Catalyst/Warrington Strategic Program Fund

Tickers: CWXAX | CWXCX | CWXIX

Fund Objective

The Fund’s objective is long-term capital appreciation.

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, market neutral 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 Advisors

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 2020-06-03T00:00:00 2020-06-03T00:00:00 2020-06-03T00:00:00 2020-06-03T00:00:00
Daily NAV 7.72 7.58 7.19 7.58
NAV Change 0.01 0.00 0.01 0.00
% NAV Change 0.13% 0.00% 0.14% 0.00%

Quarterly Fund Performance

Data as of quarter end: 2020-03-31T00:00:00

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 2.26% 1.45% -3.52% 1.45% -4.83% -4.03% -4.20% N/A -2.10%
Class A 2.17% 1.34% -3.70% 1.34% -5.15% -4.32% -4.44% 1.70% 8.96%
Class C 2.14% 1.27% -4.02% 1.27% -5.78% -5.03% -5.15% N/A -3.06%
Class A w/Sales Load -3.70% -4.43% -9.25% -4.43% -10.65% -6.21% -5.57% 1.10% 8.52%

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: 2020-06-03T00:00:00

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 0.65% 3.07% -1.53% 1.98% -5.28% -3.38% -4.49% N/A -1.97%
Class A 0.53% 2.99% -1.69% 1.74% -5.60% -3.67% -4.75% 1.64% 8.88%
Class C 0.42% 2.71% -2.04% 1.55% -6.26% -4.40% -5.45% N/A -2.94%
Class A w/Sales Load -5.25% -2.94% -7.33% -4.05% -11.03% -5.56% -5.87% 1.03% 2.49%

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 (11/1/2019) 2.35% 2.60% 3.35% 2.60%
Prospectus Net Expense Ratio (11/1/2019) 2.35% 2.60% 3.35% 2.60%
Annual Report Net Expense Ratio (6/30/2019)* 2.08% 2.33% 3.08% 2.33%

* 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.

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.

Performance shown before September 2013 is for the Fund's predecessor limited liability company (Harbor Assets, LLC). The prior performance is net of management fees and other expenses including the effect of the performance fee. The Fund has been managed in the same style and by the same portfolio manager since the predecessor limited liability company's inception on December 15, 2005. The Fund's investment goals, policies, guidelines and restrictions are, in all material respects, equivalent to the predecessor limited liability company's investment goals, policies, guidelines and restrictions. From its inception on December 15, 2005 through the date of this prospectus, the predecessor limited liability company was not subject to certain investment restrictions, diversification requirements and other restrictions of the 1940 Act of the Code, which if they had been applicable, might have adversely affected its performance. In addition, the predecessor limited partnership was not subject to sales loads that would have adversely affected performance. Performance of the predecessor fund is not an indicator of future results.

4325-NLD-4/2/2020

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