class a: etamx | class c: etcmx | class i: etimx | class ......2018/03/31  · class a: etamx |...

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The Eventide Multi-Asset Income Fund is a diversified mutual fund seeking to provide attractive levels of current income with the added objective of long-term capital appreciation. The fund seeks to achieve its objectives by balancing exposure between fixed-income, equity-income, and alternative income categories. The fund invests in securities of companies and other entities that we believe demonstrate values and business practices that are ethical, sustainable, and provide an attractive investment opportunity. Class A: ETAMX | Class C: ETCMX | Class I: ETIMX | Class N: ETNMX MULTI-ASSET INCOME FUND Summary sheet: 31 March 2018, page 1 of 2 Performance is historical and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed shares may be worth more or less than their original cost. Current performance may be lower or higher than the data quoted. Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses, or sales charges. To obtain the most recent month-end performance information and a current Eventide Multi-Asset Income Fund prospectus please call the fund toll free at 1-877-771-EVEN (3836). Dividend and Capital Gains April 2016–Mar 2018 Distributions, ETNMX2,3 Distribution Period Total Income Quarter End NAV⁴ 1Q 2018 $0.0919 $0.0919 3/31/2018 $10.62 4Q 2017 $0.2240 $0.0715 12/31/2017 $11.14 3Q 2017 $0.0776 $0.0776 9/30/2017 $11.23 2Q 2017 $0.1010 $0.1010 6/30/2017 $11.05 1Q 2017 $0.0712 $0.0696 3/31/2017 $10.77 4Q 2016 $0.0881 $0.0736 12/31/2016 $10.40 3Q 2016 $0.0558 $0.0411 9/30/2016 $10.65 2Q 2016 $0.0630 $0.0630 6/30/2016 $10.22 Trailing 12-month Yield (as of 3/31/2018): 3.16% Fund Returns2 31 Mar 2018 Eventide Multi-Asset Since Income Fund YTD 1-year Inception⁶ Class N -3.86% 3.08% 5.32% Class A without load -3.87% 3.03% 5.26% Class A with load -9.40% -2.92% 2.99% Class C -4.05% 2.29% 4.50% Class I -3.82% 3.26% 5.51% Benchmarks Multi-Asset Income Blend⁷ -1.13% 9.25% 5.89% MSCI ACWI (Net)⁷ -1.03% 14.76% 8.32% 1. Does not include money market funds. Based on percentage of net assets. Holdings can change at any time and should not be considered investment advice. 2. The numbers shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. 3. The table displays the Eventide Multi-Asset Income Fund Class N’s dividend and capital gains distributions for the periods shown. The distributions will differ for other fund classes, based upon fees and commissions. The total distribution may represent dividend and interest income, capital gains, and/or return of capital. Shareholders should not assume that the source of a distribution from the fund is net profit. As of 3/31/18, the distributions represented contain no return of capital. The characterization of income is an estimate only and subject to change for tax purposes. 4. NAV presented is as of the date of the respective quarter end. 5. Source: Morningstar, Inc. 6. Performance figures for periods greater than 1 year are annualized. Annualized since inception returns assume an inception date of July 15, 2015. 7. The Multi-Asset Income Blend is a proprietary Eventide benchmark based on 60% MSCI All Country World Index (Net), 40% Bloomberg Barclays US Aggregate Bond Index © at inception, rebalanced monthly. The MSCI All-Country World Index (Net) captures large and mid cap representation across 23 developed markets and 23 emerging markets. The volatility of the indices may be materially different than that of the fund, and investors should not expect the fund to achieve the same results as the indices listed. Annual Returns 31 Mar 2018 Year Eventide Multi-Asset MSCI ACWI Multi-Asset Income Fund Class N (Net)Income Blend2017 11.79% 23.97% 15.41% 2016 8.99% 7.86% 5.92% TOP HOLDINGS1 Brookfield Renewable Partners LP (2.66%) Wind, hydropower facilities in Europe and the Americas NextEra Energy Partners LP (2.29%) Yieldco for clean energy projects with stable cash flows First Hawaiian Inc (2.13%) Hawaii’s oldest and largest bank, offering diversified banking services Johnson Controls International plc (1.99%) HVAC, building controls, fire safety, and battery solutions ABB Ltd (1.90%) Power systems, automation, and robotics for industrial applications Schneider Electric SE (1.85%) Global specialist in energy management and automation Munich RE (1.78%) One of the largest reinsurance companies in the world, based in Germany Spectra Energy Partners LP (1.77%) Energy infrastructure for transport and storage of natural gas Macquarie Infrastructure Corp (1.76%) Aircraft services, liquid storage, and marine terminals Honda Motor Co Ltd (1.72%) Multi-national manufacturing conglomerate

