The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Nav data reflects price of 1 share, as well as price change and percent change since the previous trading day.

The performance data quoted represents past performance, past performance does not guarantee future results, the investment return and principal value of an investment will fluctuate so that when redeemed, it may be worth more or less than their original cost, and current performance may be lower or higher than the performance data quoted.

The maximum sales charge for Class “A” Shares is 4.75%. The Fund’s total operating expenses are 2.38%, 3.13%, and 2.13% for the Class A, C, and I Shares respectively.

The advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating expenses (excluding brokerage costs; underlying fund expenses; borrowing costs such as (a) interest and (b) dividends on securities sold short; taxes and, extraordinary expenses) at 1.74%, 2.49% and 1.49% for Class A shares, Class C shares and Class I shares, respectively, through July 31, 2024.

Performance shown before May 28, 2021 is for the Fund’s Predecessor Fund (Strategos Deep Value Fund LP). The prior performance is net of management fees and other expenses including the effect of the performance fee. The Predecessor Fund had an investment objective and strategies that were, in all material respects, the same as those of the Fund, and was managed in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund. From its inception to May 28, 2021, the Predecessor Fund was not subject to certain investment restrictions, diversification requirements and other restrictions of the 1940 Act or the Code, which if they had been applicable, might have adversely affected its performance. In addition, the Predecessor Fund was not subject to sales loads that would have adversely affected performance. Performance of the Predecessor Fund is not an indicator of future results.

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above.

Important Risk Information

Investing in the Fund carries certain risks. Credit risk is the risk that the issuer of a security will not be able to make principal and interest payments when due. Fixed income securities will fluctuate with changes in interest rates. Lower-quality bonds, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality. The Fund may, at the discretion of management, target a specific level of monthly distributions (including any return of capital) from time to time. Shareholders should not assume that the source of a distribution from the Fund is net profit. The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and political factors that negatively impact the real estate market and the direct ownership of real estate. Liquidity risk exists when particular investments are difficult to sell. Although most of the Fund’s securities must be liquid at the time of investment, the Fund may purchase illiquid investments and securities may become illiquid after purchase by the Fund, particularly during periods of market turmoil.

Please see the prospectus for all of the principal risks of investing in the Fund.