Fund Investment Objectives

The Dynamic Lighthorse China Fund invests in and trades securities, consisting principally, but not solely, of equity and equity-related securities that are traded publicly in the China, Hong Kong and Singapore markets, and in ADRs and GDRs that represent such securities. The Fund also may invest in securities of global issuers that do business in the greater China region, including common and preferred stocks, convertible securities, warrants, rights, options (including covered and uncovered puts and calls and over-the-counter options) and other derivative instruments, notes, bonds and other fixed income securities, private securities, derivatives and money market instruments. The Fund expects to invest both long and short, and may also engage in hedging, leverage and other investment strategies.