Fund Overview

OBJECTIVE

The Fund seeks Income and Capital Appreciation

INVESTMENT APPROACH

Focus on deeply discounted, high yielding mortgage backed ("MBS") and asset backed securities ("ABS") that are believed to be significantly undervalued

The portfolio is expected to primarily consist of high cash flow bonds with relatively short durations

OTHER FEATURES

1940 Act registered open-end mutual fund

Tickers: DPFNX, DPFAX, DPFCX

Daily liquidity

Form 1099 tax reporting

Low minimums

Alternative investing may not be suitable for all Investors.

A “Liquid Alternative” is generally considered an investment strategy that incorporates short-selling, leverage and/or asset classes that are different in some way than generic stocks and bonds. These investments can normally be bought and sold any day the NYSE is open.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Deer Park Total Return Credit Fund. This and other important information about the Fund is contained in the Prospectus, which can be obtained by contacting your financial advisor, or by calling 1.888.868.9501. The Prospectus should be read carefully before investing.

Deer Park Total Return Credit Fund is distributed by Northern Lights Distributors, LLC member FINRA / SIPC. Princeton Fund Advisors and Northern Lights Distributors, LLC are not affiliated.

Investments in Mutual Funds involve risk including possible loss of principal.

Past performance does not guarantee future results and there is no assurance that the Fund will achieve its investment objective.

ABS, MBS, RMBS and CMBS are subject to credit risk because underlying loan borrowers may default. Additionally, these securities are subject to prepayment risk because the underlying loans held by the issuers may be paid off prior to maturity. The value of these securities may go down as a result of changes in prepayment rates on the underlying mortgages or loans. 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. Repayment of defaulted securities and obligations of distressed issuers (including insolvent issuers or issuers in payment or covenant default, in workout or restructuring or in bankruptcy or in solvency proceedings) is subject to significant uncertainties.

Futures, options and swaps involve risks possibly greater than the risks associated with investing directly in securities including leverage risk, tracking risk (the derivatives may not track the underlying securities) and counterparty default risk. Option positions may expire worthless exposing the Fund to potentially significant losses. The value of the Fund's investments in fixed income securities will fluctuate with changes in interest rates. Changes in short-term market interest rates will directly affect the yield on investments in floating rate debt. As a result of certain strategies designed to mitigate market risk, the Fund may not participate as fully in positive markets because of these strategies and each strategy could negatively impact the Fund. Lower-quality fixed income securities, known as "high yield" or "junk" bonds, present greater risk than bonds of higher quality, including an increased risk of default. The Fund will incur a loss as a result of a short position if the price of the short position instrument increases in value between the date of the short position sale and the date on which the Fund purchases an offsetting position.

The value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. Overall fixed income securities and derivatives market risks may affect the value of individual instruments in which the Fund invests. The Fund may enter into repurchase agreements in which it purchases a security (known as the "underlying security") from a securities dealer or bank, therefore the repurchase agreements are subject to counterparty default risk.

The use of leverage by the Fund, such as borrowing money for liquidity purposes, or the use of derivatives, will cause the Fund to incur additional expenses and magnify the Fund's gains or losses. Liquidity risk exists when particular investments of the Fund would be difficult to purchase or sell, possibly preventing the Fund from selling such illiquid securities at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable times or prices in order to satisfy its obligations.

The Fund is a new mutual fund and prior to its recent commencement of operations had no history of operations for investors to evaluate. The Fund's portfolio may focus on a limited number of investments and will be subject to the potential for greater volatility than a diversified fund.

7182-NLD 02/20/2024.