SGLIX - Global Low Volatility Fund
Overview

The Global Low Volatility Fund seeks to outperform the MSCI All-Country World Index (ACWI)® over a market cycle, while reducing overall volatility. The fund invests primarily in common stocks within Large and Mid Capitalization companies across Developed Markets (DM) and Emerging Market (EM) Countries. The fund typically invests in 40-60 companies.

Philosophy & Process

SGI’s philosophical conviction is that risk management must take primacy in the investment process. Through our approach, we manage portfolios to provide positive excess returns over a full market cycle versus the benchmark, while providing clients less volatile return streams, a participative up-side market capture, and more capital protection during market downturns.

The strategy will dynamically target volatility below current benchmark forecasted risk rather than a static target. The investment team believes this risk level is critical given that forecasted volatility has varied from around 50% to less than 10% over the last 10 years.

SGI’s investment process utilizes both quantitative analysis with a fundamental overlay. The quantitative analysis utilizes a proprietary multi-factor model to identify individual stock alphas with a focus on downside protection in the optimization process.

We then overlay a fundamental analysis on the attractive companies from our quantitative analysis. This allows us to identify and assess any idiosyncratic company risks that may not typically be identified by a quantitative model. This includes items such as unexpected management changes, aggressive accounting, litigation risk, etc.

Investment Team
David Harden
Chief Executive Officer / Chief Investment Officer
Aash Shah, CFA
Senior Portfolio Manager
Matt Hanna, CFA, FRM, CAIA
Portfolio Manager
Gautam Baid, CFA
Portfolio Manager
Richard Thawley II
Portfolio Manager
David Harden
Chief Executive Officer / Chief Investment Officer
Aash Shah, CFA
Senior Portfolio Manager
Matt Hanna, CFA, FRM, CAIA
Portfolio Manager
Gautam Baid, CFA
Portfolio Manager
Richard Thawley II
Portfolio Manager
David Harden
Chief Executive Officer / Chief Investment Officer
Aash Shah, CFA
Senior Portfolio Manager
Matt Hanna, CFA, FRM, CAIA
Portfolio Manager
Gautam Baid, CFA
Portfolio Manager
Richard Thawley II
Portfolio Manager
Fund Performance
YTD 1 mo. 3 mo. 1 yr. 3 yr. 5 yr. From Inception
YTD 1 mo. 3 mo. 1 yr. 3 yr. 5 yr. From Inception
SGLIX (Class I) 11.59% 1.75% 11.59% 8.76% 10.64% 7.37% 16.74%
ACWI 12.32% 1.31% 12.32% 3.16% 11.30% 7.06% 12.59%
As of 3/31/2019. Inception Dates: SGLIX 3/31/2009

The performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than the performance shown. Current performance may be lower or higher than that shown here. The total annual operating expense ratio, as stated in the current prospectus, is 1.25% for SGLIX. The actual expense ratio is lower due to an expense limitation agreement by the Fund's investment adviser. Performance would have been lower without fee waivers in effect. Performance is total return and is annualized for periods greater than one year. For performance current to the most recent month-end, please call (855)-744-8500. Funds sold by prospectus only.

The MSCI All-Country World Index (ACWI)® is a free-float weighted equity index. It captures Large and Mid Capitalization representation across 23 Developed Markets (DM) and 24 Emerging Markets (EM) countries. One cannot invest directly in an index.

Fee Table
Gross Expense Ratio Net Expense Ratio Initial Investment Amount Maximum Sales Load (%) 12b-1 Fees (%) Mgmt. Fee (%)
Gross Expense Ratio Net Expense Ratio Initial Investment Amount Maximum Sales Load (%) 12b-1 Fees (%) Mgmt. Fee (%)
SGLIX (Class I) 1.25 0.84 $1mil None None 0.70
Investment Considerations

Equity securities (stocks) are subject to market, economic, and business risks that will cause their price to rise or fall over time. The net asset value per share of the Fund will fluctuate as the value of the securities in the portfolio change and an investor may lose money. Although the Fund seeks lower volatility, there is no guarantee the Fund will perform as expected. Fund holdings and sector allocations are subject to change and are not recommendations to buy or sell any security. International investing is subject to special risks including, but not limited to, currency risk associated with securities denominated in other than the U.S. dollar, which may be affected by fluctuations in currency exchange rates, political, social or economic instability, and differences in taxation, auditing, and other financial practices.

Investors should consider the investment objectives, risks, charges, expenses and read the prospectus carefully before investing. For a prospectus with this and other information about the Fund, please call 855-744-8500 or see the "Mutual Fund Resources" section below.

Expense Waivers

The Fund's investment adviser has contractually agreed to waive management fees and reimburse expenses through December 31, 2019 to the extent that Total Annual Fund Operating Expenses (excluding certain items) exceed 0.84% for Class I shares. Net Expense Ratios are as of the most recent prospectus dated March 19, 2018, and are applicable to investors.

Summit Global Investments, LLC serves as an investment adviser to the Summit Global Investments US Low Volatility Equity Mutual Fund and is paid a fee for its services. Shares of the Summit Global Investments US Low Volatility Equity Mutual Fund are not deposits or obligations of, or guaranteed or endorsed by, Summit Global Investments, LLC. The Fund is not insured by the FDIC or any other government agency. The Fund is distributed by Quasar Distributors LLC, which is not affiliated with Summit Global Investments. The SEC does not endorse, indemnify, approve, nor disapprove of any security.

Fund Resources
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