HANCOCK HORIZON STRATEGIC INCOME BOND FUND (Prospectus Summary) | HANCOCK HORIZON STRATEGIC INCOME BOND FUND

STRATEGIC INCOME BOND FUND

INVESTMENT OBJECTIVE

The Strategic Income Bond Fund (the "Fund" or the "Strategic Income Fund")
seeks total return through current income and capital appreciation, consistent
with the preservation of capital.

FUND FEES AND EXPENSES

This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund. You may qualify for sales charge discounts if you and your
family invest, or agree to invest in the future, at least $50,000 in Class A
Shares of the Hancock Horizon Funds. More information about these and other
discounts is available from your financial professional and in the section
"Sales Charges" on page 55 of the prospectus.

SHAREHOLDER FEES (FEES PAID DIRECTLY FROM YOUR INVESTMENT)

Shareholder Fees HANCOCK HORIZON STRATEGIC INCOME BOND FUND (USD $)	TRUST CLASS SHARES	CLASS A SHARES		CLASS C SHARES
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	none	4.00%	[1]	none
Maximum Deferred Sales Charge (Load) (as a percentage of net asset value)	none	none		none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions (as a percentage of offering price)	none	none		none
Redemption Fee (as a percentage of amount redeemed, if applicable)	none	none		none
Exchange Fee	none	none		none

ANNUAL FUND OPERATING EXPENSES (EXPENSES THAT YOU PAY EACH YEAR AS A PERCENTAGE OF THE VALUE OF YOUR INVESTMENT)

Annual Fund Operating Expenses HANCOCK HORIZON STRATEGIC INCOME BOND FUND		TRUST CLASS SHARES	CLASS A SHARES	CLASS C SHARES
Management Fees		0.60%	0.60%	0.60%
Distribution (12b-1) Fees		none	none	0.75%
Shareholder Servicing Fees		none	0.25%	0.25%
Other Operating Expenses		0.26%	0.26%	0.26%
Total Other Expenses		0.26%	0.51%	0.51%
Acquired Fund Fees and Expenses		0.06%	0.06%	0.06%
Total Annual Fund Operating Expenses	[1]	0.92%	1.17%	1.92%
Less Fee Reductions and/or Expense Reimbursements		(0.11%)	(0.11%)	(0.11%)
Total Annual Fund Operating Expenses After Fee Reductions and/or Expense Reimbursements	[1][2]	0.81%	1.06%	1.81%

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 then redeem all of your shares at the end of those periods.  The
Example also assumes that your investment has a 5% return each year and that
the Fund's operating expenses (including one year of capped expenses in each
period) remain the same.

Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Expense Example HANCOCK HORIZON STRATEGIC INCOME BOND FUND (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
TRUST CLASS SHARES	83	282	499	1,121
CLASS A SHARES	504	746	1,008	1,754
CLASS C SHARES	184	592	1,027	2,234

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 its most recent fiscal year, the Fund's portfolio turnover
rate was 20% of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGY

Under normal circumstances, the Fund invests at least 80% of its net assets in:
(i) fixed income obligations issued by the U.S. Treasury and U.S. government
agencies; (ii) mortgage-backed securities; and (iii) investment grade U.S.
corporate debt. This investment policy can be changed by the Fund upon 60 days'
prior notice to shareholders. As an alternative to directly investing in
securities in these asset classes, the Fund may also invest in other investment
companies, including mutual funds, closed-end funds and exchange-traded funds
("ETFs") to gain exposure to fixed-income markets. The Fund's fixed income
investments are primarily of investment grade (rated in one of the four highest
rating categories by at least one rating agency), but may at times
include securities rated below investment grade (high yield or "junk" bonds).
In selecting investments for the Fund, Horizon Advisers (the "Adviser")
analyzes current market conditions and anticipated changes in bond prices to
attempt to invest more of the Fund's assets in the type of security the Adviser
expects to offer the best balance between income, the potential for
appreciation and stability of principal. The Adviser actively manages the
maturity of the Fund and, under normal circumstances, the Fund's
dollar-weighted average maturity will be between five and fifteen years. The
Adviser may vary this average maturity in anticipation of a change in the
interest rate environment.  There is no restriction on the maturity of a single
security. Securities will be considered for sale: in the event of or in
anticipation of a credit downgrade; in order to change the average weighted
maturity of the Fund; to reallocate the Fund's investments among the above
types of fixed income securities; or to realize an aberration in a security's
market valuation.

