GuidePath Funds A proprietary mutual fund family exclusively for use within GPS Solutions on the investment platform
Page 1 of 24 Contents I. Introduction to GuidePath Funds 3 II. Mutual Fund Fact Sheets GuidePath Strategic Asset Allocation 4 GuidePath Tactical Constrained Asset Allocation 7 GuidePath Tactical Unconstrained Asset Allocation 10 GuidePath Absolute Return Asset Allocation 13 GuidePath Multi-Asset Income Asset Allocation 16 GuidePath Fixed Income Allocation 19 GuidePath Altegris Diversified Alternatives Allocation 22
Page 3 of 24 Introduction to the GuidePath Funds Working with your advisor to decide how to allocate your assets is one of the most important decisions to make for your long-term portfolio health. An investor may benefit during both bull and bear markets by choosing some investments that maintain persistent market exposure, for upside capture, and other investments that seek to avoid downside market exposure, although asset allocation cannot eliminate the risk of fluctuating prices and uncertain returns. At,Inc. () we offer asset allocation solutions designed to help you and your advisor construct portfolios suited to your individual goals. selects and monitors institutional and boutique portfolio strategists to implement four distinct asset allocation approaches in addition to alternative investment strategies. The GuidePath Fund family includes funds for each of the asset allocation approaches covering both capital appreciation and income mandates as well as other strategies. is the advisor for the GuidePath Funds and makes asset allocation decisions using various factors, including asset allocation approaches developed by various research providers. To gain exposure to the asset classes underlying each asset allocation approach and strategy, GuidePath Funds may invest in: 1 GuideMark Mutual Funds 2 Altegris Mutual Funds 3 Exchange Traded Funds (ETFs) 4 Third Party Mutual Funds The GuidePath Funds are funds of funds exclusively used in GPS Solutions, which are designed to provide a streamlined, diversified portfolio that can be matched to your individual investment objectives and risk tolerance. On the following pages, we invite you to learn more about the GuidePath Funds. Before investing in any of these Funds, you should carefully consider their investment objectives, risks, management fees, and expenses. To obtain a prospectus, which contains this and other important information regarding the Funds, please visit www.assetmark.com/about/funds. Please read the prospectus carefully before investing.
Page 4 of 24 GuidePath Funds Strategic Asset Allocation Ticker Symbol GPSTX INVESTMENT OBJECTIVE The Fund seeks to maximize total return, consisting of a combination of longterm capital appreciation and current income, while moderating risk and volatility in the portfolio. INVESTMENT APPROACH The Fund operates as a fund of funds, investing primarily in registered mutual funds and exchange traded funds (ETFs), seeking to provide a strategic asset allocation approach, in an effort to capture broad capital market returns while seeking to balance the pursuit of maximum total return against the control of total risk in the portfolio. The Fund expects to maintain at least 90% of its allocation to equities and up to 10% in fixed income securities (both domestic and international). The portfolio managers leverage research on strategic asset allocation from various research providers that rely on fundamental and quantitative analysis in developing their long-term capital market expectations, the economic outlook, and assumptions regarding risks and returns. Broad asset class exposures are implemented using GuideMark Funds and exchange traded funds. Exposures to specific niche markets may be obtained through the use of third party funds. Current research providers include Callan Associates and New Frontier Advisors, who collectively are responsible for over $1.9 trillion in assets under management as of December 2013. These research providers may change at any time. INVESTMENT ADVISOR (since inception) offers a managed account program that delivers sophisticated fee-based investment management solutions for investment advisors and independent brokerdealers. had over $21 billion in assets as of March 2014. PORTFOLIO MANAGER Michael Abelson, CFA: with over 15 years of investment experience Zoë Brunson, CFA: with over 15 years of investment experience * During the Fund s most recent fiscal year. ** Net Expense Ratio OVERVIEW Share Class Service Inception Date 04/29/2011 CUSIP 36191E102 Total Net Assets $266,650,556 Net Asset Value Per Share $11.53 Portfolio Turnover Rate* 30.35% ANNUAL OPERATING EXPENSES Management Fees Distribution and/or Service (12b-1) Fees Other Expenses 1. Administrative Service Fees 2. All Other Expenses 0.50% Acquired Fund Fees and Expenses 0.61% Total Annual Fund Operating Expenses 1.61% Amount of Fee Waiver and/or Expense Assumption 0.04% Total Annual Fund Operating Expenses** (After Fee Waiver and/or Expense Assumption) 1.65%
Page 5 of 24 GuidePath Strategic Asset Allocation Fund MSCI AC WORLD STANDARDIZED TOTAL RETURNS 1 MSCI AC WORLD S&P 500 QTR -3.19% -2.20% 1.13% YTD 1.50% 4.16% 8.34% 1 YR 8.04% 11.89% 19.73% 3 YR 15.26% 17.24% 22.99% 5 YR N/A N/A N/A 10 YR N/A N/A N/A Since Inception (4/29/2011) 5.60% 7.60% 13.83% Gross Expense Ratio 1.61% N/A N/A The MSCI All Country World index was selected to closely track the fund s stated strategic investment allocation, though the actual allocation percentages in the fund can vary based on short-term tactical over or underweightings for each asset category. ASSET ALLOCATION US Equities 45.73% Int'l Developed Equities 4 EM Equities 4.61% US Fixed Income 0.00% Int'l Developed Fixed Income 0.00% EM Fixed Income 0.00% Opportunistic Fixed Income 0.00% Alternatives 3.12% Multi-Asset 4.36% Cash 1.93% TOP 10 HOLDINGS GuideMark SM World ex-us Fund - Institutional Shares 18.33% Vanguard FTSE All-World ex-us Index Fund 18.01% SPDR S&P 500 ETF Trust 14.47% GuideMark SM Small/Mid Cap Core Fund - Institutional Shares 8.48% GuideMark SM Large Cap Value Fund - Institutional Shares 7.26% GuideMark SM Large Cap Growth Fund - Institutional Shares 7.16% GuideMark SM Opportunistic Equity Fund - Institutional Shares 5.14% GuideMark SM Global Real Return Fund - Institutional Shares 4.36% ishares Core MSCI Emerging Markets ETF 2.71% Altegris Multi-Strategy Alternatives Fund - Institutional Shares 2.09% ABOUT RISK Performance data represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, and when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. The performance shown reflects the net expense ratio of 1.65%. The performance shown may reflect a fee waiver/expense exemption. If a waiver/ exemption is applicable and were to be removed, the performance shown would be lower. The asset allocation breakdown and top ten holdings are expressed as percentages of the total portfolio as of September 30, 2014, and are subject to change. For the most recent month end performance please call 888-278-5809. The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the underlying funds to meet their investment objectives, and the Fund s shareholders will be affected by the investment policies of the underlying funds in direct proportion to the amount of assets that the Fund allocates to the underlying funds. There can be no assurance that the Fund or the underlying funds will achieve their investment objectives. Please see the prospectus for more complete information about the asset class risks specific to the underlying funds and ETFs this Fund may invest in. Not FDIC insured. No bank or federal government guarantee. May lose value. 1 The returns shown for the QTR and YTD periods are cumulative. The returns shown for the 1 Year and Since Inception periods are annualized. Fund s Primary Benchmark Fund s Secondary Benchmark
