HispanicBusiness

Class I Shares - Annual Expense Ratio: Gross 2.98%/Net 2.38%**. Ratio after fee waiver and/or expense reimbursement (less 0.23% excluded expenses): 2.15%.
Class A Shares - Annual Expense Ratio Gross 3.23%/Net 2.63%**. Ratio after fee waiver and/or expense reimbursement (less 0.23% excluded expenses): 2.40%

The performance data quoted here represents past performance. Past performance is no guarantee of future results. Investment return and principal value 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 information quoted. To obtain performance information current to the most recent month-end, please call 1-888-736-1227.

Attend the 361 Managed Futures Strategy Fund Quarterly Update Webinar
To learn more about the 361 Managed Futures Strategy Fund, please join Tom Florence, CEO, and Brian Cunningham, President & CIO, as they provide an update on the 361 Managed Futures Strategy Fund and its performance during both the fourth quarter and in its first year on Thursday, January 10 at 4:30p.m. ET. You can register by visiting: https://www2.gotomeeting.com/register/633024426.

About 361 Capital
361 Capital is a Registered Investment Advisor focused on managing portfolios of alternative investments that preserve capital in volatile markets through proven risk management strategies. Founded in 2001, the Denver-based firm launched its first mutual fund -- the 361 Absolute Alpha Fund -- in 2010. In 2011, it launched the 361 Long/Short Equity Fund and the 361 Managed Futures Strategy Fund. 361 Capital's products are distributed through investment advisors and institutions. For more information, call 866-361-1720 or visit www.361capital.com.

About Lighthouse Partners
Lighthouse Investment Partners, with offices in Florida, Chicago, New York, London, and Hong Kong, is a fund of hedge funds and managed account investment adviser managing approximately $6.5 billion for institutional and private investors. The proprietary managed account program is a hallmark of Lighthouse's investment process.

*Morningstar Category: Managed Futures
Lipper Category: Managed Futures Funds

**The Funds' advisor has contractually agreed to waive its fees and/or pay for expenses of the Funds to ensure that total annual fund operating expenses (excluding any acquired fund fees and expenses, interest, taxes, dividends on short positions, brokerage commissions and extraordinary expenses such as litigation expenses) do not exceed 2.40% for Class A shares and 2.15% for Class I shares of the average daily net assets of the 361 Managed Futures Strategy Fund. This agreement is effective until February 28, 2013 and may be terminated by the Trust's Board of Trustees. The Funds' advisor is permitted to seek reimbursement from the Fund, subject to certain limitations, for fees it waived and Fund expenses it paid for three years from the date of any such waiver or payment to the extent a class's total annual fund operating expenses do not exceed the limits described above or any lesser limits in effect at the time of reimbursement.