Horizon Tactical Fixed Income Fund

Overview

The Horizon Tactical Fixed Income Fund is a mutual fund managed by Horizon Investments, aiming to provide total return through a combination of current income and capital appreciation. The fund primarily invests in a diversified portfolio of fixed and floating rate bonds, including both investment-grade and high-yield corporate debt, U.S. government securities, foreign sovereign bonds, preferred stocks, convertible bonds, mortgage-backed securities, and bank loans. It employs a tactical, systematic approach to asset allocation, adjusting exposures based on market trends and risk signals. The fund also incorporates a risk management component that monitors asset class trends daily, reallocating to more defensive investments, such as U.S. government securities and money market instruments, during volatile market conditions. This strategy allows the fund to dynamically adjust its portfolio to seek attractive income opportunities globally while managing risk. The fund is available in both Investor Class (HTFNX) and Advisor Class (HTFAX) shares, with minimum investment requirements of $2,500. As of December 31, 2025, the fund's net assets were approximately $224 million. The fund's expense ratios are 1.18% for Investor Class and 1.33% for Advisor Class shares. The fund's portfolio includes a mix of exchange-traded funds (ETFs) and short-term investments, with significant holdings in ETFs such as the iShares J.P. Morgan USD Emerging Markets Bond ETF, SPDR Blackstone Senior Loan ETF, and VanEck Fallen Angel High Yield Bond ETF. The fund's investment strategy is designed to provide investors with a flexible and risk-managed approach to fixed income investing, aiming to deliver attractive returns through a diversified and actively managed portfolio.