Quantified Pattern Recognition Investor (Quantified Pattern Recognition ) Fonds

The fund primarily invests in equity index mutual funds, unaffiliated equity index exchange traded funds ("ETFs"), futures contracts, equity index swaps and cash equivalents. It invests in ETFs and mutual funds that are not affiliated with the Adviser or Subadviser. The Subadviser seeks to achieve the fund's investment objective by identifying daily patterns in stock indexes or sectors within stock market indexes that it has found to be determinative of probable future price direction.