# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0001580642-26-000864
**Filing Date:** 2026-2
**Character Count:** 30304
**Document Hash:** ffaf496fbd682e88ca4ecf6a39f5f4b8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-26-000864.hdr.sgml**: 20260206

**ACCESSION NUMBER**: 0001580642-26-000864

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260206

**DATE AS OF CHANGE**: 20260206

**EFFECTIVENESS DATE**: 20260206

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Northern Lights Fund Trust
- **CENTRAL INDEX KEY:** 0001314414

**ORGANIZATION NAME:**
- **EIN:** 043023766
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-122917
- **FILM NUMBER:** 26605934

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2600

**MAIL ADDRESS:**
- **STREET 1:** 17605 WRIGHT STREET
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68130

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Strategy Shares
- **DATE OF NAME CHANGE:** 20160223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mutual Fund & Variable Insurance Trust
- **DATE OF NAME CHANGE:** 20160223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Northern Lights Fund Trust
- **DATE OF NAME CHANGE:** 20050121

## Series and Classes Contracts Data

### Ocean Park Tactical All Asset Fund (Series ID: S000020016)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000056130 | Ocean Park Tactical All Asset Fund Class A         | SIRAX           |
| C000056131 | Ocean Park Tactical All Asset Fund Investor Class  | SIRIX           |
| C000056132 | Ocean Park Tactical All Asset Fund Instl Class     | SIRRX           |
| C000084926 | Ocean Park Tactical All Asset Fund Class C         | SIRCX           |
| C000115425 | Ocean Park Tactical All Asset Fund Class A1 shares | SIRZX           |
| C000115426 | Ocean Park Tactical All Asset Fund Class I1 shares | SIRJX           |

*Ocean Park Tactical All Asset Fund*

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Class A Shares** | &nbsp;&nbsp;**SIRAX** |
| &nbsp;&nbsp;**Class C Shares** | &nbsp;&nbsp;**SIRCX** |
| &nbsp;&nbsp;**Investor Class** | &nbsp;&nbsp;**SIRIX** |
| &nbsp;&nbsp;**Instl Class** | &nbsp;&nbsp;**SIRRX** |
| &nbsp;&nbsp;**Class A1 Shares** | &nbsp;&nbsp;**SIRZX** |
| &nbsp;&nbsp;**Class I1 Shares** | &nbsp;&nbsp;**SIRJX** |

---

**Summary Prospectus**

**January 28, 2026**

Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. The Fund's prospectus and Statement of Additional Information, both dated January 28, 2026, along with the Fund's annual report dated September 30, 2025, are incorporated by reference into this Summary Prospectus. You can obtain these documents and other information about the Fund online at www.oceanparkmutualfunds.com/fund-documents/. You can also obtain these documents at no cost by calling 1-866-738-4363 or by sending an email request to fulfillment@ultimusfundsolutions.com.

**Investment Objectives:** The Fund has two objectives, to provide total return and to limit exposure to downside risk.

**Fees and Expenses of the Fund:** This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales charge discounts on purchases of Class A and Class A1 shares if you and your family invest, or agree to invest in the future, at least $100,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in **How to Purchase Shares** on page 62 of the Prospectus and **Purchase, Redemption and Pricing of Share** on page 56 of the Statement of Additional Information.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**<br> Shareholder Fees**<br> (fees paid directly from your investment) | **Class<br> A** | **Class<br> A1** | **Class<br> C** | **Investor Class** | **Class<br> I1** | **Instl Class** |
| &nbsp;&nbsp;&nbsp;Maximum Sales Charge (Load) <br> Imposed on Purchases (as a % of offering price) | 3.75% | 3.75% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Maximum Deferred Sales Charge (Load)<br> (as a % of the lower of original purchase price <br> or redemption proceeds) | 1.00% | 1.00% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Maximum Sales Charge (Load) <br> Imposed on Reinvested Dividends and other Distributions |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Redemption Fee<br> (as a % of amount redeemed, if applicable) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Annual Fund Operating Expenses**<br> (expenses that you pay each year as a <br> percentage of the value of your investment) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Management Fees | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% |
| &nbsp;&nbsp;&nbsp;Distribution and/or Service (12b-1) Fees | 0.25% | 0.40% | 1.00% | 0.25% | 0.40% |  |
| &nbsp;&nbsp;&nbsp;Other Expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| &nbsp;&nbsp;&nbsp;Acquired Fund Fees and Expenses<sup>(1)</sup> | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% | 0.42% |
| &nbsp;&nbsp;&nbsp;Total Annual Fund Operating Expenses | 2.17% | 2.32% | 2.92% | 2.17% | 2.32% | 1.92% |

