Filed Pursuant to Rule 424(b)(3)
Registration No. 333-185695

equinoxfunds.com   c/o Phoenix American Financial Services, Inc.   2401 Kerner Boulevard San Rafael, CA 94901 P 1.877.837.0600 Opt #2 F 415.485. 4553

August 2016 Performance Update

Equinox Frontier Funds Supplement Dated August 31, 2016 to Prospectus Dated April 29, 2016.

Equinox Frontier Funds Class 1

EQUINOX FRONTIER FUNDS’ GOAL: To provide you – the investor – with a managed futures product that, over the long term, provides attractive returns, reduces volatility, and improves the overall performance of your investment portfolio.

August performance for the Equinox Frontier Funds is detailed below:*

Equinox Frontier Funds Class 1	August 31, 2016 MTD			August 31, 2016 YTD			NAV / Unit
Equinox Frontier Diversified Fund-1		-2.52	%		1.35	%	$	117.08
Equinox Frontier Long/Short Commodity Fund-1a		0.55	%		-5.48	%	$	89.57
Equinox Frontier Masters Fund-1		-3.26	%		6.38	%	$	120.07

Additional information, including monthly rates of return, concerning the aforementioned Funds and the Trading Advisor(s) is contained in the Prospectus and the respective Fund’s Appendix to the Prospectus.

* The above table sets forth the actual performance of the Fund and Class as of August 31, 2016. Actual gross trading performance (gross realized and unrealized gain/loss before deduction for trading commissions and fees, management fees, any other expense, and before addition of interest income) is adjusted for the trading expenses, management fees, initial service fees, on-going service fees, and interest income of the applicable Fund.

THIS INSERT MUST BE ACCOMPANIED OR PRECEDED BY THE CURRENT PROSPECTUS OF EQUINOX FRONTIER FUNDS

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS

EQUINOX FRONTIER DIVERSIFIED FUND - Class 1

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

August 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	(1,989.28	)
Unrealized trading gain (loss)		(140,563.56	)
Less: Commissions		(58.06	)
Less: Trading Fee paid to Managing Owner		(14,213.40	)
Interest income		1,099.01
Total Income		(155,725.29	)
EXPENSES
Broker service fees		11,993.65
Incentive fees		0.00
Management fees		408.05
Total Expenses		12,401.70
Net Income (Loss)	$	(168,126.99	)

Statement of Changes in Net Asset Value

	Units			Dollars			$‘s per unit
Net asset value, beginning of month		57,311.98403		$	6,883,998.47		$	120.11
Current month additions		13.05083			1,560.60
Current month redemptions		(2,342.26434	)		(279,931.16	)
Net income (loss) for current month					(168,126.99	)		(3.03	)
Net asset value, end of current month		54,982.77052		$	6,437,500.92		$	117.08
Monthly rate of return								-2.52	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

EQUINOX FRONTIER DIVERSIFIED FUND - Class 1

EQUINOX FRONTIER MASTERS FUND - Class 1

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

August 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	10,930.91
Unrealized trading gain (loss)		(182,517.99	)
Less: Commissions		(542.93	)
Less: Trading Fee paid to Managing Owner		(13,407.76	)
Interest income		2,978.19
Total Income		(182,559.58	)
EXPENSES
Broker service fees		11,313.23
Incentive fees		8,541.03
Management fees		3,085.31
Total Expenses		22,939.57
Net Income (Loss)	$	(205,499.15	)

Statement of Changes in Net Asset Value

	Units			Dollars			$‘s per unit
Net asset value, beginning of month		51,731.07344		$	6,420,963.36		$	124.12
Current month additions		211.44174			26,386.48
Current month redemptions		(1,666.64359	)		(205,016.42	)
Net income (loss) for current month					(205,499.15	)		(4.05	)
Net asset value, end of current month		50,275.87159		$	6,036,834.27		$	120.07
Monthly rate of return								-3.26	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

EQUINOX FRONTIER MASTERS FUND - Class 1

EQUINOX FRONTIER LONG/SHORT COMMODITY FUND - Class 1a

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

August 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	86.14
Unrealized trading gain (loss)		29,628.64
Less: Commissions		35.63
Less: Trading Fee paid to Managing Owner		(6,096.73	)
Interest income		(544.65	)
Total Income		23,109.03
EXPENSES
Broker service fees		5,144.57
Incentive fees		0.00
Management fees		818.57
Total Expenses		5,963.14
Net Income (Loss)	$	17,145.89

