Catalyst/SMH High Income Fund
Tickers: HIIFX | HIICX | HIIIX
Fund Objective
The Fund’s investment objective is income with capital appreciation as a secondary objective.
Reasons to Invest
The Catalyst/SMH High Income Fund is an investment option for those seeking high current income driven by a disciplined, bottom-up approach.
Current Income
With investment options in non-investment grade corporate bonds, convertible securities and asset-backed securities, the portfolio is developed with the objective to provide high current income.
Focused Portfolio
The Fund uses a strict value-type discipline with a primary focus on the balance sheet of the business. The goal is to purchase securities that are the best relative value while avoiding overpriced securities and markets.
Risk Management
The investment process focuses on reducing credit and market risk while ensuring adequate return given the level of risk. Securities will not be added unless there are tangible assets to cover our cost in the bonds.
Portfolio Manager Insights
Fund Management
Investment Advisor:
Catalyst Capital Advisors LLC
Investment Sub-Advisor:
SMH Capital Advisors, LLC
Portfolio Managers:
Dwayne Moyers | President and CIO
Fund Overview
| Ticker | HIIIX | HIIFX | HIICX | HIIFX |
| Share Class | Class I | Class A | Class C | Class A w/ Sales Load |
| CUSIP | 62827M847 | 62827L609 | 62827L708 | 62827L609 |
| Inception Date | 2013-07-01T00:00:00 | 2008-05-21T00:00:00 | 2008-05-21T00:00:00 | 2008-05-21T00:00:00 |
| As of Date | 2024-12-02T00:00:00 | 2024-12-02T00:00:00 | 2024-12-02T00:00:00 | 2024-12-02T00:00:00 |
| Daily NAV | 3.77 | 3.77 | 3.78 | 3.77 |
| NAV Change | 0 | 0 | 0 | 0 |
| % NAV Change | 0.00% | 0.00% | 0.00% | 0.00% |
Current Fund Performance
Data as of: 2024-12-02T00:00:00
| Share Class | 1 Month | 3 Months | 6 Months | YTD | 1 Year | 3 Years Annualized | 5 Years Annualized | 10 Years Annualized | Since Inception Annualized |
| Class I | 2.65% | 3.93% | 7.93% | 10.37% | 14.52% | 4.26% | 6.21% | 3.96% | 2.64% |
| Class A | 2.63% | 4.15% | 8.10% | 10.13% | 14.24% | 4.00% | 5.94% | 3.70% | 3.67% |
| Class C | 2.56% | 3.94% | 7.67% | 9.35% | 13.34% | 3.20% | 5.19% | 2.94% | 2.91% |
| Class A w/Sales Load | -2.25% | -0.80% | 2.96% | 4.90% | 8.82% | 2.33% | 4.92% | 3.19% | 3.36% |
Quarterly Fund Performance
Data as of quarter end: 2024-09-30T00:00:00
| Share Class | 1 Month | 3 Months | 6 Months | YTD | 1 Year | 3 Years Annualized | 5 Years Annualized | 10 Years Annualized | Since Inception Annualized |
| Class I | 1.48% | 3.98% | 5.31% | 7.77% | 16.32% | 3.02% | 5.94% | 3.26% | 2.47% |
| Class A | 1.74% | 4.20% | 5.18% | 7.58% | 16.03% | 2.77% | 5.73% | 3.01% | 3.56% |
| Class C | 1.40% | 3.72% | 4.48% | 6.68% | 15.15% | 1.97% | 4.87% | 2.22% | 2.78% |
| Class A w/Sales Load | -3.10% | -0.75% | 0.19% | 2.47% | 10.52% | 1.11% | 4.71% | 2.51% | 3.25% |
The Fund’s maximum sales charge for Class “A” shares is 4.75%. 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 Load |
| Prospectus Gross Expense Ratio (11/1/2024) | 2.14% | 2.39% | 3.14% | 2.39% |
| Prospectus Net Expense Ratio (11/1/2024) | 1.24% | 1.49% | 2.24% | 1.49% |
| Annual Report Net Expense Ratio (6/30/2024)* | 1.23% | 1.48% | 2.23% | 1.48% |
* 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 management 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 1.48%, 2.23% and 1.23% for Class A shares, Class C shares and Class I shares, respectively, through October 31, 2025.
