An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available here or by calling Shareholder Services at 1-800-773-3863. The prospectus should be read carefully before investing.
An investment in the Fund is subject to investment risks, including the possible loss of some or all of the principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objectives. Generally, the Fund will be subject to the following additional risks: Cybersecurity, Derivative, Fixed Income, Foreign Securities, Inverse Correlation, Investments in ETFs, Leverage, Leveraged or Inverse ETFs, Management Style, Manager, Market, Portfolio Turnover, Sector Focus, Utilities, and Small-Cap and Mid-Cap Securities. In addition to theses risks, the Fund is subject to Non-Diversified Fund Risk, meaning that a relatively high percentage of assets may be invested in a limited number of issuers of securities. From time to time, the Fund may also focus its investments in a limited number or market sectors and may at times invest more than 25% of its net assets in a particular sector. More information about these risks can be found in the Fund’s prospectus.
The Sector Rotation Fund is distributed by Capital Investment Group, Inc., Member FINRA/SIPC, 100 E. Six Forks Road, Suite 200, Raleigh, North Carolina 27609. There is no affiliation between the Sector Rotation Fund including its principals, and Capital Investment Group, Inc.
*As of 12/31/18, the Sector Rotation Fund (NAVFX) received a Morningstar rating based on risk-adjusted returns of 5 stars overall, 4 stars for the three-year period & 5 stars for the five-year period among 240 and 178 Tactical Allocation funds, respectively. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Current and future holdings are subject to change and risk.