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361 Macro Opportunity Fund

I: AGMZX | Investor: AGMQX
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Fund Details

Objective: Seeks long term positive absolute returns.
Inception: 6/30/2014
Manager: Blaine Rollins, CFA
Benchmark: Citigroup 3 Month T-Bill Index and Blended Index
Morningstar Category: Multialternative

Performance

As of 08/31/17 – Class I Shares
YTD 9.32%
1 Year 10.56%
3 Year -1.10%
Since Inception -0.83%

Click here for quarter-end performance.

Returns over one year are annualized.

Past returns shown do not guarantee future results. Current performance may be lower or higher. Call 888-736-1227 for the latest month-end returns. Return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than original cost. Other share class performance may vary.

Fund Strategy

Using a combination of 361’s quantitative abilities and Blaine Rollins’ market expertise, the strategy is designed to find and focus on the best Macro investment opportunities worldwide and then determine how to implement the exposure for the largest potential gain.

Why Invest in the Fund

Portfolio Diversification

Alternative strategy designed to provide a multi-asset class tactical element to strategically constructed portfolios.

Opportunistic Exposure

Fund applies both systematic and discretionary approaches to direct investments across asset classes.

Active Risk Management

Emphasis on risk management
in an attempt to protect capital in times of stress.

Returns include reinvestment of dividends and income.

You should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. For a prospectus, or summary prospectus, that contains this and other information about the Funds, call 1-888-736-1227. Please read the prospectus or summary prospectus carefully before investing.

Investing involves risk, including possible loss of principal. The potential loss from a short sale is theoretically unlimited since the appreciation of the underlying asset also is theoretically unlimited. Small- and mid-sized company securities tend to be less liquid and more volatile than those of large companies. High-yield bonds have higher default rates. Prices of commodities and related contracts may be very volatile for a variety of reasons, and may be difficult to liquidate in volatile markets. Commodity-related investments potentially may generate too much “non-qualifying income” that would jeopardize the Fund’s status as a “regulated investment company,” with significant adverse tax consequences for the Fund and its shareholders. Foreign investment entails additional risk from adverse changes in currency exchange rates, tax regulation, and potential market instability. Frequent trading by the Fund may reduce returns and increase the number of taxable transactions. Concentration of its portfolio in relatively few issuers may make the Fund more volatile than a diversified fund.

See Glossary of Terms >

The 361 Funds are distributed by IMST Distributors, LLC.

% Total Returns

As of 6/30/2017*

% Calendar Year Returns

Equity Region Breakdown

Returns include reinvestment of dividends and income.

† Furthermore, the Adviser has contractually agreed to maintain the total annual fund operating expenses at stated levels, exclusive of certain expenses such as acquired fund expenses and dividend and interest expenses on short sales until 2/28/2018. See Prospectus for additional details.

Equity Sector Allocations

As of 6/30/2017

Equity Style Breakdown

Commentary

Executive Summary

For the second quarter ended June 30, 2017, the 361 Macro Opportunity Fund (AGMZX) returned 2.08%, beating the Morningstar Multialternative Category which gained 0.63%. Global stocks notched their seventh quarterly gain while global bonds also posted positive gains. While global politics and geopolitical issues dominated the front pages, improving global growth combined with low inflation, led to a solid backdrop for both stocks and bonds. U.S. equity investors did even better if they allocated overseas where stronger growth expectations and a falling U.S. dollar added to the returns over U.S. based equities. Within U.S. equities, the Technology and Health Care sectors were the standout performers. The Energy sector continued to be a dismal performer as energy prices fell behind OPEC’s disorganization and increased U.S. production.