Dear Shareholders,

As new investors in the Eventide Limited-Term Bond Fund, we want to welcome you to Eventide Funds! We also want to take a moment to introduce Eventide and to share how this change from Epiphany to Eventide impacts you going forward.

Our vision of “investing that makes the world rejoice” is focused on investing in companies that create compelling value for the global common good.

Eventide Asset Management, LLC, located in Boston, was founded in 2008 with a vision to provide high-performance values-based investments to individuals, financial advisors, and institutions. Our vision of “investing that makes the world rejoice” is focused on investing in companies that create compelling value for the global common good. We do this by seeking to avoid companies that cause harm, while seeking to invest in companies that create blessing for the world. We believe companies that excel at creating value for others will also prosper financially, allowing investors to invest for the future in ways that harmonize with their deeply held values and commitments. This investment framework, which we refer to as Business 360, is the foundation on which all of the Eventide Funds are managed.

The Eventide Limited-Term Bond Fund will be overseen by Eventide Portfolio Manager Martin Wildy, CFA, who currently manages two other income-focused Funds for Eventide. Mr. Wildy has over 17 years of direct investment experience in values-based asset management. Eventide is retaining Dana Investment Advisors, Inc. and Trinity Fiduciary Partners, LLC as sub-advisers to the Fund to help ensure continuity of process. Given the shared values of Eventide and Epiphany, and the continuation of portfolio management through Dana and Trinity, we anticipate that this transition will be smooth for current shareholders.

We are excited and honored to welcome you as shareholders in the Eventide Limited-Term Bond Fund. A list of frequently asked questions were compiled in the N-14 filing, prior to the reorganization. If you have any other questions surrounding this transition, please reach out to your Financial Advisor or Eventide directly at or 877-771-3836.

As we approach year-end 2018, we wish you and your families a Merry Christmas and a very healthy and prosperous 2019.


Robin John signature
Martin Wildy, CFA Finny Kuruvilla, MD, PhD Robin John
Portfolio Manager Chief Investment Officer Chief Executive Officer


There is no guarantee that the Adviser's approach will produce the desired results. Eventide’s Business 360 approach indicates a general framework of guiding principles that inform Eventide’s overall research process.

Mutual Funds involve risk including the possible loss of principal. Past performance does not guarantee future results. The Funds’ ethical values screening criteria could cause it to under-perform similar funds that do not have such screening criteria. The Fund can have risk related to option investing. There are special risks associated with investments in foreign companies including exposure to currency fluctuations, less efficient trading markets, political instability, and differing auditing and legal standards.

Investors in the Fund should be aware that interest rates may change at any time based on government policy. In general, the price of a fixed income security falls when interest rates rise. A rise in interest rates may result in volatility and increased redemptions, which in turn could result in the fund being forced to liquidate portfolio securities at disadvantageous prices. Longer-term securities may be more sensitive to changes in interest rates. The Fund’s weighted average effective portfolio duration may not exceed five years.The Fund may invest in other funds. If other funds are utilized, such underlying funds are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund will be higher than the cost of investing directly in underlying funds and may be higher than other mutual funds that do not invest in underlying funds. The Fund may invest in ETFs and inverse ETFs for hedging purposes. Inverse or “short” ETFs seek to deliver returns that are opposite of the return of a benchmark. The Fund may invest, directly or indirectly, in “junk bonds.” Such securities are speculative investments that carry greater risks than higher quality debt securities. There are unique risks associated with REITs, preferred stocks, and convertible bonds that are covered in the Fund's prospectus and SAI.

An investor should consider a fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information can be found in the prospectus, which can be obtained at or by calling 1-877-771-EVEN (3836). Please read the prospectus carefully before investing. Eventide Mutual Funds are distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC, which is not affiliated with Eventide Asset Management, LLC.