North Star Opportunity Fund (North Star Opportunity Fd Cl I) fond

The adviser expects to invest approximately 80 - 100% of its net assets in net long positions in securities that it deems to be underpriced. Target position sizes will range from 0% to 5% of the fund's net assets, for individual stocks and up to 25% for macroeconomic themes. The fund may invest in fixed income securities that are investment grade as well as those that are below investment grade. The advisor may also devote a substantial amount of the fund's capital to cash, cash equivalents or short-term obligations of the U.S. government, its agencies and instrumentalities.