The performance data quoted represents past performance. Past performance does not represent future results and current performance may be higher or lower than performance data quoted. Investors should maintain realistic expectations for future performance. The investment return and principal value of an investment will fluctuate so that an investor's share, when redeemed, may be worth more or less than their original cost. You can obtain performance data current to the most recent month-end by calling (888) 848-7569.

The Fund's Total Annual Fund Operating Expenses as disclosed in the prospectus is 2.39%. The Adviser has contractually agreed to defer the collection of fees and/or reimburse expenses, but only to the extent necessary to limit Total Annual Fund Operating Expenses (excluding brokerage fees and commissions; borrowing costs, such as (a) interest and (b) dividends on securities sold short; taxes; indirect expenses incurred by the Underlying Funds in which the Fund invests; and extraordinary expenses) to 1.60% of the average daily net assets of the Fund through January 31, 2013. The annualized net expense ratio in the annual report dated September 30, 2011 is 1.45%.

Total return measures net investment income and capital gain or loss from portfolio investments. All performance shown assumes reinvestment of dividends and capital gains distributions.

©2012 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. The RiverNorth Core Opportunity Fund (RNCOX) was rated number 1 against 736 U.S.-domiciled Moderate Allocation funds in the last five years, number 5 against 843 U.S. domiciled Moderate Allocation funds in the last three years, and number 736 against 963 U.S. domiciled Moderate Allocation funds in the last 1 year. With respect to these Moderate Allocation funds, the RiverNorth Core Opportunity Fund (RNCOX) received a Morningstar Rating of 5 stars for the three and five year period and an Overall Morningstar rating of 5 stars as of December 31, 2011. Past performance is no guarantee of future results.