|PERFORMANCE||THROUGH DECEMBER 31, 2016|
|1 Mo.||3 Mo.||6 Mo.||YTD||1 Yr||2 Yr (Ann)||3 Yr (Ann)||Inception Annuallzed||Since Inception|
|EuroPac Gold Fund*|
|with impact of maximum sales charge||-5.03%||-22.10%||-22.17%||65.29%||65.29%||10.07%||2.63%||-2.20%||-7.39%|
|without impact of maximum sales charge||-0.52%||-18.40%||-18.47%||73.02%||73.02%||12.66%||4.21%||-0.89%||-3.04%|
|Philadelphia Gold & Silver Index**||-1.24%||-16.04%||-19.08%||74.92%||74.92%||7.91%||-1.24%||-4.30%||-13.95%
*Inception Date: 7/19/2013.
** Reflects no deduction for fees, expenses or taxes. Clients cannot invest directly in the Philadelphia Gold & Silver Index.
The gross and net expense ratios of the EuroPac Gold Fund are 1.99% and 1.52%, respectively. The performance data quoted here represents past performance. Past performance does not guarantee future results. The investment return and principal will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information quoted. Investors may obtain performance information current to the most recent month-end, within 7 business days, by calling +1 (888) 949-9940. A redemption fee of 2.00% may be imposed on redemptions of shares you have owned for 30 days or less. Please see the prospectus for more information. The performance data reflects payment of the 4.50% maximum sales charge at the beginning of the stated periods.
The Fund’s advisor has contractually agreed to waive its fees and/or absorb expenses of the Fund to ensure that total annual fund operating expenses do not exceed 1.50% of average daily net assets of the Fund. This agreement is effective until March 1, 2017, and may be terminated by the Trust’s Board of Trustees (the “Board”). The Fund’s advisor is permitted to seek reimbursement from the Fund, subject to limitations, for fees it waived and Fund expenses it paid. The advisor is permitted to seek reimbursement from the Fund for a period of three fiscal years following the fiscal year in which fees were waived or reimbursed.
Foreign investments present additional risk due to currency fluctuations, which means the value of securities can change significantly when foreign currencies strengthen or weaken relative to the U.S. dollar, economic and political factors, government regulations, differences in accounting standards and other factors. Investments in emerging markets involve even greater risks. The Funds will be more susceptible to the economic, market, political, regulatory, local risks and potential natural disasters of the European and Pacific Rim regions than a fund that is more geographically diversified. The economies Latin American countries are particularly sensitive to fluctuations in commodity prices, currencies and global demand for commodities. Investments closely tied to the Latin American region are generally characterized by high interest, inflation, and unemployment rates and may be more volatile.
Small, and mid cap stocks are subject to substantial risks such as market, business, size volatility, management experience, product diversification, financial resource, competitive strength, liquidity, and potential to fall out of favor that may cause their prices to fluctuate over time, sometimes rapidly and unpredictably. The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments. Generally, fixed income securities decrease in value if interest rates rise and increase in value if interest rates fall, with lower rated securities more volatile than higher rated securities.
The Funds may be susceptible to government regulation, impacting hard asset sectors (such as the precious metals, natural resources, and real estate sectors). Precious metals and natural resources securities are at times volatile and there may be sharp fluctuations in prices, even during periods of rising prices. To the extent the Funds use futures, swaps, and other derivatives, it is exposed to additional volatility and potential losses resulting from leverage. The use of derivatives involves risks different from, and possibly greater than, the risks associated with investing directly in the underlying assets. Derivatives can be highly volatile, illiquid, and difficult to value. The Funds may be subject to greater risks than a fund whose portfolio has exposure to a broader range of sectors.
The Fund may invest in options and futures which are subject to special risks and may not fully protect the Fund against declines in the value of its stocks. In addition, an option writing strategy limits the upside profit potential normally associated with stocks. Futures trading are very speculative, largely due to the traditional volatility of futures prices.
Risks of Investment: Please read about the Risks of investing in the Fund.
You should carefully consider the Fund’s investment objectives, risk, charges, and expenses before investing.
To obtain a prospectus that contains this and other information about the Fund, please click here or call +1 (888) 558-5851. Please read the prospectus carefully before investing.
Euro Pacific Funds are distributed by IMST Distributors, LLC.