President’s Letter

Dear Valued Shareholder,

We recognize this has been an extraordinarily difficult year for investors and, more than ever, we thank our current shareholders for their continued trust and confidence and appreciate the consideration of potential investors.

Very simply, last year was a lousy year when it came to the markets. No shock there; and unfortunately, our Funds were not immune to the market downturn. However, regardless of market cycles, we want you to know that our commitment – in addition to always seeking to provide maximum value for shareholders – is to ensure you have the information, resources, and support to not only understand but have confidence in your investments. Please take a moment to review our site for information on our funds, including; performance, holdings, strategies, and investment philosophy. If there are questions remaining, or you’re not able to find information in here, please contact us directly so that we have the opportunity to address your requests.

Markets like these certainly test investors and unfortunately, very few investors had a positive investment experience. No one can make guarantees, however it is my belief that, having already paid for risk, most investors should likely stay invested to potentially earn the return for when the markets eventually turn around. That being said, it is very important that investors periodically revisit and confirm their own risk-tolerance and investment objectives to ensure your investments are still consistent with such goals. 

Overcoming Fear
Fear is the result of uncertainty. At USA MUTUALS, we wish to remove as much uncertainty about your investments as possible. From quarterly manager commentary, to complete transparency of all Fund holdings on a quarterly basis, to 24/7 account access, we wish to ensure you have the tools necessary to have as much a complete understanding of the Funds, their strategies and positioning. Our Invest Your Knowledge philosophy encourages you to consider investing in our Funds, not because of past performance, a high rating, or even what an article may say, but because of your own knowledge, experience and/or insights into what may or may not be a sound investment. It is a combination of these qualitative and quantitative insights which make for a more confident investor.

At the end of the day, we recognize that you are seeking to increase the value of your investments, and let it be known: that too is our goal. But we also strive to exceed your expectations in terms of support, service and communication. If there are suggestions on ways to improve, or thoughts on new ways you would like to see fund companies support investors, please email me at elansky@USAMutuals.com.

We take our role as manager of your assets very seriously, and hope to have the opportunity to continue to earn your trust and confidence for many years to come.

Sincerely
Eric Lansky
President

Past performance is not a guarantee of future results.

Opinions expressed are those of Mutual Advisors and are subject to change, are not guaranteed, and should not be considered a recommendation to buy or sell any security.