HCM Dividend Sector Plus

Class A: HCMNX | Class A1: HCMWX | Investor Class: HCMPX

This Fund is designed to select dividend paying stocks from each sector of the S&P based on earnings and valuation metrics. The Fund may leverage up to 33% by using a line of credit to purchase equities when indicators warrant. When in the market, the Fund invests in a portfolio typically equally weighted among the various sectors of the S&P and rebalanced quarterly. The Fund may move from 100% investment in securities to 100% investment in cash and equivalents in an attempt to protect principal.

Principal Investment Strategies: The Fund seeks to achieve its investment objective through investments in (i) dividend paying equity securities of companies included in the S&P 500, the Standard & Poor’s 500 Index is a U.S. stock market benchmark which includes an index of 500 stocks with market value ranging, but not limited to, U.S. equities, index funds & ETFs in small –, mid –, and large cap companies; and (ii) cash and cash equivalents and Put Options, or an option contract in which the buyer has the right to sell a specified quantity of a security at a specified price within a certain time period.

The Fund's investment adviser seeks to invest in companies in the S&P 500, the Standard & Poor’s 500 Index is a U.S. stock market benchmark which includes an index of 500 stocks with market value ranging, but not limited to, U.S. equities, index funds & ETFs in small –, mid –, and large cap companies, of any market capitalization that are paying the highest dividend yields in each of the 10 major S&P 500 industry sectors.

The Fund's investment adviser uses the HCM-BuyLine®, its proprietary quantitative investment model, to determine when the Fund should be in or out of the market. The HCM-BuyLine® uses trend analysis to help identify the broad trend in the equity market. When the trend is down, the Adviser starts to reduce the Fund's exposure to equities, and, when the trend is up, the Adviser increases the Fund's exposure to equities. The Adviser uses its discretion to determine how much the Fund will be in or out of the market based on the strength of the trend identified by the HCM-BuyLine®. When the Fund is out of the market, it will invest in cash and cash equivalents and/or Put Options, or an option contract in which the buyer has the right to sell a specified quantity of a security at a specified price within a certain time period in an effort to hedge the portfolio's equity securities and to reduce volatility. Put Options, or an option contract in which the buyer has the right to sell a specified quantity of a security at a specified price within a certain time period generally have an inverse relationship to the underlying security on which the option is held. When the Fund is in the market, it will invest in equity securities. The Fund may be invested from 0-100% in cash and cash equivalents and/or Put Options, or an option contract in which the buyer has the right to sell a specified quantity of a security at a specified price within a certain time period and 0-100% in equities depending on the strength of the trend identified by the HCM-BuyLine®. In addition, the Fund may leverage up to 33 1/3% of the Fund using a line of credit to purchase equities.

The Advisor's reliance on its strategy and judgments about the attractiveness, value and potential appreciation of particular securities and the tactical allocation among the Fund's investments may prove to be incorrect and may not produce the desired results. When the Fund is out of the market and in cash or cash equivalents, there is a risk that the market will begin to rise rapidly and may cause the Fund to miss capturing the initial returns of changing market conditions. Using leverage can magnify a mutual fund's potential for gain or loss and therefore, amplify the effects of market volatility on a mutual fund's share price.

The Fund may be subject to the risk that its assets are invested in a particular sector or group of sectors in the economy and as a result, the value of the Fund may be adversely impacted by events or developments in a sector or group of sectors. The price of small or medium capitalization company stocks may be subject to more abrupt or erratic market movements than larger, more established companies or the market averages in general. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions.

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