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Page 1: Class A: ETAMX | Class C: ETCMX | Class I: ETIMX | Class ......2018/03/31  · Class A: ETAMX | Class C: ETCMX | Class I: ETIMX | Class N: ETNMX MULTI-ASSET INCOME FUND Summary sheet:

The Eventide Multi-Asset Income

Fund is a diversified mutual fund

seeking to provide attractive levels

of current income with the added

objective of long-term capital

appreciation. The fund seeks to

achieve its objectives by balancing

exposure between fixed-income,

equity-income, and alternative

income categories.

The fund invests in securities of

companies and other entities that

we believe demonstrate values and

business practices that are ethical,

sustainable, and provide an

attractive investment opportunity.

Class A: E T A M X | Class C: E T C M X | Class I: E T I M X | Class N: E T N M X

M U LT I - A S S E T I N C O M E F U N DSummary sheet: 31 March 2018, page 1 of 2

Performance is historical and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed shares may be worth more or less than their original cost. Current performance may be lower or higher than the data quoted. Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses, or sales charges. To obtain the most recent month-end performance information and a current Eventide Multi-Asset Income Fund prospectus please call the fund toll free at 1-877-771-EVEN (3836).

Dividend and Capital Gains April 2016–Mar 2018Distributions, ETNMX2,3 Distribution Period Total Income Quarter End NAV⁴1Q 2018 $0.0919 $0.0919 3/31/2018 $10.624Q 2017 $0.2240 $0.0715 12/31/2017 $11.143Q 2017 $0.0776 $0.0776 9/30/2017 $11.232Q 2017 $0.1010 $0.1010 6/30/2017 $11.051Q 2017 $0.0712 $0.0696 3/31/2017 $10.774Q 2016 $0.0881 $0.0736 12/31/2016 $10.403Q 2016 $0.0558 $0.0411 9/30/2016 $10.652Q 2016 $0.0630 $0.0630 6/30/2016 $10.22

Trailing 12-month Yield (as of 3/31/2018): 3.16%

Fund Returns2 31 Mar 2018

Eventide Multi-Asset Since Income Fund YTD 1-year Inception⁶

Class N -3.86% 3.08% 5.32%Class A without load -3.87% 3.03% 5.26%Class A with load -9.40% -2.92% 2.99%Class C -4.05% 2.29% 4.50%Class I -3.82% 3.26% 5.51%

Benchmarks

Multi-Asset Income Blend⁷ -1.13% 9.25% 5.89%MSCI ACWI (Net)⁷ -1.03% 14.76% 8.32%

1. Does not include money market funds. Based on percentage of net assets. Holdings can change at any time and should not be considered investment advice.

2. The numbers shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes.

3. The table displays the Eventide Multi-Asset Income Fund Class N’s dividend and capital gains distributions for the periods shown. The distributions will differ for other fund classes, based upon fees and commissions. The total distribution may represent dividend and interest income, capital gains, and/or return of capital. Shareholders should not assume that the source of a distribution from the fund is net profit. As of 3/31/18, the distributions represented contain no return of capital. The characterization of income is an estimate only and subject to change for tax purposes.

4. NAV presented is as of the date of the respective quarter end. 5. Source: Morningstar, Inc. 6. Performance figures for periods greater than 1 year are annualized. Annualized since inception returns assume an

inception date of July 15, 2015. 7. The Multi-Asset Income Blend is a proprietary Eventide benchmark based on 60% MSCI All Country World Index

(Net), 40% Bloomberg Barclays US Aggregate Bond Index © at inception, rebalanced monthly. The MSCI All-Country World Index (Net) captures large and mid cap representation across 23 developed markets and 23 emerging markets. The volatility of the indices may be materially different than that of the fund, and investors should not expect the fund to achieve the same results as the indices listed.

