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Disclaimer

Investors should consider the investment objectives, risks, and charges and expenses of the Fund(s) before investing. The prospectus contains this and other information about the Fund(s) and should be read carefully before investing. The prospectus may be obtained at our Toll-Free number 833-404-2747 or at ProspectEnhanced.com.

All investments involve risk, including the risk of loss of all or a portion of the invested amount. Any investment is subject to a variety of risks and there can be no assurance that any investment will meet its investment objectives, if any, or that investors will not incur losses.

The Prospect Enhanced Yield Fund is distributed by Ultimus Fund Distributors, LLC, Member FINRA/SIPC.

Important Risk Factors to Consider

An investment in shares of the Fund involves a high degree of risk and may be considered speculative. Although the Fund will implement a Share repurchase program, only a limited number of Shares will be eligible for repurchase by the Fund. Shares will not be redeemable at a Shareholder’s option, nor will they be exchangeable for shares of any other fund. As a result, an investor may not be able to sell or otherwise liquidate his or her Shares.

You should carefully consider the information found in “Important Risk Factors to Consider” before deciding to invest in our shares. The following are some of the risks an investment in us involves:

  • Global economic, political, or financial market conditions including changes in interest rates or economic recessions or downturns
  • Limited liquidity and lack of transferability
  • Reinvestment risk
  • No assurance that distributions will be made or that any particular rate of distributions will be maintained
  • Risk that the Fund’s operating results will be affected by economic and regulatory changes, including legislative change to taxes
  • Risks related to failing to qualify as a regulated investment company for U.S. federal income tax purposes
  • Exposure to leveraged credit risk and interest rate risk
  • Potential uncertainty as to the value of the Fund’s assets
  • Structured credit securities involve certain risks in addition to the general risks typically associated with investing in debt securities
  • Risks associated with ABS investments including default, valuation, prepayment, extension, and interest rate risk
  • Interruption and deferral of cashflow to our investments in structured credit instruments
  • Risks related to the CLO primary market including negative market environments hampering a CLO collateral manager’s ability to meet diversification
  • Investments in foreign securities may involve significant risks in addition to the risks inherent in U.S. securities
  • Investment concentration risk
  • CLOs typically will have no significant assets other than their underlying Senior Secured Loans
  • Risk associated with credit derivatives including liquidity, volatility, pricing, leverage, and credit risks of the underlying assets and counterparty
  • Risks associated with CMBS investments including lack of standardized terms, maturity, and repayment risks
  • Our investments in Target Securities may be illiquid.
  • May invest in assets with limited or no performance or operating history
  • Risks associated with lending activities, including underlying borrower fraud and risk of increased leverage
  • Non-investment grade debt involves a greater risk of default and higher price volatility than investment grade debt
  • Absence of investments identified for acquisition
  • Payment of significant fees to the Fund’s Adviser and its affiliates
  • Potential Conflicts of Interest
  • Risk of investment professional turnover
  • Restricted entry into transactions with our affiliates
  • Ability to invest net proceeds on acceptable terms in an acceptable timeframe
  • Purchasers of our shares are subject to dilution as a result of expenses we will incur in connection with this offering. In addition, we intend to continue to issue shares, which subjects your ownership percentage in us to further dilution.

These and other risks may impact the Fund’s financial condition, operating results, returns to its investors, and ability to make distributions as stated in the Fund’s prospectus.

NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES COMMISSION HAS APPROVED OR DISAPPROVED ANY OFFERING OF PROSPECT ENHANCED YIELD FUND ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. AN OFFERING IS MADE ONLY BY THE PROSPECTUS. THIS MATERIAL MUST BE PRECEDED OR ACCOMPANIED BY A PROSPECTUS. YOU SHOULD READ THE PROSPECTUS IN ORDER TO UNDERSTAND FULLY ALL OF THE IMPLICATIONS AND RISKS OF THE OFFERING OF SECURITIES TO WHICH IT RELATES. The information provided does not take into account the specific objectives or circumstances of any particular investor or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors.