Fundamental Core Fixed Income Fund

Fund Overview

INVESTMENT OBJECTIVE

The Fundamental Core Fixed Income Fund seeks to provide maximum income consistent with prudent investment management and the preservation of capital.

Effective June 15, 2026, the First Foundation Fixed Income Fund was renamed to Fundamental Core Fixed Income Fund.

Investment returns and principal value will fluctuate so that an investor’s shares when redeemed may be worth more or less than their original cost. 

Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund’s full or summary prospectus. Please read the prospectus carefully before investing.

There are risks involved in investing, including loss of principal. Other principal risks include, but are not limited to: Credit Risk; Interest Rate Risk; Financials Sector Risk; Asset-Backed Securities Risk; Preferred Stock Risk; Below Investment Grade Securities (Junk Bonds) Risk; Investments in Investment Company Risk; Municipal Securities Risk; Liquidity Risk; Counterparty Risk; REITs Risk; Real Estate Sector Risk; Equity Risk; Small-, Mid-, Large-Capitalization Company Risk; Prepayment Risk; Foreign Investment/Emerging Markets Risk; Currency Risk; Derivatives Risk; Cyber Security Risk; Market Risk.

Fixed Income Market Risk: The risk that the Fund’s fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments and their agencies. Generally, the Fund’s fixed income securities will decrease in value if interest rates rise and vice versa. In a low interest rate environment, risks associated with rising rates are heightened. 

Mortgage-Backed Securities Risk: The risk of investing in mortgage-backed securities, and includes interest rate risk, prepayment risk and the risk that the fund could lose money if there are defaults on the mortgage loans underlying these securities. Foreign Investment/Emerging Market Risk. The risk that investing in foreign (non-U.S.) securities may result in the Fund experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies, due to smaller markets, differing reporting, accounting and auditing standards, nationalization, expropriation or confiscatory taxation, currency blockages and political changes of diplomatic developments. The cost of investing in many foreign markets are higher than the U.S. and investments may be less liquid. These additional risks may be heightened with respect to emerging market countries because political turmoil and rapid changes in economic conditions are more likely to occur in these countries.