Fixed Income Funds

There is no guarantee that any investment strategy will achieve its objectives, generate profits or avoid losses.

The Funds may execute an investment strategy or hedge by entering into derivative contracts such as futures and swaps, which can be riskier than traditional investments. The Funds may invest in ETF’s. As a result, your cost of investing in the Funds will be higher than the cost of investing directly in ETF shares and may be higher than other mutual funds that invest directly in stocks and bonds. When the adviser believes market conditions are unfavorable, the adviser may attempt to “hedge” with defensive positions and strategies including holding substantial positions in foreign or domestic fixed-income securities and/or cash equivalents, which may limit potential gains when compared to unhedged funds. Bond Funds contain interest rate risk (as interest rates rise bond prices usually fall); the risk of issuer default; and inflation risk. High-yield, high-risk securities, commonly called “junk bonds,” are considered speculative. Lower-quality debt securities involve greater risk of default or price changes due to potential changes in credit quality of the issuer.

The Funds may invest in small, less well-known companies, which may be subject to more erratic market movements than large-cap stocks; derivative securities, covered call and put option risk which may carry market, credit, and liquidity risks. Investments in foreign securities could subject the Funds to greater risks including, currency fluctuation, economic conditions, and different governmental and accounting standards. Non-diversification risk, as the Funds are more vulnerable to events affecting a single issuer. 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.

Mutual Funds involve risk including possible loss of principal. An investor should consider the Fund’s investment objectives, risks, charges, and expenses carefully before investing. This and other information about the Funds is contained in the Fund’s prospectus, which can be obtained by calling 877-558-6397. Please read the prospectus carefully before investing. Toews Funds are distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Toews Corporation is not affiliated with Northern Lights Distributors, LLC.