Funds
INVESTMENT STRATEGY
The Fund combines three models provided by W.E. Sherman & Co. into a single fund in an effort to participate in up trending equity markets and seeking to mitigate risk in down trending equity markets. The Pinnacle Sherman Multi-Strategy Core Fund seeks high total return with reasonable risk.
Bull Calendar Model
The Bull-Calendar Model uses the Bull-Bear Model strategy during bull markets and the Calendar Effects Model strategy during bear markets. Bull and bear markets are determined by the Bull-Bear Indicator. The goal of this Model is to be fully invested in equities during bull markets, and only exposed to the relatively few days with the highest probability of profit during bear markets. During bull markets, activity occurs on quarterly intervals. In bear markets, there are 12-14 Calendar Effects trades per year.
Bull Bear Indicator (Long Term Trend Indicator)
Indicator can change at any time
Seven supply-demand ratios measuring internal market Strength
Rebalanced Quarterly
STAR Min Max 0-100 Model
The Simple Trend And Rank (“STAR”) Min/Max Model is a low-activity Model designed for risk-managed outperformance over the long term. The model seeks to be maximally (100%) invested in equities when equities are trending upwards, and minimally (0%) invested in equities when equities are trending downwards. The STAR Min/Max Model portfolio is reallocated quarterly. The trend measurements used by the Model are intermediate to longer-term (months to quarters timeframe). The Model does not use the Shermanator or Bull-Bear Indicator.
Quarterly Trend Indicator
Domestic and International equity trends analyzed
STAR = Simple Trend And Rank
Sector Long Cash Model
The Sector-Long-Cash Model is an intermediate-term Model whose goal is to be invested “long” during intermediate-term uptrends in the U.S. equity market, and in the safety of cash or cash alternatives during intermediate-term downtrends. Activity takes place when a portfolio is established at the inception of each intermediate-term uptrend or downtrend. During an uptrend, activity occurs within the sector component monthly and within the asset class component quarterly.
Intermediate Term Indicator, can change at any time
Constructed from 36 Equity Sub-Sectors
Sector Cash = 50% of Sector Long Cash
Long Cash = 50% of Sector Long Cash
Fund Overview
| Ticker | IPSHX | APSHX | CPSHX | APSHX |
| Share Class | Class I | Class A | Class C | Class A w/ Sales Load |
| CUSIP | 66538G437 | 66538G452 | 66538G445 | 66538G452 |
| Inception Date | 2015-10-01T00:00:00 | 2015-10-01T00:00:00 | 2015-10-01T00:00:00 | 2015-10-01T00:00:00 |
| As of Date | 2020-06-04T00:00:00 | 2020-06-04T00:00:00 | 2020-06-04T00:00:00 | 2020-06-04T00:00:00 |
| Daily NAV | 10.78 | 10.72 | 10.4 | 10.72 |
| NAV Change | -0.09 | -0.09 | -0.09 | -0.09 |
| % NAV Change | -0.83% | -0.83% | -0.86% | -0.83% |
Current Overview
| 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 | 4.26% | -0.28% | 2.13% | -1.10% | 7.91% | 1.83% | N/A | N/A | 4.07% |
| Class A | 4.28% | -0.37% | 1.98% | -1.11% | 7.69% | 1.59% | N/A | N/A | 3.80% |
| Class C | 4.21% | -0.57% | 1.56% | -1.52% | 6.89% | 0.83% | N/A | N/A | 3.02% |
| Class A w/Sales Load | -1.74% | -6.13% | -3.85% | -6.78% | 1.50% | -0.40% | N/A | N/A | 2.49% |
Quarterly Overview
| 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 | -4.47% | -9.82% | -5.08% | -9.82% | -3.33% | -0.42% | N/A | N/A | 2.11% |
| Class A | -4.59% | -9.87% | -5.27% | -9.87% | -3.59% | -0.71% | N/A | N/A | 1.83% |
| Class C | -4.52% | -10.04% | -5.57% | -10.04% | -4.23% | -1.43% | N/A | N/A | 1.09% |
| Class A w/Sales Load | -10.04% | -15.04% | -10.70% | -15.04% | -9.13% | -2.65% | N/A | N/A | 0.50% |
Past Performance does not guarantee future results. The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Past performance is no guarantee of future results. For performance information current to the most recent month end, please call toll-free 1-888-985-9830.
The maximum sales charge for Class A Shares is 5.75%. Class A Share investors may be eligible for a reduction in sales charges. The total annual fund operating expense ratio, gross of any fee waivers or expense reimbursements, are Class A 1.90%, Class C 2.65%, and Class I 1.65%. The net operating expenses are Class A 1.76%, Class C .51%, and Class I 1.51%. The Fund’s investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until July 31, 2019, to ensure that the net annual fund operating expenses, excluding acquired fund fees and expenses, will not exceed Class A 1.49%, Class C 2.24%, and Class I 1.24%, subject to possible recoupment from the Fund in future years. Please review the Fund’s Prospectus for more detail on the expense waiver.
