Trilogy Alternative Return Fund
The investment objective of the North Square Trilogy Alternative Return Fund is total return, with an emphasis on lower risk and volatility than the U.S. equity markets.
Multiple strategies are blended to reduce risk in changing market conditions.
Three Distinct and Complementary Non-leveraged Option Strategies
1. Acquire dividend payers and protect with collar
• An Alternative Strategy
• Trilogy Alternative Return Fund Structure: Three Distinct and Complementary Non-leveraged Option Strategies
2. Acquire fixed income and seek premium income
• High quality, low duration fixed income used as collateral
• Sell options, seeking to capitalize on equity volatility
• Buy protection on the full notional amount of sold options to limit potential losses
3. Employ options to seek to benefit from market moves up or down
• Seek to profit from long term fundamental market moves
• May contribute in both up and down markets
Mutual Fund and ETF Risk
The Fund’s investment in ETFs and mutual funds (including other funds managed by the Sub-Adviser) generally reflects the risks of owning the underlying securities the ETF or mutual fund holds. An ETF may also trade at a discount to its net asset value. For example, where all or a portion of an ETF’s underlying securities trade in a market that is closed when the market in which the ETF’s shares are listed and trading in that market is open, there may be changes between the last quote from its closed foreign market and the value of such security during the ETF’s domestic trading day. This could, in turn, result in differences between the market price of the ETF’s shares and the underlying value of those shares. The Fund will pay brokerage commissions in connection with the purchase and sale of shares of ETFs. In addition, the Fund may invest in underlying funds which invest a larger portion of their assets in one or more sectors than many other mutual funds, and thus will be more susceptible to negative events affecting those sectors.
There is no guarantee that this investment strategy will succeed, the strategy is not an indicator of future performance and investment results may vary. The investment strategy presented is not appropriate for every investor and individual clients should review with their financial advisors the terms and conditions and risk involved with specific products or services. Stadion’s actively managed portfolios may underperform during bull markets. Derivative instruments may be difficult to value and may be subject to wide swings in valuations caused by changes in the value of the underlying instrument. The use of these instruments requires special skills and knowledge of investment techniques that are different than those normally required for purchasing and selling securities. The portfolio could also experience losses if it is unable to close out a position because the market for an instrument or position is or becomes illiquid. Negative returns may occur in any type of market.
Collar: A protective option strategy created by purchasing an out of the money put option while simultaneously writing an out of the money call option.
Effective June 2021, the name of the Stadion Trilogy Alternative Return Fund was changed to the North Square Trilogy Alternative Return Fund.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling 855-551-5521. Please read the prospectus carefully before you invest.
Distributed by Compass Distributors, LLC. Member FINRA.
|Class||Ticker||Net Expense*||Gross Expense|
*The Fund’s investment adviser has contractually agreed to waive its fees and/or pay for or reimburse operating expenses of the Fund to ensure that total annual fund operating expenses (excluding any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, any acquired fund fees and expenses, expenses incurred in connection with any merger or reorganization, extraordinary expenses such as litigation expenses, and payments, if any, under a Rule 12b-1 Distribution Plan) do not exceed 1.38%, 1.38% and 1.38% of the average daily net assets of the Fund’s Class A, Class C and Class I shares, respectively until January 19, 2023. The Expense Limitation Agreement may be terminated before that date only by the Board of Trustees. The Advisor is permitted to seek reimbursement from the Fund, for three years from the date of any such waiver or payment to the extent a class’s total annual fund operating expenses do not exceed the limits described above. Please see the fund’s prospectus for additional information.