STW Short Duration Investment-Grade Bond Fund (Prospectus Summary) | STW Short Duration Investment-Grade Bond Fund

STW SHORT DURATION INVESTMENT-GRADE BOND FUND

FUND INVESTMENT OBJECTIVE

The STW Short Duration Investment-Grade Bond Fund (the "Fund") seeks to achieve
a total return that exceeds that of the Fund's benchmark, the Merrill Lynch 1-3
Year Treasury Bond Index.

FUND FEES AND EXPENSES

This table describes the fees and expenses that you may pay if you buy and hold
Institutional 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		STW Short Duration Investment-Grade Bond Fund Institutional Shares
Management Fees		0.33%
Other Expenses	[1]	0.59%
Total Annual Fund Operating Expenses		0.92%
Less Fee Reductions and/or Expense Reimbursements		(0.46%)
Total Annual Fund Operating Expenses After Fee Reductions and/or Expense Reimbursements	[2]	0.46%

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 capped expenses for the period
described in the fee table) remain the same.

Although your actual costs may 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
STW Short Duration Investment-Grade Bond Fund Institutional Shares	47	148

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

The Fund seeks to achieve its investment objective by investing in a
diversified portfolio of fixed income instruments of varying maturities. Under
normal circumstances, the Fund invests at least 80% of its net assets, plus the
amount of any borrowings for investment purposes, in U.S. dollar-denominated,
investment-grade fixed income instruments. This investment policy may be
changed by the Fund upon 60 days' prior notice to shareholders. "Fixed income
instruments" include bonds, debt securities and other similar instruments
issued by various U.S. and non-U.S. public- or private-sector entities. The
fixed income instruments in which the Fund may invest include, but are not
limited to, securities issued or guaranteed by the U.S. Government and its
agencies; government-sponsored enterprise securities; corporate bonds;
mortgage-backed securities (including "to be announced" transactions);
asset-backed securities; municipal securities; sovereign debt and debt
securities issued by supranational organizations. "Investment-grade" securities
are securities that are rated by at least one major rating agency in one of its
top four rating categories, or, if unrated, that are determined by STW Fixed
Income Management LLC (the "Adviser"), the Fund's investment adviser, to be of
similar quality, at the time of purchase. In the case of a split rated security
(that is, two or more rating agencies give a security different ratings), the
highest rating shall apply. The Fund may invest without limit in U.S. dollar
denominated foreign securities. The Fund may also invest a portion of its
assets in cash and cash equivalents.

While the Fund may invest in fixed income securities of any maturity or
duration, under normal market conditions, the Adviser seeks to maintain an
effective portfolio duration that is within +/- 1 year of the duration of the
Fund's benchmark, the Merrill Lynch 1-3 Year Treasury Bond Index. As of
December 31, 2010, the effective duration of the Merrill Lynch 1-3 Year
Treasury Bond Index was 1.8 years. The Fund's effective portfolio duration may
vary over time depending on market and economic conditions. Duration is a
measure of a bond price's sensitivity to a given change in interest rates.
Generally, the longer a bond's duration, the greater its price sensitivity to a
change in interest rates. In contrast to duration, maturity measures only the
time until final payment is due.

The Adviser's decision to purchase or sell a security or make investments in a
particular sector is based on relative value considerations. In analyzing the
relative attractiveness of a particular security or sector, the Adviser
assesses an issue's historical relationships to other bonds, technical factors
including supply and demand and fundamental risk and reward relationships. When
making decisions to purchase or sell a security, the Adviser also considers a
number of factors including investment guideline compliance, sector exposures,
interest rate duration, yield and the relationship between yields and maturity
dates. The importance of these and other factors the Adviser considers when
purchasing and selling securities for the Fund changes with changes in the
markets. Sector allocation and individual security decisions are made
independent of sector and security weightings in the benchmark. The Fund may
have substantially different sector and security weightings than the benchmark
and may hold securities not included in the benchmark.

The "total return" sought by the Fund consists of income earned on the Fund's
investments, plus capital appreciation, if any.

The Fund may engage in active and frequent trading of portfolio securities in
seeking to achieve its investment objective.

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.

INTEREST RATE RISK. As with most funds that invest in fixed income securities,
changes in interest rates are one of the most important factors that could
affect the value of your investment. Rising interest rates tend to cause the
prices of fixed income securities (especially those with longer maturities) and
the Fund's share price to fall.

