Ascendant Funds

Ascendant Funds*

We utilize proprietary mutual funds for asset allocation and investments in client portfolios. The funds managed by Ascendant are:

 

Ascendant Tactical Yield Fund

Investment Objective: The Fund seeks capital preservation with a secondary objective of total return.

Important Fund Risks
Mutual Funds involve risks including the possible loss of principal.  An increase in credit risk or a default will likely cause the value of the Fund’s fixed income securities to decline.  Issuers with lower credit quality, such as junk bond issuers, are more susceptible to economic or industry downturns and are more likely to default.  The issuer of a debt security may fail to pay interest or principal when due and changes in market interest rates may reduce the value of debt securities or reduce the Fund’s return.  Typically, the price of a fixed income security falls when interest rates rise. Convertible bonds are hybrid securities that have characteristics of both bonds and common stocks and are subject to debt security risks and conversion value related equity risk.  Changes in the financial condition of one or more municipal issuers may affect the overall municipal securities market and make it difficult to make interest and principal payments. The value of foreign issuer securities and ADR’s may be affected by changes in exchange control regulations, application of foreign tax laws, changes in governmental administration, economic or monetary policy.  Swap agreements may involve fees, commissions or other costs that will reduce the Fund’s gains from a swap agreement, cause the Fund to lose money, or create leverage magnifying the gain or loss. The Fund’s high portfolio turnover may increase its transaction costs resulting in increased realization of net short-term capital gains, higher taxable distributions and lower after-tax performance.  The Advisor and Sub-Advisor’s judgment about the attractiveness of an investment may prove to be inaccurate and the Fund may underperform other fixed income funds. Investments in other Funds are subject to expenses which will be indirectly paid by the Fund, thereby increasing the costs.

 

Ascendant Deep Value Bond Fund

Investment Objective: The Fund seeks total return from income and growth of capital.

Important Fund Risks
Mutual Funds involve risk including the possible loss of principal.  Convertible bonds are hybrid securities that have characteristics of both fixed income securities and common stocks and are subject to risk associated with both debt and equity securities.  Issuers of fixed income securities may suffer from a reduced ability to repay their interest and principal obligations and may default on interest and/or principal payments owed to the Fund.  Increased credit risk or default will likely cause the value of the Funds fixed income securities to decline. Investments in high yield or ‘junk’ debt securities, rated below investment grade, may be subject to greater risk of loss of principal, interest, default and liquidity, than investments in higher rated debt securities.  Fixed income securities have varying levels of sensitivity to changes in interest rates, but generally the price of a fixed income security falls when interest rates rise. The Fund may use derivatives (including futures and options) to enhance returns or hedge against market declines. Risks associated with derivative investments could be greater than investing directly in the underlying security or other traditional investments.  Investments in foreign securities could subject the Fund to greater risks including, currency fluctuation, economic conditions, and different governmental and accounting standards. Investments in lesser-known, small and medium capitalization companies may be more vulnerable than larger, more established organizations. A higher turnover may indicate higher transaction costs and could result in higher taxes when Fund shares are held in a taxable account. Short positions may be considered speculative and involve special risks, including greater reliance on the adviser’s ability to accurately anticipate future values of security.  The Fund’s losses are potentially unlimited in a short positions. The adviser’s assessment of a convertible bond’s intrinsic value may never be realized by the market and a security judged to be undervalued may actually be appropriately priced or its price may move in the wrong direction.

 

Patriot Fund

Investment Objective: The Fund seeks growth of capital.

Important Fund Risks
Mutual Funds involve risk including the possible loss of principal. There is no assurance that the fund will achieve its investment objectives. Because the adviser screens out Terror Nations-related issuers, this will reduce the number of potential investments available to the Fund and the Fund may not perform as well as unrestricted funds. A higher turnover may indicate higher transaction costs and could result in higher taxes when Fund shares are held in a taxable account.

 

Patriot Balanced Fund

Investment Objective: The Fund seeks total return from income and growth of capital.

Important Fund Risks
Mutual Funds involve risk including the possible loss of principal. The Fund’s investments in convertible securities subject the fund to the risks associated with both fixed income securities and common stocks. There is a risk that issuers and counterparties will not make payments on securities and other investments held by the Fund, resulting in losses to the Fund. Investments in foreign securities could subject the Fund to greater risks including currency fluctuation, economic conditions, and different governmental and accounting standards. In general, the price of a fixed income security falls when interest rates rise. Investments in underlying funds that own small and mid-capitalization companies may be more vulnerable than larger, more established organizations. A higher turnover may indicate higher transaction costs and could result in higher taxes when Fund shares are held in a taxable account.

 

Investors should carefully consider the investment objectives, risks, charges and expenses of the Funds. This and other important information about the Fund is contained in the prospectus, which can be obtained at www.ascendantfunds.com or by calling 855-527-2363. The prospectus should be read carefully before investing. The Funds are distributed by Northern Lights Distributors, LLC, a FINRA/SIPC member.  Ascendant Advisors, LLC. is not affiliated with Northern Lights Distributors, LLC.

 

6803-NLD-8/14/2018

 

Ascendant Tactical Yield Fund Fact Sheet: PDF

Ascendant Deep Value Bond Fund Fact Sheet: PDF
Ascendant Funds Prospectus: PDF
Ascendant Funds Statement of Additional Information: PDF

 

Patriot Fund Fact Sheet: PDF

Patriot Balanced Fund Fact Sheet: PDF

Patriot Funds Prospectus: PDF
Patriot Funds Statement of Additional Information: PDF