Page 6 of 24 GuidePath Strategic Asset Allocation Fund STRATEGIC ASSET ALLOCATION DISCLOSURES Mutual funds are sold by prospectus. The prospectus contains information on the investment objectives, risk factors, fees and charges, as well as other important information about the Fund that your clients should carefully consider. You can obtain prospectuses by visiting www.assetmark.com/about/funds. The S&P 500 Index, a registered trademark of The McGraw-Hill Companies, is an unmanaged basket of 500 US stocks that are considered to be widely held and thus believed to be a good indicator of overall US equity market performance. The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. The MSCI ACWI consists of 45 country indices comprising 24 developed and 21 emerging market country indices. You cannot invest directly into an index. ADDITIONAL DISCLOSURES Unless otherwise noted, all information contained herein is as of the date of publication of this brochure. This brochure contains information about the GuidePath Strategic Asset Allocation Fund, which is distributed by Brokerage TM, LLC, member FINRA. Shares of these mutual funds are not insured by the FDIC, are not deposits or obligations of, or guaranteed or endorsed by, any bank or other insured depository institution. An investment in a Fund is subject to investment risks, including possible loss of principal., Inc. has contractually agreed through July 31, 2015 to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that annual fund operating expenses (excluding Distribution and/or Service (12b-1) Fees, Administrative Service Fees, taxes, interest, trading costs, acquired fund expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.50% of average daily net assets of the Fund. This fee waiver/expense assumption may not be terminated prior to July 31, 2015 unless the Board of Trustees consents to an earlier revision or termination. The Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). For example, the Fund may invest in Underlying Funds that are advised by Altegris, including the Altegris Futures Evolution Strategy Fund, the Altegris Managed Futures Strategy Fund, the Altegris Macro Strategy Fund, the Altegris Equity Long Short Fund, the Altegris / AACA Real Estate Long Short Fund, and the Altegris Fixed Income Long Short Fund. Because the Advisor and/or its affiliates receive asset-based fees for providing services to the affiliated Underlying Funds, the Fund s investments in such affiliated Underlying Funds would benefit the Advisor and/or its affiliates. Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund s assets.
Page 7 of 24 GuidePath Funds Tactical Constrained Asset Allocation Ticker Symbol GPTCX INVESTMENT OBJECTIVE The Fund seeks to maximize total return, consisting of a combination of longterm capital appreciation and current income, while moderating risk and volatility in the portfolio. INVESTMENT APPROACH The Fund operates as a fund of funds, investing primarily in registered mutual funds and exchange traded funds (ETFs), seeking to provide an asset allocation that makes moderate tactical shifts from a strategic baseline in an effort to capture broad capital market returns while managing risk. The portfolio managers leverage research on Tactical Constrained asset allocation from various research providers that rely on fundamental and quantitative analysis in developing their long-term capital market expectations, the economic outlook, and assumptions regarding risks and returns. Under normal circumstances, the Fund s asset allocation mix is expected to be 75% equities, 23% fixed income securities and 2% cash equivalent investments. Broad asset class exposures are implemented using GuideMark Funds and exchange traded funds. Exposures to specific niche markets may be obtained through the use of third party funds. Current research providers include Savos Investments, J.P. Morgan Asset Management, Litman Gregory Asset Management and State Street Global Advisors, who collectively are responsible for over $4.0 trillion in assets under management as of December 2013. These research providers may change at any time. INVESTMENT ADVISOR (since inception) offers a managed account program that delivers sophisticated fee-based investment management solutions for investment advisors and independent brokerdealers. had over $21 billion in assets as of March 2014. PORTFOLIO MANAGER Michael Abelson, CFA: with over 15 years of investment experience Zoë Brunson, CFA: with over 15 years of investment experience * During the Fund s most recent fiscal year. ** Net Expense Ratio OVERVIEW Share Class Service Inception Date 04/29/2011 CUSIP 36191E300 Total Net Assets $178,521,405 Net Asset Value Per Share $11.56 Portfolio Turnover Rate* 69.17% ANNUAL OPERATING EXPENSES Management Fees Distribution and/or Service (12b-1) Fees Other Expenses 1. Administrative Service Fees 2. All Other Expenses 0.27% 0.52% Acquired Fund Fees and Expenses 0.71% Total Annual Fund Operating Expenses 1.73% Amount of Fee Waiver and/or Expense Assumption 0.03% Total Annual Fund Operating Expenses** (After Fee Waiver and/or Expense Assumption) 1.76%
Page 8 of 24 GuidePath Tactical Constrained Asset Allocation Fund STANDARDIZED TOTAL RETURNS 1 MSCI ACWI BLENDED (GROSS) S&P 500 INDEX* QTR -2.36% -2.20% 1.13% -2.35% YTD 2.03% 4.16% 8.34% 5.09% 1 YR 7.92% 11.89% 19.73% 9.25% 3 YR 12.44% 17.24% 22.99% 13.15% 5 YR N/A N/A N/A N/A 10 YR N/A N/A N/A N/A Since Inception (4/29/2011) 5.36% 7.60% 13.83% 6.63% Gross Expense Ratio 1.73% N/A N/A N/A The blended index returns shown above are a weighted combination of 75% MSCI All Country World Index, 25% Barclays US Aggregate Bond Index. The blend was constructed to closely track the fund s stated Tactical Constrained investment allocation, though the actual allocation percentages in the fund can vary based on short-term tactical over or underweightings for each asset category. Returns are weighted on a 75/25 basis for each historical month and then the longer-term Blended Index returns are geometrically combined from these historical monthly returns to create aggregate returns (1-year, 3-years, 5-years, etc.) for the blended index. ASSET ALLOCATION** US Equities 49.28% Int'l Developed Equities 22.50% EM Equities 4.99% US Fixed Income 10.98% Int'l Developed Fixed Income 0.00% EM Fixed Income 0.00% Opportunistic Fixed Income 7.44% Alternatives 2.88% Multi-Asset 0.00% Cash 1.93% TOP 10 HOLDINGS GuideMark SM World ex-us Fund - Institutional Shares 19.50% SPDR S&P 500 ETF Trust 14.12% GuideMark SM Opportunistic Equity Fund - Institutional Shares 10.97% GuideMark SM Core Fixed Income Fund - Institutional Shares 8.44% GuideMark SM Large Cap Growth Fund - Institutional Shares 7.05% GuideMark SM Small/Mid Cap Core Fund - Institutional Shares 7.03% GuideMark SM Large Cap Value Fund - Institutional Shares 6.31% GuideMark SM Opportunistic Fixed Income Fund - Institutional Shares 6.04% ishares Core MSCI Emerging Markets ETF 4.99% Vanguard REIT ETF 3.05% ABOUT RISK Performance data represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, and when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. The performance shown reflects the net expense ratio of 1.76%. The performance shown may reflect a fee waiver/expense exemption. If a waiver/ exemption is applicable and were to be removed, the performance shown would be lower. The asset allocation breakdown and top ten holdings are expressed as percentages of the total portfolio as of September 30, 2014, and are subject to change. For the most recent month end performance please call 888-278-5809. The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the underlying funds to meet their investment objectives, and the Fund s shareholders will be affected by the investment policies of the underlying funds in direct proportion to the amount of assets that the Fund allocates to the underlying funds. There can be no assurance that the Fund or the underlying funds will achieve their investment objectives. Please see the prospectus for more complete information about the asset class risks specific to the underlying funds and ETFs this Fund may invest in. Not FDIC insured. No bank or federal government guarantee. May lose value. 1 The returns shown for the QTR and YTD periods are cumulative. The returns shown for the 1 Year and Since Inception periods are annualized. Fund s Primary Benchmark. * Blended Index is 75% MSCI AC World Index + 25% Barclays US Aggregate Bond Index. Fund s Secondary Benchmark. ** The allocation to the GuideMark Opportunistic Fixed Income Fund is classified under international fixed income; however, this GuideMark Fund may contain some US and emerging market fixed income securities.
