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Invest in an Altegris Mutual Fund

Altegris Managed Futures Strategy Fund

The choice for flagship managed futures exposure through an actively managed, diversified mutual fund, providing what we believe to be the best representation of managed futures in a single, dynamic portfolio.

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Crabel Capital Management
AlphaTerra Advanced Trend Strategy
Sub-Adviser
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Crabel Capital Management
Alpha Terra Gemini Strategy
Sub-Adviser
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Centurion Investment Management, LLC
Diversified Program
Trading Adviser
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GSA Capital Partners LLP
GSA Trend Strategy
Sub-Adviser
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Millburn
Millburn
Sub-Adviser
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PhaseCapital LP
Phase II Fund Strategy
Sub-Adviser
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QMS Capital Management LP
FOGM Strategy
Sub-Adviser
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Three Rock Capital Mgmt. Limited
Global Macro Strategy
Trading Adviser
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The Altegris Managed Futures Strategy Fund, an actively managed mutual fund, seeks to achieve positive absolute returns in rising and falling equity markets, primarily through exposure to the commodity and financial futures markets. The Fund aims to achieve its goal by accessing returns of trend-following and specialized managed futures investment managers.

The experienced portfolio management team at Altegris Advisors allocates the Fund’s assets investments: (A) directly (or through its wholly-owned subsidiary) in financial instruments including, but not limited to (1) options, (2) futures, (3) forwards or (4) spot contracts, each of which may be tied to (i) commodities, (ii) financial indices and instruments, (iii) foreign currencies, or (iv) equity indices; and (B) indirectly by accessing the returns of the above-described types of financial instruments through investments (via its wholly-owned subsidiary) in a combination of securities issued by one or more commodity futures trading companies (e.g., underlying pools), swap contracts and structured notes providing the returns of reference assets including such underlying pools or other securities or derivatives.

These investments are selected with the aim of providing aggregate exposure to the managed futures sub-strategies of the managers listed in the chart below, as if between 100% and 125% of the Fund’s net assets were invested in those strategies.

 

Managed Futures Strategy Exposure

(as of 05/18/2017)1
Manager and Program Exposure2

GSA Capital Partners LLP

22.5%

Millburn MCOR

15%

PhaseCapital LP

12.5%

QMS Capital Management LP

12.5%

Three Rock Capital Management Limited

12.5%

Crabel AlphaTerra Advanced Trend

10%

Centurion Investment Management, LLC

7.5%

Crabel AlphaTerra Gemini

7.5%

The Fund’s access to managers and the percentage exposures to the specific managed futures sub strategies and programs listed above are presented to illustrate examples of the diversity of managers and programs accessed by the Fund through its managed futures investments, but may not be representative of the Fund’s past, or its future, access and exposure to managed futures managers, sub-strategies and programs. It should not be considered a recommendation or investment advice.

With respect to the remainder of Fund assets not invested in managed futures investments via a wholly-owned subsidiary, the Fund pursues a fixed income strategy intended to generate interest income and to diversify returns generated by the managed futures strategies listed above. The Fund’s fixed income strategy investments, including holdings of fixed income securities, cash, and cash equivalents, are not reflected or included within percentage exposures listed in the table above.

1. The managed futures investments selected by Altegris Advisors to gain the exposure to the managed futures managers, sub strategies and programs as listed in the table are subject to change at any time, and any such change may alter the Fund’s access and percentage exposures to each such manager, sub-strategy and program. Although the Fund currently pursues its managed futures strategy by investing up to 25% of its total assets in a wholly-owned subsidiary, the Fund may also make managed futures investments directly, outside of such subsidiary.

2. As a percentage of the Fund’s managed futures strategy allocation. The Fund’s holdings of cash, cash equivalents and fixed income securities pursuant to its fixed income strategy are excluded from percentage exposures listed in the table.

3. Managers report Program Performance information in accordance with applicable NFA and CFTC Regulations. None of the Managers identified above take any responsibility for the accuracy or completeness of the contents of the Program Performance information reported (except as otherwise may be stated), for any representations made herein, or for the performance of the Fund. Each Manager disclaims any liability for any direct, indirect, consequential or other losses or damages, including loss of profits, incurred directly or indirectly by any person that may arise from any reliance on the Program Performance or any other information about the Manager accessible from this site.

Other Important Information

Of course, there is no guarantee that any investment will achieve its objectives, generate profits or avoid losses. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

1192-NLD-5/19/2017

Reasons to Invest

  • Multi-manager managed futures portfolio with the potential for absolute returns in rising and falling markets.
  • Ability to gain global exposure to four major asset classes: stocks, bonds, currencies and commodities.
  • Low to negative historical correlation to traditional markets, providing potential for increased portfolio diversification.
  • Access to diversified managed futures managers with a history of trading through multiple market cycles.
  • Experienced portfolio management team.
  • Ability to hire and fire managers.
  • Methodical manager selection, coupled with rigorous ongoing due diligence.

There is no guarantee that any investment will achieve its objectives, generate profits or avoid losses.

See the Glossary for term definitions.

Fund NAV & AUM


Fund Facts

Class A*Class CClass IClass O
SymbolMFTAXMFTCXMFTIXMFTOX
Inception8/26/102/1/118/26/103/13/13
Investment Minimum$2,500$5,000$1,000,000$2,500
Subsequent Investment$250$250$250$250
Gross Expense Ratio1.98%2.73%1.73%1.97%
Net Expense Ratio1.90%2.65%1.65%1.90%
Expense Cap1.90%2.65%1.65%1.90%

The Fund’s adviser has contractually agreed to reduce its fees and reimburse expenses of the Fund until at least October 31, 2017 to ensure the total Fund operating expenses after fee waiver and reimbursement will not exceed 1.90%, 2.65%, 1.65% and 1.90% of average daily net assets attributable to Class A, Class C, Class I and Class O shares, respectively. This agreement may be terminated only by the Fund’s Board of Trustees, on 60 days written notice to the adviser.

