Rational Income Opportunities Fund

Rational Income Opportunities Fund

Overview

RTFAX | RTFCX | RTFIX

The Fund seeks to provide current income.

Investment Strategy

The Fund is an alternative, tactically-managed, fixed income credit fund employing strategies that focus on generating stable income while mitigating risks and market volatility.

The Fund seeks to achieve the investment objective by investing primarily in CMBS and other commercial real estate related securities, such as REITs.

The Fund utilizes a tactical investment strategy that leverages managers commercial real estate experience with structured credits with a focus on opportunistic entry points for investing.

Employs its comprehensive due diligence process on the underlying collateral of each investment, including, but not limited to, analysis of property cash flows, competitive sub-market, potential lease rollovers, capital expenditures budgets, and bond cash flows.

Reasons to Invest

Risk Managed Approach

Seeks Current Income

Past performance is not a guarantee of future results.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Rational Funds. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling (800) 253-0412 or at www.RationalMF.com. The prospectus should be read carefully before investing. The Rational Funds are distributed by Northern Lights Distributors, LLC member FINRA/SIPC. Rational Advisors, Inc. and Cicero Capital Partners, LLC are not affiliated with Northern Lights Distributors, LLC.

Investing in the Fund carries certain risks. The value of the Fund may decrease in response to the activities and financial prospects of an individual security in the Fund’s portfolio. Because the Advisor is primarily responsible for managing both the Fund and certain Underlying Funds, the Advisor is subject to conflict of interest with respect to how it allocates the Fund’s assets among the Underlying Funds. Investing in the commodities markets (directly or indirectly) may subject the Fund to greater volatility than investments in traditional securities. Commodity prices may be influenced by unfavorable weather, animal and plant disease, geologic and environmental factors as well as changes in government regulation such as tariffs, embargoes or burdensome production rules and restrictions. Derivatives are investments in which the value is “derived” from the value of an underlying asset, reference rate, or index. The value of derivatives may rise or fall more rapidly than other investments. For some derivatives, it is possible to lose more than the amount invested in the derivative. If the Fund uses derivatives to “hedge” the overall risk of its portfolio, it is possible that the hedge may not succeed. Options involve risks that are not suitable for all investors. No strategy, including option strategies, can eliminate risk. Options strategies in particular may result in the total loss of principal over a short period of time. An investment in an exchange-traded fund (ETF) generally presents the same primary risks as an investment in a conventional fund that has the same investment objectives, strategies, and policies. In addition, ETFs may be subject to the following risks that do not apply to conventional funds: the market price of an ETF’s shares may trade above or below their net asset value; an active trading market for an ETF’s shares may not develop or be maintained; trading of an ETF’s shares may be halted if the listing exchange’s officials deem such action appropriate, the shares are delisted from the exchange, or the activation of market-wide circuit breakers halts stock trading generally. Because the Fund may invest its assets in underlying mutual funds or ETFs that have their own fees and expenses in addition to those charge directly by the Fund, the Fund may bear higher expenses than a Fund that invests directly in individual securities. Emerging market securities tend to be more volatile and less liquid than securities traded in developed countries. The Fund is non-diversified and may invest a greater percentage of its assets in a particular issue and may own fewer securities than other mutual funds.

4483-NLD-4/20/2018

Fund Documents

Fact Sheet
Prospectus
Summary Prospectus
SAI
News
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