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Invest in an Altegris Mutual Fund

Altegris Multi-Strategy Alternative Fund

A flexible, all-encompassing alternatives mutual fund that accesses experienced managers across multiple hedge fund strategies in a single fund.

Lara's bio resized by Christa
Lara Magnusen, CAIA
Portfolio Strategist and Portfolio Manager
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Antolin Garza
Portfolio Manager and Senior Research Analyst
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Edgardo Goldaracena, CFA
Portfolio Manager and Senior Research Analyst
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The Altegris Multi-Strategy Alternative Fund seeks to achieve long-term capital appreciation and absolute returns by following a flexible allocation strategy that invests across broad alternative investment strategies.

Target Alternative Strategy Allocations

(as of 12/31/2016)1
Strategy Allocation2

Alternative Fixed Income

35.0%

Macro

35.0%

Alternative Equity

30.0%

Alternative equity is comprised of long/short equity and long/short real estate strategies; alternative fixed income is comprised of long/short fixed income strategies; macro is comprised of global macro and managed futures strategies.

1. The target allocations are subject to change at any time, and may not be representative of the Fund's past or future access and exposure to alternative investment strategies or programs. It should not be considered a recommendation or investment advice.

2. As a percentage of the Fund’s alternative investment strategy allocation.

Other Important Information

There is no guarantee that any investment will achieve its objectives, generate profits or avoid losses. Past performance is not indicative of future results.

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Reasons to Invest

  • Turnkey solution for a diversified alternative investment allocation
  • Potential to generate returns across various market environments
  • Experienced portfolio management team, with a research-driven strategic and
    tactical asset allocation process
  • Multi-strategy and multi-manager approach derived from 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 IClass N
SymbolMULAXMULIXMULNX
Inception2/28/132/28/132/28/13
Investment Minimum$2,500$1,000,000$2,500
Subsequent Investment$250$250$250
Gross Expense Ratio3.50%3.25%3.50%
Net Expense Ratio3.47%3.22%3.47%
Expense Cap0.85%0.60%0.85%

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

The Fund's adviser has contractually agreed to reduce its fees and to reimburse expenses, at least until December 31, 2017, to ensure that total annual Fund operating expenses after fee waiver and/or reimbursement will not exceed 0.85%, 0.60%, and 0.85% of average daily net assets attributable to Class A, Class I, and Class N shares, respectively. This agreement may be terminated only by the Fund's Board of Trustees, on 60 days written notice to the Adviser.

The Fund is new and has a limited history of operations. Therefore, limited performance information is presented for the Fund at this time.

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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.

(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 are annualized.

(3) Inception date for Class A, Class I and Class N was February 28, 2013.

The total annual fund operating expense ratio is 3.50% for Class A, 3.25% for Class I and 3.50% for Class N.

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 to reimburse expenses, at least until December 31, 2017, to ensure that total annual Fund operating expenses after fee waiver and/or reimbursement will not exceed 0.85%, 0.60%, and 0.85% of average daily net assets attributable to Class A, Class I, and Class N 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 when making you investment decisions. For performance information current to the most recent month end, please call (888) 524-9441.

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The Altegris Multi-Strategy Alternative Fund seeks long-term capital appreciation and absolute returns. The Fund seeks to achieve its investment objective by following a flexible allocation strategy that invests across broad alternative investment strategies and asset classes, including but not limited to, alternative equity, alternative fixed income and macro strategies.

  • Alternative equity – may be invested in long or short positions in equity securities of domestic or foreign companies (including those located in emerging market countries) of any capitalization and in any style (from growth to value).
  • Alternative fixed income – may be invested in long or short positions in a wide variety of domestic and foreign (including emerging markets) fixed income securities of any credit quality or maturity.
  • Macro – inclusive of traditional global macro strategies as well as managed futures, may be invested in long or short positions across four major asset classes (stocks, bonds, currencies, commodities) in multiple global markets by using discretionary or systematic approaches.

Investment Adviser

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

Other Important Information

There is no guarantee that any investment will achieve its objectives, generate profits or avoid losses. Past performance is not indicative of future results.

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Altegris Multi-Strategy Alternative Fund

Fund Documents
Quarterly Fact Sheet
Quarterly Fund Commentary
Summary Prospectus
Prospectus
SAI
Annual Report
Semi-Annual Report
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
12/22/2016 12/23/2016 12/23/2016 $8.79 $0.2800
12/15/2015 12/16/2015 12/16/2015 $9.55 $0.3124
12/15/2014 12/16/2014 12/16/2014 $10.00 $0.1595
12/12/2013 12/13/2013 12/16/2013 $9.78 $0.1860


Capital Gains [Schedule: Annually]

Record Date Ex‑Date Payable Date Reinvestment
Price (NAV)
Short‑Term Long‑Term
12/15/2015 12/16/2015 12/16/2015 $9.55 $0.0191 $0.2623
12/12/2013 12/13/2013 12/16/2013 $9.78 $0.0148 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.

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