361 Managed Futures Strategy Fund

I: AMFZX | Investor: AMFQX

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Fund Details

Objective: Seeks positive absolute returns that have a low correlation to the returns of broad stock and bond markets.

Inception: 12/20/2011

Benchmark: FTSE 3 Month T-Bill Index

Morningstar Category: Managed Futures

Performance

As of 6/30/18 – Class I Shares

YTD	-0.85%
1 Year	4.59%
3 Year	-1.34%
5 Year	1.48%
Since Inception	3.29%
Alpha α (as of 3/31/18)	2.70%

Click here for quarter-end performance.

Featured Materials

Fact Sheet >

Commentary >

Strategy Overview >

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.

Overview
Performance & Statistics
Portfolio Details
Commentary & Literature

Overview

Fund Strategy

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

Why Invest in the Fund

Portfolio Diversification

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

Positive Absolute Returns

Fund seeks consistent, positive returns across all market cycles.

Contrarian Approach

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

Growth of Hypothetical $10,000 Investment

12/20/2011-3/31/2018

Past performance does not guarantee future results.

See Performance & Statistics >

For the 3 year period, the Fund was rated 4 stars out of 94 and for the 5 year period, it was rated 4 stars out of 58 as of 3/31/2018. 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 weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. © 2018 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. See Glossary of Terms >

Investing involves risk, including possible loss of principal. Futures prices may 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. Fund assets not invested in futures are invested primarily in investment-grade bonds. Bond prices generally fall when interest rates rise. 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.

Performance & Statistics

% Total Returns

As of 3/31/2018*

% Calendar Year Returns

Correlation Matrix

Data from 1/1/2012-3/31/2018

See Portfolio Details >

Returns include reinvestment of dividends and income.

See Glossary of Terms >

Fund Details

Statistical Signature

As of 3/31/2018

What is Counter-Trend?

Day-to-day market movements are dominated by noise, fear, and greed, causing extreme short-term movements and increasing volatility. Investors often “buy strength, sell weakness,” creating panic by moving into or out of fast-moving markets.

A counter-trend approach seeks to tactically identify periods when fear and greed are present and to profit from these emotions by exploiting their inflection points. The strategy’s short investment horizon and contrarian objective gives it a low correlation to broad markets and even other managed futures products.

Commentary

Executive Summary

The S&P 500 had its first down quarter since the third quarter of 2015. For the quarter, the 361 Managed Futures Strategy Fund outperformed its peers in the Morningstar Managed Futures category.

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