---

(1) Acquired Fund Fees and Expenses are the estimated average indirect costs of investing in other investment
companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because
the financial statements include only the direct operating expenses incurred by the Fund.

 ****

***Example:*** This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **<u>Class</u>** | **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Class A | $587 | $1029 | $1496 | $2784 |
| Class A1 | $601 | $1072 | $1569 | $2931 |
| Class C | $295 | $904 | $1538 | $3242 |
| Investor Class | $220 | $679 | $1164 | $2503 |
| Class I1 | $235 | $724 | $1240 | $2656 |
| Institutional Class | $195 | $603 | $1037 | $2243 |

---

 ****

***Portfolio Turnover:*** The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 164% of the average value of its portfolio.

**Principal Investment Strategies:** 

The Fund utilizes a 'fund of funds" structure to access a wide variety of underlying asset classes and strategies. Ocean Park Asset Management, LLC ("the Adviser") seeks to achieve the Fund's investment objectives by investing in mutual funds and exchange-traded funds ("ETFs") (collectively, "Underlying Funds"). The Adviser constructs the Fund's broadly-diversified investment portfolio by investing at various times in a wide range of Underlying Funds that invest in various security and investment categories (each an "Asset Class").

Underlying Funds include those that invest in:

&nbsp;&nbsp;&nbsp;&nbsp;· equity securities (common and preferred securities) of both domestic and foreign companies of various
sizes;

&nbsp;&nbsp;&nbsp;&nbsp;· fixed-income securities of domestic and foreign corporate and government issuers, without restriction
as to maturity or credit quality, including "high yield" securities;

&nbsp;&nbsp;&nbsp;&nbsp;· physical commodities, such as crude oil, copper and wheat, through mutual funds and ETFs that invest in
commodity-linked derivatives;

&nbsp;&nbsp;&nbsp;&nbsp;· currencies and the Dollar Index, and its inverse;

&nbsp;&nbsp;&nbsp;&nbsp;· funds that rise in value when interest rates rise; and

&nbsp;&nbsp;&nbsp;&nbsp;· money-market instruments.

The Fund defines high yield securities, also known as "junk bonds," as fixed-income securities rated below investment grade and whose issuers generally have a non-investment grade rating or are not rated. The Fund may purchase Treasury securities directly.

The Adviser employs a proprietary trend following strategy to generate buy and sell signals for Underlying Funds. The Adviser calculates upper and lower bands for each Underlying Fund. The upper and lower bands are offset above and below a short-term exponential moving average. A "buy" signal, which identifies a potential uptrend for an Underlying Fund candidate, is determined by a security's price rising above both the recent low of its upper band and a secondary moving average. The Adviser uses quantitative analysis to determine which Underlying Funds to purchase.

An Underlying Fund is sold when a security's price falls below the recent high of its lower band (a "sell" signal), the goal being to limit drawdowns of the overall Fund. When a position is sold, the proceeds may be invested in an alternative Underlying Fund or temporarily invested in cash equivalents. Cash equivalents may include, but are not limited to, U.S. Treasury bills, money market funds and Funds that primarily invest in investment grade short-term bonds. The Adviser periodically reviews the allocation of the Underlying Funds and may make adjustments to the Underlying Fund holdings, including adding or removing Underlying Funds.

