THE SIERRA CORE RETIREMENT FUND
Sierra Core Retirement Fund from Inception 12/24/07 to 11/20/12
$150 - $125 - $100 - $75 - - 150 - 100 - 75 - 50
As of 9/30/2012
Sierra Core Retirement
Fund Class R (SIRRX)
S & P 500*
+ 5.84% + 6.04% + 54.10% + 11.42% + 49.28% + 8.77%
+ 16.44% + 30.20% + 34.77% + 7.80%
Our investment strategies have been
specifically developed for retirees,
those approaching retirement, and
other conservative investors. During
these turbulent times, we invite you
to ask us for more details about our
performance in both good times and
Bear Market periods.
Past performance is no guarantee of future results.
PeRFoRmanCe by QuaRteR, ClaSS R ShaReS (SIRRX)
Year Q1 Q2 Q3 Q4
Contact us for more information:
SierraMutualFunds.com or 855-879-4075
The performance data quoted here represents past performance for Class R shares (symbol SIRRX), and are net of the total annual operating expenses of
the Class R shares (see below). For performance numbers current to the most recent month end, please call toll-free 855-879-4075 or visit our website,
SierraMutualFunds.com. Current performance may be lower or higher than the performance data quoted above. The investment return and principal value
of an investment in the Fund will fluctuate, so that investors’ shares, when redeemed, may be worth more or less than their original cost. The total annual
operating expenses, including expenses of the underlying funds (estimated at 0.69% per year) are 2.34% for Class A and Class I, 2.49% for Class A1 and
Class I1, 3.09% for Class C and 2.09% for Class R. Please review the Fund’s prospectus for more information regarding the Fund’s fees and expenses.
*”Cumulative” performance from inception is the total increase in value of an investment in the Class R shares assuming reinvestment of dividends and
capital gains distributions. The S&P 500 Index, a registered trademark of McGraw-Hill Co., Inc., is a market-capitalization-weighted index of 500 widely-held common stocks.
The Fund invests in mutual funds, closed-end funds and ETFs (“underlying funds”). The Fund indirectly bears the investment management fees and
expenses of the underlying funds in addition to the investment management fees and expenses of the Fund – all of which however are fully reflected in
the above performance information. In some instances, it may be less expensive for an investor to invest in the underlying funds directly. There is also a
risk that investment advisors of those underlying funds may make investment decisions that are detrimental to the performance of the Fund. Investments
in underlying funds that own small- and mid-capitalization companies may be more vulnerable than larger, more established organizations to adverse
business or economic developments. Investments in underlying funds that invest in foreign equity and debt securities could subject the Fund to greater
risks including, currency fluctuation, economic conditions, and different governmental and accounting standards. The Net Expense Ratio is the total annual
Fund operating expenses less acquired fund fees and expenses.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Sierra Core Retirement Fund. This
and other information about the Fund is contained in the prospectus and should be read carefully before investing. The prospectus
and other information can be obtained on our website, www.SierraMutualFunds.com, or by calling toll free 855-879-4075. The Sierra
Core Retirement Fund is distributed by Northern Lights Distributors, LLC, Member FINRA.