Sales Charge Schedule

Sales Charge Schedule — A Shares

An initial sales charge is assessed on purchases of A Shares as follows:

Sales Charge (Load) as % of:
Amount of Purchase	Public Offering Price	Net Asset Value⁽¹⁾	Broker/Dealer Reallowance %
Less than $50,000	4.75%	4.99%	4.00%
At least $50,000 but less than $100,000	4.50%	4.71%	3.75%
At least $100,000 but less than $250,000	3.50%	3.63%	3.00%
At least $250,000 but less than $500,000	2.50%	2.56%	3.00%
At least $500,000 but less than $1,000,000	1.75%	1.78%	1.50%
$1,000,000 and greater⁽²⁾	0.00%	0.00%	0.00%

⁽¹⁾ Rounded to the nearest one-hundredth percent. Because of rounding of the calculation in determining sales charges, the charges may be more or less than those shown in the table.

⁽²⁾ No initial sales charge applies on purchases of $1 million or more. A CDSC of up to 1.00% of the offering price will be charged on purchases of $1 million or more that are redeemed in whole or in part within twelve months of purchase.

The offering price for A Shares includes the relevant sales charge. The commission paid to the Distributor is the sales charge less the reallowance paid to certain financial institutions purchasing shares. Normally, reallowances are paid as indicated in the previous tables.

Contingent Deferred Sales Charge Schedule — A Shares and C Shares.

A CDSC of 1.00% of the purchase or sales price, whichever is less, is assessed on redemptions of A Shares that were part of a purchase of $1 million or more and that are liquidated in whole or in part within twelve months of purchase for the Fund. A CDSC of 0.75% of the purchase or sales price, whichever is less, is assessed on redemptions of C Shares that are liquidated in whole or in part within twelve months of purchase for the Fund.

To satisfy a redemption request, the Fund will first liquidate shares that are not subject to a CDSC such as shares acquired with reinvested dividends and capital gains. The Fund will then liquidate shares in the order that they were first purchased until the redemption request is satisfied.

Advisor:

Liberty Street Advisors
125 Maiden Lane, Floor 6
NY, NY 10038
Founded 2007

Sub Advisor:

Horizon Asset Management
470 Park Ave South
NY, NY 10016
Founded 1994

View the Fund's Summary Prospectus, Prospectus and Statement of Additional Information

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The Liberty Street Horizon Fund is distributed by Foreside Fund Services, LLC.