The primary objective of the Semper Short Duration Fund (the "Fund") is to provide a high level of current income that is consistent with preservation of capital.

Investment Strategy:

The Fund invests primarily in investment-grade, U.S. dollar-denominated debt instruments of domestic entities. This includes U.S. Treasuries, Agencies, Mortgage-Backed, Asset-Backed, and other short duration securities that Semper deems as high quality. Semper has managed separate accounts for institutional investors with a substantially similar investment strategy since 1993.

Purchase & Sale of Shares:

Shares may be bought or sold on any day the NYSE is open. All transactions are processed at the Fund's next net asset value (NAV), which is calculated at 4 pm ET each business day. Sale proceeds will normally be wired on the following business day.

Minimum Investment:

Institutional Class (SEMIX): $1,000,000
Investor Class (SEMRX): $2,500

Minimums may be lower on Broker Dealer Platforms.


Duration: Measure of a bond or bond portfolio's sensitivity to changes in interest rates. Generally, the longer the duration, the greater the price change relative to interest rate movements.