Investment Advisor
Catalyst Capital, LLC
Portfolio Managers
David Miller | Chief Investment Officer and Senior Portfolio Manager
Charles Ashley – Portfolio Manager of the Advisor
Fund Objective
The Fund’s objective is to seek total return from long-term capital appreciation and current income.
Reasons to Invest
The Catalyst Tactical Allocation Fund uses a proprietary model that seeks to remain fully invested in equities continuously during bull market conditions, and to shift defensive only during sustained periods of heightened equity market risk.
Greater Upside Capture Potential
The Fund maximizes time spent in the market by holding a full equity allocation for multi-year periods during bull markets.
Seeks Reduced Downside in Bear Markets
The Advisor targets a tactical shift in asset allocation to fixed income securities (generally, short/intermediate-term U.Z. Treasury bills and notes with one to ten tears to maturity at the time of issuance.
Hedging Against Short-Term Risk
Asset allocation between stocks and bond is typically determined monthly based on the risk model’s binary output and may persist for multi-year periods.
Alpha Potential
The Advisor’s proprietary ranking model is based on fundamental criteria and has no style or other factor mandate, granting flexibility to find optimal opportunities within the investment universe..
Fund Management
Fund Overview
| Ticker | CLTIX | CLTAX | CLTCX | CLTAX |
| Share Class | Class I | Class A | Class C | Class A w/ Sales Load |
| CUSIP | 62827M524 | 62827L211 | 62827L195 | 62827L211 |
| Inception Date | 2014-06-06T00:00:00 | 2012-07-02T00:00:00 | 2012-07-02T00:00:00 | 2012-07-02T00:00:00 |
| As of Date | 2026-06-18T00:00:00 | 2026-06-18T00:00:00 | 2026-06-18T00:00:00 | 2026-06-18T00:00:00 |
| Daily NAV | 17.96 | 17.84 | 16.66 | 18.93 |
| NAV Change | 0.21 | 0.21 | 0.2 | 0.22 |
| % NAV Change | 1.18 | 1.19 | 1.21 | -4.65 |
| YTD Return | 12.67 | 12.56 | 12.19 | 6.06 |
| Distribution Frequency | Annually | Annually | Annually | Annually |
Current Fund Performance
As of: 2026-06-18T00:00:00
Annualized if greater than a year
Annualized if greater than a year
| Share Class | 1 Month | 3 Months | 6 Months | YTD | 1 Year | 3 Years Annualized | 5 Years Annualized | 10 Years Annualized | Since Inception Annualized |
| Class A | 3.42 | 11.43 | 12.84 | 12.56 | 26.55 | 13.02 | 4.09 | 7.93 | 9.14 |
| Class C | 3.41 | 11.29 | 12.42 | 12.19 | 25.63 | 12.2 | 3.32 | 7.13 | 8.33 |
| Class I | 3.46 | 11.48 | 12.96 | 12.67 | 26.93 | 13.32 | 4.35 | 8.2 | 7.07 |
| Class A w/Sales Charge | -2.51 | 5 | 6.38 | 6.06 | 19.25 | 10.81 | 2.86 | 7.3 | 8.68 |
Quarterly Fund Performance
Data as of quarter end: 2026-03-31T00:00:00
Annualized if greater than a year
Annualized if greater than a year
| Share Class | 1 Month | 3 Months | 6 Months | YTD | 1 Year | 3 Years Annualized | 5 Years Annualized | 10 Years Annualized | Since Inception Annualized |
| Class A | -7.07 | -2.21 | -0.45 | -2.21 | 14.99 | 8.19 | 1.52 | 6.03 | 8.18 |
| Class C | -7.17 | -2.42 | -0.81 | -2.42 | 14.16 | 7.37 | 0.76 | 5.23 | 7.38 |
| Class I | -7.03 | -2.13 | -0.26 | -2.13 | 15.36 | 8.49 | 1.78 | 6.3 | 5.94 |
| Class A w/Sales Charge | -12.43 | -7.85 | -6.2 | -7.85 | 8.41 | 6.07 | 0.33 | 5.41 | 7.71 |
The Fund’s maximum sales charge for Class “A” shares is 5.75%. Investments in mutual funds involve risks. Performance is historic and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain the most recent month end performance information or the Fund’s prospectus please call the Fund, toll free at 1-866-447-4228. You can also obtain a prospectus at www.CatalystMF.com.
Fund Expenses
| Share Class | Class I | Class A | Class C | Class A w/ Sales Charge |
|---|---|---|---|---|
| Prospectus Gross Expense Ratio (11/1/2025) | 2.03% | 2.32% | 3.06% | 2.32% |
| Prospectus Net Expense Ratio (11/1/2025) | 1.28% | 1.53% | 2.28% | 1.53% |
| Annual Report Net Expense Ratio (6/30/2025)* | 1.33% | 1.59% | 2.34% | 1.59% |
*The annual report presents the audited actual expenses of the fund for the fiscal year. It excludes the impact of certain items that are listed as prospectus expenses, such as acquired fund fees and expenses.
The advisor has contractually agreed to waive advisory fees and/or reimburse expenses of the Fund to the extent necessary to limit total annual fund operating expenses (excluding brokerage costs; borrowing costs such as (a) interest and (b) dividends on securities sold short; taxes; underlying fund expenses; and extraordinary expenses, such as regulatory inquiry and litigation expenses) at 1.53%. 2.28% and 1.28% for Class A shares, Class C shares and Class I shares, respectively, for all share classes through October 31, 2026.
Disclosures
There is no assurance that the Fund will achieve its investment objective.
Investing in the Fund carries certain risks. The value of the Fund may decrease in response to the activities and financial prospects of an individual security in the Fund’s portfolio. The Fund is 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. Interest rate risk is the risk that bond prices overall, including the prices of securities held by the Fund, will decline over short or even long periods of time due to rising interest rates. These factors may affect the value of your investment.
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