Verity US Treasury Fund

Investor Class: USTVX

OBJECTIVE:

The Fund seeks to earn current income, consistent with preservation of principal.

DISTINGUISHING CHARACTERISTICS:

Portfolio diversifier
A core fixed income strategy designed to diversify equity and credit allocations.

Flexible approach
Actively managing portfolio duration to potentially limit drawdowns and potentially capitalize on opportunities created by changing market conditions.

High quality emphasis
Seeks to offer investors liquidity and safety through a consistently high allocation to U.S. Treasury Securities.

DOCUMENTS:

FUND HOLDINGS:

Mutual fund investing involves risk; principal loss is possible. The value of the Fund’s assets will fluctuate as the U.S. government securities market fluctuates. The Fund invests primarily in securities issued by the U.S. Treasury and may also invest in U.S. government agency securities (such as securities issued by Ginnie Mae, Fannie Mae or Freddie Mac). U.S. government and agency securities are subject to market risk, interest rate risk and credit risk. The Fund’s income generally declines during periods of falling interest rates because the Fund must reinvest the proceeds it receives from existing investments (upon their maturity, prepayment, amortization, call or buy-back) at a lower rate of interest or return.

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