GPS MULTIPLE STRATEGY FUND INVESTOR CLASS SHARES (GPSIX) Exchange: NMFQS

DELISTED - The Fund seeks to achieve its investment objective primarily by investing in equity securities of U.S. and foreign companies listed on U.S. stock exchanges. The Fund's investments may include common stock, preferred stock, investments in foreign equity securities through U.S. stock exchange listed American Depository Receipts ("ADRs") and exchange-traded funds ("ETFs"). Under normal circumstances, the Fund will invest at least 80% of its net assets (including the amount of any borrowings for investment purposes) in U.S. and foreign equity securities listed on U.S. stock exchanges. In selecting investments for the Fund, the Adviser generally considers companies that the Adviser believes has the potential for capital appreciation and meets one or more of the following characteristics: • companies that have insiders buying; • companies that are spin-offs of operating divisions or subsidiaries of large companies; • companies that have a shrinking float (i.e., a reduction in the number of publicly traded shares available for trading); • companies that are deemed by the Adviser to be trading at an attractive valuation; • companies that are deemed by the Adviser to have above average earnings or growth potential; or • companies that are a target of shareholder activism. The Adviser will continually evaluate the Fund’s portfolio and will seek investments in companies that the Adviser determines to be the best prospects for capital appreciation. A security may be sold when the Adviser has identified a more attractive security, or the security no longer meets the Adviser’s criteria. The Adviser’s analysis typically uses a "bottom up" approach that focuses on the specific attributes of each company rather than the industry or sector in which the company operates or the state of the economy in general. The Fund may invest in companies of any market capitalization. The Fund’s investments in foreign securities will primarily be in companies in developed countries.