Annual Returns 31 Mar 2018

Year Eventide Multi-Asset MSCI ACWI Multi-Asset Income Fund Class N (Net)⁷ Income Blend⁷2017 11.79% 23.97% 15.41%2016 8.99% 7.86% 5.92%

T O P H O L D I N G S 1Brook�eld Renewable Partners LP (2.66%) Wind, hydropower facilities in Europe and the AmericasNextEra Energy Partners LP (2.29%) Yieldco for clean energy projects with stable cash flowsFirst Hawaiian Inc (2.13%) Hawaii’s oldest and largest bank, offering diversified banking servicesJohnson Controls International plc (1.99%) HVAC, building controls, fire safety, and battery solutionsABB Ltd (1.90%) Power systems, automation, and robotics for industrial applications

Schneider Electric SE (1.85%) Global specialist in energy management and automationMunich RE (1.78%) One of the largest reinsurance companies in the world, based in GermanySpectra Energy Partners LP (1.77%) Energy infrastructure for transport and storage of natural gasMacquarie Infrastructure Corp (1.76%) Aircraft services, liquid storage, and marine terminalsHonda Motor Co Ltd (1.72%) Multi-national manufacturing conglomerate

Page 2: Class A: ETAMX | Class C: ETCMX | Class I: ETIMX | Class ......2018/03/31  · Class A: ETAMX | Class C: ETCMX | Class I: ETIMX | Class N: ETNMX MULTI-ASSET INCOME FUND Summary sheet:

Class A: E T A M X | Class C: E T C M X | Class I: E T I M X | Class N: E T N M X

M U LT I - A S S E T I N C O M E F U N D Summary sheet: 31 March 2018, page 2 of 2

4395-NLD-4/10/2018

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Market Risk5 Std. Dev. Beta Alpha R-Squared 3-year Inception⁶ 3-year Inception⁶ 3-year Inception⁶ 3-year Inception⁶Eventide Multi-Asset Income N — 6.78 — 0.49 — -0.14 — 60.31Multi-Asset Income Blend — 6.82 — 0.59 — -0.81 — 86.90MSCI ACWI (Net) — 11.30 — 1.01 — -2.38 — 92.30

Eventide Asset Management, LLC | One International Place, Suite 3510 | Boston MA 02110 | 877-771-EVEN (3836) | W W W . E V E N T I D E F U N D S . C O M

M A N A G E R S Martin Wildy, CFA serves on Eventide’s portfolio management team as the lead portfolio manager for the Eventide Multi- Asset Income Fund. Prior to joining Eventide in 2015, Mr. Wildy was a senior portfolio manager with Aris Wealth Services, a division of AssetMark, Inc. where he worked since 2006. Mr. Wildy served on Aris’s Investment Committee and was responsible for investment decisions that impacted a number of the firm’s investment strategies, including Aris’ Income Builder and values-based portfolios. In his role, Mr. Wildy’s responsibilities included developing capital market assumptions, asset allocation decisions, investment due diligence, and portfolio manage-ment. Mr. Wildy holds a bachelor’s degree from the Pennsylvania State University in Finance and has held the Chartered Financial Analyst (CFA) designation since 2003. David M. Dirk, CFA serves as the Portfolio Manager for some or all of the fund’s intermediate-term bond portion. Mr. Dirk has been co-director of fixed Income for the fund’s sub-advisor, Boyd Watterson, with responsibility of directing all portfolio management and trading activity since 2011. This includes the implementation, execution, and evaluation of all strategies across Boyd Watterson’s suite of fixed income products. Mr. Dirk joined Duff & Phelps, predecessor to Boyd Watterson Asset Management, in 1996. David holds a CFA Charter from CFA Institute, an MBA from Case Western Reserve University, and a BA from Baldwin-Wallace College. He is also a member of the CFA Society of Cleveland and CFA Institute.

