Catalyst Dynamic Alpha Fund (CPEAX) Receives Five-Star Rating from Morningstar

Fund Finishes in Top One Percent of Morningstar Large Growth Category for 2014

Huntington, New York, February 25, 2015 – Catalyst Funds, an alternative-focused mutual fund company, today announced that the Catalyst Dynamic Alpha Fund (CPEAX) received a five-star¹ rating from Morningstar. Since inception, the Fund has generated a 23.11% return and, in 2014, outperformed the S&P 500 TR Index by over 800 bps. The fund is in the top one percent² of the Morningstar Large Growth category for the one and three year periods.

“The Catalyst Dynamic Alpha Fund has been very successful at identifying winning investments and cutting underperformers. We are thrilled that the Fund’s performance has been recognized by Morningstar with a five-star rating,” said Jerry Szilagyi, CEO of Catalyst Funds. “The Fund offers a distinct, long-only strategy with a time-tested quantitative approach that we are proud to offer to investors in a mutual fund form.”

CPEAX’s strategy is rooted in an alpha-driven, quantitative and disciplined investment process. The Fund systematically analyzes equities across all sectors and market capitalizations, using a time-tested methodology that has been implemented for over 30 years. Price momentum, sector rotation and relative strength measures form the basis of security analysis. The Fund eliminates artificial market segmentations to concentrate on sectors, trends and exposures exhibiting characteristics of emerging growth. Stock and sector strength are ranked and monitored in an attempt to ensure the Fund is positioned in holdings showing the strongest characteristics. This flexibility potentially allows the Fund to avoid underperforming areas of the market, such as financials in 2008, for example. Defined buy and sell triggers are utilized in an attempt to let winning stocks run while quickly eliminating underperformers. In fact, the Fund’s sell discipline has been a strong contributor to outperformance.

For more information on CPEAX and Catalyst Funds, please visit: www.catalystmf.com.

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¹ CPEAX was rated five stars by Morningstar for the three year period ending 01/31/2015 out of 1,538 funds in the Morningstar Large Growth category for risk adjusted returns.

 ² Performance ranking is based on total return performance for the one and three year periods ending 01/31/2015 out of 1,706 funds and 1,538 funds, respectively, in the Morningstar Large Growth category.

About Catalyst Funds

Catalyst Funds currently offers 25 distinctive funds that provide various strategies with the goal of producing income- and equity-oriented returns while seeking to control risk and volatility. Catalyst offers these exclusive strategies through a team of in-house portfolio managers and boutique institutional investment management partners. The firm strives to provide innovative strategies to support financial advisors and their clients in meeting the investment challenges of an ever changing global market environment.

Standard Performance: Annualized Return Performance as of December 31, 2014

Share Class	1 Year	2 Years	3 Years	Since Inception*
Class A	21.93%	29.18%	23.40%	23.11%
Class C	20.95%	28.18%	22.46%	22.18%
S&P 500 TR Index	13.69%	22.68%	20.41%	20.36%
Class A with Sales Charge	14.92%	25.44%	20.99%	20.73%

* Inception: 12/22/2011

The Fund’s maximum sales charge for Class “A” shares is 5.75%. Investments in mutual funds involve risks. Performance is historic and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain the most recent month end performance information or the fund’s prospectus please call the fund, toll free at 1-866-447-4228. You can also obtain a prospectus at www.catalystmf.com. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses to maintain the Fund’s total annual operating expense ratio at 1.10% excluding 12b-1 fees through October 31, 2015. Gross expense ratios for the fiscal year ended 06/30/14 were 1.56%, 2.31% and 1.51% for Class A, C and I shares, respectively.

There is no assurance that any Fund will achieve its investment objective.

Please consider the Fund’s investment objectives, risks, and charges carefully before investing. This and other important information about the Catalyst Funds can be found in the Fund’s current prospectus, which may be obtained by calling your Financial Advisor or shareholder services at 866-447-4228. Please read the prospectus carefully before investing. The Catalyst Funds are distributed by Northern Lights Distributors, LLC, member FINRA.

Investing in the Fund carries certain risks. The value of the Fund may decrease in response to the activities and financial prospects of an individual security in the Fund’s portfolio. The Fund is non-diversified and may invest a greater percentage of its assets in a particular issue and may own fewer securities than other mutual funds. The performance of the Fund may be subject to substantial short-term changes. If a security sold short increases in price, the Fund may have to cover its short position at a higher price than the short sale price, resulting in a loss. There may be risks associated with the sale and purchase of call and put options. The Fund may invest, directly or indirectly, in “junk bonds.”  Such securities are speculative investments that carry greater risks than higher quality debt securities. These factors may affect the value of your investment. To obtain the most recent month-end performance data or the Fund’s current prospectus, please call the fund at (866)447-4228.

Morningstar is an independent provider of financial information. Morningstar performance rankings are based on total return without sales charge relative to all share classes of mutual funds with similar objectives and determined by Morningstar. 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, and next 22.5% receive 2 stars and the bottom 10% receive 1 star. Past performance or ranking is not indicative of future results. Morningstar Inc. All rights reserved.

 S&P 500 TR Index is considered to be generally representative of the U.S. large capitalization stock market as a whole.

 Alpha is a measure of the difference between a fund’s actual returns and expected performance given its level of risk.

 4127-NLD-2/24/2015