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RAAAX

Investment Approach

Diversified real estate exposure with a hedged approach. The Fund seeks to achieve total returns by accessing an experienced long-biased real estate manager who opportunistically invests in companies that own real assets, which may also provide a potential inflation hedge and durable income stream.



Key Facts



Top 10 Holdings

Current and future portfolio holdings are subject to risk.





Managers

Burland East

Co-Portfolio Manager Chief Executive Officer of American Assets Capital Advisers (AACA)

Read Bio Firm Overview

Creede Murphy

Co-Portfolio Manager Chief Operating Officer of American Assets Capital Advisers (AACA)

Read Bio Firm Overview


Documents

Product

Fact Sheet: Quarterly

Commentary: Quarterly

Presentation: Quarterly Webinar

Presentation: Investment Strategy


Legal and Compliance


Forms and Applications

Application: Regular

Application: IRA

Application: Simple IRA

IRA Transfer of Assets

IRA Custodial Agreement/Disclosure Statement

Roth IRA Custodial Agreement/Disclosure Statement

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Quarterly Fact Sheet

A quick stat sheet on performance, contribution, manager updates, and key fund facts.

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Quarterly Commentary

A quarterly commentary are everchanging market conditions impacting the fund and sector alike.

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Investment Strategy

A deep dive on portfolio positioning, off-index characteristics and investment strategy developed by AACA.

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Q1 2023 Portfolio Update

A quarterly webinar event to discuss recent performance, sector attribution and current themes in the portfolio.

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CAREFULLY CONSIDER THE FUND'S INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES AS DETAILED IN ITS PROSPECTUS AND SUMMARY PROSPECTUS, WHICH CAN BE OBTAINED BY CALLING (888) 524-9441. BEFORE INVESTING, READ THE PROSPECTUS CAREFULLY FOR ADDITIONAL INFORMATION ABOUT THE FUND AND ITS RISKS.

Funds distributed by Northern Lights Distributors, LLC. Altegris Advisors and Northern Lights are not affiliated.

Important Risk Disclosures

THE FUND MAY NOT BE SUITABLE FOR ALL INVESTORS

Investing involves risk, including possible loss of principal. You may have a gain or loss when you sell shares. There can be no assurance that the Fund will achieve its investment objectives. Concentrating the Fund’s investments in real estate securities subjects it to the same risks as direct investments in real estate, and real estate is particularly sensitive to economic downturns. The Fund will leverage investments, as deemed appropriate, to the extent permitted by its investment policies and applicable law, which will magnify the impacts of increases or decreases in the value of Fund investments. The Fund’s investment in ETFs or other investment funds will subject it to the risks and expenses affecting those funds. The Fund’s use of short selling involves increased risks and costs, as the Fund may pay more for a security than it receives in a short sale, with potentially significant and possibly unlimited losses. Investments in non-US securities pose additional risks to the Fund, as compared to U.S. securities, due to currency fluctuation, adverse political or economic conditions, and differing audit and legal standards (risks that are magnified for investments in emerging markets). The Fund may invest in options and derivative instruments, which can be more volatile. less liquid and increase risk of loss, as compared to traditional securities. Derivatives and options can be subject to risks of counterparty default and adverse tax treatment. Investing in sector funds is more volatile as compared to broadly diversified funds, as there is greater concentration risk due to investing in the same or similar issuers and offerings. The Fund is non-diversified and can invest a greater portion of its assets in securities of the same issuers than a diversified fund, and therefore a change in the value of a single security could cause greater fluctuation in the Fund’s share price than would occur if it were diversified. The Fund trades actively, which can increase volatility and costs due to high turnover.

ALTEGRIS ADVISORS

Altegris Advisors, LLC is a CFTC- and NFA-registered commodity pool operator and SEC-registered investment adviser that manages funds pursuing alternative investment strategies.

INDEX DESCRIPTIONS

An index is unmanaged, not available for direct investment, and its performance does not reflect transaction costs, fees, or expenses.

Dow Jones US Real Estate Total Return (TR) Index: The Dow Jones US Real Estate Total Return Index tracks the performance of real estate investment trusts (REITs) and other companies that invest directly or indirectly in real estate through development, management, or ownership, including property agencies.

S&P 500 TR Index: The S&P 500Total Return Index is is a broad-based index, the performance of which is based on the performance of 500 widely held common stocks chosen for market size, liquidity, and industry group representation.

GLOSSARY

Long. Buying an asset/security that gives partial ownership to the buyer of the position. Long positions profit from an increase in price.

Short. Selling an asset/security that may have been borrowed from a third party with the intention of subsequently buying it back. Short positions profit from a decline in price. If a short position increases in price, the potential loss of an uncovered short is unlimited.

Alpha. Gauges relative positive or negative performance of an investment as compared to a benchmark.

 

4073-NLD-07262023