Catalyst Insider Income Fund

IIXAX | IIXCX | IIXIX

Why Invest in IIX?

The Catalyst Insider Income Fund seeks to offer investors an opportunity to invest in short-term U.S. corporate bonds issued by corporations whose executives are purchasing shares of the company’s common stock.

Fund Details

I Share

Ticker	IIXIX
NAV	9.88
NAV Change	0.02
% NAV Change	0.20%
YTD Return	1.24%
Distribution Frequency	Monthly

A Share

Ticker	IIXAX
NAV	9.85
NAV Change	0.01
% NAV Change	0.10%
YTD Return	1.05%
Distribution Frequency	Monthly

C Share

Ticker	IIXCX
NAV	9.86
NAV Change	0.01
% NAV Change	0.10%
YTD Return	0.77%
Distribution Frequency	Monthly

Fund Documents

\| Fact Sheet
\| Summary Prospectus
\| Prospectus
\| SAI
\| Annual Report
\| Semi-Annual Report
- \| Fund Presentation
\| Fund Brochure

Financial Professional Documents

Restricted Content

Please log into your account to access Financial Professionals information.

Fund Objective

The Fund’s objective is high current income with low interest rate sensitivity.

Reasons to Invest

The Catalyst Insider Income Fund seeks to offer investors an opportunity to invest in short-term U.S. corporate bonds issued by corporations whose executives are purchasing shares of the company’s common stock.

Insider-Driven

The Fund only invests in short-term U.S. corporate bonds issued by companies whose corporate insiders (CEO, CFO, directors, etc.) are purchasing their own company’s stock. We believe corporate insiders understand their own firm better than any outsider possibly could.

Seeks Reduced Credit Risk

Our historical research demonstrates that companies with insider buying experience substantially lower default and bankruptcy rates. The intuition is that corporate insiders would not take an equity stake if the company were in jeopardy of bankruptcy.

Low Interest Rate Sensitivity

We seek to reduce exposure to interest rate risk by holding a portfolio of corporate bonds with an average modified duration less than three and a half years.

Portfolio Manager Insights

Fund Management

Investment Advisor: Catalyst Capital Advisors, LLC

David Miller | CIO & Senior Portfolio Manager
Mr. Miller is Co-Founder, Chief Investment Officer and Senior Portfolio Manager of Catalyst Capital Advisors LLC and Rational Funds Inc. He received a Bachelor of Science degree in Economics from the University of Pennsylvania, Wharton School, and a Master of Business Administration in Finance from the University of Michigan, Ross School of Business.

Charles Ashley | Portfolio Manager
Mr. Ashley is a Portfolio Manager of Catalyst Capital Advisors LLC, since November 2017. He joined the Advisor as a Senior Financial Analyst in February 2016. He is primarily responsible for providing investment research and assisting with the day-to-day management of several Catalyst funds.

Fund Overview

Ticker	IIXIX	IIXAX	IIXCX	IIXAX
Share Class	Class I	Class A	Class C	Class A w/ Sales Load
CUSIP	62827M441	62827M466	62827M458	62827M466
Inception Date	2014-07-29T00:00:00	2014-07-29T00:00:00	2014-07-29T00:00:00	2014-07-29T00:00:00
As of Date	2021-05-14T00:00:00	2021-05-14T00:00:00	2021-05-14T00:00:00	2021-05-14T00:00:00
Daily NAV	9.88	9.85	9.86	9.85
NAV Change	0.02	0.01	0.01	0.01
% NAV Change	0.20%	0.10%	0.10%	0.10%

Current Fund Performance

As of: 2021-05-14T00:00:00
Annualized if greater than a year

Share Class	1 Month	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	10 Years	Since Inception
Class I	0.10%	0.01%	2.93%	1.24%	11.19%	4.74%	4.31%	N/A	2.47%
Class A	-0.02%	-0.05%	2.81%	1.05%	10.90%	4.44%	3.98%	N/A	2.17%
Class C	-0.09%	-0.24%	2.44%	0.77%	10.11%	3.71%	3.26%	N/A	1.46%
Class A w/ Sales Charge	-4.75%	-4.76%	-2.03%	-3.75%	5.61%	2.76%	2.97%	N/A	1.44%

