Horizon Tactical Fixed Income Fund Advisor Class (HTFAX)

Overview

The Tactical Income Fund operates under the guidance of its investment adviser with a clear aim to fulfill its investment objective by diversifying its portfolio across different sectors of the global securities markets. The Fund focuses on generating tactical income by meticulously selecting investments that span a wide range of financial instruments. This approach allows the Fund to adapt to changing market conditions and seek income opportunities while aiming to manage risk effectively.

Products and Services

• Fixed and Floating Rate Bonds

  These are bonds issued by U.S. and foreign corporations, available in both fixed and floating rate formats. Fixed-rate bonds provide regular interest payments based on a fixed rate, while floating-rate bonds offer interest payments that adjust over time with market interest rate changes. The portfolio includes both investment-grade bonds, which have a lower risk of default, and non-investment grade bonds, which offer higher yields in exchange for higher risk.

• Debt Securities Issued by the U.S. Government

  These securities are debt instruments issued by the U.S. government and its agencies and instrumentalities. They are considered low-risk investments and include various securities such as Treasury bonds, bills, and notes, which offer investors a safe option for income generation.

• Foreign Sovereign Debt

  This includes government bonds issued by foreign countries. Similar to U.S. government debt, these bonds offer investors the opportunity to generate income while also providing a way to diversify internationally. The risk and return profile of foreign sovereign debt can vary widely depending on the issuing country's economic and political stability.

• Preferred Stocks

  Preferred stocks are equity securities that offer a fixed dividend and have priority over common stock in the event of the company's liquidation. They combine features of both debt and equity, offering potential for income generation along with the possibility of capital appreciation.

• Convertible Bonds

  Convertible bonds are corporate bonds that can be converted into a predetermined number of the company's shares at certain times during the bond's life, usually at the discretion of the bondholder. This feature provides potential for upside participation in the company's equity performance while also offering the income and security of a bond.

• Mortgage-Backed Securities

  Mortgage-backed securities (MBS) are investments secured by mortgages, which are pooled together. These complex financial instruments allow investors to gain exposure to the real estate market with the added security of being backed by tangible assets. However, they also carry risks associated with changes in interest rates and the creditworthiness of the borrowers.

• Bank Loan Assignments and Participations

  These financial instruments involve the purchasing of rights or participation in syndicated bank loans to corporations. This allows the Fund to invest in the debt of corporations indirectly and benefit from interest payments, offering a way to diversify its income sources and manage risk through exposure to the corporate loan market.