S&P 500 TR — The S&P 500 Total Return has been widely regarded as the best gauge of the large-cap U.S. equities market since the index was first published in 1957. The index includes 500 leading companies in leading industries of the U.S. economy, capturing 75% coverage of U.S. equities.  Please visit www.standardandpoors.com/indices for further information.

Prospectus Disclosure:

Investors should carefully consider the investment objectives, risks, charges and expenses of the Ascendant Funds.  This and other important information about the Patriot Funds is contained in the prospectus, which can be obtained at www.ascendantfunds.com or by calling 855-527-2363. The prospectus should be read carefully before investing. The Ascendant Funds are distributed by Northern Lights Distributors, LLC, member FINRA.

Ascendant Advisors, LLC is not affiliated with Northern Lights Distributors, LLC.

Mutual Funds involve risk including the possible loss of principal.  There is no assurance that the fund will achieve its investment objectives.  The Patriot Fund’s adviser has limited experience managing a mutual fund.   Because the adviser screens out terror nations-related issuers, this will reduce the number of potential investments available to the Patriot Fund and the Patriot Fund may not perform as well as unrestricted funds.

“Quick Facts” Footnotes

1. Over 10% of the S&P 500 ($1.4 trillion of the market cap) is considered to be ‘terror-infected’ stocks.  [IW Financial; 12/31/11]

2. 8 out of the 10 sectors in the S&P 500 contain companies that operate in countries identified as State Sponsors of Terrorism [IW Financial; 12/31/11]

5. The number of companies operating in terror states as measured by both market cap and by number involved has been consistently growing since data started being collected in 2003 [IW Financial; 12/31/11]