Sierra Strategic Income Fund launches, available for purchase

By Toni Weeks

San Diego, Dec. 21 - Northern Lights Fund Trust announced the launch of a new fund that has dual investment objectives of providing total return and limiting volatility and downside risk, according to an N-1A filing with the Securities and Exchange Commission.

To reach its objectives, the Sierra Strategic Income Fund will invest in open-end investment companies, exchange-traded funds and exchange-traded notes. The adviser will primarily select underlying funds that invest in a wide variety of fixed-income instruments of any maturity, including domestic and foreign bonds, some of which are hedged against currency risk, funds designed to have returns that are inverse to the 10-year U.S. Treasury note or 30-year U.S. Treasury bond, real estate investment trusts and other income-generating assets. There are no restrictions for issuer credit quality, capitalization, country or maturity.

The minimum initial investment in class A, class C and class I shares is $10,000, with minimum subsequent investments of $1,000. The minimum initial investment in class R and class Y is $100,000 and $20 million, respectively. Neither have subsequent minimum investment requirements.

The portfolio managers will be Kenneth L. Sleeper, Frank Barbera and David C. Wright.

Only class A shares will incur a sales charge, which is 5.75%. The management fees have been set at 0.75% for each share class. Total annual fund operating expenses are expected to be 1.71% for class A and class I shares, 2.31% for class C shares, 1.41% for class R shares and 1.4% for class Y shares.

The fund's investment adviser will be Santa Monica, Calif.-based Wright Fund Management, LLC.

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