CATALYST
ADVISOR GUIDE
2025
Catalyst Capital Advisors LLC | 36 North New York Avenue | Huntington, NY 11743
Shareholder Services: (866) 447.4228 | Advisor Services: (646) 827.2761
[Link]
20241218-4106122
2 Catalyst Funds
INTELLIGENT ALTERNATIVES
Catalyst Funds is a premier alternative asset manager. Since our founding in 2006, we understood that the market
did not need another traditional family of mutual funds. We strive to provide innovative strategies to support
financial advisors and their clients in meeting the challenges of an ever-changing global market environment.
Why Partner with Catalyst Funds?
What We Do:
Catalyst offers a broad range of distinct, “intelligent alternative” funds. Our specialized strategies seek to
address the needs of investors, including generating alpha, reducing volatility, limiting tail risk, mitigating
interest rate risk, and generating income.
Why Catalyst:
We believe that traditional buy-and-hold equity and income strategies do not adequately address investor
concerns in the current market environment. Our solutions are designed around characteristics that we
believe investors need to pursue in their portfolios, such as seeking alpha-focused, income-oriented, and
equity-oriented returns with lower correlation to the common indexes.
We offer these exclusive, specialized strategies through a team of in-house portfolio managers and
boutique investment management partners. Our seasoned investment professionals offer modern thinking,
looking beyond conventional wisdom to bring fresh ideas and innovative strategies to our clients. We strive
to be “ahead of the curve” in exploiting emerging areas of opportunity to assist our clients in achieving their
long-term investment goals.
LIFETIME AWARDS & RECOGNITION
2023 2018
2022
20241218-4106122
Advisor Guide 3
OUR LEADERSHIP
Mr. Szilagyi is President, Chief Executive Michael Schoonover is Chief Operating
Officer and Co-Founder of Catalyst Capital Officer of Catalyst Capital Advisors LLC,
Advisors LLC. He is an experienced financial Catalyst International Advisors LLC
professional having worked in various and Rational Advisors, Inc. He is an
management, consultant, and investment experienced financial professional having
banking positions in the asset management worked in various portfolio management,
industry since 1983. Mr. Szilagyi also operations management, and trust officer
serves in various executive roles for U.S. roles. He serves in various executive roles
registered investment advisers as well as for U.S. registered investment advisers
marketing and consulting companies in and marketing and consulting companies
the investment management industry. Mr. in the investment management industry.
Szilagyi has a Bachelor of Science degree He is President of Mutual Fund Series
in industrial & management engineering Trust, President of Mutual Fund & Variable
Jerry Szilagyi from Rensselaer Polytechnic Institute and Michael Schoonover Insurance Trust, and President of Strategy
President & CEO a Master of Business Administration degree Chief Operating Officer Shares. Mr. Schoonover has a Bachelor of
from New York University Stern School of Science degree in biochemistry from the
Business. He is President of Mutual Fund University of Michigan and a Master of
Series Trust, Mutual Fund and Variable Business Administration degree with high
Insurance Trust, and Strategy Shares Trust. distinction from the University of Michigan.
Mr. Miller is Co-Founder, Chief Investment Mr. Lai is the Chief Risk Officer for
Officer and Senior Portfolio Manager of Catalyst Capital Advisors LLC. Previously,
Catalyst Capital Advisors LLC and Rational Mr. Lai served as Senior Vice President at
Funds Inc. He received a Bachelor of Wedbush Securities, where he oversaw
Science degree in Economics from the risk management for the futures division.
University of Pennsylvania, Wharton School, From 2011 to 2015, he held other roles
and a Master of Business Administration at Wedbush within the proprietary
in Finance from the University of Michigan, trading and risk management divisions.
Ross School of Business. He received a Bachelor of Arts degree
in Economics from the University
of Chicago and carries a Chartered
Financial Analyst (CFA) designation.