The concept of duration is useful in assessing the sensitivity of a fixed
income fund to interest rate movements, which are usually the main source of
risk for most fixed-income funds. Duration measures price volatility by
estimating the change in price of a debt security for a 1% change in its yield.
For example, a duration of five years means the price of a debt security will
change about 5% for every 1% change in its yield. Thus, the higher duration,
the more volatile the security.

Fixed income securities generally have a stated maturity date when the issuer
must repay the principal amount of the bond. Other fixed income securities
known as perpetual bonds have no stated maturity date. An issuer of perpetual
bonds is responsible for coupon payments in perpetuity but does not have to
redeem the securities. Perpetual bonds are often callable after a set period of
time, typically between 5 and 10 years. Some fixed income debt securities,
known as callable bonds, may repay the principal earlier than the stated
maturity date. Fixed income debt securities are most likely to be called when
interest rates are falling because the issuer can refinance at a lower rate.

Mutual funds that invest in fixed income debt securities have no real maturity.
Instead, they calculate their weighted average maturity. This number is an
average of the effective or anticipated maturity of each fixed income debt
security held by the mutual fund, with the maturity of each security weighted
by the percentage of its assets of the mutual fund it represents.

CREDIT RISK. The credit rating or financial condition of an issuer may affect
the value of a fixed income debt security. Generally, the lower the quality
rating of a security, the greater the perceived 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
considered by the ratings agency to be 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.

RATING AGENCIES RISK. Ratings are not an absolute standard of quality, but
rather general indicators that reflect only the view of the originating rating
agencies from which an explanation of the significance of such ratings may be
obtained. There is no assurance that a particular rating will continue for any
given period of time or that any such rating will not be revised downward or
withdrawn entirely if, in the judgment of the agency establishing the rating,
circumstances so warrant. A downward revision or withdrawal of such ratings, or
either of them, may have an effect on the liquidity or market price of the
securities in which the Fund invests.

INFLATION/DEFLATION RISK. The value of assets or income from investments may be
worth less in the future as inflation decreases the present value of future
payments. Conversely, prices throughout the economy may decline over time due
to deflation. Deflation may have an adverse effect on the creditworthiness of
issuers and may make issuer default more likely, which may result in a decline
in the value of the Fund's portfolio.

MORTGAGE-BACKED AND ASSET-BACKED SECURITIES RISK. The Fund may invest in both
residential and commercial mortgage-backed securities. A mortgage-backed
security represents an interest in a pool of assets such as mortgage loans and
matures when all the mortgages in the pool mature or are prepaid. While
mortgage-backed securities do have fixed maturities, their expected durations
may vary when interest rates rise or fall. Because the timing and speed of
principal payments may vary, the cash flow on mortgage-backed securities is
irregular. Rising interest rates tend to extend the duration of mortgage-backed
securities, making them more sensitive to changes in interest rates. As a
result, in a period of rising interest rates, a fund that holds mortgage-backed
securities may exhibit additional volatility. This is known as extension risk.
In addition, mortgage-backed securities are subject to prepayment risk. When
interest rates decline, borrowers may pay off their mortgages sooner than
expected. This can reduce the returns of the Fund because the Fund will have to
reinvest that money at the lower prevailing interest rates. While residential
mortgagors in the United States have the options to pay more principal than
required at each payment interval, commercial mortgages are often set for a
fixed term and therefore experience a lower degree of prepayment risk.

The Fund may invest in privately issued mortgage-backed securities that are not
issued, guaranteed, or backed by the U.S. Government or its agencies or
instrumentalities and may bear a greater risk of nonpayment than securities
that are backed by the U.S. Treasury. There can be no assurance, however, that
such credit enhancements will support full payment of the principal and
interest on such obligations. In addition, changes in the credit quality of the
entity that provides credit enhancement could cause losses to the Fund and
affect its share price.

An asset-backed security is a security backed by non-mortgage assets such as
company receivables, truck and auto loans, leases and credit card receivables.
Asset-backed securities are subject to risks similar to those associated with
mortgage-backed securities, as well as additional risks associated with the
nature of the assets and the servicing of those assets. Some asset-backed
securities present credit risks that are not presented by mortgage-backed
securities. This is because some asset-backed securities generally do not have
the benefit of a security interest in collateral that is comparable in quality
to mortgage assets. Other asset-backed securities do not have the benefit of a
security interest in collateral at all. If the issuer of an asset-backed
security defaults on its payment obligations, there is the possibility that, in
some cases, the Fund will be unable to possess and sell the underlying
collateral and that the Fund's recoveries on repossessed collateral may not be
available to support payments on the security. In the event of a default, the
Fund may suffer a loss if it cannot sell collateral quickly and receive the
amount it is owed. The cost of the collateral may also be insufficient to cover
the principal amount.