The overall asset allocation of the Fund is not fixed. It can and does change significantly over time as the Adviser decides to re-allocate portions of the portfolio in response to changes in price trends of Underlying Funds. The Adviser may engage in frequent buying and selling of portfolio securities to achieve the Fund's investment objectives.

The Fund may engage in securities lending.

**Principal Investment Risks: *As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund is not intended to be a complete investment program. Many factors affect the Fund's net asset value and performance.***

&nbsp;&nbsp;&nbsp;&nbsp;· *Commodity-Linked Derivative Risk.* When the Fund invests in commodities through Underlying Funds
that invest in commodity-linked derivative instruments the Fund is exposed to risks affecting a particular industry or commodity,
such as drought, floods, and adverse regulatory developments. Commodity-linked derivatives may also have leverage risk, which amplifies
the effect of a small movement in commodity prices on the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;· *Emerging Markets Risk.* Underlying Funds may invest in emerging market countries. Investing in emerging
markets involves not only the risks described below with respect to investing in foreign securities, but also other risks, including exposure
to economic structures that are generally less diverse and mature, limited availability and reliability of information material to an
investment decision, and exposure to political systems that can be expected to have less stability than those of developed countries.
The market for the securities of issuers in emerging market typically is small, and a low or nonexistent trading volume in those securities
may result in a lack of liquidity and price volatility.

&nbsp;&nbsp;&nbsp;&nbsp;· *Equity Risk.* The net asset value of the Fund will fluctuate based on changes in the value of the
equity securities held by those Underlying Funds that invest in U.S. and/or foreign stocks. Equity prices can fall rapidly in response
to developments affecting a specific company or industry, or to changing economic, political or market conditions.

&nbsp;&nbsp;&nbsp;&nbsp;· *ETF Risk.* Shares of ETFs may trade at a discount or a premium in market price if there is a limited
market in such shares and are also subject to brokerage and other trading costs, which could result in greater expenses to the Fund. The
index-tracking ETFs in which the Fund invests will not be able to replicate exactly the performance of the indices they track because
the total return generated by the securities will be reduced by transaction costs incurred in adjusting the actual balance of the securities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Fixed-Income Risk.* When the Fund invests in Underlying Funds that invest in fixed-income
securities, the value of your investment in the Fund will generally decline when interest rate rise, as well as other factors. Defaults
by fixed income issuers in which the Underlying Funds invest may also harm performance.

&nbsp;&nbsp;&nbsp;&nbsp;· *Foreign Risk.* Foreign markets can be more volatile than the U.S. market due to increased risks
of adverse issuer, political, regulatory, market, economic developments or currency exchange rates and can perform differently from the
U.S. market. The net asset value of the Fund will fluctuate based on changes in the value of the foreign securities held by any Underlying
Funds that invest in such securities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Government Securities Risk.* It is possible that the U.S. Government would not provide financial
support to its agencies or instrumentalities if it is not required to do so by law. The ability of foreign governments to repay their
obligations is adversely impacted by default, insolvency, bankruptcy or by political instability, including authoritarian and/or military
involvement in governmental decision-making, armed conflict, civil war, social instability and the impact of these events and circumstances
on a country's economy and its government's revenues.

&nbsp;&nbsp;&nbsp;&nbsp;· *High Yield (Junk Bond) Risk.* Underlying Fund investments in lower quality bonds, also known as
"junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn
or period of rising interest rates could adversely affect the market for these bonds and reduce liquidity in these bonds. High yield bonds
are considered speculative and issuers are more sensitive to economic conditions than high quality issuers and more likely to seek bankruptcy
protection which will delay resolution of bondholder claims and may eliminate liquidity.

