Catalyst/Warrington Strategic Program Fund
Tickers: CWXAX | CWXCX | CWXIX
Fund Objective
The Fund seeks to achieve its investment objective by buying and selling short-term options and option spreads on the Standard & Poor’s 500 Index (“S&P”) futures and holding cash and cash equivalents, including treasury securities and money market mutual funds.
Reasons to Invest
The Catalyst/Warrington Strategic Program Fund trades options on the S&P 500 Index Futures and targets a wide range of directional profitability trades by buying near-the-money strikes and selling deep out-of-the-money strikes.
Proven Manager
Warrington Asset Management has a track record of only two down years in 22 among their strategies, winning the Pinnacle Award in 2017 & 2019 for the best five-year option strategy.
Absolute Return
The Fund invests primarily in long and short call and put options on U.S. Stock Index Futures contracts. It is managed as an absolute return strategy.
Options
The Fund seeks to achieve its investment objective by buying and selling options and option spreads on stock index futures. By trading options and options spreads, the Fund seeks to profit in three ways: (1) volatility trading, (2) trend following and (3) option spread trading.
Stock Index Futures
The Fund may invest long or short in stock index futures as part of its hedging strategy. The Fund may also use stock index futures as part of an option closing transaction. For example, rather than close an option transaction by selling a long put, the Fund may use a long futures position to deliver against the option.
Fund Management
Investment Advisor:
Catalyst Capital Advisors LLC
Sub-Advisor:
Warrington Asset Management, LLC
Senior Portfolio Manager:
Scott Kimple
- Founder of Warrington Asset Management, LLC.
- B.B.A in Finance from Southern Methodist University; MBA in Finance and Derivative Securities from SMU’s Cox School of Business.
Assistant Portfolio Manager:
Mark W. Adams
- Founder of Warrington Asset Management, LLC.
- B.B.A in Finance, Management, and International Business from Washington University in St. Louis; MBA from SMU’s Cox School of Business.
Fund Overview
| Ticker | CWXIX | CWXAX | CWXCX | CWXAX |
| Share Class | Class I | Class A | Class C | Class A w/ Sales Load |
| CUSIP | 62827P246 | 62827P220 | 62827P238 | 62827P220 |
| Inception Date | 2013-08-30T00:00:00 | 2005-12-15T00:00:00 | 2013-08-30T00:00:00 | 2005-12-15T00:00:00 |
| As of Date | 2024-12-20T00:00:00 | 2024-12-20T00:00:00 | 2024-12-20T00:00:00 | 2024-12-20T00:00:00 |
| Daily NAV | 9.27 | 9.06 | 8.49 | 9.06 |
| NAV Change | 0.01 | 0.01 | 0 | 0.01 |
| % NAV Change | 0.11% | 0.11% | 0.00% | 0.11% |
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 | 0.21% | 1.28% | 2.60% | 2.49% | 3.24% | 5.23% | 3.97% | -0.03% | 0.82% |
| Class A | 0.22% | 1.20% | 2.44% | 2.21% | 2.93% | 4.94% | 3.68% | -0.28% | 7.99% |
| Class C | 0.12% | 1.05% | 2.01% | 1.65% | 2.25% | 4.19% | 2.93% | -1.02% | -0.17% |
| Class A w/Sales Load | -5.52% | -4.64% | -3.44% | -3.65% | -2.97% | 2.87% | 2.46% | -0.87% | 7.66% |
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.
Current Fund Performance
Data as of: 2024-12-20T00:00:00
| 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 | 0.77% | 0.77% | 2.07% | 3.28% | 3.39% | 4.42% | 5.18% | 0.74% | 0.87% |
| Class A | 0.74% | 0.74% | 1.96% | 2.97% | 3.20% | 4.14% | 4.90% | 0.48% | 7.94% |
| Class C | 0.64% | 0.52% | 1.58% | 2.18% | 2.30% | 3.39% | 4.12% | -0.27% | -0.12% |
| Class A w/Sales Load | -5.01% | -5.01% | -3.93% | -2.93% | -2.73% | 2.11% | 3.68% | -0.11% | [table “7” does not have that cell /] |
Does not include pre-converted performance.
Fund Expenses
| Share Class | Class I | Class A | Class C | Class A w/ Sales Load | |
| Prospectus Gross Expense Ratio (11/1/2024) | 2.12% | 2.37% | 3.12% | 2.37% | |
|
2.04% | 2.29% | 3.04% | 2.29% | |
| Annual Report Net Expense Ratio (6/30/2024)* | 2.05% | 2.30% | 3.05% | 2.30% |
* 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 2.24%, 2.99% and 1.99% for Class A shares, Class C shares and Class I shares, respectively, through October 31, 2025.
Past performance is not a guarantee of future results.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Catalyst Funds. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 866-447-4228 or at www.CatalystMF.com. The prospectus should be read carefully before investing. The Catalyst Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Catalyst Capital Advisors, LLC is not affiliated with Northern Lights Distributors, LLC.
Mutual Funds involve risk including possible loss of principal. The Fund will invest a percentage of its assets in derivatives, such as futures and options contracts. The use of such derivatives and the resulting high portfolio turn-over may expose the Fund to additional risks that it would not be subject to if it invested directly in the securities and commodities underlying those derivatives. The Fund may experience losses that exceed those experienced by funds that do not use futures contracts, options and hedging strategies. Changes in interest rates and the liquidity of certain investments could affect the Fund’s overall performance. Other risks include U.S. Government securities risks and investments in fixed income securities. Typically, a rise in interest rates causes a decline in the value of fixed income securities or derivatives owned by the Fund. Furthermore, the use of leveraging can magnify the potential for gain or loss and amplify the effects of market volatility on the Fund’s share price. The Fund is subject to regulatory change and tax risks; changes to current rules could increase costs associated with an investment in the Fund.
The Fund acquired all of the assets and liabilities of Harbor Assets, LLC (the “Predecessor Fund”) in a tax-free reorganization on August 30, 2013 (the “Reorganization”). In connection with the Reorganization, shares of the Predecessor Fund were exchanged for Class A shares of the Fund. At the time of the Reorganization, the Fund’s investment objectives, policies and guidelines were, in all material respects, equivalent to the Predecessor Fund’s investment objectives, policies and guidelines. The Fund’s current objectives, policies and guidelines are no longer equivalent to those of the Predecessor Fund and consequently the performance record may be less pertinent for investors considering whether to purchase shares of the Fund. Prior to January 28, 2020, the Fund was not managed by the Fund’s Sub-Advisor and prior to April 5, 2020, the Fund had different investment strategies and policies. The Fund’s performance may have been different if the Fund’s portfolio was managed by the current Sub-Advisor and managed under the current investment objective, strategies and policies.
4325-NLD-4/2/2020
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