David Miller Lawrence Lai
CIO & Sr. Portfolio Manager Chief Risk Officer
Mr. Glass is the Chief Compliance Officer Mr. Milder is the Head of National Sales
for Catalyst Capital Advisors LLC., and for Catalyst Capital Advisors LLC., and
a member of the Advisor’s Executive a member of the Advisor’s Executive
Committee. He provides compliance, Committee. He has been with the Advisor
operations and administrative services for since 2015 and is responsible for the
the Advisor and the Funds. Prior to joining oversight and management of the Catalyst
the Advisor in 2012, he was Vice President sales team, which consists of External and
of Global Client Services for Ivy Asset Internal Wholesalers. Mr. Milder is also
Management, LLC., from 2000 to 2010. President and Chief Executive Officer for
Prior experience also includes Deloitte Alt Fund Distributors, an affiliated broker
and Touche, LLP and Salomon Smith dealer and mutual fund marketing company.
Barney. Mr. Glass received a Bachelor of He received a Bachelor of Science degree
Science degree in Accounting from the City in Psychology and Bachelor of Arts degree
Robert Glass University of New York. Larry Milder in History from American International
Chief Compliance Officer Head of National Sales College, and a Master of Science in
Broadcast Journalism from Boston
University.
Mr. McNeal is the Head of Intermediary
Distribution for Catalyst Capital Advisors,
LLC., and a member of the Advisor’s
Executive Committee. He has been with
Catalyst since 2014, and is responsible for
the oversight and direction of all distribution
channels related to the Advisor and funds
therein. Prior to joining Catalyst, Mr. McNeal
worked as a consultant from 2009 to 2014,
collaborating primarily with institutional
clients both domestically and abroad. His
prior experience also includes working
within the Wealth Management division of
Robert McNeal Raymond James & Associates. Mr. McNeal
Head of Intermediary received a Bachelor of Science degree in
Distribution Finance from the University of North Florida.
20241218-4106122
4 Catalyst Funds
ALTERNATIVE/HEDGED STRATEGIES
Catalyst Buffered Shield Fund
Seeks long-term capital appreciation through a better approach to defined outcome investing, seeking to limit losses to
12.5% when the S&P 500 Index declines in value.
TICKER/CUSIP Class A: SHIEX / 62827P642, Class C: SHINX / 62827P634, Institutional: SHIIX / 62827P626
INV. SUB-ADVISOR Exceed Advisor y, LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst/Aspect Enhanced Multi-Asset Fund
Seeks long-term capital appreciation by combining a long-only, relatively passive U.S. 60/40 portfolio with a managed
futures-based trend following overlay to create a cash-efficient, diversified investment that aims to reduce portfolio drawdown.
TICKER/CUSIP Class A: CASAX / 62827Q889, Class C: CASCX / 62827Q871, Institutional: CASIX / 62827Q863
INVESTMENT ADVISOR Aspect Capital
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst Nasdaq-100 Hedged Equity Fund
Seeks long-term capital appreciation through an approach that complements NASDAQ-100 Index securities with a distinct
volatility hedge overlay.
TICKER/CUSIP Class A: CLPAX / 62827L187, Class C: CLPCX / 62827L179, Institutional: CLPFX / 62827M532
INV. SUB-ADVISOR Equit y Armor Invesetments, LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst Systematic Alpha Fund
Seeks long-term capital appreciation through a multi-risk premia strategy that attempts to capture various sources of
systematic risks embedded in the capital markets combined with an equity/long short strategy.
TICKER/CUSIP Class A: ATRAX / 62827M433, Class C: ATRCX / 62827M425, Institutional: ATRFX / 62827M417
INVESTMENT ADVISOR Catalyst Capital Advisors LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst/Millburn Dynamic Commodity Strategy Fund
The fund seeks long-term capital appreciation by providing long-term exposure to global commodity markets and U.S. and
international equity securities in sectors related to commodities.
