CRYSTAL STRATEGY ABSOLUTE RETURN PLUS FUND CLASS I (CSLNX) Exchange: NMFQS

DELISTED - The Fund seeks to provide long-term positive absolute return with reduced correlation to conventional equity markets as a secondary objective. The Fund will attempt to deliver upon its investment objective through a diverse combination of long-based securities focused on capital appreciation, as well as through opportunistic short-based holdings that attempt to reduce or hedge market risk and/or profit from a decline in market value. The Fund will utilize leverage to increase the overall riskiness of the portfolio and provide a more “equity-like” level of volatility. The Fund may invest in both traditional asset classes, such as Domestic Equity, International Equity (up to 50%) and Fixed Income, as well as non-traditional asset classes, such as Absolute Return, Real Assets and Private Equity. The Fund may use borrowing strategies for the purposes of having short exposure within the Fund or to increase the overall market (notional) exposure. Under normal circumstances, the Fund may utilize leverage to create an effective exposure of up to 300% of the Fund’s portfolio. The Fund may engage in short sales of securities to hedge existing assets or profit against an anticipated decline in the price of the securities which are sold short. However, in structuring the Fund’s long and short positions, the Adviser will, under normal circumstances, seek to maintain a leveraged net short bias. The Fund may also allocate to senior loans (classified under the Fixed Income asset class) to obtain income, diversify the Fund or take advantage of favorable risk and reward characteristics. Securities held by the Fund may include, but are not limited to, domestic and international equity securities of all types of issuers (including common and preferred stocks of any size market capitalization), fixed income securities of all types of issuers (including corporate bonds, government bonds, foreign bonds and variable/floating rate securities) and all maturities and ratings (including high-yield debt securities), foreign currencies, commodities or in instruments linked to the price of an underlying commodity or commodity index), exchange-traded notes (“ETNs”), repurchase agreements, as well as investment companies such as exchange traded funds (“ETFs”) and open- and closed-end mutual funds. The Fund may also invest in derivatives such as options, futures, swaps and credit default swaps that the Adviser believes provide a cost-effective way for the Fund to gain exposure to certain securities.