&nbsp;&nbsp;&nbsp;&nbsp;· *Interest Rate Risk*. Fixed income securities are subject to the risk that securities could lose
value because of interest rate changes. Fixed income securities with longer maturities are subject to greater price shifts as a result
of interest rate changes than fixed income securities with shorter maturities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Inverse Risk.* The Fund engages in hedging or declining-market strategies by investing in inverse
Underlying Funds. Any strategy that includes inverse securities could cause the Fund to suffer significant losses. The Fund will not participate
in market gains to the extent it holds inverse Underlying Funds.

&nbsp;&nbsp;&nbsp;&nbsp;· *Large Capitalization Company Risk.* Large-cap companies may be unable to respond quickly to new
competitive challenges, such as changes in technology and consumer tastes, and also may not be able to attain the high growth rate of
successful smaller companies, especially during extended periods of economic expansion.

&nbsp;&nbsp;&nbsp;&nbsp;· *Management Risk.* The Adviser's dependence on its investment strategy and judgments about
the attractiveness, value and potential appreciation of particular mutual funds and ETFs in which the Fund invests will in some cases
prove to be incorrect and have negative impacts on performance. The Fund is actively managed using proprietary investment strategies and
processes. There can be no guarantee that these strategies and processes will be successful.

&nbsp;&nbsp;&nbsp;&nbsp;· *Market and Geopolitical Risk.* The increasing interconnectivity between global economies and financial
markets increases the likelihood that events or conditions in one region or financial market may adversely impact issuers in a different
country, region or financial market. Securities in the Fund may underperform due to inflation (or expectations for inflation), interest
rates, global demand for particular products or resources, natural disasters, pandemics, epidemics, climate change or climate change related
events, terrorism, international conflicts, regulatory events and governmental or quasi-governmental actions. The occurrence of global
events similar to those in recent years, such as a worldwide pandemic, terrorist attacks, natural disasters, social and political discord
or debt crises and downgrades, among others, may result in market volatility and may have long term effects on both the U.S. and global
financial markets. It is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects
that such events may have and the duration of those effects. Any such event(s) could have a significant adverse impact on the value and
risk profile of the Fund. For example, the COVID-19 global pandemic had negative impacts, and in many cases severe negative impacts,
on markets worldwide. It is not known how long the impacts of the significant events described above, will last, but there could be a
prolonged period of global economic slowdown, which may impact your investment. Therefore, the Fund could lose money over short periods
due to short-term market movements and over longer periods during more prolonged market downturns. During a general market downturn,
multiple asset classes may be negatively affected. Changes in market conditions and interest rates can have the same impact on all types
of securities and instruments. In times of severe market disruptions you could lose your entire investment.

&nbsp;&nbsp;&nbsp;&nbsp;· *Master Limited Partnership ("MLP") Risk.* Investments in MLPs involve risks different
from those of investing in common stock including risks related to limited control and limited rights to vote on matters affecting the
MLP, risks related to potential conflicts of interest between an MLP and the MLP's general partner, cash flow risks, dilution risks
and risks related to the general partner's limited call right. MLPs are generally considered interest-rate sensitive investments.
During periods of interest rate volatility, these investments may not provide attractive returns. MLPs, typically, do not pay U.S. federal
income tax at the partnership level. Instead, each partner is allocated a share of the partnership's income, gains, losses, deductions
and expenses. A change in current tax law or in the underlying business mix of a given MLP could result in an MLP being treated as a corporation
for U.S. federal income tax purposes, which would result in such MLP being required to pay U.S. federal income tax on its taxable income.
The classification of an MLP as a corporation for U.S. federal income tax purposes would have the effect of reducing the amount of cash
available for distribution by the MLP. Thus, if any of the MLPs owned by the Fund were treated as corporations for U.S. federal income
tax purposes, it could result in a reduction of the value of your investment in the Fund and lower income, as compared to an MLP that
is not taxed as a corporation

&nbsp;&nbsp;&nbsp;&nbsp;· *Municipal Risk.* Municipal securities are subject to the risk that legislative changes and local
and business developments may adversely affect the yield or value of the Fund's investments in such securities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Preferred Security Risk.* The value of preferred securities will fluctuate with changes in interest
rates. Typically, a rise in interest rates causes a decline in the value of preferred securities. Preferred securities are also subject
to credit risk, which is the possibility that an issuer of preferred securities will fail to make its dividend payments.

