Catalyst Dynamic Alpha Fund (CPECX)

The fund seeks to achieve its investment objective by investing primarily in common stocks of U.S. companies. In addition to common stocks, other types of equity securities in which the fund may invest include real estate investment trusts ("REITs") and American Depositary Receipts ("ADRs"). Under normal conditions, the fund invests at least 80% of the fund's net assets plus any borrowings for investment purposes in equity securities defined as common stocks, REITs and ADRs. It is non-diversified.