AKAF

The Frontier Economic Fund seeks to track the performance, before fees and expenses, of the Alaska Last Frontier Index. The fund manager employs a "passive management" - or indexing - investment approach designed to track the performance of the index. The index identifies and selects companies for inclusion using criteria designed to evaluate the extent of a company's business activities connected to Alaska, including involvement in the state's economic development, use of the state's natural resources, having a local operational presence, and/or participation in Alaskan government-related initiatives. The fund is non-diversified.