TICKER/CUSIP Class A: DCXAX / 62827P808, Class C: DCXCX / 62827P881, Institutional: DCXIX / 62827P873
INV. SUB-ADVISOR Millburn Ridgefield Corporation
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst/Millburn Hedge Strategy Fund
Seeks long-term capital appreciation by utilizing complementary active and passive investment strategies, with the goal of
outperforming typical long-only equity investments, including reducing drawdowns during protracted periods of stress.
TICKER/CUSIP Class A: MBXAX / 62827P832, Class C: MBXCX / 62827P824, Institutional: MBXIX / 62827P816
INV. SUB-ADVISOR Millburn Ridgefield Corporation
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst/Warrington Strategic Program Fund
Seeks long-term capital appreciation by trading options on the S&P 500 Index Futures and targets a wide range of directional
profitability trades by buying near-the-money strikes and selling deep out-of-the-money strikes.
TICKER/CUSIP Class A: CWXAX / 62827P220, Class C: CWXCX / 62827P238, Institutional: CWXIX / 62827P246
INV. SUB-ADVISOR Warrington Asset Management LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst/Welton Advantage Multi-Strategy Fund
Seeks long-term capital appreciation by trading a multi-asset class portfolio that is generally composed of hundreds of
positions across large cap equities in the U.S. and global futures and options positions.
TICKER/CUSIP Class A: CWEAX / 62827P832, Class C: CWECX / 62827P824, Institutional: CWEIX / 62827P816
INV. SUB-ADVISOR Welton Investment Par tners LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
There is no assurance that any investment strategy will achieve its objectives, generate profits, or avoid losses.
20241218-4106122
Advisor Guide 5
EQUITY-ORIENTED STRATEGIES
Catalyst Dynamic Alpha Fund
Seeks long-term capital appreciation through an opportunistic, alpha-seeking investment approach utilizing a quantitative
methodology based on time-tested investing factors, including relative strength and momentum.
TICKER/CUSIP Class A: CPEAX / 62827L344, Class C: CPECX / 62827L336, Institutional: CPEIX / 62827M516
INV. SUB-ADVISOR Cookson, Peirce & Co., Inc. (CP)
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst Energy Infrastructure Fund
Seeks current income and capital appreciation by investing in publicly-listed equity securities of U.S. and Canadian
companies that generate a majority of their cash flow from midstream energy infrastructure activities, seeking to realize
long-term growth in dividends and distributions.
TICKER/CUSIP Class A: MLXAX / 62827M268, Class C: MLXCX / 62827M250, Institutional: MLXIX / 62827M243
INV. SUB-ADVISOR SL Advisors, LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Monthly*
Catalyst Insider Buying Fund
Seeks long-term capital appreciation by investing in large capitalization U.S. companies that are experiencing significant
insider buying.
TICKER/CUSIP Class A: INSAX / 62827L492, Class C: INSCX / 62827L484, Institutional: INSIX / 62827M573
INVESTMENT ADVISOR Catalyst Capital Advisors LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst/Lyons Tactical Allocation Fund
The Fund’s investment objective is to seek long-term capital appreciation.
TICKER/CUSIP Class A: CLTAX / 62827L211, Class C: CLTCX / 62827L195, Institutional: CLTIX / 62827M524
INV. SUB-ADVISOR Lyons Wealth Management
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
Catalyst/MAP Global Equity Fund
Seeks long-term capital appreciation by offering an alpha-driven, disciplined, value-oriented approach to equity investing
through a bottom-up process unconstrained by geography or market capitalization.
TICKER/CUSIP Class A: CAXAX / 62827L435, Class C: CAXCX / 62827L427, Institutional: CAXIX / 62827M540
INV. SUB-ADVISOR Managed Asset Por tfolios, LLC (MAP)
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Annual*
20241218-4106122
6 Catalyst Funds
INCOME-ORIENTED STRATEGIES
Catalyst Enhanced Income Strategy Fund
Seeks current income via investments in often overlooked segments of non-agency residential mortgage backed securities
(RMBS) and other fixed income asset-backed securities.
