Values Based

The Foxhall Global Trends Fund utilizes a “Values-Based” screening process that specifically seeks out companies that support traditional family values and positive global values such as respect for human life and dignity, responsible management, and environmental stewardship, while avoiding industries and activities that do not support human or traditional family values, and/or promote pornography, gambling, alcohol and tobacco production. Such analysis and screening will not apply to investments in ETFs. Foxhall utilizes IW Financial to provide Values Based investment screening services. The efforts of Foxhall Capital and IW Financial associated with Values Based Screening are on a best efforts basis and may not be 100% accurate in every instance.

The current screening parameters are listed below. The Foxhall Global Trends Fund may alter the screens from time to time but does not expect material changes in the screening characteristics.

Current Screens:

* Involvement with adult media; sexually explicit internet operations; adult software or video games; sexually explicit live performances.

* Alcohol — when manufacturing of alcohol revenue or wholesale revenue exceeds 10% of total revenue.

* Tobacco — when manufacturing of tobacco revenue or wholesale revenue from tobacco exceeds 10% of total revenue.

* Gambling revenue exceeds 10% of total revenue.

* Supports same-sex benefits; or has been added to the Citizen Action Now boycott list.

* Involvement with abortifacient manufacturing; non-emergency contraceptive manufacturing; abortion services; or has made corporate contributions to Planned Parenthood.

* Involvement in adult, umbilical or placenta stem cell research; embryonic stem cell or fetal tissue research; or stem cell research supplies or service.

The Fund may invest in Underlying Funds, including mutual funds, closed-end funds and ETFs. As a result the Fund will indirectly bear investment management fees of the underlying funds in addition to the investment management fees and expenses of the Fund. In some instances it may be less expensive for an investor to invest in the Underlying Funds directly. There is also a risk that investment advisers of those Underlying Funds may make investment decisions that are detrimental to the performance of the Fund. Investments in Underlying Funds that invest in foreign equity and debt securities could subject the Fund to greater risks including, currency fluctuation, economic conditions, and different governmental and accounting standards. The fund may also be subject to interest rate risk, values based screening risk, derivatives risk, and high turnover risk and may be better suited for more aggressive investors who are comfortable with frequent short-term changes in value.

The Foxhall Global Trends Fund is offered only to persons residing in the United States, and information on this Web site is intended only for such persons. Nothing on this Web site should be considered a solicitation to buy or an offer to sell shares of the Foxhall Global Trends Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. As with any investment in mutual funds investing in the Fund involves risks including the loss of principal.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Foxhall Global Trends Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by clicking here or by calling 866-270-1222. The prospectus should be read carefully before investing. The Foxhall Global Trends Fund is distributed by Northern Lights Distributors, LLC. Foxhall Capital Management, Inc. and Northern Lights Distributors, LLC are not affiliated entities.

Copyright 2012 Foundation Management Inc. All rights reserved.
1003-NLD-7/19/2010