Monthly Distributions
| Ticker | Record Date | Payable Date | Monthly Distribution Amount | Reinvest Price | SEC Yield | Unsubsidized SEC Yield |
|---|---|---|---|---|---|---|
| HIIIX | 10/29/2024 | 10/30/2024 | 0.0216 | 3.7 | ||
| HIIIX | 9/26/2024 | 9/27/2024 | 0.0246 | 3.72 | 6.52% | 5.67% |
| HIIIX | 8/28/2024 | 8/29/2024 | 0.02 | 3.68 | 6.55% | 3.96% |
| HIIIX | 7/29/2024 | 7/30/2024 | 0.0195 | 3.68 | 6.50% | 5.60% |
| HIIIX | 6/26/2024 | 6/27/2024 | 0.0187 | 3.64 | 7.12% | 6.35% |
| HIIIX | 5/29/2024 | 5/30/2024 | 0.023 | 3.59 | 7.44% | 6.72% |
| HIIIX | 4/26/2024 | 4/29/2024 | 0.0242 | 3.61 | 7.75% | 7.00% |
| HIIIX | 3/26/2024 | 3/27/2024 | 0.0218 | 3.65 | 7.18% | 6.35% |
| HIIIX | 2/27/2024 | 2/28/2024 | 0.0169 | 3.6 | 7.00% | 6.16% |
| HIIIX | 1/29/2024 | 1/30/2024 | 0.0154 | 3.62 | 7.06% | 6.12% |
| HIIIX | 12/27/2023 | 12/28/2023 | 0.0326 | 3.64 | 7.20% | 6.20% |
| HIIIX | 11/28/2023 | 11/29/2023 | 0.0227 | 3.52 | 8.06% | 7.07% |
| Ticker | Record Date | Payable Date | Monthly Distribution Amount | Reinvest Price | SEC Yield | Unsubsidized SEC Yield |
|---|---|---|---|---|---|---|
| HIIFX | 10/29/2024 | 10/30/2024 | 0.0208 | 3.7 | ||
| HIIFX | 9/26/2024 | 9/27/2024 | 0.0238 | 3.71 | 5.96% | 5.15% |
| HIIFX | 8/28/2024 | 8/29/2024 | 0.0192 | 3.68 | 5.91% | 3.36% |
| HIIFX | 7/29/2024 | 7/30/2024 | 0.0187 | 3.67 | 5.97% | 5.11% |
| HIIFX | 6/26/2024 | 6/27/2024 | 0.018 | 3.63 | 6.55% | 5.83% |
| HIIFX | 5/29/2024 | 5/30/2024 | 0.0222 | 3.59 | 6.86% | 6.17% |
| HIIFX | 4/26/2024 | 4/29/2024 | 0.0234 | 3.6 | 7.10% | 6.40% |
| HIIFX | 3/26/2024 | 3/27/2024 | 0.0211 | 3.65 | 6.59% | 5.80% |
| HIIFX | 2/27/2024 | 2/28/2024 | 0.0161 | 3.6 | 6.43% | 5.63% |
| HIIFX | 1/29/2024 | 1/30/2024 | 0.0147 | 3.62 | 6.49% | 5.58% |
| HIIFX | 12/27/2023 | 12/28/2023 | 0.0318 | 3.63 | 6.64% | 5.69% |
| HIIFX | 11/28/2023 | 11/29/2023 | 0.0219 | 3.52 | 7.42% | 6.48% |
| Ticker | Record Date | Payable Date | Monthly Distribution Amount | Reinvest Price | SEC Yield | Unsubsidized SEC Yield |
|---|---|---|---|---|---|---|
| HIICX | 10/29/2024 | 10/30/2024 | 0.0182 | 3.71 | ||
| HIICX | 9/26/2024 | 9/27/2024 | 0.0216 | 3.72 | 5.52% | 4.67% |
| HIICX | 8/28/2024 | 8/29/2024 | 0.0167 | 3.69 | 5.53% | 2.94% |
| HIICX | 7/29/2024 | 7/30/2024 | 0.0164 | 3.68 | 5.51% | 4.61% |
| HIICX | 6/26/2024 | 6/27/2024 | 0.0158 | 3.64 | 6.12% | 5.35% |
| HIICX | 5/29/2024 | 5/30/2024 | 0.0197 | 3.6 | 6.44% | 5.72% |
| HIICX | 4/26/2024 | 4/29/2024 | 0.021 | 3.61 | 6.69% | 5.95% |
| HIICX | 3/26/2024 | 3/27/2024 | 0.0191 | 3.66 | 6.16% | 5.34% |
| HIICX | 2/27/2024 | 2/28/2024 | 0.0138 | 3.61 | 6.00% | 5.16% |
| HIICX | 1/29/2024 | 1/30/2024 | 0.0128 | 3.63 | 6.06% | 5.11% |
| HIICX | 12/27/2023 | 12/28/2023 | 0.0292 | 3.64 | 6.22% | 5.22% |
| HIICX | 11/28/2023 | 11/29/2023 | 0.0197 | 3.53 | 7.07% | 6.08% |
SEC Yield: A standardized yield calculation created by the SEC that reflects the net income earned during a 30-day period.
Record Date: The date established for the purpose of determining the holders who are entitled to receive a distribution.
Payable Date: The date the distribution is scheduled to be paid.
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 focuses its investments in the energy infrastructure sector, which may cause the performance of the Fund to be tied closely to developments in the energy sector. The Fund investments may include foreign securities. Foreign companies are not subject to the same regulatory requirements as domestic securities thereby resulting in less publicly available information. Investments in lesser-known, small and medium capitalization companies may be more vulnerable than larger, more established organizations. Investments in MLPs and MLP-related securities involve risks different from those of investing in common stocks. Potential risks include conflicts of interest between an MLP and the MLP’s general partner, cash flow risks, and dilution risks. MLPs and MLP-related securities are generally considered interest-rate sensitive investments. Depending on the state of interest rates in general, the use of MLPs could enhance or harm the overall performance of the Fund. These factors may affect the value of your investment.
4451-NLD-4/2/2019
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