October Monthly Snapshot

361 Managed Futures Fund & 361 Global Counter-Trend Fund

Equity markets were mixed in October, with U.S. markets suffering from pre-election volatility. The S&P 500 Index lost 1.82% while the Russell 2000 Index declined by 4.75%. Europe fared better, with the Euro Stoxx 50 Index gaining nearly 2%. The best performing developed market was the Nikkei 225 Index, which gained nearly 6% during the month. With this backdrop, the 361 Global Counter-Trend Fund (AGFZX) gained 0.46%, while the 361 Managed Futures Strategy Fund (AMFZX) was flat. Despite the flat result, AMFZX did have two trades during the month, with the gains from one trade offsetting the loss from the other. AGFZX remained very active, completing 33 trades. All of the Fund’s gains came from Europe, which added more than 1% to the fund, while Asia and the U.S. were slight detractors during the month.