FBP Appreciation & Income Opportunities Fund

Objectives

The investment objectives of the FBP Appreciation & Income Opportunities Fund are long-term capital appreciation and current income, assuming a moderate level of investment risk.

Investment Strategy

The FBP Appreciation & Income Opportunities Fund seeks to achieve its objectives by investing in a portfolio of both equity and fixed income securities.  Equity securities are acquired primarily for capital appreciation or a combination of capital appreciation and income. Fixed income securities are acquired primarily for their income return and secondarily for capital appreciation.

The percentage of assets invested in equity securities and fixed income securities will vary from time to time depending upon the Adviser’s judgment of general market and economic conditions, trends in yields and interest rates and changes in fiscal or monetary policies. In an attempt to reduce overall portfolio risk, provide stability, and meet its working capital needs, the Adviser may allocate a portion of the Fund’s assets to money market instruments. Depending upon the Adviser’s determination of market and economic conditions, investment emphasis may be placed on equity securities, fixed income securities or money market instruments.

The Fund will invest primarily in companies with market capitalizations of $1 billion or more. Although the Fund’s equity investments consist primarily of common stocks, it may also invest a portion of its assets in other equity securities, including ETFs that invest primarily in common stocks, straight preferred stocks, convertible preferred stocks and convertible bonds, that are rated at the time of purchase in the four highest grades assigned by a nationally recognized rating agency, or unrated securities determined by the Adviser to be of comparable quality.

The Fund will generally invest in fixed income securities that mature within 1 to 10 years from their date of purchase except when, in the Adviser’s opinion, long term interest rates are expected to be in a declining trend, in which case maturities may be extended longer. Fixed income securities include corporate debt obligations, U.S. Government obligations and shares of ETFs that invest primarily in corporate debt obligations and U.S. Government obligations.

Please see the prospectus for complete information regarding the FBP Appreciation & Income Opportunities Fund.  An investor should consider the investment objectives, risks, and charges and expenses of the FBP Appreciation & Income Opportunities Fund carefully before investing.  The prospectus contains this and other information about the Funds.  A copy of the prospectus is available by calling the Funds directly at 866.738.1127 or by downloading a copy by clicking the PDF below. The prospectus should be read carefully before investing.

All investments, including an investment in these Funds, are subject to risk including the possible loss of principal. Investment in the Fund is subject to investment risks, including, without limitation, market risk, ETF risk, large company risk, mid-cap company risk, covered call option risk, fixed income risk, interest rate risk, maturity risk, credit risk, mortgage-related securities risk, credit ratings risk, liquidity risk, and investment style and management risk. For more information about the Fund, including the Fund’s objectives, charges, expenses and risks (including more information about the risks listed above), please read the prospectus.

FBP Appreciation & Income Opportunities Fund Fact Sheet (Top 10 Holdings – PDF format – 76kb)

Prospectus (PDF format – 444kb)

Prospectus (XBRL format – 74kb)

XBRL Files : eXtensible Business Reporting Language
The XBRL files above can only be read with special viewer software. Additional information on the XBRL language and a free version of the viewer software is available on the SEC’s website at xbrl.sec.gov.