the less liquid its

stock and the more volatile its price. Companies with smaller market

capitalizations also tend to have unproven track records and are more likely to

fail than companies with larger market capitalizations.



o Although the Fund will invest in other investment companies that invest in

equity securities believed to be undervalued, there is no guarantee that the

prices of these securities will not move even lower.



o Companies in which the Fund's underlying investment companies invest may

suffer unexpected losses or lower than expected earnings or their securities may

become difficult or impossible to sell at the time and for the price that the

underlying investment adviser(s) would like.



o The Adviser's judgment about the attractiveness or potential appreciation of a

particular underlying investment company security could prove to be wrong or the

Fund could miss out on an investment opportunity because the assets necessary to

take advantage of such opportunity are tied up in less advantageous investments.



o Because under normal circumstances the Fund invests at least 80% of its net

assets in shares of registered investment companies that emphasize investments

in U.S. equity securities, the NAV of the Fund will change with changes in the

share prices of the investment companies in which the Fund invests.



o There is a risk that large capitalization stocks may not perform as well as

other asset classes or the U.S. stock market as a whole. In the past, large

capitalization stocks have gone through cycles of doing better or worse than the

stock market in general.



o There is a risk that the Fund, which is passively managed, may not perform as

well as funds with more active methods of investment management, such as

selecting securities based on economic, financial, and market analysis.



o The performance of the Fund will depend on how successfully the investment

adviser(s) to the underlying investment companies pursue their investment

strategies.



More information about the Fund's investments and risks is contained under the

section entitled "More About Each Fund's Investments and Risks."

Performance Information

The chart below illustrates the long-term performance of the Fund. The

information shows you how the Fund's performance has varied year by year and

provides some indication of the risks of investing in the Fund. The chart

assumes reinvestment of dividends and distributions. Total returns would have

been lower had certain fees and expenses not been waived or reimbursed. Past

performance (before and after taxes) does not necessarily indicate how the Fund

will perform in the future. Updated information is available at www.mymatrix.cc

or (866) 780-0357 Ext. 3863.

Best and Worst Quarterly Performance (for the period reflected in the chart

above)



Best Quarter: 22.80% (quarter ended June 30, 2009)



Worst Quarter: (26.63)% (quarter ended December 31, 2008)



Year to Date Total Return as of September 30, 2011: (16.15)%

Average Annual Total Returns

The table below compares the average annual total returns of the Fund before and

after taxes for the past calendar year and since inception to the average total

returns of a broad-based securities market index for the same periods.

Average Annual Total Returns for the Periods Ended December 31, 2010

Average Annual Total Returns Free Market U.S. Equity Fund	Average Annual Returns, Label		Average Annual Returns, 1 Year	Average Annual Returns, Since Inception
Institutional Class	Fund Returns Before Taxes		24.54%	4.10%	[1]
Institutional Class After Taxes on Distributions	Fund Returns After Taxes on Distributions	[2]	24.29%	3.82%	[1]
Institutional Class After Taxes on Distributions and Sales	Fund Returns After Taxes on Distributions and Sale of Fund Shares	[2]	15.95%	3.32%	[1]
Russell 2500® Index	Russell 2500® Index (reflects no deduction for fees, expenses or taxes)	[3]	26.71%	2.48%	[1]
Composite Index	Composite Index	[4]	20.71%	(0.63%)	[1]

[1] The Fund commenced operations on December 31, 2007.

[2] After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns will depend on an investor's tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax deferred arrangements, such as 401(k) plans or individual retirement accounts.

[3] The Russell 2500® Index measures the performance of 2500 of the smallest securities of the Russell 3000® Index. As of November 30, 2011, the median market capitalization of the companies in the Russell 2500® Index was $651 million and the largest stock was $9.74 billion.

[4] The Composite Index is comprised of the S&P 500® Index, Russell 1000® Value Index, Russell 2000® Index and Russell 2000® Value Index, each weighted 25%, 25%, 25% and 25%, respectively. Additional information about the Composite Index can be found under the section entitled "More About Each Fund's Investments and Risks."