Asset Rotation Fund

September 30, 2015

Class A: ROTAX | Class C: ROTCX | Class I: ROTIX

INVESTMENT OPPORTUNITY
The Asset Rotation Fund seeks to offer investors an opportunity to generate superior risk-adjusted returns with limited drawdown
relative to equities by tactically investing in the asset classes experiencing the most strength.

PRIMARY GOALS AND KEY REASONS TO INVEST FUND STATISTICS

Tactical and Flexible: The Fund seeks to allocate to the global asset class exchange traded funds ROTAX S&P 500
(ETFs) experiencing the most strength each month. The goal is to generate superior risk-adjusted Alpha N/A N/A
returns in any economic environment. Beta N/A N/A
Seeks Downside Protection: If the proprietary screens used to rank the strength of each asset R-Squared N/A N/A
class demonstrate weakness in equities, the Fund may invest only in U.S. Treasury Bond ETFs Sharpe Ratio N/A N/A
and/or cash, potentially limiting equity market drawdowns. Statistics since Fund inception vs. S&P 500 TR
Index.
Disciplined Strategy: We use a proprietary, rules-based approach to select the global asset class
ETFs demonstrating the most strength.
OBJECTIVE
ASSET ROTATION FUND APPROACH To achieve long-term capital
Dual Momentum Strategy: The mechanics behind the Portfolio Selection: Use three different appreciation with less overall risk than
proprietary ranking formulas. proprietary formulas, all based on dual the equity market by implementing a
1. Relative Momentum: Rank all potential equity momentum, to select ETFs. disciplined, rules-based investment
ETFs against each other. - Based on outcome of formulas, the portfolio will process tactically focusing on global
2. Absolute Momentum: Rank each equity ETF hold between 1 and 3 ETFs. asset class ETFs experiencing the
against the risk-free asset (U.S. Treasury Bond and - If all formulas select same ETF, the Portfolio greatest strength.
cash). will only hold that ETF.

Growth of $10,000 INVESTMENT STRATEGY

$11,500 The Fund invests in a portfolio of global
asset class ETFs. The ETFs that may be
$11,000 held in the portfolio include those that
invest in U.S. equities of any market
$10,500
capitalization, foreign (including
$10,000 emerging markets) equities of any
market capitalization, U.S. Treasury
$9,500 securities or cash. ETFs are ranked each
07-2014 09-2014 11-2014 01-2015 03-2015 05-2015 07-2015 09-2015
month according to a relative strength
ROTAX S&P 500 TR Index score using three different proprietary
formulas. The top ranked ETF from each
Performance: Ending September 30, 2015 (not annualized if less than 1 year) formula is purchased and held until it
Share Class QTD YTD 1 Year Since Inception* falls out of ranking. It is then replaced
Class I 1.46% -7.23% -1.11% -1.71% with the new top-ranked ETF. The
Class A 1.35% -7.51% -1.38% -1.94% Portfolio will include between 1 and 3
Class C 1.15% -7.89% -1.86% -2.35% ETFs, depending on the results of each
proprietary selection formula.
S&P 500 TR Index -6.44% -5.29% -0.61% 1.63%
Class A with Sales Charge -4.51% -12.81% -7.01% -6.79%
* Inception: 07/31/2014
There is no assurance that the Fund will
The Funds maximum sales charge for Class A shares is 5.75%. Investments in mutual funds achieve its investment objective. You cannot
involve risks. Performance is historic and does not guarantee future results. Investment return invest directly in an index and unmanaged
and principal value will fluctuate with changing market conditions so that when redeemed, shares index returns do not reflect any fees,
may be worth more or less than their original cost. Current performance may be lower or higher expenses or sales charges.
than the performance data quoted. To obtain the most recent month end performance information
Share Class Ticker CUSIP
or the funds prospectus please call the fund, toll free at 844-ACFUNDS (844-223-8637). You can
Class A ROTAX 62827M623
also obtain a prospectus at www.AlphaCentricFunds.com.
Class C ROTCX 62827M615
Class I ROTIX 62827M599

www.AlphaCentricFunds.com 844-ACFUNDS (844-223-8637)

 Asset Rotation Fund
September 30, 2015
Class A: ROTAX | Class C: ROTCX | Class I: ROTIX