Quarterly Fund Performance

Data as of quarter end: 2021-03-31T00:00:00
Annualized if greater than a year

Share Class	1 Month	3 Months	6 Months	YTD	1 Year	3 Years	5 Years	10 Years	Since Inception
Class I	-0.37%	0.74%	3.27%	0.74%	13.42%	4.98%	4.59%	N/A	2.44%
Class A	-0.30%	0.69%	3.16%	0.69%	13.16%	4.71%	4.28%	N/A	2.15%
Class C	-0.36%	0.50%	2.89%	0.50%	12.34%	3.99%	3.57%	N/A	1.45%
Class A w/ Sales Charge	-5.00%	-4.09%	-1.72%	-4.09%	7.76%	3.04%	3.27%	N/A	1.41%

The Fund’s maximum sales charge for Class “A” shares is 4.75%. Investments in mutual funds involve risks. Performance is historic and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain the most recent month end performance information or the fund’s prospectus please call the fund, toll free at 1-866-447-4228. You can also obtain a prospectus at www.CatalystMF.com.

Fund Expenses

Share Class	Class I	Class A	Class C	Class A w/ Sales Charge
Prospectus Gross Expense Ratio (11/1/2020)	1.18%	1.43%	2.18%	1.43%
Prospectus Net Expense Ratio (11/1/2020)	0.75%	1.00%	1.75%	1.00%
Annual Report Net Expense Ratio (6/30/2020)*	0.75%	1.00%	1.75%	1.00%

* The annual report presents the audited actual expenses of the fund for the fiscal year. It excludes the impact of certain items that are listed as prospectus expenses, such as acquired fund fees and expenses.

The Advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit operating expenses (excluding brokerage costs; borrowing costs such as (a) interest and (b) dividends on securities sold short; taxes; underlying fund expenses; and extraordinary expenses, such as regulatory inquiry and litigation expenses) at 1.00%, 1.75% and 0.75% for Class A shares, Class C shares and Class I shares, respectively, through October 31, 2021.

Monthly Distribution

I Share

Ticker	Record Date	Payable Date	Monthly Distribution Amount	Reinvest Price	SEC Yield	Unsubsidized SEC Yield
IIXIX	4/30/2021	4/30/2021	0.0192	9.90	1.99%	1.68%
IIXIX	3/31/2021	3/31/2021	0.0228	9.86	2.17%	1.85%
IIXIX	2/28/2021	2/28/2021	0.0192	9.92	1.91%	1.58%
IIXIX	1/31/2021	1/31/2021	0.0214	9.90	1.37%	1.01%
IIXIX	12/31/2020	12/31/2020	0.0242	9.85	2.23%	1.83%
IIXIX	11/30/2020	11/30/2020	0.0317	9.77	3.35%	2.92%
IIXIX	10/31/2020	10/31/2020	0.0263	9.66	3.18%	2.75%
IIXIX	9/30/2020	9/30/2020	0.0325	9.69	3.69%	3.25%
IIXIX	8/31/2020	8/31/2020	0.0354	9.73	3.81%	3.36%
IIXIX	7/31/2020	7/31/2020	0.0363	9.68	4.04%	3.57%
IIXIX	6/30/2020	6/30/2020	0.0354	9.51	5.43%	4.81%
IIXIX	5/31/2020	5/31/2020	0.0276	9.38	4.74%	4.25%

A Share

Ticker	Record Date	Payable Date	Monthly Distribution Amount	Reinvest Price	SEC Yield	Unsubsidized SEC Yield
IIXAX	4/30/2021	4/30/2021	0.0172	9.87	1.70%	1.41%
IIXAX	3/31/2021	3/31/2021	0.0207	9.84	1.82%	1.52%
IIXAX	2/28/2021	2/28/2021	0.0174	9.89	1.58%	1.27%
IIXAX	1/31/2021	1/31/2021	0.0193	9.87	1.07%	0.73%
IIXAX	12/31/2020	12/31/2020	0.0222	9.83	1.89%	1.51%
IIXAX	11/30/2020	11/30/2020	0.0298	9.75	2.95%	2.54%
IIXAX	10/31/2020	10/31/2020	0.0243	9.64	2.79%	2.38%
IIXAX	9/30/2020	9/30/2020	0.0326	9.67	3.27%	2.86%
IIXAX	8/31/2020	8/31/2020	0.0361	9.71	3.39%	2.96%
IIXAX	7/31/2020	7/31/2020	0.0354	9.67	3.61%	3.16%
IIXAX	6/30/2020	6/30/2020	0.0335	9.50	4.93%	4.34%
IIXAX	5/31/2020	5/31/2020	0.0274	9.36	4.27%	3.81%

