The Tributary Income Fund seeks to maximize total returns in a manner consistent with the generation of current income and the preservation of capital.
The Fund intends to invest primarily all, but must invest at least 80%, of its total assets in fixed income securities and expects to maintain a dollar-weighted average portfolio maturity of four years or more under normal market conditions.
Risk / Return Considerations
The value of the Fund's shares depends on the value of the securities it owns. Bonds offer a relatively stable level of income, although bond prices will fluctuate, providing the potential for principal gain or loss. Intermediate-term, higher quality bonds generally offer less risk than longer-term bonds and a lower rate of return.
This Fund is designed for those who are seeking to maximize current income while preserving their investment capital.
Credit risk: The value of the Fund's fixed income securities is affected by the issuer's continued ability to make interest and principal payments. The value of the Fund's futures contracts is affected by the ability of the counterparty to the contract to meet its obligations under the contract by delivering the securities specified in the contract at the specified time and price. The Fund could lose money if the issuers of its fixed income securities, or the counterparties to its futures contracts, cannot meet their financial obligations, or go bankrupt.
High yield debt instrument risk: High yield debt instruments may be sensitive to economic changes, political changes or adverse developments specific to a company. These securities are subject to greater risk of loss, greater sensitivity to interest rate and economic changes, valuation difficulties and a potential lack of a secondary or public market for securities.
You should consider your own investment goals, time horizon, and risk tolerance before investing in these Funds.