Horizon Active Risk Assist Fund

Fund Description

Investment Objective: The Horizon Active Risk Assist® Fund (the “Fund”) seeks to capture the majority of returns associated with equity market investments, while mitigating downside risk through use of a risk overlay strategy.

The Fund provides global equity exposure and includes a risk mitigation strategy intended to guard against large declines in the Fund's investment portfolio.
The Fund is managed using a multi-disciplined global asset allocation strategy (primarily implemented with Exchange-Traded Funds (ETFs)), coupled with Horizon’s risk mitigation component (Risk Assist®), which is designed to mitigate downside risk. The risk mitigation component is engaged when volatility and other market conditions move from what Horizon considers to be “normal” to “abnormal,” and where processes such as asset allocation and diversification may be, in the view of Horizon, insufficient to mitigate from unrecoverable loss. In these “abnormal” environments, the Risk Assist methodology moves assets from equities exposure to defensive securities exposure in an effort to mitigate against large declines in the value of the Fund. Conversely, Risk Assist will generally not be engaged during an atmosphere of normal volatility and rising markets, in an attempt to avoid missing out on upside opportunity. Risk Assist is not a timing strategy, however, as it does not forecast asset returns in any manner. It is not designed to “sell tops” or “buy bottoms”; rather it is designed to accomplish its specific risk management goal of mitigating drawdown. The Risk Assist program is run daily.

Aspects of This Active Fund

Opportunistic Strategy: The underlying primary investment strategy for the Fund is Horizon’s active asset allocation investment approach, which accesses a large universe of global investment opportunities, including market, style, sector, country and factor indexes.

Flexible Management: The Fund is actively managed, using flexible asset allocation techniques to navigate volatile market swings. Horizon’s goal is to capture upside price moves in rising markets and reduce downside risk when markets decline.

Risk Strategy: With the Risk Assist® strategy, Horizon continually measures market conditions with a specific focus on characteristics that indicate abnormal or severe risk conditions in order to apply a proprietary process that prompts a risk reduction of the portfolio. Horizon executes this strategy by investing up to 100% of the Fund in Treasury-related securities. The Risk Assist® strategy is designed to help guard investors from catastrophic market events and maximum drawdowns. The objective is to remain fully invested for as much time as possible and to hedge only when necessary.


Fund Facts

Share Classes Ticker CUSIP Inception Expense Ratio
Advisor Class ARAAX 44053A408 Sep 4, 2015 1.55%
Investor Class ARANX 44053A606 Aug 28, 2014 1.37%
Institutional Class ACRIX 44053A507 Sep 9, 2016 1.26%
Class Advisor Class Investor Class Institutional Class
Ticker ARAAX ARANX ACRIX
CUSIP 44053A408 44053A606 44053A507
Inception Sep 4, 2015 Aug 28, 2014 Sep 9, 2016
Expense Ratio 1.55% 1.37% 1.26%

Performance

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 Inception date for the table above is per share class; all returns greater than one year are presented as annualized returns. Inception dates for share classes can be found in the Fund Facts table above. 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 an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted.


Top Holdings

Holdings data as of TBD.

 Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security. 


Disclosure

Mutual fund investing involves risk. Principal loss is possible. In addition to the costs, fees, and expenses involved in investing in ETFs, ETFs are subject to additional risks including the risks that the market price of the shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund's ability to sell its shares. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater in emerging markets. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. Small and Medium capitalization companies tend to have limited liquidity and greater price volatility than large capitalization companies. Investments in Real Estate Investment Trusts (REITs) involve additional risks such as declines in the value of real estate and increased susceptibility to adverse economic or regulatory developments. The Fund may also use options, which have the risks of unlimited losses of the underlying holdings due to unanticipated market movements and failure to correctly predict the direction of securities prices, interest rates and currency exchange rates. The investment in options is not suitable for all investors.
There can be no guarantee that the Risk Assist strategy, including the ratchet function, will be successful in preventing losses in the Fund’s portfolio. Because the Risk Assist strategy may be implemented in stages, the Fund may have market exposure during times when the Risk Assist strategy is being implemented. To the extent that the Risk Assist strategy is implemented, the Fund will likely not benefit from capital appreciation or income from the equity markets.