NAV as of 5/23/2019

1 Day NAV Change as of 5/23/2019

NAV Total Return as of 5/23/2019

SHOW NAV TOTAL RETURN INFO +

YTD (year to date) is a period, starting from the beginning of the current calendar year, and continuing up to the prior day's close.

YTD (year to date) is a period, starting from the beginning of the current calendar year, and continuing up to the prior day's close.

OVERVIEW

ASSET ALLOCATIONS

HOLDINGS

PERFORMANCE

DISTRIBUTIONS

OverviewBack To Top

INVESTMENT OBJECTIVES

The Fund’s two investment objectives are to provide long-term total return (the combination of yield and net price gains from the 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.

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.

PROFILE

Experienced Investment Team

Managed by an investment team with more than 115 years of collective experience managing private accounts in the same investment style.

Well-Proven Risk Limiting Discipline

Trailing stops are manually implemented under every individual holding, and are manually reviewed daily, in order to moderate any sustained losses to the portfolio.

Access to Institutional Money Managers

By utilizing multiple leading institutional money managers, Sierra provides another level of broad diversification and expertise in their investment styles.

Asset AllocationsBack To Top

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

MONTHLY ALLOCATION BREAKDOWN


HISTORICAL ALLOCATION BREAKDOWN

to

Top 10 HoldingsBack To Top

AS OF

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

PerformanceBack To Top

PERFORMANCE THROUGH 5/23/2019

NAV
NAV DAILY CHANGE
% DAILY CHANGE
% YTD RETURN

ANNUAL RETURN THROUGH

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.

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.

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.

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.

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.

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

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).

(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 is December 24.


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

DistributionsBack To Top

Record Date: The date the distribution amount is declared.

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