March 2016

Alternative Credit Intelligence
Semper looks to broaden out across asset-backed investing
"The $1.3 billion New York mortgage securities specialist is looking for ways to diversify its business"

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Semper MBS Total Return Fund prospectus.

The Semper funds are distributed by Quasar Distributors, LLC.

Opinions expressed are those of the author or Semper Funds and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. While the fund is no-load, management and other expenses still apply. References to other funds should not be viewed as an offer of those securities.

Definition of "par": At par is a term that refers to a bond, preferred stock or other debt obligation that is trading at its face value.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 855-736-7799. Click here for MBS Total Return Fund standardized performance and expense ratios.