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Low Duration Fund

The Muzinich Low Duration Fund (the "Fund") normally invests at least 80% of the Fund's net assets in a well-diversified portfolio of corporate bonds and senior loans, including floating rate loans. Like bonds, senior loans represent amounts borrowed by companies or other entities. Investments are primarily made in securities domiciled in or with principal business in developed markets, both outside the US and within the US. The Fund may have a majority of its assets in foreign securities, with permitted-currency emerging market exposure not to exceed 20% of the Fund's assets. The permitted currencies of the Fund's securities will be USD, EUR, CHF, and GBP.

No more than 40% of the Fund's net assets may be rated below investment grade. The Fund may invest in mutual funds or exchange-traded funds which invest principally in any of the previously mentioned types of fixed income securities and such investments will be included in the Fund's 80% test.

The Advisor seeks to reduce the risk to the Fund from rising interest rates, which will typically result in falling bond prices, by investing principally in securities with shorter durations. The Low Duration Fund's "duration-to-worst" profile is usually no more than two years on average, where duration is a measure of a portfolio’s sensitivity to interest rate changes. Due to market fluctuations, the average "duration-to-worst" profile of the portfolio may vary from time to time. Under normal market conditions, the average "duration-to-worst" profile of the portfolio is not expected to exceed two-and-one-half years. The Advisor believes that this short duration approach reduces the risk to the portfolio from rising interest rates.

The portfolio is actively managed and the Fund may sell a holding when it meets the portfolio manager's expectations, no longer offers compelling relative value, shows deteriorating fundamentals, or it falls short of the portfolio manager's expectations. The portfolio manager may also decide to continue to hold a bond or loan (or related securities) after a default.

 

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 yield to worst (YTW) is the lowest potential yield that can be received on a bond without the issuer actually defaulting.

The Funds are distributed by Quasar Distributors, LLC.

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