HANCOCK HORIZON LOUISIANA TAX-FREE INCOME FUND (Prospectus Summary) | HANCOCK HORIZON LOUISIANA TAX-FREE INCOME FUND

LOUISIANA TAX-FREE INCOME FUND

INVESTMENT OBJECTIVE

The Louisiana Tax-Free Income Fund (the "Fund") seeks current income exempt
from both federal income tax and Louisiana personal income tax.

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 LOUISIANA TAX-FREE INCOME FUND (USD $)	TRUST CLASS SHARES	CLASS A SHARES
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)	none	4.00%	[1]
Maximum Deferred Sales Charge (Load) (as a percentage of net asset value)	none	none
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions (as a percentage of offering price)	none	none
Redemption Fee (as a percentage of amount redeemed, if applicable)	none	none
Exchange Fee	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 LOUISIANA TAX-FREE INCOME FUND		TRUST CLASS SHARES	CLASS A SHARES
Management Fees		0.60%	0.60%
Shareholder Servicing Fees		none	0.25%
Other Operating Expenses		0.98%	0.98%
Total Other Expenses	[1]	0.98%	1.23%
Acquired Fund Fees and Expenses	[2]	0.02%	0.02%
Total Annual Fund Operating Expenses		1.60%	1.85%
Less Fee Reductions and/or Expense Reimbursements		(0.83%)	(0.83%)
Total Annual Fund Operating Expenses After Fee Reductions and/or Expense Reimbursements	[3]	0.77%	1.02%

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 LOUISIANA TAX-FREE INCOME FUND (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years
TRUST CLASS SHARES	79	424
CLASS A SHARES	500	881

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.

PRINCIPAL INVESTMENT STRATEGY

Under normal circumstances, the Fund invests at least 80% of its net assets
(plus any borrowings for investment purposes) in municipal bonds that pay
interest that is exempt from federal and Louisiana income tax. This investment
policy may not be changed without shareholder approval. While the Fund intends
to invest primarily in municipal bonds of Louisiana issuers, securities of
issuers located outside of Louisiana that are exempt from both federal and
Louisiana income tax are included for purposes of the 80% test. The Fund may
invest up to 35% of its total assets in municipal securities issued by U.S.
territories.

The types of municipal securities that the Fund may invest in include, without
limitation, state and local general obligation bonds (bonds whose payments are
typically backed by the taxing power of the municipal issuer) and revenue bonds
(bonds whose payments are backed by revenue from a particular source). The Fund
may also invest in other municipal securities including, without limitation,
industrial development bonds, bond anticipation notes, tax anticipation notes,
municipal lease obligations, certificates of participation and tax exempt
commercial paper. In addition, the Fund may invest in securities of investment
companies, including exchange-traded funds ("ETFs"), pending direct investment
in municipal securities. The Fund intends to invest in investment grade
municipal bonds (rated in one of the four highest rating categories by at least
one rating agency), but also may invest up to 15% of its net assets in
municipal bonds rated below investment grade (high yield or "junk" bonds).
Although the Fund intends to invest substantially all of its assets in tax-free
securities, the Fund may invest up to 20% of its net assets in securities that
pay interest subject to the federal alternative minimum tax and in securities
that pay taxable interest. The Fund is non-diversified, meaning that it may
invest a large percentage of its assets in a single issuer or a relatively
small number of issuers. The Fund, however, will satisfy the asset
diversification tests to be treated as a regulated investment company.

In selecting investments for the Fund, Horizon Advisers (the "Adviser") employs
a value-oriented strategy to identify higher yielding bonds that offer a
greater potential for above average returns. When making investment decisions,
the Adviser seeks to leverage its knowledge of Louisiana issues and issuers to
gain a competitive advantage in the selection of undervalued bonds. Although
the Adviser intends to invest Fund assets across a variety of municipal
securities, the Fund may have significant positions in certain types of
municipal obligations (such as general obligations, municipal leases, revenue
bonds and industrial development bonds) and in one or more economic sectors
(such as housing, hospitals, healthcare facilities or utilities). The Adviser
may sell a bond it deems to have deteriorating credit quality or limited upside
potential as compared to other investments.

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.

Because the Fund primarily purchases municipal bonds, the Fund is more
susceptible to adverse economic, political or regulatory changes that may
impact the ability of municipal issuers to repay principal and to make interest
payments on municipal securities. Changes in the financial condition or credit
rating of municipal issuers also may adversely affect the value of the Fund's
securities. Constitutional or legislative limits on borrowing by municipal
issuers may result in reduced supplies of municipal securities. Moreover,
certain municipal securities are backed only by a municipal issuer's ability to
levy and collect taxes.

The Fund's concentration of investments in securities of issuers located in
Louisiana subjects the Fund to economic conditions and government policies
within that state. As a result, the Fund will be more susceptible to factors
that adversely affect issuers of Louisiana obligations than a mutual fund that
does not have as great a concentration in Louisiana. As with Louisiana
municipal securities, events in any of the U.S. territories where the Fund is
invested may affect the Fund's investments and its performance.

The Fund may invest more than 25% of its assets in municipal securities that
finance similar types of projects, such as hospitals, higher education, housing
industrial development, transportation or pollution control. A change that
affects one project, such as proposed legislation on the financing of the
project, a shortage of the materials needed for the project or a declining need
for the project, would likely affect all similar projects, thereby increasing
market risk.

Income from municipal obligations could be declared taxable because of
unfavorable changes in tax laws, adverse interpretations by the Internal
Revenue Service or state tax authorities or non-compliant conduct of bond
issuers. A portion of the Fund's income may be taxable to shareholders subject
to the federal alternative minimum tax.

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. Interest rate
risk is generally for fixed income securities with longer maturities or
duration.

The credit rating or financial condition of an issuer may affect the value of a
debt security. Generally, the lower the quality rating of a security, the
greater the risk that the issuer will fail to pay interest fully and return
principal in a timely manner. If an issuer defaults or becomes unable to honor
its financial obligations, the security may lose some or all of its value. The
issuer of an investment-grade security is more likely to pay interest and repay
principal than an issuer of a lower rated bond. Adverse economic conditions or
changing circumstances, however, may weaken the capacity of the issuer to pay
interest and repay principal.

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 are
considered to carry a greater degree of risk and are considered to be less
likely to make payments of interest and principal. Market developments and the
financial conditions of the issuer of these securities generally influence
their price and liquidity more than changes in interest rates, when compared to
investment-grade debt securities. Insufficient liquidity in the non-investment
grade bond market may make it more difficult to dispose of non-investment grade
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 non-investment grade bonds accurately.

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.

Because the Fund is non-diversified, it may be more susceptible to a single
adverse economic or political occurrence affecting one or more of the issuers,
and may experience increased volatility due to its investments in those
securities.

PERFORMANCE INFORMATION

The Fund commenced operations on February 1, 2011, and therefore does not have
performance history for a full calendar year. Once the Fund has completed a
full calendar year of operations, a bar chart and table will be included that
will provide some indication of the risks of investing in the Fund by showing
the variability of the Fund's return based on net assets and comparing the
Fund's performance to a broad measure of market performance.

[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] Other Expenses are based on estimated amounts for the current fiscal year.

[2] Total Annual Fund Operating Expenses, both 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"). Acquired Fund Fees and Expenses are based on estimated amounts for the current fiscal year.

[3] 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% and 1.00% of the Fund's average daily net assets of the Trust Class and Class A 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 and 1.00% for Class A Shares 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.