Page 9 of 24 GuidePath Tactical Constrained Asset Allocation Fund TACTICAL CONSTRAINED ASSET ALLOCATION DISCLOSURES Mutual funds are sold by prospectus. The prospectus contains information on the investment objectives, risk factors, fees and charges, as well as other important information about the Fund that your clients should carefully consider. You can obtain prospectuses by visiting www.assetmark.com/about/funds. The S&P 500 Index, a registered trademark of The McGraw-Hill Companies, is an unmanaged basket of 500 US stocks that are considered to be widely held and thus believed to be a good indicator of overall US equity market performance. The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. The MSCI ACWI consists of 45 country indices comprising 24 developed and 21 emerging market country indices. The Barclays US Aggregate Bond Index is a broad-based index that measures the investment grade, US-dollar-denominated, fixed rate taxable bond market, including Treasuries, government-related and corporate securities, MBSs (agency fixed rate and hybrid ARM pass throughs), ABSs and CBMs. You cannot invest directly into an index. ADDITIONAL DISCLOSURES Unless otherwise noted, all information contained herein is as of the date of publication of this brochure. This brochure contains information about the GuidePath Tactical Constrained Asset Allocation Fund, which is distributed by Brokerage TM, LLC, member FINRA. Shares of these mutual funds are not insured by the FDIC, are not deposits or obligations of, or guaranteed or endorsed by, any bank or other insured depository institution. An investment in a Fund is subject to investment risks, including possible loss of principal., Inc. has contractually agreed through July 31, 2015 to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that annual fund operating expenses (excluding Distribution and/or Service (12b-1) Fees, Administrative Service Fees, taxes, interest, trading costs, acquired fund expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.50% of average daily net assets of the Fund. This fee waiver/expense assumption may not be terminated prior to July 31, 2015 unless the Board of Trustees consents to an earlier revision or termination. The Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). For example, the Fund may invest in Underlying Funds that are advised by Altegris, including the Altegris Futures Evolution Strategy Fund, the Altegris Managed Futures Strategy Fund, the Altegris Macro Strategy Fund, the Altegris Equity Long Short Fund, the Altegris / AACA Real Estate Long Short Fund, and the Altegris Fixed Income Long Short Fund. Because the Advisor and/or its affiliates receive asset-based fees for providing services to the affiliated Underlying Funds, the Fund s investments in such affiliated Underlying Funds would benefit the Advisor and/or its affiliates. Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund s assets.
Page 10 of 24 GuidePath Funds Tactical Unconstrained Asset Allocation Ticker Symbol GPTUX INVESTMENT OBJECTIVE The Fund seeks to maximize total return, consisting of a combination of longterm capital appreciation and current income, while moderating risk and volatility in the portfolio. INVESTMENT APPROACH Fund operates as a fund of funds, investing primarily in registered mutual funds and exchange traded funds (ETFs), seeking to provide a tactical asset allocation in an effort to take advantage of shorter-term opportunities to increase returns or to seek to aggressively mitigate risks through tactical, and potentially frequent, allocation shifts among asset classes. The portfolio managers leverage research on Tactical Unconstrained asset allocation from various research providers that rely on fundamental and quantitative analysis in developing their long-term capital market expectations, the economic outlook, and assumptions regarding risks and returns. The Fund s asset allocation mix among equities, fixed income and cash equivalents is intended to change frequently over time. Broad asset class exposures are implemented using GuideMark Funds and exchange traded funds. Exposures to specific niche markets may be obtained through the use of third party funds. Current research providers include Beaumont Capital Management, Eaton Vance Investment Managers, F-Squared Investments, City National Rochdale Investments, Stadion Money Management, William Blair Investment Management, and Windham Capital Management, who collectively are responsible for over $396 billion in assets under management as of December 2013. These research providers may change at any time. INVESTMENT ADVISOR (since inception) offers a managed account program that delivers sophisticated fee-based investment management solutions for investment advisors and independent broker dealers. had over $21 billion in assets as of March 2014. PORTFOLIO MANAGER Michael Abelson, CFA: with over 15 years of investment experience Zoë Brunson, CFA: with over 15 years of investment experience * During the Fund s most recent fiscal year. ** Net Expense Ratio OVERVIEW Share Class Service Inception Date 04/29/2011 CUSIP 36191E508 Total Net Assets $465,208,444 Net Asset Value Per Share $10.86 Portfolio Turnover Rate* 244.90% ANNUAL OPERATING EXPENSES Management Fees 0.35% Distribution and/or Service (12b-1) Fees Other Expenses 1. Administrative Service Fees 2. All Other Expenses 0.55% Acquired Fund Fees and Expenses 0.76% Total Annual Fund Operating Expenses 1.86% Amount of Fee Waiver and/or Expense Assumption 0.05% Total Annual Fund Operating Expenses** (After Fee Waiver and/or Expense Assumption) 1.91%
Page 11 of 24 GuidePath Tactical Unconstrained Asset Allocation Fund STANDARDIZED TOTAL RETURNS 1 S&P 500 INDEX* BLENDED QTR -2.78% 1.13% -2.30% YTD 0.18% 8.34% 3.93% 1 YR 4.80% 19.73% 10.82% 3 YR 9.32% 22.99% 15.63% 5 YR N/A N/A N/A 10 YR N/A N/A N/A Since Inception (4/29/2011) 3.64% 13.83% 7.05% Gross Expense Ratio 1.86% N/A N/A The blended index returns shown above are a weighted combination of 90% MSCI All Country World Index, 10% Barclays Multiverse Index. The blend was constructed to track the fund s Tactical Unconstrained investment allocation under normal market conditions. The actual allocation percentages in the fund can vary frequently and significantly based on short-term tactical over or underweightings for each asset category. Returns are weighted on a 90/10 basis for each historical month and then the longer-term Blended Index returns are geometrically combined from these historical monthly returns to create aggregate returns (1-year, 3-years, 5-years, etc.) for the blended index. ASSET ALLOCATION** US Equities 37.19% Int'l Developed Equities 23.54% EM Equities 4.40% US Fixed Income 6.82% Int'l Developed Fixed Income 0.58% EM Fixed Income 0.00% Opportunistic Fixed