Investing in the Fund involves risk, including possible loss of principal.
The Fund will concentrate its investment in securities relating to the real estate industry. As a result, the Fund's portfolio will be significantly impacted by the performance of the real estate market generally and the Fund may be exposed to greater risk and experience higher volatility than would a less concentrated portfolio. Many issuers of real estate securities are medium or small capitalization companies which may be newly formed or have limited product lines, distribution channels and financial or managerial resources. In addition, valuations of real estate related companies are subject to factors such as changing general and local economic, financial, competitive and environmental conditions.
When the Fund invests in fixed income securities, the value of the Fund's investment will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities. In general, the market price of debt securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities.
The Fund’s investments are subject to liquidity risk. Liquidity risk exists when particular investments of the Fund would be difficult to purchase or sell, possibly preventing the Fund from selling such illiquid securities at an advantageous time or price; or possibly requiring the Fund to dispose of other investments at unfavorable times or prices in order to satisfy its obligations. Funds with principal investment strategies that involve securities of Non-Traded REITs, Non-Traded BDCs, companies with smaller market and/or credit risk tend to have the greatest exposire to liquidity risk.
SEL Asset Management, LLC is an sec-registered investment advisor that advises the Fund.
National Fund Advisors, LLC is an SEC-registered investment advisor that sub-advises the Fund.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information is contained within the Fund's Prospectus, which can be obtained by calling (866) 271-9244, or by visiting our website www.arcincomefunds.com. The Fund's Prospectus should be read carefully before investing. Investing in the Fund involves risk, including possible loss of principal.
Shares of the Fund are not deposits or obligations of any bank, are not insured by the FDIC or any other agency and involve investment risks, including possible loss of the principal amount invested.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE.