Emles Trust - Emles Real Estate Credit 

The investment seeks investment results that correspond, before fees and expenses, to the price and yield performance of the Solactive U.S. Real Estate Bond Index (the "index"). The index is a market value weighted index designed to measure the performance of corporate bonds issued in the U.S. by U.S. companies (and their subsidiaries) in the real estate sector. The fund will generally invest at least 90% of its net assets (plus borrowings for investment purposes) in the component securities of the index and may invest up to 10% of its assets in certain futures, options and swap contracts, cash and cash equivalents. It is non-diversified.