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ActivePassive Global Bond Fund Ticker Share Class A: APGLX
Investment Objective & Strategy The ActivePassive Global Bond Fund seeks income and capital appreciation. It invests at least 80% of its net assets in mutual funds which invest in U.S. and foreign bonds (debt securities). The Fund may invest directly in debt securities, which may include investment grade U.S. and foreign corporate bonds and securities issued or guaranteed by the U.S. government or foreign governments, their agencies, or instrumentalities, and supranational organizations such as the World Bank and through mutual funds or exchange traded funds (ETFs), which invest primarily in those types of debt securities. Current Optimal Ratio*  *The Advisor allocates between 50% and 95% of the Fund's net assets to active management and between 5% and 50% of the Fund's net assets for passive management. Within these guidelines, the portfolio managers establish the fund’s Current Optimal Ratio (COR). The COR is based on the advisor's proprietary and ongoing analysis for each investment category and may change over time. Featured Investments Active Component Seventy-five percent (75%) of the Fund's active component is allocated to the Loomis Sayles Global Bond Fund (LSGBX), which seeks total return by investing primarily in investment grade fixed income securities worldwide. The fund uses an active global fixed income management approach that combines top-down macro-economic analysis with bottom-up security selection, seeking to gain the potential benefits of diversification and return generated through owning non-US bonds. The fund is highly diversified with access to a broad universe of fixed income securities and may invest up to 20% of assets in lower-rated fixed income securities. Twenty-five percent (25%) of the Fund's active component is allocated to the Oppenheimer International Bond Fund (OIBYX), which seeks total return which encompasses both capital appreciation of its investments through changes in international exchange and interest rates, and income. The Fund diversifies investments across what are generally two negatively correlated areas of the international fixed income market, developed and emerging market debt. Typically, investments are spread across at least 40 countries. Passive Component Fifty percent (50%) of the Fund's passive component is allocated to the SPDR® Barclays Capital International Treasury Bond ETF (BWX), which seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Barclays Capital Global Treasury ex-US Capped Index. Fifty percent (50%) of the Fund's passive component is allocated to the Vanguard Total Bond Market ETF (BND), which employs an indexing investment approach designed to track the performance of the Barclays Capital U.S. Aggregate Bond Index. At least 80% of the fund’s assets will be invested in bonds held in the Index.
Disclosures Mutual fund investing involves risk. Principal loss is possible. The fund is non-diversified, meaning that it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore the fund is more exposed to individual stock volatility than a diversified fund. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in lower-rated and non-rated securities present greater risk of loss to principal and interest than higher-rated securities. Investments in foreign securities involve greater volatility and political, economic and currency risks and difference in accounting methods. The fund will bear its share of the fees and expenses of the underlying funds. Shareholders will pay higher expenses than would be the case if making direct investments in the underlying ETFs. Because the fund invests in ETFs, it is subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF's shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a fund's ability to sell its shares. References to other funds should not be interpreted as an offer of these securities. The fund charges a maximum 5.75% sales load. The sales load is waived for investors purchasing shares through the Advisor's wrap program. Speak with your Investment Advisor for more details.
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