The Trust was recently formed and has very little to no operating history, which may subject it to increased costs, and as such, there can be no guarantee that it will be able to achieve its investment objective.
The Fund invests in small companies that carry additional risks because their earning and revenues tend to be less predictable and their share prices more volatile than those of larger, more established companies.
The Fund may invest in shares of other mutual funds. As a result, your cost of investing in the Fund may be higher than the cost of investing directly in Underlying Fund shares.
The Fund is non-diversified under federal securities laws. As a result, each holding will have a greater impact on the Fund's total return, and the Fund's share value could fluctuate more than if more securities were held in the portfolios.
The use of leverage by the Fund or Underlying Funds, such as borrowing money to purchase securities, engaging in reverse repurchase agreements, lending portfolio securities and engaging in forward commitment transactions, will magnify the Fund's gains or losses.
The Fund may make short sales, which involves selling a security it does not own in anticipation that the security's price will decline.
Up to 5% of the Fund's net assets may be invested in various derivative instruments, such as options, futures and options on futures A small investment in derivatives could have a potentially large impact on the Fund's performance.
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