ACM Dynamic Opportunity Fund

ACM Dynamic Opportunity Fund

Prospectus Disclosure:

Investors should carefully consider the investment objectives, risks, charges and expenses of the ACM Dynamic Opportunity Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-844-798-3833. The prospectus should be read carefully before investing. The ACM Dynamic Opportunity Fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.

Risk Disclosures:

Mutual Funds involve risk including possible loss of principal.

Adverse changes in currency exchange rates may erode or reverse any potential gains from the Fund’s investments.

ETF’s are subject to specific risks, depending on the nature of the underlying strategy of the fund. These risks could include liquidity risk, sector risk, as well as risks associated with fixed income securities, real estate investments, and commodities, to name a few.

Investments in underlying funds that own small and mid-capitalization companies may be more vulnerable than larger, more established organizations.

Derivative instruments involve risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments.

Investments in foreign securities could subject the Fund to greater risks including, currency fluctuation, economic conditions, and different governmental and accounting standards.

In addition to the risks generally associated with investing in securities of foreign companies, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues.

The Fund is a new mutual fund and has a limited history of operations for investors to evaluate.  Investors bear the risk that the Fund may not be able to implement its investment strategies or attract sufficient assets. The Adviser has not previously managed a mutual fund.

Purchased put options may decline in value or expire worthless and may have imperfect correlation to the value of the Fund’s portfolio securities.  Written call and put options may limit the Fund’s participation in equity market gains and may amplify losses in market declines.  The Fund’s losses are potentially large in a written put or call transaction.  If unhedged, written calls expose the Fund to potentially unlimited losses.

The Fund will incur a loss as a result of a short position if the price of the short position instrument increases in value between the date of the short position sale and the date on which an offsetting position is purchased.  Short positions may be considered speculative transactions and involve special risks, including greater reliance on the ability to accurately anticipate the future value of a security or instrument.  The Fund’s losses are potentially large in a short position transaction.

Performance Disclosure:

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. The Fund’s investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the Fund, at least until April 30, 2017, to ensure that the net annual fund operating expenses will not exceed 2.40% for Class A shares and 2.15% for Class I shares, subject to possible recoupment from the Fund in future years. Without these waivers, the Fund’s total annual operating expenses would be 2.45% for Class A shares and 2.20% for Class I shares. Maximum sales charge for Class A shares is 5.75%. Please review the fund’s prospectus for more information regarding the fund’s fees and expenses. For performance information current to the most recent month-end, please call toll-free 844-798-3833.