August Monthly Snapshot

361 Managed Futures Strategy Fund &
361 Global Counter-Trend Fund

Equity markets were flat to up for August with the S&P 500 Index and the MSCI World Index both earning 0.14%. Some markets experienced larger gains as the Hang Seng earned more than 5%, the Nasdaq 100 was up just over 1% and the DAX was up nearly 2.5%. While the markets produced somewhat muted returns, they did so with rather high noise which led to some profitable trading opportunities for both the 361 Managed Futures Strategy Fund (AMFZX) and the 361 Global Counter-Trend Fund (AGFZX) which earned 0.27% and 1.82%, respectively. AMFZX saw one completed trade, a short trade near the end of the month that produced a modest gain. AGFZX was more active, completing 34 trades in August—85% of which were profitable. Gains came fairly evenly across regions, with the United States, Europe and Asia all posting positive returns.