| Investment Objective: |
The Core Equity Fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing primarily in equity securities, including common stocks of U.S. companies, Real Estate Investment Trusts ("REITs"), and American Depository Receipts ("ADRs") representing non-U.S. companies. The sub-advisor employs a flexible approach that combines active management and quantitative models to allocate the Fund's portfolio among issuers, sectors, and/or factors (such as growth, value, momentum, quality, size, and volatility). Horizon selects securities believed to offer the highest projected return for a given level of risk, using a multi-disciplinary approach that includes economic, quantitative, and fundamental analysis. Horizon selects portfolio investments without restriction as to the issuer's market capitalization. The Core Equity Fund may seek to generate income through an options strategy involving primarily put spreads on broad-based securities indices, such as the S&P 500, or ETFs that track broad-based indices. |
