Deer Park Total Return Credit A DPFAX

The fund will invest primarily in asset-backed debt securities ("ABS"), which are predominantly backed by mortgages on real estate. It will typically invest in both fixed and floating rate securities, although the ratio between the two will vary from time-to-time depending upon market conditions and available investment opportunities. The fund's adviser has delegated management of the fund's portfolio to a sub-adviser. The fund may also invest in other types of asset-backed or debt securities.