• Institutional-quality asset management, available with $2500 minimums and no sales loads¹ with competitive total expense ratios².

    Institutional-quality asset management, available with $2500 minimums and no sales loads¹ with competitive total expense ratios².

  • Actively-managed funds investing in Natural Resources or MLP & Infrastructure, with Forms 1099 instead of burdensome K-1 tax filings.

    Actively-managed funds investing in Natural Resources or MLP & Infrastructure, with Forms 1099 instead of burdensome K-1 tax filings.

  • The Recurrent Natural Resources Fund seeks to achieve total return by investing in energy, infrastructure and materials.

    The Recurrent Natural Resources Fund seeks to achieve total return by investing in energy, infrastructure and materials.

  • The Recurrent MLP & Infrastructure seeks total return with significant tax-deferred “return of capital” income from MLPs and other energy infrastructure assets.

    The Recurrent MLP & Infrastructure seeks total return with significant tax-deferred “return of capital” income from MLPs and other energy infrastructure assets.

RECURRENT NATURAL RESOURCES FUND (RNRGX)

90 bps management fee; 125 bps total expense².

Objective: Total return from energy, materials, industrial, and infrastructure investments.

  • Structure: RIC; 1099 issuer; no K-1s.
  • Dividends: At least annually, typically taxable as ordinary (taxable as ordinary income) or qualified dividends (at capital gains rates).
  • Lead Portfolio Manager: Mark Laskin, CFA
  • Relevant Experience: Laskin offers 18 years of portfolio management experience, including overseeing energy investments for BP Capital Fund Advisors (BPCFA), Invesco, Van Kampen.

As Chief Investment Officer (CIO) of BPCFA, assets under management (AUM) grew from $45mm to nearly $400mm over 3 years (2013-16), in a turbulent energy market.

RECURRENT MLP & INFRASTRUCTURE FUND (RMLPX)

90 bps management fee; 125 bps total expense².

Objective: Total return and current income from MLP and infrastructure investments.

  • Structure: C-Corp; 1099 issuer; no K-1s.
  • Dividends: Quarterly, typically taxable as qualified dividends (taxable at capital gain rates) or returns of capital (not taxable when received).
  • Lead Portfolio Manager: Brad Olsen
  • Relevant Experience: Olsen offers 11 years of MLP & infrastructure investment experience, overseeing MLP investments at BPCFA, plus experience at Eagle Global, Millennium.

As head of midstream research at TPH, Olsen received several national awards for stock picking excellence from the Financial Times, WSJ and Starmine in 2013 and 2014.

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  • 1. No-Load mutual funds are sold without a sales charge, however other fees and expenses do apply to an investment in the Fund.

  • 2. The Fund's advisor has contractually agreed to reduce its fees until November 1, 2018. Without the waiver, total annual operating expenses would be 2.24% for RNRGX and 2.74% for RMLPX.
  • Investors should carefully consider the investment objectives, risks, charges and expenses of the Recurrent Funds. This and other important information about the Funds is contained in the prospectus, which can be obtained by calling 833-RECURRENT. The prospectus should be read carefully before investing. The Recurrent Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC.
  • Recurrent Investment Advisors is not affiliated with Northern Lights Distributors, LLC.
  • Risk Disclosure (RNRGX)
  • Mutual Funds involve risk, including the potential loss of principal. Higher turnover and frequent trading may result in higher costs. Cash available for distribution by MLPs may vary and could be affected by the entity’s operations, including capital expenditures, operating, acquisition, construction, exploration and borrowing costs, reducing the amount of cash and MLP has available for distribution. MLPs and other companies operating in the energy infrastructure industry may be affected by fluctuations in the prices of energy commodities. The Fund may focus on one or more industries, sectors or geographic regions of the economy and the value of an investment may fluctuate more widely than if it were diversified. The Fund could lose money if the issuer of a fixed income security is unwilling or unable to make payment. Cyber-attacks or failures affecting the Fund or service providers may adversely impact the Fund or its shareholders.
  • The value of fixed income securities and derivatives will fluctuate with changes in interest rates. Investments in high yield debt instruments may involve greater levels of interest rate, credit, liquidity and valuation risk than for higher rated instruments. The purchase of IPO shares may involve high transaction cost, market and liquidity risks. The investment strategies employed by the Advisor may not result in an increase in value or performance. Overall equity market risk may affect the value of individual instruments in which the Fund invests. Holders of MLPs have limited control and voting rights, additionally, there are certain tax risks and conflicts of interest between holders of MLPs and the general partner. The Fund focuses investments in the natural resource sector which is susceptible to adverse economic, environmental, business, regulatory and other occurrences affecting that sector. The Fund is newly-formed and may not grow to or maintain economically viable size, not be successful implementing its investment strategy, which could result in the Fund being liquidated. If the Fund fails to qualify as a RIC, it would be taxed as an ordinary corporation, subject to corporate income tax. The resulting corporate taxes could substantially reduce the Fund’s net assets, the amount of income available for distribution, amount of distributions and have adverse effects on the Fund and its shareholders.
  • Risk Disclosure (RMLPX)
  • Mutual Funds involve risk including the potential loss of principal. Higher turnover and frequent trading may result in higher costs. Cash available for distribution by MLPs may vary and could be affected by the entity’s operations, including capital expenditures, operating, acquisition, construction, exploration and borrowing costs, reducing the amount of cash and MLP has available for distribution. The Fund may focus on one or more industries, sectors or geographic regions of the economy and the value of an investment may fluctuate more widely than if it were diversified. Tax risks associated with the Fund include fund structure risk, MLP tax risk, and tax estimation/NAV risk. Cyber-attacks or failures affecting the Fund or service providers may adversely impact the Fund or its shareholders.
  • The Fund invests primarily in the energy sector and infrastructure industry and is susceptible to adverse economic, environmental, and regulatory concerns. Additional risks include acquisition, catastrophic event, commodity price, depletion, natural resource, supply/demand and weather risk. The purchase of IPO shares may involve high transaction cost, market and liquidity risks. The investment strategies employed by the Advisor may not result in an increase in value or performance. Overall equity market risk may affect the value of individual instruments in which the Fund invests. Holders of MLPs have limited control and voting rights, additionally, there are certain tax risks and conflicts of interest between holders of MLPs and the general partner. The Fund is newly-formed and may not grow to or maintain economically viable size, not be successful implementing its investment strategy, which could result in the Fund being liquidated. (8423-NLD-12/19/2017)

Literature

INVESTMENT SUBADVISOR

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