Industrials 18.39Financials 15.63Real Estate 13.75Yield Co 11.84Consumer 11.05Utilities 7.16Govt Agency 4.02Impact Bonds 3.47Information Tech 2.79Municipals 2.40Energy 1.89Health Care 1.89Cash/Other 5.72

Sector Allocation4 % of portfolio

Foreign Equities 28.80US Equities 16.19Corporate Bonds 13.38Partnership Shares 9.48REITs 6.99Preferred Shares 6.70MBS 4.12Impact Bonds 3.47Convertibles 2.75Municipals 2.40Cash/Other 5.72

Asset Class Allocation4 % of portfolio

1. Class A is also subject to a maximum deferred sales charge of 1.00% 2. Acquired Fund Fees and Expenses 3. The advisor has contractually agreed to waive fees and/or reimburse

expenses of the fund through 31 October 2018. The agreement may only be terminated by the fund’s Board of Trustees on 60 days’ written notice.

4. Fund allocation percentages are subject to change at any time, and should not be considered investment advice.

5. Source: © Morningstar, Inc. (2018). All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Prior to June 30, 2017, this summary sheet sourced market risk data from Zephyr StyleADVISOR. Other updates to this summary sheet include information intended to help investors assess performance and risk

factors associated with the fund’s benchmarks. The performance and risk factor comparisons are against the S&P 500 Total Return Index (“Index”). Alpha is a measure of performance on a risk-adjusted basis. It takes the volatility (price risk) of a fund and compares its risk-adjusted performance to the Index. Any excess return of the fund relative to the return of the Index is a fund’s alpha. Beta is a measure of the volatility of a fund relative to the Index. A beta greater than 1 is more volatile than the Index. R-Squared measures how a fund’s performance correlates with the Index’s performance and it can help assess how likely it is that beta is statistically significant. Standard Deviation of return measures the amount of variation in historical performance from period to period.

6. Since inception market risk details assume inception date of 1 August 2015 and not Class N’s actual inception date of 15 July 2015, as only full month data is included in the market risk calculations.

Mutual funds involve risk including the possible loss of principal. Past performance does not guarantee future results. The fund’s ethical values screening criteria could cause it to under-perform similar funds that do not have such screening criteria. The fund can have risk related to option investing. There are special risks associated with investments in foreign companies including exposure to currency fluctuations, less efficient trading markets, political instability and differing auditing and legal standards. Investors in the Eventide Multi-Asset Income Fund should be aware that interest rates are at historic lows and may change at any time based on government policy. In general, the price of a fixed income security falls when interest rates rise. A rise in interest rates may result in volatility and increased redemptions, which in turn could result in the fund being forced to liquidate portfolio securities at disadvantageous prices. Longer term securities may be more sensitive to changes in interest rates. The intermediate-term bond portion of the fund’s portfolio may represent 0% to 100% of the fund’s portfolio with an average duration of between two and eight years. The fund may invest in other funds. If other funds are utilized, such underlying funds are subject to investment advisory and other expenses, which will be indirectly paid by the fund. As a result, your cost of investing in the fund will be higher than the cost of investing directly in underlying funds and may be higher than other mutual funds that do not invest in underlying funds. The fund may invest, directly or indirectly, in “junk bonds.” Such securities are speculative investments that carry greater risks than higher quality debt securities. There are unique risks associated with REITs, MLPs, preferred stocks, convertible bonds, BDCs, and yieldcos that are covered in the fund’s prospectus and SAI.

An investor should consider a fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information can be found in the prospectus, which can be obtained at www.eventidefunds.com or by calling 1-877-771-EVEN (3836). Please read the prospectus carefully before investing. Eventide Mutual Funds are distributed by Northern Lights Distributors, LLC, Member FINRA, which is not affiliated with Eventide Asset Management, LLC.

O V E R V I E W

Fund Nasdaq Maximum Sales Charge 12b-1 Fees AFFE² Gross Expenses³ Net Expenses

Class A ETAMX Front-end¹: 5.75% 0.25% 0.31% 1.73% 1.51%Class C ETCMX None 1.00% 0.31% 2.48% 2.26%Class I ETIMX None 0.00% 0.31% 1.48% 1.26%Class N ETNMX None 0.20% 0.31% 1.68% 1.46%

Minimum Investment: $1,000 or $100 with AIP (Class A, C, N), $100,000 (Class I)Net Assets: $105 million Inception Date: 7/15/2015