TICKER/CUSIP Class A: EIXAX / 62827P451, Class C: EIXCX / 62827P444, Institutional: EIXIX / 62827P436
INV. SUB-ADVISOR Wynkoop, LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Monthly*
Catalyst Insider Income Fund
Seeks current income by investing in short-term U.S. corporate bonds issued by corporations whose executives are
purchasing shares of the company’s common stock.
TICKER/CUSIP Class A: IIXAX / 62827M466, Class C: IIXCX / 62827M458, Institutional: IIXIX / 62827M441
INVESTMENT ADVISOR Catalyst Capital Advisors LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Monthly*
Catalyst/CIFC Senior Secured Income Fund
Seeks current income from adjustable rate securities.
TICKER/CUSIP Class A: CFRAX / 62827M300, Class C: CFRCX / 62827M805, Institutional: CFRIX / 62827M888
INV. SUB-ADVISOR CIFC Investment Management LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Monthly*
Catalyst/MAP Global Balanced Fund
Seeks total return consisting of current income and capital appreciation through an alpha-driven, value-oriented approach
to equity and fixed income investing unconstrained by geography or market capitalization.
TICKER/CUSIP Class A: TRXAX / 62827L450, Class C: TRXCX / 62827L443, Institutional: TRXIX / 62827M557
INV. SUB-ADVISOR Managed Asset Por tfolios, LLC (MAP)
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Quarterly*
Catalyst/SMH High Income Fund
Seeks income with capital appreciation as a secondary objective driven by a disciplined, bottom-up approach to investing
in high yield bonds.
TICKER/CUSIP Class A: HIIFX / 62827L609, Class C: HIICX / 62827L708, Institutional: HIIIX / 62827M847
INV. SUB-ADVISOR SMH Capital Advisors, LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Monthly*
Catalyst/SMH Total Return Income Fund
Seeks income and capital appreciation through a diversified portfolio of income producing securities.
TICKER/CUSIP Class A: TRIFX / 62827L807, Class C: TRICX / 62827L880, Institutional: TRIIX / 62827M839
INV. SUB-ADVISOR SMH Capital Advisors, LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Monthly*
Catalyst Strategic Income Opportunities Fund
Seeks total return by primarily investing in domestic asset-backed fixed income securities, which may provide investors with
low correlation to traditional asset classes.
TICKER/CUSIP Institutional: CSIOX / 148882103
INV. SUB-ADVISOR Perini Capital, LLC
ADDITIONAL INFO Minimum Investment: $2,500 Dividend Frequency: Monthly* CSIOX is a Closed-End Fund
*Dividend Payment Schedule: Annual pay net income and capital gains in December. Quarterly pay second to last business day of
each calendar quarter and pay capital gains in December. Monthly pay second to last business day each month and pay capital
gains in December. There is no assurance that dividends will be paid or that the Fund will achieve its investment objective.
20241218-4106122
Advisor Guide 7
Commissions and Disclosures
CLASS A COMMISION TABLE
Includes all funds except Catalyst Enhanced Income Strategy Fund, Catalyst Insider Income Fund,
Catalyst/CIFC Senior Secured Income Fund, and Catalyst/SMH High Income Fund:
Sales Charge Authorized Dealer
Amount of Purchase
as % of Public Offering Price Commission as % of Public Offering Price
LESS THAN $50,000 5.75% 5.00%
$50,000 BUT LESS THAN $100,000 4.75% 4.00%
$100,000 BUT LESS THAN $250,000 4.00% 3.25%
$250,000 BUT LESS THAN $500,000 3.00% 2.50%
$500,000 BUT LESS THAN $1,000,000 2.50% 2.00%
$1,000,000 AND ABOVE 1 0.00% 0.00%2
Includes Catalyst Enhanced Income Strategy Fund, Catalyst Insider Income Fund, Catalyst/CIFC Floating
Rate Income Fund, and Catalyst/SMH High Income Fund:
Sales Charge Authorized Dealer
Amount of Purchase
as % of Public Offering Price Commission as % of Public Offering Price
LESS THAN $50,000 4.75% 4.00%
$50,000 BUT LESS THAN $100,000 4.25% 3.50%
$100,000 BUT LESS THAN $250,000 3.75% 3.00%
$250,000 BUT LESS THAN $500,000 2.50% 2.00%
$500,000 BUT LESS THAN $1,000,000 2.00% 1.50%
$1,000,000 AND ABOVE 1 0.00% 0.00%2
1
In the case of investments at or above the $1 million breakpoint (where you do not pay an initial sales charge), a 1.00%
contingent deferred sales charge (“CDSC”) may be assessed on shares redeemed within two years of purchase. The CDSC
for these Class A shares is based on the NAV at the time of purchase. The holding period for the CDSC begins on the day you
buy your shares. Some intermediaries may waive the CDSC under certain circumstances.
