Horizon Tactical Fixed Income Fund
Fund Description
Investment Objective: The investment objective of the Horizon Tactical Fixed Income Fund (the “Tactical Income Fund”) is to seek to provide total return through a combination of current income and capital appreciation.
Aspects of This Active Fund
Opportunistic Strategy: The Tactical Income Fund’s investment adviser, Horizon Investments, LLC (“Horizon”), seeks to achieve the Tactical Income Fund’s investment objective by allocating to investments across various sectors of the global securities markets. The Tactical Income Fund’s investments will be primarily comprised of fixed and floating rate bonds of U.S. and foreign corporate issuers, both those that are investment-grade and non-investment grade (i.e., high yield or “junk” bonds); debt securities issued by the U.S. government and its agencies and instrumentalities (collectively, “U.S. Government Securities”); foreign sovereign debt; preferred stocks; convertible bonds; mortgage-backed securities (“MBS”); and bank loan assignments and participations. Horizon may execute the Tactical Income Fund’s strategy by investing in exchange-traded funds (“ETFs”) that invest primarily in the foregoing or by investing directly in individual securities or baskets of securities.
Active Management: Horizon selects and weights securities using a flexible approach that combines active management and quantitative models to allocate the Tactical Income Fund’s portfolio. The Tactical Income Fund’s strategy is primarily driven by a tactical, systematic approach that uses measures of past return and risk to shift the Tactical Income Fund’s holdings towards asset classes determined by Horizon to have high and stable measures of price trends. Depending on market conditions, the Tactical Fixed Income Fund may at times focus its investments in particular sectors or areas of the economy.
Risk Strategy: The strategy also incorporates a tactical risk management component that monitors asset class trends on a daily basis, and, if conditions deteriorate, prompts Horizon to reduce the Tactical Income Fund’s exposure to that asset class and allocate to more defensive-oriented investments, including, without limitation, U.S. Government Securities and money market instruments. As a result of the Tactical Income Fund’s tactical risk management strategy, in certain market conditions up to 100% of the Tactical Income Fund’s portfolio may be invested in U.S. Government Securities or money market instruments.
Fund Facts
| Share Classes | Ticker | CUSIP | Inception | Expense Ratio |
| Advisor Class | HTFAX | 44053A663 | Dec 20, 2022 | 1.33% |
| Investor Class | HTFNX | 44053A648 | Dec 20, 2022 | 1.18% |
| Institutional Class | HTFIX | 44053A655 | Dec 20, 2022 | 1.08% |
| Class | Advisor Class | Investor Class | Institutional Class | |
| Ticker | HTFAX | HTFNX | HTFIX | |
| CUSIP | 44053A663 | 44053A648 | 44053A655 | |
| Inception | Dec 20, 2022 | Dec 20, 2022 | Dec 20, 2022 | |
| Expense Ratio | 1.33% | 1.18% | 1.08% |
Performance
Monthly (as of TBD)
| Class | 1-Mon | 3-Mon | YTD | 1-Yr | 3-Yr | 5-Yr | Inception |
|---|---|---|---|---|---|---|---|
| Investor Class | - | - | - | - | - | - | - |
| Advisor Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
| Investor Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
| Institutional Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
Quarterly (as of TBD)
| Class | 1-Mon | 3-Mon | YTD | 1-Yr | 3-Yr | 5-Yr | Inception |
|---|---|---|---|---|---|---|---|
| Investor Class | - | - | - | - | - | - | - |
| Advisor Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
| Investor Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
| Institutional Class | |
| 1-Month | - |
| 3-Month | - |
| YTD | - |
| 1-Year | - |
| 3-Year | - |
| 5-Year | - |
| Inception | - |
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 and ADRs 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. Investments in mortgage-backed securities (MBS) include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. Lower-quality fixed income securities, known as “high yield” or “junk” bonds, present a significant risk for loss of principal and interest. These bonds offer the potential for higher return, but also involve greater risk than bonds of higher quality, including an increased possibility that the bond’s issuer, obligor or guarantor may not be able to make its payments of interest and principal (credit quality risk). These investments are considered to be speculative in nature. The Fund may invest in convertible securities. The value of convertible securities is influenced by changes in interest rates (with investment value declining as interest rates increase and increasing as interest rates decline) and the credit standing of the issuer.