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U.S. High Yield Corporate Bond Fund

The Muzinich U.S. High Yield Corporate Bond Fund (the “Fund”) typically invests at least 80% of its net assets in below investment grade debt of U.S. corporations. The Fund's portfolio is typically well-diversified with below investment grade bonds issued by U.S. corporations that the Advisor believes have attractive risk/reward characteristics. The Fund typically focuses on bonds rated BB+ to B- by Standard & Poor's or Ba1 to B3 by Moody's, or which are deemed equivalent by the Advisor. The Fund may invest up to 20% of its net assets in foreign securities, of which 10% may include securities in emerging market countries. The Fund may also invest up to 20% of its net assets in floating rate loans.

Although the Advisor will consider ratings assigned by ratings agencies in selecting high yield bonds, it relies principally on its own research and investment analysis. The Advisor selects bonds based on a rigorous bottom-up evaluation of each company in the portfolio. The Advisor considers both company-specific quantitative and qualitative factors such as: a company's managerial strength and commitment to debt repayment, anticipated cash flow, debt maturity schedules, borrowing requirements, use of borrowing proceeds, asset coverage, earnings prospects, impacting legislation, regulation, or litigation, and the strength and depth of the protections afforded the lender through the documentation governing the bond issuance. The Fund may sell a holding when it meets the portfolio manager's expectations, no longer offers compelling relative value, shows deteriorating fundamentals, or if it falls short of the portfolio manager's expectations.

 

Cash Flow is the net amount of cash and cash equivalents moving into and out of a business.

The Funds are offered to United States residents, and information on this site is intended only for such persons. Nothing on this website should be considered a solicitation to buy or an offer to sell shares of any Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

Please refer to the Credit Opportunities Fund prospectus, the U.S. High Yield Corp Bond Fund prospectus and Low Duration Fund prospectus for important information about the investment company including objectives, risks, charges, and expenses. Read each of the Fund documents carefully before investing. You may also obtain a hard copy of the prospectus by calling 1-855-689-4642.

Mutual fund investing involves risk. Principal loss is possible. Investments in the fund include risks associated with debt securities, lower-rated and non-rated securities, foreign securities including emerging markets, derivatives, floating rate loans, turnover risk, leverage, securities with liquidity risk and investments in other funds or ETFs. Please refer to the prospectus for additional information about the risks of investing in the fund.

Diversification does not assure profit not protect against loss in a declining market.

The Funds are distributed by Quasar Distributors, LLC.

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