Statement of Changes in Net Asset Value

	Units			Dollars			$‘s per unit
Net asset value, beginning of month		32,346.26565		$	2,881,473.33		$	89.08
Current month additions		0.00000			0.00
Current month redemptions		(1,601.83006	)		(144,857.05	)
Net income (loss) for current month					17,145.89			0.49
Net asset value, end of current month		30,744.43559		$	2,753,762.17		$	89.57
Monthly rate of return								0.55	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

EQUINOX FRONTIER LONG/SHORT COMMODITY FUND - Class 1a

EQUINOX FRONTIER DIVERSIFIED FUND

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

August 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	(16,771.12	)
Unrealized trading gain (loss)		(1,224,900.34	)
Less: Commissions		(495.74	)
Less: Trading Fee paid to Managing Owner		(122,370.35	)
Interest income		9,403.71
Total Income		(1,355,133.84	)
EXPENSES
Trading fees		0.00
Broker service fees		20,282.82
Incentive fees		0.00
Management fees		3,485.76
Total Expenses		23,768.58
Net Income (Loss)	$	(1,378,902.42	)

Statement of Changes in Net Asset Value

	Units			Dollars			Aggregate Net Asset Value per unit*
Net asset value, beginning of month		441,632.47678		$	58,083,852.74		$	131.52
Current month additions		6,582.49408			864,522.09
Current month redemptions		(5,629.30887	)		(704,961.15	)
Net income (loss) for current month					(1,378,902.42	)		(3.04	)
Net asset value, end of current month		442,585.66199		$	56,864,511.26		$	128.48
Monthly rate of return								-2.31	%

* Please see your specific Class Statement of Income (Loss) for your specific unit value.

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - EQUINOX FRONTIER DIVERSIFIED FUND

EQUINOX FRONTIER MASTERS FUND

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

August 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	35,167.33
Unrealized trading gain (loss)		(597,248.55	)
Less: Commissions		(1,748.81	)
Less: Trading Fee paid to Managing Owner		(43,402.12	)
Interest income		9,631.07
Total Income		(597,601.08	)
EXPENSES
Trading fees		0.00
Broker service fees		12,789.65
Incentive fees		27,434.65
Management fees		9,926.06
Total Expenses		50,150.36
Net Income (Loss)	$	(647,751.44	)

Statement of Changes in Net Asset Value

	Units			Dollars			Aggregate Net Asset Value per unit*
Net asset value, beginning of month		156,690.22019		$	20,614,938.41		$	131.56
Current month additions		1,238.84920			161,467.17
Current month redemptions		(2,209.58650	)		(278,755.22	)
Net income (loss) for current month					(647,751.44	)		(4.09	)
Net asset value, end of current month		155,719.48289		$	19,849,898.92		$	127.47
Monthly rate of return								-3.11	%

* Please see your specific Class Statement of Income (Loss) for your specific unit value.

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - EQUINOX FRONTIER MASTERS FUND

EQUINOX FRONTIER LONG/SHORT COMMODITY FUND

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

August 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	281.94
Unrealized trading gain (loss)		83,669.03
Less: Commissions		121.98
Less: Trading Fee paid to Managing Owner		(13,961.86	)
Interest income		(1,865.04	)
Total Income		68,246.05
EXPENSES
Trading fees		0.00
Broker service fees		5,387.18
Incentive fees		0.00
Management fees		2,800.54
Total Expenses		8,187.72
Net Income (Loss)	$	60,058.33

Statement of Changes in Net Asset Value

	Units			Dollars			Aggregate Net Asset Value per unit*
Net asset value, beginning of month		95,448.69166		$	10,345,580.78		$	108.39
Current month additions		398.65593			41,809.48
Current month redemptions		(3,813.68018	)		(404,196.18	)
Net income (loss) for current month					60,058.33			0.74
Net asset value, end of current month		92,033.66741		$	10,043,252.42		$	109.13
Monthly rate of return								0.68	%

* Please see your specific Class Statement of Income (Loss) for your specific unit value.

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - EQUINOX FRONTIER LONG/SHORT COMMODITY FUND