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CMG Family of Funds

The CMG Family of Funds has been developed to provide investors access to tactical, alternative investment solutions. CMG is committed to making tactical investments accessible to all investors. At the core of CMG’s investment DNA is the premise that tactical investment management can achieve a better risk-adjusted return than traditional buy-and-hold, stock and bond investments. We believe that active risk management, the ability to trade long, short or move to cash and the incorporation of non-traditional asset classes reduces portfolio risk and enhances return. By blending tactical investments with traditional stock and bond portfolios, we believe you can create a balanced investment approach and, importantly, a balanced emotional experience.

CMG Family of Funds

Liquid and Accessible Solutions

The CMG Mauldin Core Fund seeks to generate capital appreciation.  The Fund invests across various asset classes and sectors of the U.S., foreign and emerging equity and fixed income markets.  The Fund’s tactical asset allocation approach is managed by the Fund’s co-portfolio managers, Stephen Blumenthal and John Mauldin.  The Advisor seeks to achieve the Fund’s investment objective by investing in U.S., foreign and emerging markets equities of any capitalization during sustained equity market rallies and investing defensively in U.S. Treasury securities and other fixed income securities during periods of weakness in equity markets.  To determine equity market strength and the allocation of the Fund’s assets between equities and fixed income, the Advisor analyzes and evaluates the research data and market reports of multiple research providers.  These reports and data include tactical research that focuses on specific asset classes, sectors, investment styles, and other market exposures.

The CMG Tactical All Asset Strategy Fund seeks to generate capital appreciation by investing in a portfolio of ETFs that have exposure to U.S. equity indices and sectors, international equities, fixed income, and commodities.  The strategy utilizes a model-driven investment process that evaluates a global universe of ETFs in determining the Fund’s portfolio allocation.  The Advisor’s quantitative model ranks each potential ETF investment option based on the price data using proprietary relative strength and momentum indicators.  ETFs with the highest rankings are selected for investment, periodically re-evaluated and sold when they are no longer considered the highest rated fund in the Advisor’s proprietary model.

The CMG Tactical Bond Fund seeks to generate total returns over a complete market cycle through capital appreciation and income.  The Fund invests in high yield bond markets using a proprietary quantitative investment model that looks at price, volume, yield spreads, and default rates to identify trends in U.S. high yield bonds.  The investment model seeks to identify opportunities where the short-term and intermediate-term direction of the U.S. high yield bond market can be predicted with high probability.  The Advisor utilizes its proprietary risk management “Asset Allocation Program” in managing the Fund.  In down trending price environments, the Fund can also invest in put and call options as a means to protect (hedge) the portfolio’s high yield bond exposure and/or move its high yield bond exposure temporarily to cash or short-term cash equivalents in an attempt to mitigate market declines as well as lower portfolio volatility.

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

Seeking Portfolio Diversification with Low Correlation

Risk exists in all aspects of portfolio management; however, we believe it can be lowered by blending an allocation of non-correlating tactical trading strategies into your portfolio. We believe tactical investment solutions are an important part of your overall investment portfolio allocation.

Definition of terms:

Long: Buying a security such as a stock, commodity or currency, with the expectation that the asset will rise in value.

Short: Any sale that is completed by the delivery of a security borrowed by the seller. Short sellers assume they will be able to buy the stock at a lower amount that the price at which they sold short.

Futures Contracts: A contractual agreement, generally made on the trading floor of a futures exchange, to buy or sell a particular commodity or financial instrument at a pre-determined price in the future.

Hedge: an investment to reduce the risk of adverse price movements in an asset.  Normally, a hedge consists of taking an offsetting position in a related security, such as a futures contract.

Derivative:  A security whose price is dependent upon or derived from one or more underlying assets.  The value is determined by fluctuations in the underlying asset.

Mutual Funds involve risk including possible loss of principal. There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses. An investor should consider each individual Fund's investment objective, risks, charges, and expenses carefully before investing.

The Fund may invest more than 5% of its assets in the securities of one or more issuers and the resulting performance may be more sensitive to any single economic, business, political or regulatory occurrence than that of a diversified investment company. Equity prices can fall rapidly. Additionally, smaller companies may trade less frequently and in smaller volumes, experience higher failure rates and disproportionate price fluctuations.

The Fund's use of derivatives and futures contracts involves hedging, leverage risk and tracking risk. Leverage through futures can magnify the Fund's gains or losses. The Fund may invest in short futures positions which could prevent the Fund from participating in market gains. Derivative instruments may be used to hedge against losses, however these positions can potentially offset gains. The Fund may be required to segregates assets or enter into offsetting positions in connections with investments in derivatives but these may not limit exposure to loss.

The Fund's investment in foreign securities may be affected by changes in exchange control regulations, application of foreign tax laws, changes in governmental administration, economic, or monetary policy, currency fluctuations relative to the U.S. dollar and changed circumstances between nations. In addition to these risks, countries with emerging markets 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

Changes in foreign currency exchange rates will affect the value of what the Fund owns and the price of the Fund's shares. Generally, when the U.S. dollar rises in value against a foreign currency, an investment in that country loses value because that currency is worth fewer U.S. dollars. Derivative instruments involve risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments.

Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards. Investments in gold-related securities, such as ETFs and forward and futures contracts, may subject the Fund to greater volatility than investments in traditional securities.

When the Fund invests in fixed income, the value of your investment will fluctuate with changes in interest rates. Lower-quality bonds, known as "high yield" or "junk" bonds, present a greater risk than bonds of higher quality, including an increase of default, maturity length, prepayment, and credit risk. The use of leverage, such as borrowing money to purchase securities, will magnify the Fund's gains or losses. Non-diversification risk, as the Funds are more vulnerable to events affecting a single issuer. Increased portfolio turnover may result in higher brokerage commissions, dealer mark-ups and other transaction costs and may result in taxable capital gains. The Fund's investments in a sector bear the risk that securities within the same group of industries will decline in price due to sector-specific market or economic developments. The Fund (and the Underlying Funds) may engage in short selling activities, which are more risky than "long" positions (purchases) because the cost of the replacement security or instrument is unknown. Debit issuers may not make interest and principal payments on securities held by the Fund, resulting in losses. Mutual funds, closed-end funds and ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in other investment companies and may be higher than other mutual funds that invest directly in stocks and bonds. For a Fund using a sub-advisor, the sub-advisor’s methodology may produce incorrect judgements about the attractiveness, relative value and potential appreciation of an investment.

This and other information about the CMG Family of Funds is contained in each fund's prospectus, which can be obtained by calling 1-866-CMG-9456 (1-866-264-9456). Please read the prospectus carefully before investing. The CMG Mauldin Core Fund™, the CMG Tactical All Asset Strategy Fund™, and the CMG Tactical Bond Fund™ are distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. CMG Capital Management Group, Inc. is not affiliated with Northern Lights Distributors, Inc.

3647-NLD-7/10/2018