Transcription of INNOVATOR
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INNOVATOR
SEMI-ANNUAL REPORTINNOVATORMCKINLEY INCOME FUNDI nvestor Class (IMIFX)Class I (IMIIX)IBD 50 FUND(FFTY)May 31, 2017 ACADEMY FUNDS TRUST Dear Valued Shareholders,Thank you for your continued support of the INNOVATOR IBD 50 Fund (FFTY) and theInnovator McKinley Income Fund. INNOVATOR Capital Management, LLC looks forwardto continuing to work together. As we look to the near future, we are hopeful to offerexciting new solutions that will continue to incorporate Investor s Business Daily s( IBD ) proprietary stock evaluation process and McKinley s broad institutionalinvestment research following shareholder letter covers the first half of the funds fiscal 2017 (December 1, 2016 through May 31, 2017).
5 INNOVATOR MCKINLEY INCOME FUND Index Comparison B B B B B B B B B B B B B B B B $8,000 $10,000 $12,000 $14,000 $16, 0 $18,000 Inn ovator McKinl ey Income Fund – I nvestor Class
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