Anfield Universal Fixed Income Fund
Portfolio Management Team
Cyrille Conseil, CFA
Senior Portfolio Manager, Research and Trading
Cyrille is a Senior Portfolio Manager at Anfield Capital Management, LLC and member of the Investment Committee. He has over 25 years of investment management experience having most recently been associated with PIMCO for over 12 years. Cyrille was an Executive Vice President, portfolio manager, and head of PIMCO’s global Leveraged Loan Desk, where he managed over $7 billion in assets under management. Prior to his portfolio management responsibilities, Cyrille was a senior member of PIMCO’s credit research team. Cyrille holds the Chartered Financial Analyst designation, an MBA with a concentration in finance and international business from Columbia University’s Graduate School of Business, New York, NY. He is a graduate of the Wharton School of the University of Pennsylvania, where he received a Bachelors of Science in Economics with a concentration in finance.
Peter Van de Zilver, CFA
Portfolio Manager, Risk Management
Peter is Director of Portfolio Analytics and Risk Management at Anfield Capital. Peter has over 25 years of investment management experience, and retired in 2010 from a senior position in the PIMCO’s Portfolio Analytics group to work on developing qualitative trading algorithms. At PIMCO he was responsible for the architecture, development and implementation of many of their analytics and risk management systems. Peter holds the Chartered Financial Analyst designation and holds degrees in Physics, Mathematics and Economics from the Universities of Utrecht and Amsterdam, and an MA degree in Economics from the University of Southern California.
David Young, CFA
Portfolio Manager, Global Strategy
David Young is the Founder of Anfield Group, LLC and the Chief Executive Officer at Anfield Capital. He has 30 years of investment experience, working with sophisticated institutional and private investors in investment strategy, portfolio management and asset allocation. At the end of 2008, he retired as Executive Vice President with PIMCO to rejoin the University of California, Irvine Merage School of Business as Adjunct Professor of Finance. From 1999 to 2006, David was head of PIMCO’s account management group in London. David holds the Chartered Financial Analyst designation, an MBA with a concentration in finance from the Paul Merage School of Business at U.C., Irvine, and degrees in Economics and Political Science from U.C., Irvine.
The Fund’s Adviser has contractually agreed to reduce the Fund’s advisory 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.
