Active Advantage Fund Materials

The Active Advantage Fund seeks total return.

Active Advantage Fund Resources


Quarterly Fact Sheet

Most recent Fund information and investment process overview


Active Advantage Strategy

Overview and track record of the Active Advantage Strategy that has been implemented into KADIX


Morningstar Page

View the Active Advantage Fund on public Morningstar website

Fund Information

    A Share C Share I Share      
Ticker Symbol   KADAX KADCX KADIX      
CUSIP Number   56167N381 56167N373 56167N399      
Minimum Investment1   $1,000 $1,000 $25,000      

1 Investment minimums are waived to fee-based advisors and certain other investors.

Open an Account

Fund Operating Expenses

  A Share C Share I Share
Management Fees 1.25%  1.25%  1.25%
Distribution and/or Service (12b-1) Fees2 0.25%  1.00%  0.00%
Other Expenses3 2.39% 2.39% 2.39%
Acquired Fund Fees and Expenses4 0.07% 0.07% 0.07%
Total Annual Fund Operating Expenses  3.96% 4.71% 3.71%
Fee Waivers* (-2.29%) (-2.29%) (-2.29%)
Total Annual Fund Operating Expenses after Fee Waivers  1.67% 2.42% 1.42%

2 The Fund’s distributor may advance to, or reimburse, the Fund 1.00% of the purchase price in connection with 12b-1 fees advanced to authorized broker-dealers on purchases of Class C shares. However, when the distributor makes such a payment, the respective Class C shares are subject to a 1.00% contingent deferred sales charge (“CDSC”) payable to the distributor on shares redeemed prior to the first 12 months after their purchase. Shareholders will be notified at the time of purchase if the shares purchased are subject to this CDSC.

3 Other Expenses have been restated to reflect current fees.

4 Acquired Fund Fees and Expenses are indirect costs of investing in other investment companies. The operating expenses in this fee table do not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund and not the indirect costs of investing in other investment companies.

*Fee waiver pursuant to an operating expense limitation agreement in effect through at least June 30, 2024.

Fund Documents

Summary Prospectus Download
Prospectus Download
Statement of Additional Information (SAI) Download
Annual Report Download
Semi-Annual Report Download
Fund Holdings (03/31/2023) Download
Fund Holdings (09/30/2022) Download

Investing in a mutual fund involves risk, including loss of principal. Risks specific to the Active Advantage Fund are detailed in the prospectus and include Principal Investment Risk, Junk Bond Risk, Bond Risk, Emerging Market Risk, Foreign Investment Risk, Loans Risk, No History of Operations Risk, Management Risk, Market Risk, Mutual Fund Risk, Non-Diversification Risk and Turnover Risk, Derivatives Risk, Futures Contract Risk, Credit Default Swap Agreement Risk, Options Risk, Short Sale risk, Leverage Risk.

For details regarding each risk, please see the Fund's prospectus. Kensington Asset Management, LLC is the adviser to the Active Advantage Fund, distributed by Quasar Distributors, LLC. Member FINRA/SIPC. Kensington Asset Management, LLC is not affiliated with Quasar.