ASTOR ACTIVE INCOME FUND CLASS A SHARES (AXAIX) Exchange: NMFQS

DELISTED - The Fund invests predominantly in exchange-traded funds (“ETFs”) that each invest primarily in (1) equity securities, (2) fixed-income securities, (3) alternative/specialty securities or (4) cash equivalents. The Fund defines equity securities to include ETFs that invest primarily in equity securities, such as common and preferred stocks. The Fund defines fixed-income securities to include ETFs that invest primarily in fixed-income securities, such as bonds, notes and debentures. The Fund defines alternative and specialty securities to include, ETFs that invest in real estate investment trusts (“REITs”), master limited partnerships (“MLPs”) and inverse fixed income ETFs (ETFs designed to produce returns that are opposite to those of the index or instrument to which they are linked). MLPs are limited partnerships in which the ownership units are publicly traded. Pursuant to the Fund’s principal investment strategies, the Fund invests its assets across multiple asset classes by investing in ETFs that each invest primarily in securities of domestic and foreign corporate, government and bank issuers. While the percentage invested in each asset class will change over time, the Fund invests primarily in fixed income securities (as defined above). With respect to fixed income securities, the Fund may invest in debt securities of any maturity or credit quality, including those rated below investment grade (“high yield securities” or “junk bonds”). Below investment grade debt securities are those rated below Baa3 by Moody’s Investors Service or equivalently by another nationally recognized statistical rating organization (“NRSRO”). Under normal market conditions, the Fund invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) measured at the time of purchase in ETFs.   The adviser seeks to achieve the Fund’s investment objective by managing interest rate risk, credit risk and equity market risk. The adviser uses an active strategy based on a proprietary macroeconomic model and investment philosophy to select ETFs that it believes have the potential to generate income and positive returns in the given economic environment. The adviser analyzes indicators relating to interest rate policy, yield curve movement, price momentum and economic data. Economic data inputs include: (1) employment and (2) output . The adviser uses these indicators and economic inputs to determine, what the adviser believes is, the current phase of the economic, market and interest rate cycles. Once the structure of these cycles is identified, the adviser allocates assets and rebalances the Fund’s investment portfolio with the goal of achieving an attractive current yield with the appropriate risk-balanced allocations.   The adviser anticipates rebalancing the Fund’s portfolio based upon the adviser’s determination of changes in the economic and interest rate cycles, as well as other proprietary indicators. By using economic cycle-driven rebalancing, the adviser seeks to provide income. During economic contractions, the adviser will utilize defensive positioning, by decreasing portfolio allocations to credit risk and actively managing interest rate risk exposures.