Income 5.18% Alternatives 2.32% Multi-Asset 6.89% Cash 13.08% TOP 10 HOLDINGS SPDR S&P 500 ETF Trust 8.02% Virtus Premium AlphaSector Fund - Institutional Shares 5.71% GuideMark SM World ex-us Fund - Institutional Shares 5.45% Vanguard Total Stock Market ETF 4.74% ishares Core MSCI Emerging Markets ETF 4.22% Vanguard Extended Market Index ETF 4.21% ishares MSCI ACWI ex US Fund 3.74% GuideMark SM Opportunistic Equity Fund - Institutional 3.73% Vanguard REIT ETF 3.47% GuideMark SM Large Cap Value Fund - Institutional 3.29% 1 The returns shown for the QTR and YTD periods are cumulative. The returns shown for the 1 Year and Since Inception periods are annualized. Fund s Primary Benchmark. * Blended Index is 75% MSCI AC World Index + 25% Barclays US Aggregate Bond Index. Fund s Secondary Benchmark. ABOUT RISK Performance data represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, and when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. The performance shown reflects the net expense ratio of 1.91%. The performance shown may reflect a fee waiver/expense exemption. If a waiver/ exemption is applicable and were to be removed, the performance shown would be lower. The asset allocation breakdown and top ten holdings are expressed as percentages of the total portfolio as of September 30, 2014, and are subject to change. For the most recent month end performance please call 888-278-5809. The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the underlying funds to meet their investment objectives, and the Fund s shareholders will be affected by the investment policies of the underlying funds in direct proportion to the amount of assets that the Fund allocates to the underlying funds. There can be no assurance that the Fund or the underlying funds will achieve their investment objectives. Please see the prospectus for more complete information about the asset class risks specific to the underlying funds and ETFs this Fund may invest in. Not FDIC insured. No bank or federal government guarantee. May lose value. ** The allocation to the GuideMark Opportunistic Fixed Income Fund is classified under international fixed income; however, this GuideMark Fund may contain some US and emerging market fixed income securities.
Page 12 of 24 GuidePath Tactical Unconstrained Asset Allocation Fund TACTICAL UNCONSTRAINED ASSET ALLOCATION DISCLOSURES Mutual funds are sold by prospectus. The prospectus contains information on the investment objectives, risk factors, fees and charges, as well as other important information about the Fund that your clients should carefully consider. You can obtain prospectuses by visiting www.assetmark.com/about/funds. The S&P 500 Index, a registered trademark of The McGraw-Hill Companies, is an unmanaged basket of 500 US stocks that are considered to be widely held and thus believed to be a good indicator of overall US equity market performance. The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets. The MSCI ACWI consists of 45 country indices comprising 24 developed and 21 emerging market country indices. The Barclays Multiverse Index provides a broad-based measure of the global fixed-income bond market. The index represents the union of the Barclays Global Aggregate Bond Index and the Barclays Global High-Yield Index and captures investment grade and high yield securities in all eligible currencies. You cannot invest directly into an index. ADDITIONAL DISCLOSURES Unless otherwise noted, all information contained herein is as of the date of publication of this brochure. This brochure contains information about the GuidePath Tactical Unconstrained Asset Allocation Fund, which is distributed by Brokerage TM, LLC, member FINRA. Shares of these mutual funds are not insured by the FDIC, are not deposits or obligations of, or guaranteed or endorsed by, any bank or other insured depository institution. An investment in a Fund is subject to investment risks, including possible loss of principal., Inc. has contractually agreed through July 31, 2015 to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that annual fund operating expenses (excluding Distribution and/or Service (12b-1) Fees, Administrative Service Fees, taxes, interest, trading costs, acquired fund expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.60% of average daily net assets of the Fund. This fee waiver/expense assumption may not be terminated prior to July 31, 2015 unless the Board of Trustees consents to an earlier revision or termination. The Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). For example, the Fund may invest in Underlying Funds that are advised by Altegris, including the Altegris Futures Evolution Strategy Fund, the Altegris Managed Futures Strategy Fund, the Altegris Macro Strategy Fund, the Altegris Equity Long Short Fund, the Altegris / AACA Real Estate Long Short Fund, and the Altegris Fixed Income Long Short Fund. Because the Advisor and/or its affiliates receive asset-based fees for providing services to the affiliated Underlying Funds, the Fund s investments in such affiliated Underlying Funds would benefit the Advisor and/or its affiliates. Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund s assets.
Page 13 of 24 GuidePath Funds Absolute Return Asset Allocation Ticker Symbol GPARX INVESTMENT OBJECTIVE The Fund seeks to achieve consistent absolute positive returns over time regardless of the market environment. INVESTMENT APPROACH The Fund operates as a fund of funds, investing primarily in registered mutual funds and exchange traded funds (ETFs), seeking to provide an Absolute Return asset allocation in an effort to take advantage of shorter-term opportunities to achieve consistent absolute positive returns over time regardless of the market environment. It is important to understand that an absolute return strategy seeks to minimize annual losses while secondarily striving to maximize total return, and the strategy is likely to underperform during strong market rallies. The portfolio managers leverage research on Absolute Return asset allocation from various research providers that rely on fundamental and quantitative analysis in developing their long-term capital market expectations, the economic outlook, and assumptions regarding risks and returns. The Fund may use varying asset allocation strategies among different security types (including alternative investments) and asset classes. Broad asset class exposures are implemented using GuideMark Funds and exchange traded funds. Exposures to specific niche markets may be obtained through the use of third party funds. Current research providers include BlackRock, Inc., DoubleLine Capital, Eaton Vance Investment Managers and J.P. Morgan Asset Management, who collectively are responsible for almost $6.2 trillion in assets under