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Advisors Capital Funds

10 Wilsey Square, Suite 200

Ridgewood, NJ 07450
1-201-447-3400

Shareholder Services
1-888-247-3841

Investors should consider the investment objectives, risks, charges and expenses of the Funds carefully before investing. The prospectus contains this and other information about the Funds. You may obtain a prospectus on this website or by calling the transfer agent at 1-888-247-2841. The prospectus should be read carefully before investing.

Date quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance shown. You may obtain performance data current to the most recent month end by calling 1-888-247-2841.

An investment in the Funds is subject to investment risks, including the possible loss of the principal amount invested. There can be no assurance that the Funds will be successful in meeting their objectives. The risks associated with the Funds, detailed in the Prospectus, include among other risks, the risks of investing in common stocks, exchange traded funds (ETFs) and fixed income securities. Overall stock market risks may affect the value of the Funds. These risks include the financial risk of selecting securities that do not perform as anticipated, the risk that the stock markets in which the Funds invests may experience periods of turbulence and instability, and the general risk that domestic and global economies may go through periods of decline and cyclical change. Investments in the stocks of small- and mid-capitalization companies carry additional risks. The earnings and prospects of these companies are generally more volatile than larger companies. Small-and mid-capitalization companies may experience higher failure rates (bankruptcy) than do larger companies. To the extent a Fund invests in ETFs, the Fund will indirectly bear its proportionate share of any expenses (such as operating expenses and advisory fees) that may be paid by the underlying funds. These expenses would be in addition to the advisory fee and other expenses that the Fund bears in connection with its own operations. Investment in an exchange traded fund (ETF) carries security specific risk and the market risk. The Funds may invest directly in or buy underlying funds that hold fixed income securities and foreign securities. Fixed income securities fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities. Foreign investments can involve significant risks in addition to the risks inherent in U.S. investments. These risks include adverse political, social and economic developments, differing auditing and legal standards, war, expropriation and nationalization.

Distributed by Arbor Court Capital, LLC - Member FINRA/SIPC. Check the background of Arbor Court Capital on FINRA's BrokerCheck.

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