2
The Fund’s Advisor may pay a commission out of its own resources to broker-dealers who initiate and are responsible for
the purchase of shares of $1 million or more in accordance with the following schedule: 1.00% for Class A shares purchases
of $1,000,000 to $4,999,999; 0.50% of Class A share purchases of $5,000,000 to $9,999,999; and 0.25% of Class A shares
purchases of $10,000,000 and over.
CLASS C COMMISSIONS
Class C Shares pay an annualized 1.00% 12b-1 trail fee starting in the first month after purchase. There is no up-
front or contingent deferred sales charge and no early redemption charges on Class C Shares.
20241218-4106122
8 Catalyst Funds
IMPORTANT DISCLOSURES
Alternative Investments are not suitable for all investors
Please read the prospectus carefully before investing.
An investor should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This
and other important information about the Catalyst Funds can be found in the Fund’s prospectus, which can be obtained by calling 1-866-
447-4228. The Catalyst Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Neither Catalyst Capital Advisors LLC
nor any of its Investment Management Partners are affiliated with Northern Lights Distributors, LLC.
Thomson Reuters Lipper Fund Award
The Thomson Reuters Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently
strong risk-adjusted performance relative to their peers. The Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating,
which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent
Return (Effective Return) value in each eligible classification wins the Lipper Fund Award. For more information, see [Link].
Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed
by Lipper. There is no assurance that the Fund will achieve its investment objective.
Lipper Fund Classification Award
The currency for the calculation corresponds to the currency of the country for which the awards are calculated and relies on monthly data.
Classification averages are calculated with all eligible share classes for each eligible classification. The calculation periods extend over 36, 60,
and 120 months. The highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determines the fund
classification winner over three, five, or 10 years. For a detailed explanation, please review the Lipper Leaders methodology document on www.
[Link].
The Top Performers Award
These are granted to the select few funds, which have outperformed their wider peer group in each category. Winners are determined purely
based on quantitative risk adjusted returns. For 2020 we have extended the time period under consideration to evaluate how managers
navigated both 2019 and the Covid-19 related market turbulence in early 2020. The 2020 Top Performer award winners were be chosen based
on absolute returns from January 1, 2019 to April 30, 2020. The Long-Term categories consider returns from January 2017 to April 2020.
BarclayHedge Award
The BarclayHedge Databases are used to determine the winners of the BarclayHedge awards. All winners are nominated based on quantitative
data provided by BarclayHedge for the various award categories. All data is collected and analyzed by BarclayHedge.
[Link] Award
The alternative mutual fund of the year is judged and given to the most successful liquid alternatives mutual fund as determined by a
combination of several elements, such as flows, performance, innovation, and fund objectives. Funds launched before 01/01/2024 were eligible
for entry.
Glossary of Terms: Alpha is a measure of the difference between a fund’s actual returns and its expected performance, given its level of risk
as measured by beta. Beta is a measure of a Fund’s sensitivity to market movements. Correlation is a measure of how investments move in
relation to one another.
[Link] info@[Link] 646.827.2761
36 N New York Avenue, Floor 3, Huntington, NY 11743
20241218-4106122