Catalyst Fund

Fund Investment Objectives

The Catalyst Portfolio is a multi-manager, single-strategy portfolio with an investment philosophy focusing primarily on investments in opportunities created by significant transactional events, such as spin-offs, merger and acquisitions, liquidations, reorganizations, bankruptices, recapitalizations and share buybacks and other extraordinary corporate transactions. The portfolio is expected to have moderate volatility and tend to be less correlated with the general equity markets because these opportunities are issuer or transaction specific.