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361 U.S. Small Cap Equity Fund

I: ASFZX | Investor: ASFQX
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Fund Details

Objective: Seeks to achieve long-term capital appreciation that will exceed the Russell 2000® Index return over a three- to five-year time horizon.
Inception: 12/30/2016
Benchmark: Russell 2000 Index
Morningstar Category: Small Cap Blend

Performance

As of 07/31/17 – Class I Shares
1 Month 1.64%
6 Months 5.71%
Since Inception 5.60%

Click here for quarter-end performance.

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.

Please see page 73 of the prospectus for additional unregistered product performance.

Fund Strategy

Based on an institutional strategy with a nine year track record, the 361 U.S. Small Cap Equity Fund seeks to deliver capital appreciation by:

  • Utilizing 30 years of academic research that is rooted in the science of behavioral psychology
  • Believing security prices are influenced by the opinion of perceived experts and that the behavior of these experts follows a predictable pattern
  • Investing in companies that are likely to be the beneficiaries of future favorable earnings announcements and earnings estimate revisions

Why Invest in the Fund

Behavioral-Driven

Based on 30 years of research, the Fund’s quantitative process taps into behavioral biases in an attempt to identify stocks poised for appreciation.

Capital Appreciation

Seeks growth by outperforming the Russell 2000 Index over a full market cycle through exposure to small cap companies.

Alpha Seeking

Provides a compelling alpha source by forecasting changes in analyst estimates and corporate earnings announcements, which we believe drive stock prices.

Investment Process

U.S. Small Cap Equity Investment Process

Returns include reinvestment of dividends and income.

There are no guarantees that any investment strategy will be successful or will produce the intended results.
Also, the 361 U.S. Small Cap Equity Fund does not hold any positions in Apple as of June 30, 2017.

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.

Investments made in small and mid-capitalization companies may be more volatile and less liquid due to limited resources or product lines and more sensitive to economic factors. The Fund may also invest in exchange-traded funds (ETFs), thus shareholders will bear additional costs and the ETF may not exactly replicate the performance it seeks to track.

See Glossary of Terms >

The 361 Funds are distributed by IMST Distributors, LLC.

% Total Returns

As of 6/30/2017
361Capital-US-Small-Cap-Equity-Fund-Fact-Sheet-Percent-Total-Returns

% Calendar Year Returns

361Capital-US-Small-Cap-Equity-Fund-Fact-Sheet-Percent-Calendar-Returns

Returns include reinvestment of dividends and income.

See Glossary of Terms >

† 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.

Sector Exposure

As of 6/30/2017

Commentary

Executive Summary

 

The 361 U.S. Small Cap Equity Fund (ASFZX) gained 3.69% in the second quarter, beating the Russell 2000 index which rose 2.46% . Our behavioral models provided moderate alpha opportunity during the quarter with the top quintile of stocks ranked by our two main alpha models performing either in line, or below, the Russell 2000. This is not unexpected since growth did well relative to value, and once again, momentum was an underlying driver in the market.

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