An Innovative Blend
Opposing yet complementary
investment approaches
to help you achieve your financial goals
Opposing yet complementary
investment approaches
to help you achieve your financial goals
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ActivePassive Intermediate Taxable Bond Fund Ticker Share Class A: APTAX
Investment Objective & Strategy The ActivePassive Intermediate Taxable Bond Fund seeks income and capital appreciation. It invests at least 80% of its net assets in bonds (debt securities). The bonds in which the Fund invests typically have a dollar-weighted average maturity of more than three years but less than seven years. The Fund may invest directly in debt securities, which may include investment grade corporate bonds, mortgage-related and other asset-backed securities and securities issued or guaranteed by the U.S. government, its agencies or instrumentalities and through mutual funds or exchange traded funds (ETFs) that invest primarily in those types of debt securities. Current Optimal Ratio*  *The Advisor allocates between 30% and 70% of the Fund's net assets to the subadvisor for active management and between 30% and 70% of the Fund's net assets for passive management. Within these guidelines, the portfolio managers establish the fund's Current Optimal Ratio (COR). The COR is based on the advisor's proprietary and ongoing analysis for each investment category and may change over time. Featured Investments Active Component Sage Advisory Services was founded in 1996 to better meet the portfolio management needs of institutions and individuals. It specializes in domestic and international fixed income markets. Sage is an independent, privately held firm that is 100% employee owned. Sage engineers investment solutions designed to fulfill the needs of today's institutional and individual investors. View Investment Strategy Summary Passive Component Vanguard Total Bond Market ETF (BND) employs an indexing investment approach designed to track the performance of the Barclays Capital U.S. Aggregate Bond Index. At least 80% of the fund's assets will be invested in bonds held in the Index.
Disclosures Mutual fund investing involves risk. Principal loss is possible. The fund is non-diversified, meaning that it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore the fund is more exposed to individual stock volatility than a diversified fund. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in mortgage-backed securities may involve additional risks, such as credit risk, prepayment risk, possible illiquidity and default, and susceptibility to adverse economic developments. The fund will bear its share of the fees and expenses of the underlying funds. Shareholders will pay higher expenses than would be the case if making direct investments in the underlying ETFs. Because the fund invests in ETFs, it is subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF's shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a fund's ability to sell its shares. References to other funds should not be interpreted as an offer of these securities. The fund charges a maximum 5.75% sales load. The sales load is waived for investors purchasing shares through the Advisor's wrap program. Speak with your Investment Advisor for more details.
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