PRINCIPAL RISKS

As with all mutual funds, a shareholder is subject to the risk that his or her
investment could lose money. A FUND SHARE IS NOT A BANK DEPOSIT AND IT IS NOT
INSURED OR GUARANTEED BY THE FDIC OR ANY GOVERNMENT AGENCY. The principal risk
factors affecting shareholders' investments in the Fund are set forth below.

The prices of the Fund's fixed income securities respond to economic
developments, particularly interest rate changes, as well as to perceptions
about the creditworthiness of individual issuers, including governments.
Generally, the Fund's fixed income securities will 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. Also,
longer-term securities are generally more volatile, so the average maturity or
duration of these securities affects risk.

The mortgages underlying mortgage-backed securities may be paid off early,
which makes it difficult to determine their actual maturity and therefore
difficult to calculate how they will respond to changes in interest rates. The
Fund may have to re-invest prepaid amounts at lower interest rates. This risk
of prepayment is an additional risk of mortgage-backed securities.

Although the Fund's U.S. government securities are considered to be among the
safest investments, they are not guaranteed against price movements due to
changing interest rates. Obligations issued by some U.S. government agencies
are backed by the U.S. Treasury, while others are backed solely by the ability
of the agency to borrow from the U.S. Treasury or by the agency's own
resources.

High yield, or "junk," bonds are highly speculative securities that are usually
issued by smaller, less credit worthy and/or highly leveraged (indebted)
companies.  Compared with investment-grade bonds, high yield bonds carry a
greater degree of risk and are less likely to make payments of interest and
principal. Market developments and the financial and business conditions of the
corporation issuing these securities influences their price and liquidity more
than changes in interest rates, when compared to investment-grade debt
securities. Insufficient liquidity in the junk bond market may make it more
difficult to dispose of junk bonds and may cause the Fund to experience sudden
and substantial price declines. A lack of reliable, objective data or market
quotations may make it more difficult to value junk bonds accurately.

ETFs are pooled investment vehicles, such as registered investment companies
and grantor trusts, whose shares are listed and traded on U.S. stock exchanges
or otherwise traded in the over-the-counter market. To the extent the Fund
invests in other investment companies, such as ETFs,
closed-end funds and other mutual funds, the Fund will be subject to
substantially the same risks as those associated with the direct ownership of
the securities held by such other investment companies. As a shareholder of
another investment company, the Fund relies on that investment company to
achieve its investment objective. If the investment company fails to achieve
its objective, the value of the Fund's investment could decline, which could
adversely affect the Fund's performance. By investing in another investment
company, Fund shareholders indirectly bear the Fund's proportionate share of
the fees and expenses of the other investment company, in addition to the fees
and expenses that Fund shareholders directly bear in connection with the Fund's
own operations. The Fund does not intend to invest in other investment
companies unless the Adviser believes that the potential benefits of the
investment justify the payment of any additional fees or expenses. Federal
securities laws impose limitations on the Fund's ability to invest in other
investment companies.

Because closed-end funds and ETFs are listed on national stock exchanges and
are traded like stocks listed on an exchange, their shares potentially may
trade at a discount or premium. Investments in closed-end funds and ETFs are
also subject to brokerage and other trading costs, which could result in
greater expenses to the Fund. In addition, because the value of closed-end
funds and ETF shares depends on the demand in the market, the Adviser may not
be able to liquidate the Fund's holdings at the most optimal time, which could
adversely affect Fund performance.

The Fund is also subject to the risk that its investment approach, which
focuses on U.S. government and corporate fixed income securities, may perform
differently from other mutual funds which focus on different fixed income
market segments or other asset classes.

PERFORMANCE INFORMATION

The bar chart and the performance table below illustrate the risks and
volatility of an investment in the Trust Class Shares of the Fund by showing
changes in the Fund's Trust Class Shares' performance from year to year and by
showing how the Fund's Trust Class Shares' average annual total returns for 1,
5 and 10 years and since inception compare with those of a broad measure of
market performance. Of course, the Fund's past performance (before and after
taxes) does not necessarily indicate how the Fund will perform in the future.
Updated performance information is available on the Fund's website at
www.hancockhorizonfunds.com.

BEST QUARTER      WORST QUARTER
4.85%             (1.73)%
(12/31/08)        (06/30/04)

The performance information shown above is based on a calendar year. The Fund's
performance information from 1/1/11 to 3/31/11 was 0.77% .

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 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. After-tax returns are shown for
only the Trust Class Shares. After-tax returns for other classes will vary.

AVERAGE ANNUAL TOTAL RETURNS FOR PERIODS ENDED DECEMBER 31, 2010

Average Annual Total Returns HANCOCK HORIZON STRATEGIC INCOME BOND FUND	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 5 Years	Average Annual Returns, 10 Years	Average Annual Returns, Since Inception	Average Annual Returns, Inception Date
TRUST CLASS SHARES	Fund Returns Before Taxes Trust Class Shares	5.14%	5.49%	4.88%	5.29%	May 31, 2000
CLASS A SHARES	Fund Returns Before Taxes Class A Shares (reflects a Maximum Sales Charge of 4.00%)	0.68%	4.37%	4.19%	4.62%	May 31, 2000
CLASS C SHARES	Fund Returns Before Taxes Class C Shares	4.04%	4.48%	3.88%	4.30%	May 31, 2000
After Taxes on Distributions TRUST CLASS SHARES	Fund Returns After Taxes on Distributions Trust Class Shares	3.76%	3.96%	3.24%	3.61%	May 31, 2000
After Taxes on Distributions and Sales TRUST CLASS SHARES	Fund Returns After Taxes on Distributions and Sale of Fund Shares Trust Class Shares	3.37%	3.81%	3.20%	3.53%	May 31, 2000
Barclays Capital Intermediate U.S. Aggregate Index	Barclays Capital Intermediate U.S. Aggregate Index (reflects no deduction for fees, expenses, or taxes)	6.15%	5.81%	5.66%	6.20%	May 31, 2000
Lipper (R) Corporate A-Rated Debt Fund Objective	Lipper(R) Corporate A-Rated Debt Fund Objective	7.51%	4.78%	5.24%	5.60%	May 31, 2000

[1] Class A Shares purchased in amounts of $1,000,000 or more without a front-end sales charge may be subject to a contingent deferred sales charge if redeemed within 18 months of purchase.

[1] The Total Annual Fund Operating Expenses in this fee table, before and after fee reductions and/or expense reimbursements, include fees and expenses incurred indirectly by the Fund as a result of investment in shares of other investment companies (each, an "acquired fund") and do not correlate to the expense ratio in the Fund's Financial Highlights, which reflects only the direct operating expenses incurred by the Fund.

[2] Horizon Advisers (the "Adviser") has contractually agreed to reduce fees and reimburse expenses to the extent necessary to keep Total Annual Fund Operating Expenses after Fee Reductions and/or Expense Reimbursements (excluding interest, taxes, Acquired Fund Fees and Expenses, brokerage commissions and extraordinary expenses) from exceeding 0.75%, 1.00% and 1.75% of the Fund's average daily net assets of the Trust Class, Class A and Class C Shares, respectively, until May 31, 2012. If at any point it becomes unnecessary for the Adviser to reduce fees or make expense reimbursements, the Board may permit the Adviser to retain the difference between the Total Annual Fund Operating Expenses and 0.75% for Trust Class Shares, 1.00% for Class A Shares and 1.75% for Class C Shares, respectively, to recapture all or a portion of its prior fee reductions or expense reimbursements made during the preceding three-year period during which this agreement was in place. This Agreement may be terminated: (i) by the Board, for any reason at any time; or (ii) by the Adviser, upon ninety (90) days' prior written notice to the Trust, effective as of the close of business on May 31, 2012.