Small Cap Opportunities Fund

A Share: SMZAX, C Share: SMZCX, I Share: SMZIX

Objective: The Fund’s investment objective is longterm capital appreciation.

Investment Strategy:

  • The Fund seeks to achieve its investment objective by investing in common stocks of small capitalization companies that the Sub-Advisor believes have underappreciated earnings potential and exhibit reasonable valuations. Although the Fund invests primarily in U.S. companies, it may invest in the securities of foreign issuers listed on U.S. exchanges, including ADRs.
  • The Sub-Advisor employs proprietary bottom-up research to identify companies with potential for capital appreciation. The Sub-Advisor seeks to invest in companies that are priced at reasonable valuations in order to attempt to mitigate valuation risk. It generally considers valuations for a company to be reasonable when valuation multiples are near or below historical averages.
  • The Fund may take temporary defensive positions when attempting to respond to adverse market, economic, political, or other conditions.

Minimum Investment: $2,500, Subsequent Investment: $100

4639-NLD-5/30/2018

Asset Rotation Fund

A Share: ROTAX, C Share: ROTCX, I Share: ROTIX

Objective: To achieve long-term capital appreciation with less overall risk than the equity market by implementing a disciplined, rules-based investment process tactically focusing on global asset class ETFs experiencing the greatest strength.

Primary Goals and Key Reasons to Invest:

  1. Tactical and Flexible: The Fund seeks to allocate to the global asset class exchange traded funds (ETFs) experiencing the most strength each month. The goal is to generate superior risk-adjusted returns in any economic environment.
  2. Downside Protection: If the proprietary screens used to rank the strength of each asset class demonstrate weakness in equities, the Fund may invest only in U.S. Treasury Bond ETFs, potentially limiting equity market drawdowns.
  3. Disciplined Strategy: We use a proprietary, rules-based approach to select the global asset class ETFs demonstrating the most strength.

Minimum Investment: $2,500, Subsequent Investment: $50

Bond Rotation Fund

A Share: BDRAX, C Share: BDRCX, I Share: BDRIX

Objective: To achieve long-term capital appreciation and total return through various economic and interest rate environments by implementing a disciplined, rules-based process tactically focusing on the global bond asset class ETFs experiencing the most strength.

Primary Goals and Key Reasons to Invest:

  1. Tactical and Flexible: The Fund tactically invests in the global bond asset class exchange traded funds (ETFs) experiencing the most strength each month. The goal is to generate superior risk-adjusted returns in any economic and interest rate environment.
  2. Seeks Downside Protection: If the proprietary screens used to rank the strength of each bond asset class demonstrate weakness, the Fund may invest only in U.S. Treasury Bond ETFs and/or cash, potentially limiting drawdowns.
  3. Disciplined Strategy: We use a proprietary, rules-based approach to select the global bond asset class ETFs demonstrating the most strength.

Minimum Investment: $2,500, Subsequent Investment: $50

Global Innovations Fund

A Share: GNXAX, C Share: GNXCX, I Share: GNXIX

Objective: To achieve long‐term growth of capital.

Primary Goals and Key Reasons to Invest:

  • Global Growth Opportunity: We believe growth in robotics for workplace automation has reached a tipping point towards wide-scale adoption Global spending on robotics is rapidly expanding.
  • Thematic Investment Opportunity: The AlphaCentric Global Innovations Fund (GNXAX) is the first actively managed mutual fund dedicated to automation and robotics. The Fund is diversified by company industry sector country market capitalization and style and acts as a complement to a diversified equity portfolio.
  • Long-term Growth of Capital: The Fund employs proprietary, bottom up research to identify companies worldwide with innovation technologies such as robotics and automation companies and potential for long‐term out-performance.
  • Disciplined Strategy: The Fund will concentrate its investments (i.e. invest more than 25% of its assets) in the machinery and electrical equipment industries. The Fund may invest without limit in companies located anywhere in the world and under normal conditions at least 40% of the Fund’s assets will be in securities of issuers domiciled in at least countries outside of the United States.

Minimum Investment: $2,500, Subsequent Investment: $100

Hedged Market Opportunity Fund

A Share: HMXAX, C Share: HMXCX, I Share: HMXIX

Objective: To achieve capital appreciation with lower overall volatility than the equity market.

Primary Goals and Key Reasons to Invest:

1. Capital Appreciation: Capital Appreciation: The Fund seeks to provide capital appreciation in all market conditions. Since inception, the Fund has weathered volatile financial markets without large drawdowns.
2. Low Correlation: The Fund seeks returns that are uncorrelated to equity markets through a strategy that profits from options time decay, changes in options volatility, options volatility arbitrage, and price and options volatility mean reversion.

Minimum Investment: $2,500, Subsequent Investment: $100

Income Opportunities Fund

A Share: IOFAX, C Share: IOFCX, I Share: IOFIX

Objective: To achieve current income and total return by implementing an alpha-driven, “principles-based” investment process focusing on complex and hard to source asset-backed securities.

Primary Goals and Key Reasons to Invest:

  1. Non-Agency RMBS Focus: The Fund focuses on non-agency residential mortgage-backed securities (RMBS), although the Fund can invest where management finds value. The management team’s clearly-defined, niche focus is the core of the RMBS strategy’s success.
  2. Strong Track Record*: The Sub-Advisor has managed a substantially similar strategy that has consistently met its objective of current income while outperforming its benchmark.
  3. Private Asset Backed Exposure: Unique sourcing to high coupon, well-capitalized proprietary deal flow may lead to additional alpha.

Alpha: A measure of the difference between a fund’s actual returns and its expected performance, given its level of risk as measured by beta.

* See Prospectus for historical performance. Past performance is no guarantee of future results.

Minimum Investment: $2,500, Subsequent Investment: $50