Leader Short Term High Yield Bond Ins LCCIX

The fund invests at least 80% of its net assets in non-investment grade bonds which the advisor defines as securities rated lower than Baa3 by Moody’s Investors Service BBB- by Standard & Poor’s Ratings Group, Fitch BBB-, or, if unrated, as determined by the Advisor to be of comparable quality. The fund’s effective average duration of its portfolio investments will normally be three years or less.