Investment Objective

The investment objective of the Toreador Core Fund (the “Fund”) is long-term capital appreciation.

Principal Investment Strategy

The Fund invests primarily in equity securities of U.S. and foreign large cap companies of a size similar to those in either the S&P 500® Index or the Russell 1000® Index. As of May 29, 2015, the Russell 1000 Index was composed of companies having market capitalizations of between $2.43 billion and $751 billion. As of February 27, 2015 the S&P 500 was composed of companies having market capitalizations of between $2.96 billion and $753.4 billion. In choosing investments, Toreador Research & Trading LLC (the “Adviser”), typically selects large cap equity securities that it believes offer superior return potential and may consider, among other factors, a company’s valuation, projected future earnings, growth potential, recent performance, and business strategy.

The Fund seeks to diversify its investments across a broad spectrum of economic sectors in an attempt to reduce portfolio volatility and investment risk without sacrificing potential returns. In selecting securities within a particular economic sector, the Advisor’s goal is to identify companies that it believes have the potential for superior performance within each sector.

Retail Class Ticker:

Institutional Shares Ticker:

Minimum Investments

Initial investment - Retail Shares: $1,000

Initial investment - Institutional Shares - $10,000

Additional investments - Retail Shares: $100 or more

Additional investments - Institutional Shares: $100 or more

Shareholder Services: (800) 673-0550

Past performance is no guarantee of future results. Your Fund shares, when redeemed, may be worth more or less than their original cost. The Fund's investment objective, risks, charges and expenses must be considered carefully before investing; The prospectus contains this and other information about the investment company and may be obtained by calling (800) 673-0550. The prospectus should be read carefully before investing. There is no guarantee the Fund will achieve its stated investment objective. The Toreador Funds are distributed by First Dominion Capital Corp., Richmond, Virginia. (Member FINRA)