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PERFORMANCE

A Strategy that Checks Every Box

The 361 Global Long/Short Equity Fund has historically outperformed category peers on multiple performance fronts.

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The 361 Global Long/Short Equity Fund is ranked in the 12th percentile based on Total Return since Fund inception as of 6/30/2018 among 197 funds in the Morningstar Long Short Equity Funds category. The lower the number rank, the better the Fund performed compared to other funds in its category. Source: Morningstar. Data from 1/1/2015 to 6/30/18, representing the Fund’s first full month of operation. This does not include data from the Analytic Global Long/Short Equity Fund, L .P. (“Predecessor Account”), a limited partnership that commenced operations on 1/6/2014 and was reorganized into the Fund on 12/12/2014. Peer Group (5-95%): Open End Funds – Long/Short Equity Category. The calculation benchmark for all statistics is the S&P 500 which is the Morningstar assigned benchmark for the Long/Short Equity category. Past performance is not indicative of future results.

% Total Returns As of 6/30/2018* 2Q18 YTD 1 Year 3 year Since Inception
361 Global Long/Short Equity Fund I 0.09% 0.26% 7.68% 7.68% 7.89%
MSCI World Index 1.73% 0.43% 11.09% 8.48% 7.65%
Morningstar Long/Short Equity Category 0.21% -0.66% 5.47% 2.89% 2.85%

Annual Expense Ratio: Gross 2.21% / Expense Ratio Excluding Dividend & Interest Expense on Short Sales 1.60%. The net with limitation expense ratio is 1.50% for Class I. The gross expense ratio includes dividend and interest expense on short sales of 0.61%, acquired fund fees and expenses. Reflects contractual agreement to waive and/or pay for certain fees and expenses until 2/28/2019. See Prospectus for additional details.
* Returns shown over one year are annualized. Returns include the reinvestment of dividends and income.

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.

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Portfolio characteristics do not represent or predict the performance of the fund.

POTENTIAL BENEFITS

Performance While Managing Downside Risk

During the most recent MSCI World Index drawdown, the 361 Global Long/Short Equity Fund
was able to capture equity returns while managing downside risk.

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Returns shown over one year are annualized. Returns include the reinvestment of dividends and income. Source: Morningstar. Data from 5/21/2015-12/8/2016. The timeframe was selected based on the beginning date and the end date of the MSCI World Index’s most recent drawdown.

Strategies that minimize drawdowns may leave investors in a better position to compound returns when stocks recover. Smaller drawdowns also dampen the psychological impact of market losses and keep investors from abandoning stocks at the wrong time.

A PROVEN TRACK RECORD OF PERFORMANCE THROUGH UP AND DOWN MARKETS

% Performance as of 6/30/2018 2Q18 1 Year 3 year Since Inception
1/6/2014
During Drawdown
5/21/2015 – 12/8/2016
361 Global Long/Short Equity Fund I 0.09% 7.68% 7.68% 7.89% 8.21%
MSCI World Index 1.73% 11.09% 8.48% 7.65% -0.27%

INSIGHTS

RESOURCES

FACT SHEET

ARTICLES

CONVERSATION TOOLS

View the Fund’s prospectus >

You should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. View 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. The potential loss from a short sale 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.

The Analytic Global Long/Short Equity Fund, L.P. (“Predecessor Account”) was a limited partnership that commenced operations on 1/6/2014 and reorganized into the Fund on 12/12/2014. The Fund’s objectives, policies, guidelines and restrictions are, in all material respects, equivalent to those of the Predecessor Account. Performance shown prior to 12/12/2014 is that of the Predecessor Account and has not been adjusted to reflect the expenses of the Fund’s Class I shares, which are lower than the expenses of the Predecessor Account. If the Class I expenses were reflected, the Predecessor Account returns would be higher than those shown. However, the Predecessor Account was not registered under the Investment Company Act of 1940 and therefore was not subject to certain restrictions on regulated investment companies. If the Predecessor Account had been registered its performance may have been lower.

The 361 Global Long/Short Equity Fund Class I shares was rated 4 stars Overall and for the 3-year period among 189 funds in the Managed Futures funds category. Ratings reflect fee waivers in effect; in their absence, ratings may have been lower.

Morningstar Ratings™ are calculated for managed products including mutual funds with at least a three-year history. ETFs 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 return.

Sustainability Rating as of 4/30/2018. Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score. Out of 99 Long/Short Equity funds as of 4/30/2018. Based on 96.61% of AUM. The Morningstar Sustainability RatingTM is a measure of how well the holdings in a portfolio are managing their environmental, social, and governance, or ESG, risks and opportunities relative to their Morningstar Category peers. Morningstar ranks all scored funds within a category by their Portfolio Sustainability Scores and divides them into five groups along a bell curve distribution. A fund’s rating is depicted by one to five globes with one globe being the lowest score to five globes being the highest. Sustainability Ratings only reflect information on the ESG performance of a fund’s holdings and are not an evaluation of a fund’s performance or overall investment merit.

© 2018 Morningstar. All rights reserved

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The 361 Funds are distributed by IMST Distributors, LLC.