HOW WE ARE DIFFERENT FUND MANAGEMENT

The Asset Rotation Fund's strategy was born from a frustration with the mediocre performance and poor Investment Advisor
protection from severe market declines coming from the traditional modern portfolio theory and strategic AlphaCentric Advisors LLC
allocation models. We believe the Fund offers a number of distinct advantages both in terms of the underlying
Investment Sub-Advisor
strategy and portfolio structure:
Keystone Wealth Advisors, LLC
Strategy: Portfolio Structure:
Invests in the highest strength assets Tactical and flexible - ability to move from Portfolio Managers
Emotionless, rules-based, disciplined approach 100% equity to 100% Treasury Bonds or cash Gordon Nelson, CPA, CFP
Seeks superior risk-adjusted returns Ability to concentrate assets Chief Investment Strategist and
Based on extensive, independent academic research No shorting or leverage used portfolio manager since 2003
Seeks to protect from large drawdowns Portfolio manager of Asset Rotation
Fund since inception
PORTFOLIO HOLDINGS: Global Asset Class ETF
iShares Barclays 20+ Year Treasury 97.75% Tyler Vanderbeek, CFP
Cash 2.25% Portfolio manager since 2007
Holdings are subject to change and should not be considered investment advice Portfolio manager of Asset Rotation
Fund since inception

Glossary & Risk Considerations:

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. Beta: A measure of a fund's sensitivity to market movements. R-squared: A INVESTMENT INFORMATION
measure of the relationship between a portfolio and its benchmark. Sharpe Ratio: A risk-adjusted measure of a Class A Ticker: ROTAX
fund's performance that indicates a fund's return per unit of risk, defining risk as volatility (standard deviation). Class C Ticker: ROTCX
Standard Deviation (Volatility): A risk metric that measures the volatility of a fund's excess returns over its
Class I Ticker: ROTIX
benchmark; measures volatility of both positive and negative excess returns. S&P 500 Total Return Index is
Inception:
used to represent the U.S. large-cap stock market.
Class A July 31, 2014
Investors should carefully consider the investment objectives, risks, charges and expenses of Class C July 31, 2014
Class I July 31, 2014
the AlphaCentric Funds. This and other important information about the Fund is contained in
Benchmark: S&P 500 TR Index
the prospectus, which can be obtained by calling 844-ACFUNDS (844-223-8637) or at
Minimum Investment
www.AlphaCentricFunds.com. The prospectus should be read carefully before investing. The
Initial: $2,500
AlphaCentric Funds are distributed by Northern Lights Distributors, LLC, member FINRA.
Subsequent: $50
AlphaCentric Advisors LLC is not affiliated with Northern Lights Distributors, LLC.
Net Expenses:*
Class A 1.49%
Investing in the Fund carries certain risks. The value of the Fund may decrease in response to the
Class C 2.24%
activities and financial prospects of an individual security in the Funds portfolio. The Fund is
Class I 1.24%
non-diversified and may invest a greater percentage of its assets in a particular issue and may
own fewer securities than other mutual funds. The performance of the Fund may be subject to
substantial short term changes. Because the Fund may invest in other investment companies such
as ETFs, the value of your investment will fluctuate in response to the performance of the
acquired funds. Investing in acquired funds involves certain additional expenses and certain tax
results that would not arise if you invested directly in the securities of the acquired funds.
Foreign companies are generally not subject to the same regulatory requirements of U.S. * The advisor has contractually agreed to
companies thereby resulting in less publicly available information about these companies. waive fees and/or reimburse expenses to
Foreign accounting, auditing and financial reporting standards generally differ from those maintain the Funds total annual operating
applicable to U.S. companies. Investing in emerging markets involves additional risks, including expense ratio at 1.24% excluding 12b-1 fees
exposure to economic structures that are generally less diverse and mature, and to political through July 31, 2016. Gross expense are
systems that can be expected to have less stability than those of developed countries. When the 1.98%, 2.73% and 1.73% for Class A, C and I
Fund invests in fixed income securities (U.S. Treasuries), the value of your investment in the Fund shares, respectively.
will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in
the value of fixed income securities owned by the Fund. These factors may affect the value of your
investment. 4659-NLD-10/7/2015

www.AlphaCentricFunds.com 844-ACFUNDS (844-223-8637)