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May. 01, 2015

ASG MANAGED FUTURES STRATEGY FUND

Supplement dated March 7, 2016, to the ASG Managed Futures Strategy Fund Prospectus, dated May 1,

2015, as may be revised and supplemented from time to time.

Effective March 7, 2016, the Credit Suisse Managed Futures Liquid Index will replace the SG Trend Index (formerly known as the Newedge Trend Index) as the primary benchmark for ASG Managed Futures Strategy Fund (the “Fund”) and the SG Trend Index will become the Fund’s secondary benchmark.

Effective March 7, 2016, the “Average Annual Total Returns” table within the section “Risk/Return Bar Chart and Table” with respect to the Fund is amended and restated as follows:

 

Average Annual Total Returns
(for the periods ended December 31, 2014)
   Past 1 Year   Life of Fund
(07/30/10)
ASG Managed Futures Strategy Fund
Class A – Return Before Taxes
   14.71%   6.22%
  
 
 
 
Return After Taxes on Distributions
   9.63%   4.35%
  
 
 
 
Return After Taxes on Distributions & Sale of Fund Shares
   9.20%   4.17%
  
 
 
 
Class C – Return Before Taxes
   20.01%   6.84%
  
 
 
 
Class Y – Return Before Taxes
   22.21%   7.91%
  
 
 
 
Credit Suisse Managed Futures Liquid Index1
   15.77%   3.47%
  
 
 
 
SG Trend Index
   19.70%   5.36%
  
 
 
 

 

1 Effective March 7, 2016, the Credit Suisse Managed Futures Liquid Index replaced the SG Trend Index (formerly known as the Newedge Trend Index) as the Fund’s primary benchmark because the Fund believes the Credit Suisse Managed Futures Liquid Index, an index which systematically tracks multiple futures contracts, is a more appropriate comparison to the Fund’s investment strategies. It is not possible to invest directly in an index.