361 Global Managed Futures Strategy Fund

I: AGFZX | Investor: AGFQX
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Fund Details

Objective: Seeks positive absolute returns that have a low correlation to the returns of global stock and bond markets.
Inception: 2/12/2014
Benchmark: FTSE 3 Month T-Bill Index
Category: Managed Futures
Vehicles Available:
Separate Account
Mutual Fund

Performance

As of 11/30/18 – Class I Shares
YTD -3.53%
1 Year -2.88%
3 Year 5.01%
Since Inception 2.91%
Alpha α (as of 9/30/2018) 1.60%

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

The 361 Global Managed Futures Strategy Fund seeks to generate performance by employing a suite of systematic trading models that take positions (long, short, or cash) in equity index futures contracts across the globe.

Why Invest in the Fund

Portfolio Diversification

Alternative mutual fund with low correlations to global markets offering true diversification.

Global Exposure

Fund seeks to benefit from increased and expanded opportunity set across global markets.

Contrarian Approach

Counter-trend approach seeks to profit from short-term price extremes independent of market direction.

True Diversifier with a Positive Impact

Data from 1/1/2015 to 9/30/2018

View enlarged chart >

Source: Morningstar.

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. Futures prices can be very volatile. The small margin required for futures contracts magnifies the effect of market volatility and allows the loss from a contract potentially to exceed the Fund’s initial investment. With short contracts, the loss is theoretically unlimited since the appreciation of the underlying asset also is theoretically unlimited. 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 6/30/2018*
* Returns shown over one year are annualized. Returns include the reinvestment of dividends and income.

% Calendar Year Returns

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.

Growth of Hypothetical $10,000 Investment

2/12/2014-9/30/2018
See Glossary of Terms >

† 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 2/28/2019. See Prospectus for additional details.

Statistical Signature

As of 9/30/2018

Commentary

Executive Summary

Within the wide variety of programs in the category, our strategy is one of two single manager, short-term counter trend funds. Our models seek to exploit overreactions in equity markets and profit from the short-term mean reversion often observed following outsized moves (up or down). We expect the Fund to perform well in choppy or ‘noisy’ markets, while being more muted in steadilyrising markets. With the VIX again below its long-term average, and noise at low levels for most of the quarter, the Fund performed in line with expectations.