During periods of declining asset value, difficult or frozen credit markets,
interest rate changes, or deteriorating economic conditions, mortgage-backed
and asset-backed securities may decline in value, face valuation difficulties,
become more volatile and/or become illiquid. Additionally, the value of these
securities may fluctuate in response to market's perception of credit
worthiness of the issuers. The risk that an issuer will fail to make timely
payments of interest or principal, or will default on payments, is generally
higher in the case of mortgage-backed securities that include so-called
'sub-prime' mortgages.


"TO BE ANNOUNCED" TRANSACTIONS RISK. The Fund may purchase securities in "to be
announced" ("TBA") transactions. TBA transactions are standardized contracts
for future delivery in which the exact mortgage pools to be delivered are not
specified until a few days prior to settlement. A TBA transaction is a method
of trading mortgage-backed securities. In a TBA transaction, the buyer and
seller agree upon general trade parameters such as agency, settlement date, par
amount and price. Default by or bankruptcy of a counterparty to a TBA
transaction would expose the Fund to possible losses because of an adverse
market action, expenses or delays in connection with the purchase or sale of
the pools of mortgage pass-through securities specified in the TBA
transaction.

U.S. GOVERNMENT SECURITIES RISK. 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. Some obligations issued
or guaranteed by U.S. Government agencies and instrumentalities, including, for
example, Ginnie Mae pass-through certificates, are supported by the full faith
and credit of the U.S. Treasury. Other obligations issued by or guaranteed by
federal agencies, such as those securities issued by Fannie Mae, are supported
by the discretionary authority of the U.S. government to purchase certain
obligations of the federal agency, while other obligations issued by or
guaranteed by federal agencies, such as those of the Federal Home Loan Banks,
are supported by the right of the issuer to borrow from the U.S. Treasury.
While the U.S. Government provides financial support to such U.S.
Government-sponsored federal agencies, no assurance can be given that the U.S.
Government will always do so, since the U.S. Government is not so obligated by
law. Other obligations are backed solely by the government sponsored agency's
own resources. As a result, investments in securities issued by the government
sponsored agencies that are not backed by the U.S. Treasury are subject to
higher credit risk than those that are.

LIQUIDITY RISK. Liquidity risk exists when particular investments are difficult
to purchase or sell, possibly preventing the Fund from selling these illiquid
securities at an advantageous price or at the time desired. A lack of liquidity
also may cause the value of investments to decline. Illiquid investments also
may be difficult to value.

MUNICIPAL SECURITIES RISK. There may be economic, political or regulatory
changes that 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 municipal 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.

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.

FOREIGN SECURITIES RISK. Investing in securities of foreign issuers and
governments poses additional risks since political and economic events unique
to a country or region will affect foreign securities markets and their
issuers. Political events (civil unrest, national elections, changes in
political conditions and foreign relations, imposition of exchange controls and
repatriation restrictions), social and economic events (labor strikes, rising
inflation) and natural disasters occurring in a country where the Fund invests
could cause the Fund's investments in that country to experience gains or
losses. These risks will not necessarily affect the U.S. economy or similar
issuers located in the United States.

Sovereign debt instruments are subject to the risk that a governmental entity
may delay or refuse to pay interest or repay principal on its sovereign debt,
due, for example, to cash flow problems, insufficient foreign currency
reserves, political considerations, the relative size of the governmental
entity's debt position in relation to the economy or the failure to put in
place economic reforms required by the International Monetary Fund or other
multilateral agencies.

PORTFOLIO TURNOVER RISK. The Fund may buy and sell investments frequently. Such
a strategy often involves higher expenses, including brokerage commissions, and
may increase the amount of capital gains (in particular, short term gains)
realized by the Fund. Shareholders may pay tax on such capital gains.

PERFORMANCE INFORMATION

The Fund is new, and therefore has no performance history. 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 returns based on net assets and
comparing the Fund's performance to a broad measure of market performance.

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

[2] STW Fixed Income Management LLC (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 for Institutional Shares (excluding interest, taxes, brokerage commissions, Acquired Fund Fees and Expenses, and extraordinary expenses) (collectively "excluded expenses") from exceeding 0.46% of the Fund's Institutional Shares' average daily net assets until November 29, 2014. In addition, if at any point it becomes unnecessary for the Adviser to reduce fees and make expense reimbursements, the Adviser may retain the difference between the Total Annual Fund Operating Expenses (less excluded expenses) and 0.46% to recapture all or a portion of its prior fee reductions and 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 the business on November 29, 2014.