SIERRA TACTICAL ALL ASSET FUND
OBJECTIVES & STRATEGY

Investment Objectives: The Fund's two investment objectives are to provide long-term total return (the combination of yield and net price gains from underlying funds) and to limit volatility and downside risk.

Our Portfolio Managers analyze and allocate portions of the fund’s portfolio to a wide range of income-oriented asset classes. Each decision must serve one or both of the fund’s two goals: to enhance total return and/or to reduce the overall volatility and downside risk of the portfolio.

The Sierra Tactical All Asset Fund seeks to pay a quarterly dividend to its shareholders.

Past performance does not guarantee future results and there is no assurance that the Fund will achieve its investment objective.


The benchmark for the Sierra Tactical All Asset Fund has changed to the Morningstar Tactical Allocation Category, which seeks to provide capital appreciation and income by actively shifting allocations across investments. Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses or sales charges.

PERFORMANCE AND COMPOSITION

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Record Date: The date the distribution amount is declared.
Ex-Date / Pay Date: The date the distribution is paid to investors.

Performance Comparison From Inception: 12/24/2007 - 11/30/2014

 

 

** Core Fund data is net after fees. 
* Benchmark: Average of Morningstar's World Allocation category - managers who like Sierra can invest in the U.S. and/or globally, stocks and/or bonds, etc. 

The S&P 500 Index, a registered trademark of McGraw-Hill Co., Inc., is a market capitalization-weighted index of 500 widely held common stocks.

Asset Allocation as of


The performance presented above is net of the maximum sales charge ("load") for the respective share class.

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 1-866-738-4363 (1-866-RETI-FND).

Class A(SIRAX)
Total Annual Operating Expenses are 2.47%; Front-End Sales Charge (commission or "load") of 5.75%, with lower rates for accounts over $50,000; 12b-1 distribution fee which can be up to 0.25% per year.

Class A1 (SIRZX)
Total Annual Operating Expenses are 2.62%; Front-End Sales Charge (commission or "load") of 5.75%, with lower rates for accounts over $50,000; 12b-1 distribution fee which can be up to 0.40% per year.

Class C (SIRCX)
Total Annual Operating Expenses are 3.22%; no Sales Charge (commission or "load"); 12b-1 distribution fee which can be up to 1.00% per year.

Class I1 (SIRJX)
Total Annual Operating Expenses are 2.62%; no Sales Charge (commission or "load"); 12b-1 distribution fee which can be up to 0.40% per year.

Investor Class (SIRIX)
Total Annual Operating Expenses are 2.47%; no Sales Charge (commission or "load"); 12b-1 distribution fee which can be up to 0.25% per year.

Instl Class (SIRRX)
Total Annual Operating Expenses are 2.22%; no Sales Charge (commission or "load") or 12b-1 fee.

Note: The Total Annual Operating Expenses include expenses of the underlying funds, which are estimated at 0.74% per year.


(1) Represents the percentage increase/decrease in the net asset value from the prior trading day.

(2) Performance for periods less than one year are not annualized.

(3) The inception date of the Sierra Tactical All Asset Fund Class A, Investor Class and Instl Class is December 24, 2007, Class C is February 5, 2010, Class A1, I1 and Y is June 7, 2012.

Portfolio holdings are subject to change, vary over time and should not be considered a recommendation to buy any individual security.

Portfolio holdings are subject to change, vary over time and should not be considered a recommendation to buy and individual security.