Athena Moderate Allocation Funds

Investment Philosophy

Athena Tactical Allocation Mutual Fund Portfolios combine a core allocation of strategy diverse mutual funds with a tactical allocation that is designed to capture market opportunities while protecting against market downturns. The portfolios use patented behavioral research to measure equity manager and investor behavior to determine asset allocation, strategy selection and manager selection. Athena identifies the most attractive mutual funds based on manager behavior including investment strategy, manager consistency and manager conviction. The tactical allocation responds to changing market conditions based on investor behavior. Portfolios allocate between equity, fixed income and cash to match client risk tolerances. Institutional portfolio management techniques are used to manage and monitor investments on an ongoing basis.

Investment Strategy

The portfolio invests 50% in a strategic allocation of equity mutual funds selected using patented behavioral research, which are then diversified among attractive long-term equity strategies. The portfolio also invests 30% in diversified fixed income mutual funds. The remaining 20% of the portfolio is tactically invested in cash or equity based on behavioral market indicators to attempt to reduce volatility and improve performance.