Anfield Universal Fixed Income Fund
Investment Objective
The Anfield Universal Fixed Income fund seeks a blend of income and capital appreciation. The Fund is not managed relative to an index and has broad flexibility to allocate across different security types, countries, currencies, sectors and maturities to pursue the most compelling yield and total return opportunities.
Investment Strategy
The Fund is an absolute return bond strategy seeking to deliver positive returns over full market cycles. Free from traditional fixed income benchmark-specific guidelines, it invests broadly across the global fixed income markets without limitation. The flexible and universal nature of this strategy allows Anfield to fully express our outlook, with the ability to take greater exposure in areas where we see opportunity and avoid or even take negative exposure to fundamentally unattractive markets or where we see heightened downside risk.
Philosophy
- Long-term secular orientation
- Value-driven with an income focus
- Benchmark, asset class and geography agnostic
- Risk centric, seeking downside-protection approach to investing
Investment Process
- Synthesis of top-down macro orientation with bottoms up security selection
– Higher quality company bias
– Price adjusted quality bias
- Secular and industry weightings are a result, not the governor of our individual security selection
- Sector and asset class weightings are the result of our bottoms up analysis
- Moderate and incremental approach to portfolio turnover
The Fund’s Adviser has contractually agreed to reduce the Fund’s fees and/or absorb expenses of the Fund until February 28, 2021 to ensure that the net annual fund operating expenses will not exceed 1.45%, 2.25% and 1.25% for Class A, C and I shares respectively, subject to possible recoupment from the Fund in future years. Without these waivers, the Fund’s total annual operating expenses would be 1.81%, 2.56% and 1.56% for Class A, C and I shares respectively. Please review the fund’s prospectus for more information regarding the fund’s fees and expenses. This agreement may be terminated by the Fund’s Board of Trustees on 60 days’ written notice to the Adviser. A Class shares have a maximum sales load of 5.75%.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Anfield Universal Fixed Income Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 866.866.4848. The prospectus should be read carefully before investing. The Anfield Universal Fixed Income Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC. Anfield Group, LLC and Northern Lights Distributors, LLC are unaffiliated.
There is no guarantee that any investment strategy will achieve its objectives, generate profits or avoid losses. Mutual Funds involve risk including loss of principle. Investing in foreign denominated and/or domiciled securities may involve heightened risk due to currency fluctuations, and economic and political risks, which may be enhanced in emerging markets. Mortgage and asset-backed securities may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market’s perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. High yield, lower-rated, securities involve greater risk than higher-rated securities; portfolios that invest in them may be subject to greater levels of credit and liquidity risk than portfolios that do not. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. Diversification does not ensure against loss. The value of most bond funds and fixed income securities are impacted by changes in interest rates. Bonds and bond funds with longer durations tend to be more sensitive and more volatile than securities with shorter durations; bond prices generally fall as interest rates rise. Other fixed income security risks include credit risk and prepayment risk. Futures contracts are subject to risks of the underlying investments that they represent, but also may involve risks different from, and possibly greater than, those associated with investing directly in the underlying investments. Futures are also subject to market risk, interest rate risk and index tracking risk. The use of leverage, such as embedded options will magnify the Fund’s gains and losses. Obligations of U.S. Government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. Government.