&nbsp;&nbsp;&nbsp;&nbsp;· *Portfolio Turnover Risk.* As to the portion of the portfolio invested in ETFs and other investment
companies, turnover may result in higher brokerage commissions, dealer mark-ups and other transaction costs. The Fund's investment
style will result in most capital gains within the portfolio being realized as short-term capital gains.

&nbsp;&nbsp;&nbsp;&nbsp;· *Small and Mid-Capitalization Company Risk.* Investments in Underlying Funds that own securities
of small- and mid-capitalization companies may be more vulnerable than larger, more established organizations to adverse business
or economic developments. These companies often have narrower markets, fewer products, or services to offer and more limited managerial
and financial resources than do larger, more established companies.

&nbsp;&nbsp;&nbsp;&nbsp;· *REIT Risk.* The Fund's investment exposure to REITs may subject the Fund to risks of declines
in the value of real estate, changes in interest rates, lack of available mortgage funds or other limits on obtaining capital, overbuilding,
extended vacancies of properties, increases in property taxes and operating expenses, changes in zoning laws and regulations, casualty
or condemnation losses and tax consequences of the failure of a REIT to comply with tax law requirements. The Fund will bear a proportionate
share of the REIT's ongoing operating fees and expenses, which may include management, operating and administrative expenses in
addition to the expenses of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;· *Treasury Securities Risk.* U.S. Treasury obligations may differ from other securities in their interest
rates, maturities, times of issuance and other characteristics and may provide relatively lower returns than those of other securities.
Similar to other issuers, changes to the financial condition or credit rating of the U.S. government may cause the value of the Fund's
investment exposure to U.S. Treasury obligations to decline.

&nbsp;&nbsp;&nbsp;&nbsp;· *Underlying Fund Risk.* Each Underlying Fund is subject to specific risks, depending on its investments.
Underlying Funds are also subject to investment advisory fees and other expenses, which are indirectly borne by the Fund. As a result,
your overall cost of investing in the underlying securities and other assets will be higher than the cost of investing directly in them
and may be higher than other mutual funds that invest directly in securities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Securities Lending Risk*. Securities lending involves a possible delay in recovery of the loaned
securities, a possible delay in receiving additional collateral (to cover an increase in the market value of the loaned securities or
a decrease in the value of any securities collateral), or a possible loss of rights in the collateral should the borrower fail financially.
There is a risk that a borrower may default on its obligations to return loaned securities, which could negatively impact the Fund. The
Fund could also lose money if the value of the collateral decreases.

&nbsp;&nbsp;&nbsp;&nbsp;· *Whipsaw Risk.* Whipsaw risk is the possibility of experiencing losses or missed gains when the market
quickly reverses direction after a trend signal triggers an entry or exit. For example, an adviser might sell a security because a downtrend
is detected, only to have the market rebound, forcing it to buy back at a higher price (loss or missed gain). Conversely, a fund could
buy due to an uptrend, and the market reverses downward, resulting in a loss. As such, trend-following strategies may be subject to frequent
losses from whipsaw movements, and the Fund may experience short-term losses due to sudden reversals in prevailing trends. Therefore,
trend-following strategy results, such as those utilized by the Fund's adviser may differ from traditional buy-and-hold strategies
and shareholders should expect periods of underperformance due to rapid market fluctuations.

**Performance:** The bar chart and performance table below show the variability of the Fund's returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of Institutional Class shares of the Fund for each of the last ten full calendar years. The performance table compares the performance of the share classes of the Fund over time to the performance of a broad-based securities market index and a supplement index. You should be aware that the Fund's past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Updated performance information is available at no cost by calling 1-866-738-4363 or visiting www.OceanParkMutualFunds.com.