INVESTMENT STRATEGY
The Fund utilizes technology from Trendrating in an attempt to benefit from stocks in a positive trend. The Pinnacle Trendrating Innovative Equity Fund seeks high total return.
Focused on Momentum Dispersion
The stock universe consists of the largest 500 US Domiciled stocks. Using Trendrating’s trend capture analytics, the universe is ranked by momentum and up to the highest ranked 25 stocks are added to the fund. Changes are made monthly, in an attempt to keep the strongest trending stocks in the fund.
The dispersion of performance across stocks provides the opportunity to achieve superior returns if one has state-of-art tools to capture more effectively priced trends. Intelligent trend analytics can complement fundamental driven strategies supporting a better synchronization with key trends, potentially providing improved returns and lower risks. Trendrating is a global leader in cutting edge “trend capture” technology which is used by the world’s leading asset managers and financial advisors. Trendrating makes a very complex task simple and easy, producing measurable results.
Allocation Based On Proprietary Grading
Trendrating’s proprietary model is focused on a high consistency of returns so that the mean return is representative of the distribution of returns. Rankings are determined based on weighting 8 oscillators to determine a grade of either A, B, C, or D. Smart Momentum measures price breadth and momentum since the beginning of a trend, working as the tie-breaker for equally graded securities. By combining the 8 oscillators into a master model, accuracy of identifying trends increased from 58-62% to 65% when in sync and the final result ranging between 71%-83% after self-adjusting to factor volatility.
A – Bull Trend Confirmed
B – Bull Trend Initiated
C – Bear Trend Initiated
D – Bear Trend Confirmed
Rigorously Optimized Indicators
The Trendrating Smart Momentum Score is a composite of 8 technical indicators. Trendrating studied 353 indicators and applied them to an in-sample data base of 23 years of adjusted daily OHLCV, consisting of 14,500 instruments from 6 asset classes across 52 countries. Trendrating then identified 8 indicators deemed statistically significant according to the in-sample data. The model self adjusts the calibration of each indicator on the last trading day of each month.
Fund Overview
| Ticker | IPTRX | APTRX | CPTRX | APTRX |
| Share Class | Class I | Class A | Class C | Class A w/ Sales Load |
| CUSIP | 66538R847 | 66538R862 | 66538R854 | 66538R862 |
| Inception Date | 2018-12-03T00:00:00 | 2018-12-03T00:00:00 | 2018-12-03T00:00:00 | 2018-12-03T00:00:00 |
| As of Date | 2020-06-04T00:00:00 | 2020-06-04T00:00:00 | 2020-06-04T00:00:00 | 2020-06-04T00:00:00 |
| Daily NAV | 10.99 | 10.98 | 10.98 | 10.98 |
| NAV Change | -0.11 | -0.10 | -0.11 | -0.10 |
| % NAV Change | -0.99% | -0.90% | -0.99% | -0.90% |
Current Overview
| 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 | 0.73% | -9.77% | -0.89% | -4.18% | 5.61% | N/A | N/A | N/A | 7.27% |
| Class A | 0.73% | -9.78% | -0.98% | -4.27% | 5.62% | N/A | N/A | N/A | 7.20% |
| Class C | 0.73% | -9.78% | -0.98% | -4.27% | 5.52% | N/A | N/A | N/A | 7.20% |
| Class A w/Sales Load | -5.02% | -14.95% | -6.64% | -9.78% | -0.44% | N/A | N/A | N/A | 3.06% |
Quarterly Overview
| 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 | -8.85% | -10.20% | -6.10% | -10.20% | -0.64% | N/A | N/A | N/A | 3.11% |
| Class A | -8.86% | -10.29% | -6.11% | -10.29% | -0.74% | N/A | N/A | N/A | 3.03% |
| Class C | -8.86% | -10.29% | -6.20% | -10.29% | -0.74% | N/A | N/A | N/A | 3.03% |
| Class A w/Sales Load | -14.11% | -15.45% | -11.54% | -15.45% | -6.45% | N/A | N/A | N/A | -1.48% |
Past Performance does not guarantee future results. The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Past performance is no guarantee of future results. For performance information current to the most recent month end, please call toll-free 1-888-985-9830.
The maximum sales charge for Class A Shares is 5.75%. Class A Share investors may be eligible for a reduction in sales charges. The total annual fund operating expense ratio, gross of any fee waivers or expense reimbursements, are Class A 1.91%, Class C 2.66%, and Class I 1.66%. The net operating expenses are Class A 1.24%, Class C 1.99%, and Class I 0.99%. The Fund’s investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until July 31, 2019, to insure that the net annual fund operating expenses, excluding acquired fund fees and expenses, will not exceed Class A 1.24%, Class C 1.99%, and Class I 0.99%, subject to possible recoupment from the Fund in future years. Please review the Fund’s Prospectus for more detail on the expense waiver.
