S.T.A.R. Factsheet - Mutual Fund

Astor Investment Management
S.T.A.R. ETF FUND featuring AlphaDEX®
As of September 30, 2014
Portfolio Managers: Rob Stein, Bryan Novak & John Eckstein
FUND STRATEGY
The Astor S.T.A.R. ETF Fund featuring AlphaDEX® is designed to replace traditional equity
funds in a portfolio. Using a fundamental economic approach, the program will
opportunistically invest in sectors and assets which have the potential to outperform
broader market indices. Primarily using ETFs, the program will seek to take advantage of
the cyclical nature of markets with a focus on return potential and volatility reduction.
The program does not invest in inverse ETFs. However, at times, it may hold a significant
amount of cash and fixed income if warranted by macroeconomic indicators.
PORTFOLIO MANAGEMENT
Astor Investment Management is the investment Advisor to the Astor funds. Astor is a
money manager specializing in an active approach to investing. We believe that
investment opportunities arise based on the ability to identify fundamental trends and
changes in the economic environment. Our investment philosophy revolves around
identifying the current phase that an asset class or economy is experiencing of its cycle
and investing accordingly using exchange-traded funds.
FUND PERFORMANCE
Period*
Class A
(NAV)
-4.11%
Class A
(Load)
-8.66%
Class C
(NAV)
-4.12%
S&P 500
Index
-1.40%
CLASS A • 66537Y835 • ASPGX
CLASS C • 66537Y819 • CSPGX
CLASS I • 66537Y793 • STARX
PORTFOLIO DISTRIBUTION
STYLE
EQUITY
CASH &
FIXED INCOME
2%
30%
SECTOR
EQUITY
68%
TOP 10 HOLDINGS
First Trust Technology
FXL
13.0%
AlphaDEX® Fund
3-Month
-3.60%
-8.20%
-3.73%
1.13%
First Trust Financial
FXO
12.0%
AlphaDEX® Fund
6-Month
0.63%
-4.18%
0.28%
6.42%
First Trust Large Cap Core
YTD
2.85%
-2.03%
2.31%
8.34%
FEX
10.0%
AlphaDEX® Fund
1-Year
10.83%
5.57%
10.09%
19.73%
First Trust Mid Cap Core
FNX
9.9%
AlphaDEX® Fund
2-Year
16.79%
14.00%
16.00%
19.54%
First Trust Small Cap Core
FYX
9.9%
Since Inception
14.38%
12.42%
13.56%
N/A
AlphaDEX® Fund
Inception Date
11/30/11
11/30/11
11/30/11
N/A
First Trust Health Care
FXH
8.0%
AlphaDEX® Fund
Net Expense
1.50%
1.50%
2.25%
N/A
First Trust Energy
*Returns for periods greater than one year are annualized.
FXN
7.8%
AlphaDEX® Fund
The performance data quoted here represents past performance. Current performance may be lower or higher
First Trust Consumer
than the performance data quoted above. Investment return and principal value will fluctuate, so that shares,
7.4%
Discretionary
AlphaDEX® Fund FXD
when redeemed, may be worth more or less than their original cost. Past performance is no guarantee of future
results. The Fund’s investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the
First Trust Industrials/Producer FXR
7.0%
Fund, at least until November 30, 2014, to ensure that the net annual fund operating expenses will not exceed
Durables AlphaDEX® Fund
1.50% and 2.25% of each class’s net assets, for Class A and C shares, respectively, subject to possible recoupment
First Trust Consumer Staples
FXG
6.6%
from the Fund in future years. Without the waiver, total annual operating expenses would be 2.98% and 3.73% for
AlphaDEX® Fund
Class A and C respectively. Please review the Funds’ prospectus for more detail on the expense waiver. Results
Portfolio holdings are subject to change and should
shown reflect the waiver, without which the results could have been lower. A Fund’s performance, especially for
not be considered investment advice.
very short periods of time, should not be the sole factor in making your investment decisions.
1-Month
Astor Investment Management
111 S. Wacker Drive, Suite 3950
Chicago, Illinois 60606
www.astorim.com
800.899.8230
PORTFOLIO MANAGERS
Rob Stein began his career in 1983 as a project analyst for the Federal Reserve, under the chairmanship of Paul
Volcker. From there, he went on to hold senior trading or portfolio management positions with Bank of America
New York, Harris Bank Chicago and Bank of America Chicago. Beginning in 1991, Mr. Stein also served as the
Managing Director of Proprietary Trading for Barclay’s Bank PLC New York. Returning to Chicago in 1994, he
formed Astor Financial, Inc., an investment and brokerage firm. Mr. Stein later formed Astor Asset Management
LLC, formerly a division of Astor Financial, which became a registered investment advisory firm with the SEC in
2001. Mr. Stein is the author of three books, including The Bull Inside the Bear: Finding New Investment
Opportunities in Today’s Fast-Changing Financial Markets (John Wiley & Sons, 2009). He is regularly featured in
print and broadcast media such as the Wall Street Journal, Business Week, Investor’s Business Daily, ABC, FOX
News, Bloomberg and CNBC. Mr. Stein graduated from the University of Michigan.
