Spectrum Low Volatility Fund Investor Class (SVARX)

The primary adviser for this fund delegates the management of its investment approach to a specialized sub-adviser. The fund's assets are primarily allocated to a diversified collection of income-generating fixed-income securities. However, the sub-adviser does not directly select individual bonds or other debt instruments. Instead, it channels the fund's capital into other collective investment vehicles, specifically mutual funds and exchange-traded funds (ETFs). These underlying funds, in turn, predominantly invest in either fixed-rate or floating-rate fixed income securities.