C Share

Ticker	Record Date	Payable Date	Monthly Distribution Amount	Reinvest Price	SEC Yield	Unsubsidized SEC Yield
IIXCX	4/30/2021	4/30/2021	0.0111	9.88	1.00%	0.70%
IIXCX	3/31/2021	3/31/2021	0.0141	9.85	1.17%	0.86%
IIXCX	2/28/2021	2/28/2021	0.0117	9.90	0.91%	0.59%
IIXCX	1/31/2021	1/31/2021	0.0135	9.88	0.38%	0.03%
IIXCX	12/31/2020	12/31/2020	0.0161	9.84	1.23%	0.85%
IIXCX	11/30/2020	11/30/2020	0.0242	9.75	2.35%	1.93%
IIXCX	10/31/2020	10/31/2020	0.0186	9.65	2.18%	1.74%
IIXCX	9/30/2020	9/30/2020	0.0241	9.67	2.69%	2.25%
IIXCX	8/31/2020	8/31/2020	0.0290	9.71	2.81%	2.36%
IIXCX	7/31/2020	7/31/2020	0.0328	9.67	3.05%	2.58%
IIXCX	6/30/2020	6/30/2020	0.0298	9.50	4.43%	3.80%
IIXCX	5/31/2020	5/31/2020	0.0206	9.37	3.75%	3.27%

Disclosures

SEC Yield: A standardized yield calculation created by the SEC that reflects the net income earned during a 30-day period.
Record Date: The date established for the purpose of determining the holders who are entitled to receive a distribution.
Payable Date: The date the distribution is scheduled to be paid.

There is no assurance that the Fund will achieve its investment objective.

Investing in the Fund carries certain risks. The value of the Fund may decrease in response to the activities and financial prospects of an individual security in the Fund’s portfolio. The Fund is non-diversified and may invest a greater percentage of its assets in a particular issue and may own fewer securities than other mutual funds. The Fund may invest in lower-quality, non-investment grade bonds. Non-investment grade corporate bonds are those rated Ba or lower by Moody's or BB or lower by S&P (also known as "junk" bonds). Lower-quality debt securities involve greater risk of default or price changes due to changes in the credit quality of the issuer. Interest rate risk is the risk that bond prices overall, including the prices of securities held by the Fund, will decline over short or even long periods of time due to rising interest rates. Bonds with longer maturities tend to be more sensitive to interest rates than bonds with shorter maturities. These factors may affect the value of your investment.

4451-NLD-4/2/2019

Disclosure

An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the Catalyst Funds can be found in the Fund’s prospectus, which can be obtained by calling 1-866-447-4228. Please read the prospectus carefully before investing. The open-end fund products for Catalyst Funds are distributed by Northern Lights Distributors, LLC., Member FINRA/SIPC. Foreside Fund services and Catalyst Capital Advisors are not affiliated with Northern Lights Distributors, LLC. The Catalyst Strategic Income Opportunities Fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Catalyst Capital Advisors LLC, or any of its affiliates.

20241122-4045835

Catalyst Insider Income Fund

IIXAX | IIXCX | IIXIX

Why Invest in IIX?

The Catalyst Insider Income Fund seeks to offer investors an opportunity to invest in short-term U.S. corporate bonds issued by corporations whose executives are purchasing shares of the company’s common stock.

Fund Details

Fund Documents

Fund Objective

Reasons to Invest

Portfolio Manager Insights

Fund Management

Fund Overview

Current Fund Performance

Quarterly Fund Performance

Fund Expenses

Monthly Distribution

Disclosures

Open-End Funds

Close-End Funds

Affiliated Funds

Disclosure