The Morningstar Overall rating is based on risk adjusted returns among 96 US managed funds. Derived from a weighted average of the fund’s 3-year risk-adjusted return measures as of 30 September 2017. The overall rating applies to the I Share class of the fund. Ratings may differ per share class.

About Managed Futures

The Abbey Capital Futures Strategy Fund (the “Fund”) is an actively managed mutual fund which will seek long-term capital appreciation. Current income is a secondary objective.

  • Managed futures managers can take long and short positions and trade multiple markets; this gives them the ability to potentially profit from falling and rising markets

  • There are a range of trading strategies employed by managers including trendfollowing, mean reversion, discretionary macro and value

  • The drivers of returns for managed futures are different to those of long equity portfolios

  • Combining managed futures with equities has the potential to create portfolio benefits above those experienced by an equity-only portfolio**

** These benefits may include a lower drawdown and volatility profile and a better risk-adjusted return. However, managed futures may not provide these benefits and these benefits are dependent upon a number of variable factors including market environments. Trading in managed futures is not suitable for all investors given its speculative nature and the high level of risk involved

Reasons to Invest

Portfolio Diversification
  • Exposure to an asset class with fundamentally different drivers to equity markets based on exploiting investor behavioural biases
  • Potential for positive returns in falling and rising equity markets **
  • Fund seeks to produce strong risk to reward profile via a rigorous investment process
Strategy & Market Diversification
  • Exposure to a range of trading strategies

  • Strategies executed across bond, equity, commodity and foreign exchange futures markets
Cost Efficiency
  • Competitive fee structure
  • No performance fees for Abbey Capital nor underlying managers

  • For further information on Fees & Expenses, click here
Manager Access
  • Access to high quality managers in managed futures, foreign exchange and global macro
  • Managers selected and monitored by Abbey Capital, an allocator with over 17 years track record of successful multi-manager investing

Performance Overview

  • Class I
  • Class A
  • Class C

Performance of Class I (ABYIX)

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  • Daily Return %

As of

Click “Find Out More” for standardised returns and other performance data

Performance of Class A* (ABYAX)

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  • Daily Return %

As of . The performance for Class A shares does not include the effect of the sales charge.

Click “Find Out More” for standardised returns and other performance data

Performance of Class C⁺ (ABYCX)

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  • Daily Return %

As of

Click “Find Out More” for standardised returns and other performance data

The Fund may invest in derivatives (futures, options, swaps) and commodities. Investing in managed futures may not be suitable for all investors given its speculative nature and the high level of risk involved. The Fund is appropriate only for investors who can understand and bear the risks associated with product. Click here for further risk considerations.

Investors should consider the investment objectives, risks, charges and expenses of the Abbey Capital Futures Strategy Fund carefully before investing. A prospectus with this and other information about the fund including returns current to most recent month-end may be obtained by calling (US Toll Free) 1-844-261-6484, international callers call + 1-414-203-9540, or by clicking here. The prospectus should be read carefully before investing. The Abbey Capital Futures Strategy Fund is distributed by Quasar Distributors, LLC.

* Class A performance prior to 29 August 2014 is the performance of Class I , adjusted for the Class A expense ratio. There is a maximum sales charge (load) imposed on purchases (as a percentage of offering price) of 5.75% in Class A. Please refer to the prospectus for further information on expenses and fees.

⁺ Class C performance prior to 6 October 2015 is the performance of Class I, adjusted for the Class C expense ratio. Please refer to the prospectus for further information on expenses and fees.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Performance would have been lower without fee waivers in effect.

The Total Expense Ratio for Class I is 1.97%, for Class A is 2.22% and for Class C is 2.97%. The Net Expense Ratio for Class I is 1.81%, for Class A is 2.06% and for Class C is 2.81%. The Adviser has contractually agreed to waive and/or reimburse certain fees and expenses until 30 April, 2018. In addition, the Adviser may recoup certain amounts for the first three years if it does not cause the fund to exceed expense limitations.

Morningstar Analyst RatingTM is not a credit or risk rating. It is a subjective evaluation performed by the mutual fund analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars, which are process, performance, people, parent, and price. Morningstar's analysts use this five pillar evaluation to identify funds they believe are more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors in their research, and the weighting of each pillar may vary. The Analyst Rating ultimately reflects the analyst's overall assessment and is overseen by Morningstar's Analyst Rating Committee. The approach serves not as a formula but as a framework to ensure consistency across Morningstar's global coverage universe.

The Analyst Rating scale ranges from Gold to Negative, with Gold being the highest rating and Negative being the lowest rating. A fund with a "Gold" rating distinguishes itself across the five pillars and has garnered the analysts' highest level of conviction. A fund with a 'Silver' rating has notable advantages across several, but perhaps not all, of the five pillars-strengths that give the analysts a high level of conviction. A "Bronze"- rated fund has advantages that outweigh the disadvantages across the five pillars, with sufficient level of analyst conviction to warrant a positive rating. A fund with a 'Neutral' rating isn't seriously flawed across the five pillars, nor does it distinguish itself very positively. A "Negative" rated fund is flawed in at least one if not more pillars and is considered an inferior offering to its peers. Analyst Ratings are re-evaluated at least every 14 months. For more detailed information about Morningstar's Analyst Rating, including its methodology, please go to:

The Morningstar Analyst Rating should not be used as the sole basis in evaluating a mutual fund. Morningstar Analyst Ratings are based on Morningstar's current expectations about future events; therefore, in no way does Morningstar represent ratings as a guarantee nor should they be viewed by an investor as such. Morningstar Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar's expectations not to occur or to differ significantly from what we expected.

The Morningstar RatingTM 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 RatingTM 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 RatingTM 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. The Fund was rated 3 stars over the 3 -year period ended 30 September 2017 amoung 96 US Managed Futures funds.

© 2017 Morningstar, Inc. All Rights Reserved. The information contained herein (1) is proprietary to Morningstar (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 sue of this information. Past performance is no guarantee of future results.