*The maximum sales charge for Class A shares is 5.75%. Class A share investors may be eligible for a reduction in sales charges. See Prospectus for more information.

1128-NLD-4/10/2017

Historical Returns & NAV

*The maximum sales charge for Class A shares is 5.75%. Class A share investors may be eligible for a reduction in sales charges. See Prospectus for more information.

(1) Represents the percentage increase/decrease in the net asset value from the prior trading day. For Class A with load, represents the percentage increase/decrease of the net asset value from the prior trading day's maximum offering price.

(2) Performance for periods longer than one year is annualized.

(3) Inception date for Class A and Class I was August 26, 2010. Inception date for Class C was February 1, 2011. Inception date for Class O was March 13, 2013

The total annual fund operating expense ratio, gross of any fee waivers or expense reimbursements, is 1.98% for Class A, 2.73% for Class C, 1.73% for Class I and 1.97% for Class O.

The performance data quoted here represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The Fund's adviser has contractually agreed to reduce its fees and reimburse expenses of the Fund until at least October 31, 2017, to ensure the total annual Fund operating expenses after fee waiver and reimbursement will not exceed 1.90%, 2.65%, 1.65%, and 1.90% of average daily net assets attributable to Class A, Class C, Class I, and Class O shares, respectively, subject to possible recoupment in future years. Results shown reflect the waiver, without which the results would have been lower. A Fund's performance, especially for very short periods of time, should not be the sole factor in making your investment decisions. For performance information current to the most recent month end, please call (888) 524-9441.

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The Fund seeks to achieve positive absolute returns in rising and falling equity markets while experiencing less volatility than major equity market indices. To achieve its objectives, the Fund utilizes two principal strategies—managed futures and fixed income.

Managed futures strategy — Designed to capture returns related to trends in the commodity and financial futures markets by investing in a combination of securities, futures, options, forwards, spot contracts, swaps, structured notes or other securities or derivatives (i.e., managed futures investments) whose returns are derived from managed futures strategies.

Utilizes investment adviser asset allocation and investment skill to allocate between two primary managed futures substrategies—trend following and specialized. Within the exposure to various managed futures sub-strategies and programs accessed by the Fund’s managed futures investments portfolio, allocations will vary between ~60%-100% for trend following and ~0%-40% for specialized sub-strategies.

Fixed income strategy — Designed to generate interest income and capital appreciation by investing in a variety of investment grade fixed income securities, which the Fund defines as those that are rated, at the time of purchase, in the top four categories by a rating agency such as Moody's Investors Service, Inc. or Standard & Poor's Ratings Group, or if unrated, determined to be of comparable quality. The fixed income strategy portfolio will maintain an average maturity that ranges between short-term (less than 1 year) and intermediate-term (4-7 years).

Investment adviser

Altegris Advisors, L.L.C.
Investment Adviser Portfolio Managers

Managed Futures sub-advisers

Centurion Investment Management
Crabel Capital Management
GSA Capital Partners LLP
Millburn Ridgefield Corporation
PhaseCapital LP
QMS Capital Management LP
ThreeRock Capital Management Ltd

Fixed Income Investment sub-adviser

J.P. Morgan Investment Management Inc.

Other Important Information

Of course, there is no guarantee that any investment will achieve its objectives, generate profits or avoid losses. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.

1192-NLD-5/19/2017

Altegris Managed Futures Strategy Fund

Fund documents
Monthly Performance Update
Quarterly Fact Sheet
Quarterly Fund Commentary
Summary Prospectus
Prospectus
SAI
Annual Report
Semi-Annual Report (SAR)
XBRL
Forms & applications
Regular Application
IRA Application
Simple IRA Application
IRA Transfer of Assets
IRA Custodial Agreement/Disclosure Statement
Roth IRA Custodial Agreement/Disclosure Statement
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Dividends [Schedule: Annually]

Record Date Ex‑Date Payable Date Reinvestment
Price (NAV)
Dividend
per Share
12/21/2016 12/22/2016 12/22/2016 $8.47 $0.6533
12/14/2015 12/15/2015 12/15/2015 $8.97 $0.8374
12/28/2010 12/29/2010 12/29/2010 $10.44 $0.0347


Capital Gains [Schedule: Annually]

Record Date Ex‑Date Payable Date Reinvestment
Price (NAV)
Short‑Term Long‑Term
12/28/2010 12/29/2010 12/29/2010 $10.44 $0.0004 N/A

Fund distributions will vary depending upon market conditions and number of shares outstanding. All dates and distributions are subject to board approval. Past distributions are no guarantee of future distributions or performance results.

This information is not intended to cover the complexities of a shareholder's individual tax situation. Because tax laws vary among states, you should consult your tax advisor about the specific rules in the state(s) in which you pay income taxes.

Performance quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than performance data shown. Investment return and principal will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month end, please call (888) 524-9441.

Record date is the date by which a shareholder must own fund shares to receive the distribution. Ex-date is the date on which a shareholder who purchases fund shares will not be eligible to receive the distribution. Payable date is the date on which a shareholder is paid the distribution.

1128-NLD-4/10/2017