361 U.S. Small Cap Equity Strategy

There are no guarantees that any investment strategy will be successful or will produce the intended results. Also, the 361 U.S. Small Cap Equity Fund does not hold any positions in Apple as of June 30, 2017.

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.

Investments made in small and mid-capitalization companies may be more volatile and less liquid due to limited resources or product lines and more sensitive to economic factors. The Fund may also invest in exchange-traded funds (ETFs), thus shareholders will bear additional costs and the ETF may not exactly replicate the performance it seeks to track.

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The 361 Funds are distributed by IMST Distributors, LLC.