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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: 12/20/11
Benchmark: FTSE 3 Month T-Bill Index
Morningstar Category: Managed Futures

Performance

As of 03/31/20 – Class I Shares
AMFZXFTSE 3-Mo.
1 Month-5.28%0.13%
YTD-14.75%0.39%
1 Year-9.79%2.04%
3 Year-1.66%1.74%
5 Year-2.18%1.12%
Since Incept.1.19%0.70%

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 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.

Portfolio Statistics Percentile Rankings

04/01/16-12/31/19

 

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 highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. The Fund was ranked 36% for the 1-year period, 12% for the 3-year period, 19% for the 5-year period and 3% 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 Managed Futures Strategy Fund Class I shares was rated 5 stars for the 3-year period and 4 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.

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.

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.

Correlation Matrix

Data from 01/01/12-12/31/19
Source: Morningstar. Data from 01/01/12 to 12/31/19. The Fund is represented by the 361 Managed Futures Strategy Fund I (AMFZX), which was incepted on 12/20/11. Data is represented by the following sources: Domestic Equity by the S&P 500, Foreign Equity by the MSCI ACWI, Managed Futures by the Morningstar Managed Futures Category, Real Assets by the S&P GSCI, Fixed Income by the Barclays Aggregate Bond Index, and Cash by the FTSE 3 Month T-Bill Index.

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.

Commentary

The Fund significantly outperformed the broader category for the quarter with most of the returns coming in October as the Fund was up 3.0% and the category was down 2.4%. Equity trading was positive over the quarter for the category due to long exposure in markets that were up 9%, but our counter-trend approach in equities was also beneficial, particularly during the volatility present in early October.