Bryan Novak joined Astor in 2002 and currently serves as Director of Trading. He is responsible for assisting in
all money management decisions made by Astor and oversees the firm’s trading operations. Mr. Novak has been
involved in the research and development of the trading and investment strategies at the firm. He was
instrumental in the launch of the firm’s mutual fund in 2009 and has served as part of the portfolio management
team since 2004. Prior to Astor, Mr. Novak was a trader for Second City Trading, LLC, an equity option marketmaking firm, at the Chicago Board Options Exchange. He was involved in the firm’s implementation of their
screen-based trading platform and was a market maker on the floor of the CBOE. Mr. Novak has experience
trading in securities markets from equities, equity derivatives, futures and commodity markets as well as
pre-public equity investment structures. Mr. Novak earned his Bachelor of Science in Financial Management from
the Ohio State University and is a Level I CAIA canidate.
John Eckstein joined Astor as Director of Research in 2011. He serves on the firm’s investment committee and is
responsible for international global macro strategies, investment strategies based on a systematic analysis of the
worldwide macroeconomic environment. In 1995, Mr. Eckstein founded Cornerstone Quantitative Investment
Group, a global macro hedge fund with peak assets of $600 million. At Cornerstone, Mr. Eckstein was responsible
for all aspects of the firm’s operations including fixed income, currency, commodity and equity portfolios. Prior to
Cornerstone, Mr. Eckstein was a researcher for Luck Trading Company, a commodity trading adviser. Mr. Eckstein
is a co-author of Commodity Investing: Maximizing Returns through Fundamental Analysis (John Wiley & Sons,
2008) and is a frequent speaker at industry events. He holds a Bachelor of Science from Brown University and is a
candidate for a Master in Public Administration in International Economic Policy at Columbia University.
Fund Holdings Information: The fund holdings are reported as a percentage of total assets. The top holdings, industry sectors, and asset allocation are presented to
illustrate examples of the securities that the fund has bought and the diversity of areas in which the funds may invest, and may not be representative of the fund’s
current or future investment. The top holdings do not include money market instruments.
Benchmark Information: The benchmark is the S&P 500 Index. The performance of the S&P 500 Index is shown for comparison because Astor uses index instruments
tied to these products. Although the Programs invest in securities which may invest in assets besides equity securities and may invest in assets that move inversely with
equities, the performance of the S&P 500 is presented because it is a widely used benchmark and indicator of market performance. The volatility of the index is
materially different from the historical returns of the program. S&P 500 annual returns are calculated using S&P cash monthly prices with dividends reinvested. The S&P
500 Index is an unmanaged composite of 500 large capitalization companies. S&P 500 is a registered trademark of McGraw-Hill, Inc. An investment cannot be made
directly into an index.
An investor should consider the Astor funds’ investment objectives, risks, charges, and expenses carefully before investing. This and other
information about the Astor funds are contained in the funds’ prospectus, which can be obtained by calling (877) 380-0333. Please read the
prospectus carefully before investing. The funds are distributed by Northern Lights Distributors, LLC a FINRA/SIPC member.
Mutual funds involve risk including the possible loss of principal.
The Fund seeks to achieve its investment objective by primarily investing in exchange-traded funds (ETFs). An ETF is a type of investment company
whose investment objective is to achieve the same return as a particular market index. An ETF will invest in either all of the securities or a representative sample of the securities included in the index. ETFs and 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 ETFs or underlying funds
and may be higher than other mutual funds that invest directly in stocks, bonds or other assets.
The fund may purchase ETFs and underlying funds that invest in “alternative asset” or “specialty” market segments. The risks and volatility of these
investments are linked to narrow segments of the economy such as commodities, real estate, or currency exchange rates and may include leverage,
which magnifies the changes in the value of the ETF or underlying fund. When the fund invests in fixed-income ETFs or underlying funds the value of
your investment in the funds will fluctuate with changes in interest rates. Debt issuers may not make interest or principal payments, resulting in
losses to the funds. In addition, the credit quality of securities held by an ETF or underlying fund may be lowered if an issuer’s financial condition
changes.
Astor Investment Management is not affiliated with Northern Lights Distributors, LLC.
209141-168/3338-NLD-10/09/2014
Astor Investment Management
111 S. Wacker Drive, Suite 3950
Chicago, Illinois 60606
www.astorim.com
800.899.8230

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