management as of December 2013. These research providers may change at any time. INVESTMENT ADVISOR (since inception) offers a managed account program that delivers sophisticated fee-based investment management solutions for investment advisors and independent broker dealers. had over $21 billion in assets as of March 2014. PORTFOLIO MANAGER Michael Abelson, CFA: with over 15 years of investment experience Zoë Brunson, CFA: with over 15 years of investment experience OVERVIEW Share Class Service Inception Date 04/29/2011 CUSIP 36191E706 Total Net Assets $384,455,969 Net Asset Value Per Share $10.13 Portfolio Turnover Rate* 134.44% ANNUAL OPERATING EXPENSES Management Fees 0.35% Distribution and/or Service (12b-1) Fees Other Expenses 1. Administrative Service Fees 2. All Other Expenses 0.50% Acquired Fund Fees and Expenses 0.64% Total Annual Fund Operating Expenses 1.74% Amount of Fee Waiver and/or Expense Assumption 0.04% Total Annual Fund Operating Expenses** (After Fee Waiver and/or Expense Assumption) 1.78% * During the Fund s most recent fiscal year. ** Net Expense Ratio
Page 14 of 24 GuidePath Absolute Return Asset Allocation Fund STANDARDIZED TOTAL RETURNS 1 CITIGROUP 3 MONTH T-BILL QTR -0.59% 0.01% YTD 2.63% 0.03% 1 YR 3.67% 0.04% 3 YR 2.47% 0.05% 5 YR N/A N/A 10 YR N/A N/A Since Inception (4/29/2011) 1.56% 0.05% Gross Expense Ratio 1.74% N/A ASSET ALLOCATION* US Equities 3.58% Int'l Developed Equities 2.55% EM Equities 0.17% US Fixed Income 47.18% Int'l Developed Fixed Income 0.52% EM Fixed Income 9.25% Opportunistic Fixed Income 23.09% Alternatives 9.12% Multi-Asset 0.81% Cash 3.73% TOP 10 HOLDINGS Pioneer Strategic Income Fund - Class Y 17.87% ishares JPMorgan USD Emerging Markets Bond ETF 7.09% SPDR Barclays High Yield Bond ETF 6.95% DoubleLine Total Return Bond Fund - Institutional 6.49% Vanguard Mortgage-Backed Securities ETF 6.01% T. Rowe Price Institutional Floating Rate 5.61% John Hancock Funds II - Alternative Asset Allocation Fund - Institutional Shares 4.08% Vanguard Long-Term Corporate Bond Fund 3.63% GuideMarkSM Core Fixed Income Fund - Institutional Shares 3.13% SPDR Barclays Short Term Corporate Bond ETF 2.93% 1 The returns shown for the QTR and YTD periods are cumulative. The returns shown for the 1 Year and Since Inception periods are annualized. * The allocation to the GuideMark Opportunistic Fixed Income Fund is classified under international fixed income; however, this GuideMark Fund may contain some US and emerging market fixed income securities. ABOUT RISK Performance data represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, and when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. The performance shown reflects the net expense ratio of 1.78%, which is the same as the gross expense ratio because there was no fee waiver. The performance shown may reflect a fee waiver/expense exemption. If a waiver/ exemption is applicable and were to be removed, the performance shown would be lower. The asset allocation breakdown and top ten holdings are expressed as percentages of the total portfolio as of September 30, 2014, and are subject to change. For the most recent month end performance please call 888-278-5809. The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the underlying funds to meet their investment objectives, and the Fund s shareholders will be affected by the investment policies of the underlying funds in direct proportion to the amount of assets that the Fund allocates to the underlying funds. There can be no assurance that the Fund or the underlying funds will achieve their investment objectives. Please see the prospectus for more complete information about the asset class risks specific to the underlying funds and ETFs this Fund may invest in. The fund seeks to minimize annual losses while secondarily striving to maximize total return. It is important to note that the strategy is likely to underperform during strong market rallies.
Page 15 of 24 GuidePath Absolute Return Asset Allocation Fund ABSOLUTE RETURN ASSET ALLOCATION DISCLOSURES Mutual funds are sold by prospectus. The prospectus contains information on the investment objectives, risk factors, fees and charges, as well as other important information about the Fund that your clients should carefully consider. You can obtain prospectuses by visiting www.assetmark.com/about/funds. The Citigroup US Domestic 3 Month T-Bill Index is constructed by purchasing equal dollar amounts of three-month Treasury bills at the beginning of three consecutive months. As each bill matures, all proceeds are rolled over or reinvested in a new three-month bill. The income used to calculate the monthly return is derived by subtracting the original amount invested from the maturity value. ABOUT RISK (CONT.) Please see the prospectus for more complete information about the asset class risks specific to the underlying funds and ETFs this Fund may invest in. Not FDIC insured. No bank or federal government guarantee. May lose value. You cannot invest directly into an index. ADDITIONAL DISCLOSURES Unless otherwise noted, all information contained herein is as of the date of publication of this brochure. This brochure contains information about the GuidePath Absolute Return Asset Allocation Fund, which is distributed by Brokerage TM, LLC, member FINRA. Shares of these mutual funds are not insured by the FDIC, are not deposits or obligations of, or guaranteed or endorsed by, any bank or other insured depository institution. An investment in a Fund is subject to investment risks, including possible loss of principal., Inc. has contractually agreed through July 31, 2015 to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that annual fund operating expenses (excluding Distribution and/or Service (12b-1) Fees, Administrative Service Fees, taxes, interest, trading costs, acquired fund expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.60% of average daily net assets of the Fund. This fee waiver/expense assumption may not be terminated prior to July 31, 2015 unless the Board of Trustees consents to an earlier revision or termination. The Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). For example, the Fund may invest in Underlying Funds that are advised by Altegris, including the Altegris Futures Evolution Strategy Fund, the Altegris Managed Futures Strategy Fund, the Altegris Macro Strategy Fund, the Altegris Equity Long Short Fund, the Altegris / AACA Real Estate Long Short Fund, and the Altegris Fixed Income Long Short Fund. Because the Advisor and/or its affiliates receive asset-based fees for providing services to the affiliated Underlying Funds, the Fund s investments in such affiliated Underlying Funds would benefit the Advisor and/or its affiliates. Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund s assets.
