Funds

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.

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

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

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

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.