**Institutional Class Annual Total Return For Calendar Years Ended December 31<sup>1</sup>**

![](image_001.jpg)

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| | |
|:---|:---|
| 1 | The returns are for Institutional Class, which would have substantially similar annual returns as the other share classes because the shares are invested in the same portfolio of securities and the returns for each class would differ only to the extent that the classes do not have the same expenses. |

---

---

| | |
|:---|:---|
| Best Quarter: | 5.18% |
| Worst Quarter: 2<sup>nd</sup> Quarter 2022 | (4.33)% |

---

**Performance Table**

**Average Annual Total Returns**

(For periods ended December 31, 2025)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **One<br> Year** | **Five<br> Year** | **Ten<br> Years** | **Since<br> Inception** |
| &nbsp;&nbsp;&nbsp;**Institutional Class shares\*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 5.01% | 1.65% | 2.87% | 4.04% |
| &nbsp;&nbsp;&nbsp;Return after taxes on distributions | 3.93% | 0.67% | 1.92% | 2.84% |
| &nbsp;&nbsp;&nbsp;Return after taxes on distributions and sale of Fund shares | 3.13% | 0.91% | 1.86% | 2.73% |
| &nbsp;&nbsp;&nbsp;**Class A shares\*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes with sales load | 0.82% | 0.20% | 2.01% | 3.47% |
| &nbsp;&nbsp;&nbsp;**Class C shares\*\*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 3.98% | 0.63% | 1.85% | 1.92% |
| &nbsp;&nbsp;&nbsp;**Investor Class** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 4.74% | 1.39% | 2.61% | 3.80% |
| &nbsp;&nbsp;&nbsp;**Class A1 shares\*\*\*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes with sales load | 0.68% | 0.05% | 1.86% | 1.70% |
| &nbsp;&nbsp;&nbsp;**Class I1 shares\*\*\*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 4.60% | 1.23% | 2.46% | 2.15% |
| &nbsp;&nbsp;&nbsp;**Morningstar Conservative Target Risk Index** | 10.40% | 1.81% | 3.98% | 3.86% |

---

\* Class A, Investor Class and Institutional Class shares commenced operations December 24, 2007.

\*\* Class C shares commenced operations February 5, 2010.

\*\*\* Class A1 and I1 shares commenced operations June 7, 2012.

The Morningstar Conservative Target Risk Index is an index comprised of a diversified mix of equities, bonds and cash. The Morningstar Conservative Target Risk Index seeks approximately 20% exposure to global equity markets.

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or Individual Retirement Accounts (IRAs). After tax returns are not shown for Class A, C, I, A1 and I1 shares and would differ from those of Institutional Class shares.

**Investment Adviser:** Ocean Park Asset Management, LLC is the Fund's investment adviser.

**Investment Adviser Portfolio Managers:** Kenneth L. Sleeper, MBA, PhD, Managing Director, James St. Aubin, CFA®, CAIA®, Chief Investment Officer Ryan Harder, CFA®, Chief Investment Strategist and Marshall Quan, Portfolio Manager, are the portfolio managers of the Fund. Dr. Sleeper has served the Fund as portfolio manager since it commenced operations in October 2019. Mr. Quan has served the Fund as portfolio manager since January 2022. Mr. Harder has served the Fund as portfolio manager since January 2023. Mr. St. Aubin has served the Fund as portfolio manager since July 2024. Each portfolio manager is jointly and primarily responsible for the day-to-day management of the Fund.

**Purchase and Sale of Fund Shares:** For all Classes, the minimum initial investment is $10,000 and the minimum subsequent investment is $1,000. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange ("NYSE") is open. Redemption requests may be made in writing, by telephone, or through a financial intermediary and will be paid by ACH, check or wire transfer. The Fund reserves the right to waive any investment minimum.

**Tax Information:** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred account such as an IRA or 401(k).

**Payments to Broker-Dealers and Other Financial Intermediaries:** If you purchase Class A, Class C or Investor Class shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.