Page 16 of 24 GuidePath Funds Multi-Asset Income Asset Allocation Ticker Symbol GPMIX INVESTMENT OBJECTIVE The Fund seeks to maximize current income while moderating risk and volatility in the portfolio. As a secondary objective the Fund seeks capital appreciation. INVESTMENT APPROACH The Fund operates as a fund of funds, investing primarily in registered mutual funds and exchange traded funds (ETFs), seeking to provide a multi-asset income allocation, in an effort to primarily capture current income while seeking to control the total risk in the portfolio. The portfolio managers leverage research on strategic, tactical constrained and tactical unconstrained asset allocation from various research providers that rely on fundamental and quantitative analysis in developing their long-term capital market expectations, the economic outlook, and assumptions regarding risks and returns. Broad asset class exposures are implemented using GuideMark Funds and exchange traded funds. Exposures to specific niche markets may be obtained through the use of third party funds. Current research providers include BlackRock, Inc., Forward, J.P. Morgan Asset Management and New Frontier Advisors, who collectively are responsible for over $1.6 trillion in assets under management as of December 2013. These research providers may change at any time. INVESTMENT ADVISOR (since inception) offers a managed account program that delivers sophisticated fee-based investment management solutions for investment advisors and independent brokerdealers. had over $21 billion in assets as of March 2014. PORTFOLIO MANAGER Michael Abelson, CFA: with over 15 years of investment experience Zoë Brunson, CFA: with over 15 years of investment experience * During the Fund s most recent fiscal year. ** Net Expense Ratio OVERVIEW Share Class Service Inception Date 8/31/2012 CUSIP 36191E847 Total Net Assets $134,795,120 Net Asset Value Per Share $10.70 Portfolio Turnover Rate* 100.40% ANNUAL OPERATING EXPENSES Management Fees 0.35% Distribution and/or Service (12b-1) Fees Other Expenses 1. Administrative Service Fees 2. All Other Expenses 0.33% 0.58% Acquired Fund Fees and Expenses 0.63% Total Annual Fund Operating Expenses 1.81% Amount of Fee Waiver and/or Expense Assumption 0.02% Total Annual Fund Operating Expenses** (After Fee Waiver and/or Expense Assumption) 1.83%
Page 17 of 24 GuidePath Multi-Asset Income Asset Allocation STANDARDIZED TOTAL RETURN 1 MSCI WORLD HIGH DIVIDEND YIELD BLENDED INDEX* QTR -2.55% -3.40% -1.98% YTD 3.93% 4.88% 4.65% 1 YR 7.05% 11.60% 8.59% 3 YR N/A N/A N/A 5 YR N/A N/A N/A 10 YR N/A N/A N/A Since Inception (8/31/2012) 6.96% 15.45% 9.61% Gross Expense Ratio 1.81% N/A N/A The blended index returns shown above are a weighted combination of 60% MSCI World High Dividend Yield Index, 40% Barclays US Aggregate Bond Index. The blend was constructed to track the fund s stated Multi-Asset Income investment allocation under normal market conditions. The actual allocation percentages in the fund can vary frequently and significantly based on short-term tactical over or underweightings for each asset category. Returns are weighted on a 60/40 basis for each historical month and then the longer-term Blended Index returns are geometrically combined from these historical monthly returns to create aggregate returns (1-year, 3-years, 5-years, etc.) for the blended index. ASSET ALLOCATION** US Equities 16.06% Int'l Developed Equities 20.42% EM Equities 4.20% US Fixed Income 14.34% Int'l Developed Fixed Income 0.00% EM Fixed Income 8.76% Opportunistic Fixed Income 2.08% Alternatives 0.00% Multi-Asset 32.63% Cash 1.51% TOP 10 HOLDINGS BlackRock Multi-Asset Income Fund - Institutional 24.67% WisdomTree Equity Income Fund 7.72% ishares JPMorgan USD Emerging Markets Bond ETF 5.68% JPMorgan Global Equity Income Fund - Select Shares 4.19% PowerShares International Dividend Achievers Portfolio 4.19% JPMorgan Income Builder Fund - Select Shares 3.77% ishares iboxx $ High Yield Corporate Bond Fund 3.48% Forward Select Income Fund - Institutional Shares 3.15% Forward EM Corporate Debt Fund - Institutional Shares 3.08% Forward International Dividend Fund - Institutional Shares 3.06% ABOUT RISK Performance data represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, and when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. The performance shown reflects the net expense ratio of 1.83%. The performance shown may reflect a fee waiver/expense exemption. If a waiver/ exemption is applicable and were to be removed, the performance shown would be lower. The asset allocation breakdown and top ten holdings are expressed as percentages of the total portfolio as of September 30, 2014, and are subject to change. For the most recent month end performance please call 888-278-5809. The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the underlying funds to meet their investment objectives, and the Fund s shareholders will be affected by the investment policies of the underlying funds in direct proportion to the amount of assets that the Fund allocates to the underlying funds. There can be no assurance that the Fund or the underlying funds will achieve their investment objectives. Please see the prospectus for more complete information about the asset class risks specific to the underlying funds and ETFs this Fund may invest in. Not FDIC insured. No bank or federal government guarantee. May lose value. 1 The returns shown for the QTR, YTD, and Since Inception periods are cumulative. Fund s Primary Benchmark. * Blended Index is 75% MSCI AC World Index + 25% Barclays US Aggregate Bond Index. Fund s Secondary Benchmark. ** The allocation to the GuideMark Opportunistic Fixed Income Fund is classified under international fixed income; however, this GuideMark Fund may contain some US and emerging market fixed income securities.
Page 18 of 24 GuidePath Multi-Asset Income Asset Allocation MULTI-ASSET INCOME ASSET ALLOCATION DISCLOSURES Mutual funds are sold by prospectus. The prospectus contains information on the investment objectives, risk factors, fees and charges, as well as other important information about the Fund that your clients should carefully consider. You can obtain prospectuses by visiting www.assetmark.com/about/funds. The Morgan Stanley Capital International (MSCI) High Dividend Yield Index includes large and mid cap developed market stocks covered by the MSCI World Index and is designed to reflect the performance of equities selected from the parent index, excluding REITs, with higher-than-average dividend yields that are both sustainable and persistent. The Barclays US Aggregate Bond Index is a broad-based index that measures the investment grade, US-dollar-denominated, fixed rate taxable bond market, including Treasuries, government-related and corporate securities, MBSs (agency fixed rate and hybrid ARM pass throughs), ABSs and CBMs. You cannot invest directly into an index. ADDITIONAL DISCLOSURES Unless otherwise noted, all information contained herein is as of the date of publication of this brochure. This brochure contains information about the GuidePath Multi-Asset Income Allocation Fund, which is distributed by Brokerage TM, LLC, member FINRA. Shares of these mutual funds are not insured by the FDIC, are not deposits or obligations of, or guaranteed or endorsed by, any bank or other insured depository institution. An investment in a Fund is subject to investment risks, including possible loss of principal., Inc. has contractually agreed through July 31, 2015 to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that annual fund operating expenses (excluding Distribution and/or Service (12b-1) Fees, Administrative Service Fees, taxes, interest, trading costs, acquired fund expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.60% of average daily net assets of the Fund. This fee waiver/expense assumption may not be terminated prior to July 31, 2015 unless the Board of Trustees consents to an earlier revision or termination. The Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). For example, the Fund may invest in Underlying Funds that are advised by Altegris, including the Altegris Futures Evolution Strategy Fund, the Altegris Managed Futures Strategy Fund, the Altegris Macro Strategy Fund, the Altegris Equity Long Short Fund, the Altegris / AACA Real Estate Long Short Fund, and the Altegris Fixed Income Long Short Fund. Because the Advisor and/or its affiliates receive asset-based fees for providing services to the affiliated Underlying Funds, the Fund s investments in such affiliated Underlying Funds would benefit the Advisor and/or its affiliates. Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund s assets.
