361 Global Managed Futures Strategy Fund

I: AGFZX | Investor: AGFQX

Fund Details

Objective: Seeks positive absolute returns that have a low correlation to the returns of global stock and bond markets.
Inception: 02/12/14
Benchmark: FTSE 3 Month T-Bill Index
Morningstar Category: Managed Futures


As of 02/29/20 – Class I Shares
1 Year-7.79%
3 Year-1.92%
5 Year2.05%
Since Inception0.80%

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.

Portfolio Statistics Percentile Rankings



Morningstar rankings are based on a fund’s average annual total return relative to the funds in the same category and includes the reinvestment of dividends and capital gains. Rankings shown are for Class I shares and may be lower for Investor shares due to higher fees and expenses. The rankings may have been lower without the fee waiver in effect. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable)percentile rank is 100. The Fund was ranked 43% for the 1-year period, 16% for the 3-year period, 8% for the 5-year period and 26% since inception among 122, 100, 82, 100 funds, respectively.

Past performance does not guarantee future results.

Market Turbulence Resulting from COVID-19. The outbreak of COVID-19 has negatively affected the worldwide economy, individual countries, individual companies and the market in general. The future impact of COVID-19 is currently unknown, and it may exacerbate other risks that apply to the Fund.

The 361 Global Managed Futures Strategy Fund Class I shares was rated 4 stars for the 3-year period and 5 stars for the 5-year period among 100 and 82 funds, respectively, in the Managed Futures funds category. Ratings reflect fee waivers in effect; in their absence, ratings may have been lower.

The Morningstar Rating™ 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 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. The weight is 100% for a three-year rating for 36-59 months of total returns and 60% five-year rating/40% three-year rating for 60-119 months of total returns. © 2020 Morningstar. All rights reserved. 

The 361 Global Managed Futures Strategy Fund, Class I shares, received a Refinitiv 2019 Lipper Fund Award for the three-year time period among 84 funds in the Alternative Managed Futures Funds category. Lipper Awards are granted annually to the funds in each Lipper classification that achieve the highest score for Consistent Return, a measure of funds’ historical risk-adjusted returns, measured in local currency, relative to peers. Winners are selected using the Lipper Leader rating for Consistent Return for funds with at least 36 months of performance history as of 12/31/18. Awards are presented for the highest Lipper Leader for Consistent Return within each eligible classification over 3, 5 or 10 years. Other share classes may have different performance and expense characteristics. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Lipper awards are not intended to predict future results. From Lipper Fund Awards from Refinitiv, March 7, 2019 © 2019 Refinitiv. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited.

See Glossary of Terms >

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.

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.

The 361 Funds are distributed by IMST Distributors, LLC.

Total Returns

As of 12/31/19*
* 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.
**2014 return is since the Fund's inception of 02/12/14.

True Diversifier with a Positive Impact

Data from 01/01/15 to 12/31/19

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The Adviser has contractually agreed to waive certain fees and/or pay expenses to limit expenses to 1.74% for Class I and 1.99% for the Investor Class shares as a percent of the average daily net assets until 02/28/21. The Adviser is permitted to seek reimbursement from the fund which is reflected in the Net Expense Ratio. See Prospectus for additional details.

Statistical Signature

As of 12/31/19
††Hit Ratio is the number of winning active signals divided by the number of total active signals. It
does not take into account how much was won or lost, simply if they are profitable.


The Fund significantly outperformed the category with most of the returns coming in October as the Fund was up 2.5% and the category was down 2.6%. Equity trading was positive over the quarter for the category due to their long exposure to rising markets; but that was overshadowed by negative returns from currency and commodity trading. Our counter-trend approach in equities also generated positive returns, and our lack of exposure to other asset classes (e.g., bonds) was beneficial.