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FOR FINANCIAL PROFESSIONALS ONLY. NOT FOR USE WITH THE PUBLIC.


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Important Risk Information:

Mutual funds involve risk including possible loss of principal. There is no assurance that the Fund will achieve its investment objective. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Many of the derivative contracts entered into by the Fund, the Subsidiary or a trading company will be privately negotiated in the OTC market. These contracts also involve exposure to credit risk, since contract performance depends in part on the financial condition of the counterparty. Credit risk refers to the possibility that the issuer of the security will not be able to make principal and interest payments when due. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the US or abroad.

Derivative instruments come in many varieties and have a wide range of potential risks and rewards, and may include futures contracts, options on futures contracts, options, swaps, and forward currency exchange contracts. Derivatives typically have economic leverage inherent in their terms. The use of leverage tends to exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities or other investments. Furthermore, derivative instruments and futures contracts are highly volatile and are subject to occasional rapid and substantial fluctuations. Investments in foreign securities could subject the Fund to greater risks including, currency fluctuation, economic conditions, and different governmental and accounting standards.
derivative instruments and futures contracts are highly volatile and are subject to occasional rapid and substantial fluctuations.

Your participation in this survey is optional. We will use the information provided to help us better understand the marketplace and overall interest in the Equinox Ampersand Strategy Fund.

Mutual funds involve risk including possible loss of principal. There is no assurance that the Fund will achieve its investment objective.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information about the Equinox Ampersand Strategy Fund are contained in the Prospectus, which can be obtained by calling 1.888.643.3431. The Prospectus should be read carefully before investing.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS. YOU CAN LOSE MONEY IN A MANAGED FUTURES PROGRAM.

The Fund’s investment advisor, Equinox Institutional Asset Management, LP, has contractually agreed to reduce its fees and/or absorb expenses of the Fund at least until 10/31/2019 to ensure that the net annual fund operating expenses do not exceed 0.99% (Class I) of the Fund’s average daily net assets, subject to possible recoupment from the Fund in future years subject to approval of the Fund’s Board of Trustees. For performance current to the most recent month end, please visit www.equinoxfunds.com or call 877.837.0600.

For a 24-month period, beginning July 1, 2018 and ending June 30, 2020–the Performance Period–the Equinox management fee will be subject to a 12-month performance based voluntary waiver. Although the management fee is subject to a performance-based waiver, other fees and expenses do apply to an investment in the Fund.

*The Morningstar RatingTM for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. Morningstar Rating is for the I-Share class only; other classes may have different performance characteristics.

©2019 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fund ratings are only one form of performance measurement. Past performance is no guarantee of future results.

The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Institutional Asset Management, LP and featured Commodity Trading Advisors are not affiliated with Northern Lights Distributors, LLC.

Equinox Institutional Asset Management, LP serves as the Fund’s investment advisor. SECURITIES OFFERED THROUGH EQUINOX GROUP DISTRIBUTORS, LLC, MEMBER FINRA. To obtain more information, contact Equinox Funds at 1.877.837.0600. [email protected]

FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR USE WITH THE PUBLIC.

Here are some highlights and details about the Equinox Ampersand Strategy Fund (EEHIX).

Designed as a core portfolio holding, the Ampersand Fund provides investors with S&P 500® Index exposure complemented by an overlay of futures-trading strategies designed to dampen portfolio risk during times of increased volatility while seeking to provide uncorrelated alpha.

Fund Composition:

• Balancing Risk & Reward – The Fund is anchored by a laddered fixed-income portfolio.
• Capital Efficient Equity Exposure – Equity exposure is achieved through S&P 500® futures contracts.
• Overlay – Futures-based diversifying strategies and dynamic equity hedges seeking to add uncorrelated alpha and mitigate downside risk.

The Fund also offers investors a distinct and innovative fee structure. In the event the Ampersand Strategy Fund underperforms the S&P 500® Index during a 24-month Performance Period (7/1/2018 – 6/30/2020), the Equinox management fee will be voluntarily waived for the following year. For each subsequent 36-month period thereafter, the Equinox management fee will be subject to this performance-based voluntary waiver. Although the management fee is subject to a performance-based waiver, other fees and expenses do apply to an investment in the Fund.

Fund Details:
Morningstar Category: Long-Short Equity
Fund Type: Multi-Strategy
Fund Inception: 9/9/2013
Net Assets: $11.6M

Fund Performance Information as of 6/30/2019

Performance data quoted here represents past performance. Current performance may be lower or higher than the performance quoted above. The value of an investor’s shares will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. Past performance is no guarantee of futures results. For performance information current to the most recent month-end, please visit equinoxfunds.com.

Fund Performance Information as of 6/30/2019

Past performance is no guarantee of future results.

Morningstar Rank and Ratings

Morningstar Rank and Ratings in the Long-Short Equity category for the periods ending 6/30/2019. Rank in Category based on total returns, Star Rating based on risk-adjust returns.

Additional Fund Characteristics as of 6/30/2019

Past performance is no guarantee of future results.

Please take your time to review as needed.
Fact Sheet
Commentary
Overlay Performance One-Pager
Summary Prospectus
Prospectus

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