income securities. Mutual Fund Fact Sheet GuidePath Funds, 2014 Quarter 3 Page 19 of 24 GuidePath Funds Fixed Income Allocation Ticker Symbol GPIFX INVESTMENT OBJECTIVE The Fund seeks to provide current income while moderating risk and volatility in the portfolio. As a secondary objective the Fund seeks capital appreciation. INVESTMENT APPROACH The Fund operates as a fund of funds, investing primarily in registered mutual funds and exchange traded funds (ETFs), seeking to provide a tactical fixed income asset allocation, in an effort to capture broad capital market returns while seeking to balance the pursuit of maximum total return against the control of total risk in the portfolio. The Fund expects to maintain at least 80% of its allocation to fixed income securities (both domestic and international). The portfolio managers leverage research on strategic and tactical constrained asset allocation from various research providers that rely on fundamental and quantitative analysis in developing their long-term capital market expectations, the economic outlook, and assumptions regarding risks and returns. Broad asset class exposures are implemented using GuideMark Funds and exchange traded funds. Exposures to specific niche markets may be obtained through the use of third party funds. Current research providers include Callan Associates, J.P. Morgan Asset Management, Litman Gregory Asset Management New Frontier Advisors, and State Street Global Advisors, who collectively are responsible for approximately $6 trillion in assets under management as of December 2013. These research providers may change at any time. OVERVIEW Share Class Service Inception Date 8/31/2012 CUSIP 36191E821 Total Net Assets $156,740,049 Net Asset Value Per Share $9.69 Portfolio Turnover Rate* 67.82% ANNUAL OPERATING EXPENSES Management Fees INVESTMENT ADVISOR (since inception) offers a managed account program that delivers sophisticated fee-based investment management solutions for investment advisors and independent brokerdealers. had over $21 billion in assets as of March 2014. Distribution and/or Service (12b-1) Fees Other Expenses 1. Administrative Service Fees 2. All Other Expenses 0.26% 0.51% PORTFOLIO MANAGER Michael Abelson, CFA: with over 15 years of investment experience Zoë Brunson, CFA: with over 15 years of investment experience Acquired Fund Fees and Expenses 0.43% Total Annual Fund Operating Expenses** (After Fee Waiver and/or Expense Assumption) 1.44% * During the Fund s most recent fiscal year. ** Gross Expense Ratio
Page 20 of 24 GuidePath Fixed Income Allocation STANDARDIZED TOTAL RETURNS 1 BARCLAYS US AGGREGATE ABOUT RISK QTR -0.36% 0.17% YTD 2.97% 4.10% 1 YR 2.85% 3.96% 3 YR N/A N/A 5 YR N/A N/A 10 YR N/A N/A Since Inception (8/31/2012) 0.27% 1.12% Gross Expense Ratio 1.44% N/A ASSET ALLOCATION* US Equities 0.00% Int'l Developed Equities 0.00% EM Equities 0.00% US Fixed Income 79.06% Int'l Developed Fixed Income 0.58% EM Fixed Income 1.14% Opportunistic Fixed Income 17.45% Alternatives 0.00% Multi-Asset 0.00% Cash 1.77% TOP 10 HOLDINGS Vanguard Total Bond Market Index Fund 22.46% GuideMark SM Core Fixed Income Fund - Institutional Shares 22.43% GuideMark SM Opportunistic Fixed Income Fund - Institutional Shares 12.80% ishares Barclays 7-10 Year Treasury Bond Fund 6.54% Vanguard Mortgage-Backed Securities ETF 5.85% ishares Barclays 1-3 Year Treasury Bond Fund 5.06% PIMCO Unconstrained Bond Fund - Institutional Shares 2.94% SPDR Barclays TIPS ETF 2.92% Powershares Senior Loan Portfolio 2.59% ishares Core U.S. Credit Bond ETF 2.57% Performance data represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, and when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. The performance shown reflects the net expense ratio of 1.44%, which is the same as the gross expense ratio because there was no fee waiver. The performance shown may reflect a fee waiver/expense exemption. If a waiver/ exemption is applicable and were to be removed, the performance shown would be lower. The asset allocation breakdown and top ten holdings are expressed as percentages of the total portfolio as of September 30, 2014, and are subject to change. For the most recent month end performance please call 888-278-5809. The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the underlying funds to meet their investment objectives, and the Fund s shareholders will be affected by the investment policies of the underlying funds in direct proportion to the amount of assets that the Fund allocates to the underlying funds. There can be no assurance that the Fund or the underlying funds will achieve their investment objectives. Please see the prospectus for more complete information about the asset class risks specific to the underlying funds and ETFs this Fund may invest in. Not FDIC insured. No bank or federal government guarantee. May lose value. 1 The returns shown for the QTR, YTD, and Since Inception periods are cumulative. Fund s Primary Benchmark. * The allocation to the GuideMark Opportunistic Fixed Income Fund is classified under international fixed income; however, this GuideMark Fund may contain some US and emerging market fixed income securities.
Page 21 of 24 GuidePath Fixed Income Allocation FIXED INCOME ALLOCATION DISCLOSURES Mutual funds are sold by prospectus. The prospectus contains information on the investment objectives, risk factors, fees and charges, as well as other important information about the Fund that your clients should carefully consider. You can obtain prospectuses by visiting www.assetmark.com/about/funds. The Barclays US Aggregate Bond Index is a broad-based index that measures the investment grade, US-dollar-denominated, fixed rate taxable bond market, including Treasuries, government-related and corporate securities, MBSs (agency fixed rate and hybrid ARM pass throughs), ABSs and CBMs. You cannot invest directly into an index. Alternative investments are not suitable for all investors as the risk of loss is substantial. Please consider the investment objectives, risk factors, charges, expenses, investor financial suitability requirements, and risk factors carefully before investing. The prospectus, which contains this and other information, can be obtained by calling your financial advisor. Read it carefully before you invest. ADDITIONAL DISCLOSURES Unless otherwise noted, all information contained herein is as of the date of publication of this brochure. This brochure contains information about the GuidePath Fixed Income Allocation Fund, which is distributed by Brokerage TM, LLC, member FINRA. Shares of these mutual funds are not insured by the FDIC, are not deposits or obligations of, or guaranteed or endorsed by, any bank or other insured depository institution. An investment in a Fund is subject to investment risks, including possible loss of principal., Inc. has contractually agreed through July 31, 2015 to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that annual fund operating expenses (excluding Distribution and/or Service (12b-1) Fees, Administrative Service Fees, taxes, interest, trading costs, acquired fund expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.55% of average daily net assets of the Fund. This fee waiver/expense assumption may not be terminated prior to July 31, 2015 unless the Board of Trustees consents to an earlier revision or termination. The Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). For example, the Fund may invest in Underlying Funds that are advised by Altegris, including the Altegris Futures Evolution Strategy Fund, the Altegris Managed Futures Strategy Fund, the Altegris Macro Strategy Fund, the Altegris Equity Long Short Fund, the Altegris / AACA Real Estate Long Short Fund, and the Altegris Fixed Income Long Short Fund. Because the Advisor and/or its affiliates receive asset-based fees for providing services to the affiliated Underlying Funds, the Fund s investments in such affiliated Underlying Funds would benefit the Advisor and/or its affiliates. Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund s assets.
Page 22 of 24 GuidePath Funds Altegris Diversified Alternatives Allocation (previously Altegris Multi-Strategy Alternative Allocation; name change effective 7/31/13) Ticker Symbol GPAMX INVESTMENT OBJECTIVE The Fund seeks long-term capital appreciation with an emphasis on absolute returns and low correlation to the broader equity and fixed income markets. INVESTMENT APPROACH The Fund operates as a fund of funds, investing primarily in registered mutual funds and exchange traded funds (ETFs), seeking to provide significant diversification benefits when used in conjunction with traditional investment portfolios. Return drivers of different alternative investment strategies are evaluated using access to and analysis of proprietary fund data and other market information, and positions are optimized to meet the Fund s objective. It is important to understand that an absolute return strategy seeks to minimize annual losses while secondarily striving to maximize total return, and the strategy is likely to underperform during strong market rallies. Key alternative investment strategies within the Fund include, but are not limited to, alternative equity, alternative fixed income and macro. The mix of alternative investment strategies will change with market conditions and fluctuations in the underlying portfolio characteristics. Exposures to the different alternative investment strategies are implemented using Altegris and GuideMark Funds and exchange traded funds. INVESTMENT ADVISOR (since inception) offers a managed account program that delivers sophisticated fee-based investment management solutions for investment advisors and independent broker dealers. had over $21 billion in assets as of March 2014. INVESTMENT SUBADVISOR Altegris Advisors LLC (since inception) Founded in 2010, Altegris Advisors is an affiliate of providing a platform of alternative investments. Altegris Advisors had $1.1 billion in assets as of March 2014. PORTFOLIO MANAGER Jon Sundt: with over 27 years of investment experience*** Matt Osborne: with over 25 years of investment experience Allen Cheng: with over 22 years of investment experience*** * During the Fund s most recent fiscal year. ** Net Expense Ratio *** Jon Sundt and Allen Cheng are no longer portfolio managers for the Fund as of July 31, 2014. OVERVIEW Share Class Service Inception Date 8/31/2012 CUSIP 36191E797 Total Net Assets $111,257,943 Net Asset Value Per Share $10.11 Portfolio Turnover Rate* 40.26% ANNUAL OPERATING EXPENSES Management Fees 0.15% Distribution and/or Service (12b-1) Fees Other Expenses 1. Administrative Service Fees 2. All Other Expenses 0.28% 0.53% Acquired Fund Fees and Expenses 2.64% Total Annual Fund Operating Expenses 3.57% Amount of Fee Waiver and/or Expense Assumption -0.40% Total Annual Fund Operating Expenses** (After Fee Waiver and/or Expense Assumption) 3.17%
Page 23 of 24 GuidePath Altegris Diversified Alternatives Allocation (previously Altegris Multi-Strategy Alternative Allocation; name change effective 7/31/13) STANDARDIZED TOTAL RETURNS 1 HFRI OF S COMPOSITE CITIGROUP 3 MONTH T-BILL QTR 1.10% 0.55% 0.01% YTD 2.54% 2.68% 0.03% 1 YR 4.60% 6.45% 0.04% 3 YR N/A N/A N/A 5 YR N/A N/A N/A 10 YR N/A N/A N/A Since Inception (8/31/2012) 1.92% 6.65% 0.05% Gross Expense Ratio 3.57% N/A N/A ABOUT RISK Performance data represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, and when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. The performance shown reflects the net expense ratio of 3.17%. ASSET ALLOCATION US Equities 0.00% Int'l Developed Equities 0.00% EM Equities 0.00% US Fixed Income 0.00% Int'l Developed Fixed Income 0.00% EM Fixed Income 0.00% Opportunistic Fixed Income 0.00% Alternatives 98.06% Multi-Asset 0.00% Cash 1.94% TOP 10 HOLDINGS Altegris Equity Long Short Fund - Institutional Shares 51.38% Altegris Fixed Income Long Short Fund - Institutional Shares 29.09% Altegris Futures Evolution Strategy Fund - Institutional Shares 5.20% Altegris Managed Futures Strategy Fund - Institutional Shares 5.03% Altegris Macro Strategy Fund - Institutional Shares 4.82% Altegris /AACA Real Estate long Short Fund - Institutional Shares 2.54% The performance shown may reflect a fee waiver/expense exemption. If a waiver/ exemption is applicable and were to be removed, the performance shown would be lower. The asset allocation breakdown and top ten holdings are expressed as percentages of the total portfolio as of September 30, 2014, and are subject to change. For the most recent month end performance please call 888-278-5809. The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the underlying funds to meet their investment objectives, and the Fund s shareholders will be affected by the investment policies of the underlying funds in direct proportion to the amount of assets that the Fund allocates to the underlying funds. There can be no assurance that the Fund or the underlying funds will achieve their investment objectives. Please see the prospectus for more complete information about the asset class risks specific to the underlying funds and ETFs this Fund may invest in. Not FDIC insured. No bank or federal government guarantee. May lose value. 1 The returns shown for the QTR, YTD, and Since Inception periods are cumulative. * The allocation to the GuideMark Opportunistic Fixed Income Fund is classified under international fixed income; however, this GuideMark Fund may contain some US and emerging market fixed income securities.
Page 24 of 24 GuidePath Altegris Diversified Alternatives Allocation (previously Altegris Multi-Strategy Alternative Allocation; name change effective 7/31/13) ALTEGRIS DIVERSIFIED ALTERNATIVES ALLOCATION DISCLOSURES Mutual funds are sold by prospectus. The prospectus contains information on the investment objectives, risk factors, fees and charges, as well as other important information about the Fund that your clients should carefully consider. You can obtain prospectuses by visiting www.assetmark.com/about/funds. The HFRI (Hedge Fund Research) Fund of Funds Composite Index is an index of hedge fund of funds. Hedge funds are funds that are not tied to a market benchmark and funds of funds are funds that invest in other funds. You cannot invest directly into an index. Alternative investments are not suitable for all investors as the risk of loss is substantial. Please consider the investment objectives, risk factors, charges, expenses, investor financial suitability requirements, and risk factors carefully before investing. The prospectus, which contains this and other information, can be obtained by calling your financial advisor. Read it carefully before you invest. ADDITIONAL DISCLOSURES Unless otherwise noted, all information contained herein is as of the date of publication of this brochure. This brochure contains information about the GuidePath Altegris Diversified Alternatives Allocation Fund, which is distributed by Brokerage TM, LLC, member FINRA. Shares of these mutual funds are not insured by the FDIC, are not deposits or obligations of, or guaranteed or endorsed by, any bank or other insured depository institution. An investment in a Fund is subject to investment risks, including possible loss of principal., Inc. has contractually agreed through July 31, 2015 to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that annual fund operating expenses (excluding Distribution and/or Service (12b-1) Fees, Administrative Service Fees, taxes, interest, trading costs, acquired fund expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.50% of average daily net assets of the Fund. This fee waiver/expense assumption may not be terminated prior to July 31, 2015 unless the Board of Trustees consents to an earlier revision or termination. The Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). For example, the Fund may invest in Underlying Funds that are advised by Altegris, including the Altegris Futures Evolution Strategy Fund, the Altegris Managed Futures Strategy Fund, the Altegris Macro Strategy Fund, the Altegris Equity Long Short Fund, the Altegris / AACA Real Estate Long Short Fund, and the Altegris Fixed Income Long Short Fund. Because the Advisor and/or its affiliates receive asset-based fees for providing services to the affiliated Underlying Funds, the Fund s investments in such affiliated Underlying Funds would benefit the Advisor and/or its affiliates. Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund s assets.
, Inc. 1655 Grant Street 10th Floor Concord, CA 94520-2445 800-664-5345 The, Inc. advisory platform uses fee-based, investment advisory services provided by. Please review s Disclosure Brochure for a full description of our services, including fees and expenses. A copy of this brochure can be obtained from your Financial Advisor., Inc. is an investment adviser registered with the US Securities and Exchange Commission. Brokerage TM, LLC, member FINRA, is an affiliate of, Inc. and shares its address. 2014, Inc. All rights reserved. 2801 C30428 07/2014