https://www.sec.gov/Archives/edgar/data/915802/000139834423004075/fp0082418-3_497.htm97 1 fp0082418-3_497.htm
FINANCIAL INVESTORS TRUST
Rondure New World Fund
Rondure Overseas Fund
(each, a “Fund”)
Supplement dated February 23, 2023 to the
Prospectus and Statement of Additional Information,
each dated August 31, 2022, as supplemented
The Board of Trustees (the “Board”) of Financial Investors Trust (the “Trust”), based upon the recommendation of Rondure Global Advisors, LLC, the investment adviser to the Funds, approved the proposed reorganization of each Fund into correspondingly named series of Northern Lights Fund Trust III (each, a “New Fund”), subject in each case to the approval of the shareholders of the relevant existing Fund (each, a “Reorganization”).
The Board also approved an Agreement and Plan of Reorganization and Termination (the “Plan”) that provides that each existing Fund will assign all of its assets to the corresponding New Fund, in exchange solely for (1) the number of the New Fund shares equivalent in value to shares of the relevant existing Fund outstanding immediately prior to the closing date of the Reorganization, and (2) the New Fund’s assumption of all of the relevant existing Fund’s liabilities, followed by a distribution of those shares to such existing Fund’s shareholders so that the existing Fund’s shareholders receive shares of the corresponding New Fund equivalent in value to the shares of the existing Fund held by such shareholder on the closing date of the Reorganization. Each Reorganization is intended to qualify as a tax-free reorganization for federal income tax purposes.
The Trust will hold a shareholder meeting on or about April 12, 2023, as may be adjourned, at which shareholders of each existing Fund as of February 22, 2023 will be asked to consider and vote on the Plan. If shareholders of each Fund approve the Reorganization with respect to that Fund, the Reorganizations are expected to take effect in or around June 2023.
Shareholders of each existing Fund will receive a combined prospectus/proxy statement with additional information about the shareholders meeting, the Reorganizations, and the New Funds. Please read these materials carefully, as they will contain a more detailed description of the Reorganizations.
Please retain this supplement with your Prospectus and
Statement of Additional Information.
New filing:
https://www.sec.gov/Archives/edgar/data/1537140/000158064223000969/rondure_485a.htm
Comments
Mark, Graust, & myself would like to know.
From TheShadow Reorganization at Rondure Global Advisors
Thank you, Derf
This isn't something we the investors should worry about. However, one irritating consequence of this is that in Edgar/EC searches, the trust/series name will work, but fund name/ticker won't. So, sometimes I have to look into fund prospectus or SIA to figure out if it is within some trust/series. This is more a fault of Edgar/SEC search.
Thanks Derf
But this sort of stuff grows unwieldly and unexpectedly over time - like weeds. And firms try to streamline things at some point.
You will be surprised to know how some of Vanguard funds are internally organized. https://www.sec.gov/Archives/edgar/data/102909/000110465922102217/tm2226327d3_4017f2.htm
So, you and I may think of Vanguard Star Fund/VGSTX differently than how the Edgar/SEC thinks of Vanguard Star Funds (s bolded intentionally). I guess that commonality among them is that they are all funds-of-funds. To emphasize my earlier point, ticker VGSTX produces zero results at Edgar/SEC but we know that the fund exists. Vanguard TDFs (somewhat different kind of funds-of-funds with glide-paths) belong to something called VG Chester Funds - who could guess that name?
Vanguard STAR Funds:
Vanguard LifeStrategy Conservative Growth Fund
Vanguard LifeStrategy Growth Fund
Vanguard LifeStrategy Income Fund
Vanguard LifeStrategy Moderate Growth Fund
Vanguard STAR Fund
Fidelity funds are also organized as several trusts/series and some of their names are just related to the Fido location in the Boston area.
A more focused question would be: what does reorganizing mutual funds from one trust into a different trust accomplish? Check for changes (infrequent) in fees, waivers, clawbacks, management firms. Also shareholder voting rights (see below).
Rondure Global Advisors has been using a trust (Financial Investors Trust) and will be moving to Northern Lights Trust III. They are both Delaware statutory trusts, so the laws governing them are the same (Delaware).
But because they are different trusts, they have different trustees (those are the fiduciaries you vote for to represent your interests in the funds). Also, since the size of the two trusts are almost surely different, a shareholder vote will have more (or less) weight than before.
Yogi wrote that large fund firms use trusts (aggregating their funds) for efficiency. Boutiques do the same, except that instead of aggregating their funds together in a trust they run, they join together with other boutiques in a trust they don't run. So you find funds from multiple families in a single trust.
Here's a list of some of the funds in Financial Investors Trust. I've underlined some funds/families that have appeared in posts here:
JCRAX - FINANCIAL INVESTORS TRUST - ALPS/CoreCommodity Management CompleteCommodities Strategy Fund Investor Shares
INDAX - FINANCIAL INVESTORS TRUST - ALPS/Kotak India Growth Fund Investor Shares
LPEFX - FINANCIAL INVESTORS TRUST - ALPS/Red Rocks Listed Private Equity Fund Investor Shares
ALIBX - FINANCIAL INVESTORS TRUST - ALPS | Smith Balanced Opportunity Fund Investor Class
SMCVX - FINANCIAL INVESTORS TRUST - ALPS | Smith Credit Opportunities Fund Investor Class
FINANCIAL INVESTORS TRUST - ALPS/Smith Short Duration Bond Fund Class A
FINANCIAL INVESTORS TRUST - ALPS/Smith Total Return Bond Fund Class A
AMWYX - FINANCIAL INVESTORS TRUST - ALPS/WMC Research Value Fund Investor Shares
CHNAX - FINANCIAL INVESTORS TRUST - Clough China Fund Investor Shares
HSSAX - FINANCIAL INVESTORS TRUST - Emerald Banking and Finance Fund Class A
HSPGX - FINANCIAL INVESTORS TRUST - Emerald Growth Fund Class A
EFCAX - FINANCIAL INVESTORS TRUST - Emerald Insights Fund Class A
ESTAX - FINANCIAL INVESTORS TRUST - Emerald Select trueLiberty Income Fund Class A
ELASX - FINANCIAL INVESTORS TRUST - Emerald Small Cap Value Fund Class A
GPEOX - FINANCIAL INVESTORS TRUST - Grandeur Peak Emerging Markets Opportunities Fund Investor Class
FINANCIAL INVESTORS TRUST - Grandeur Peak Global Contrarian Fund Institutional Class
FINANCIAL INVESTORS TRUST - Grandeur Peak Global Explorer Fund Institutional Class
GPMCX - FINANCIAL INVESTORS TRUST - Grandeur Peak Global Micro Cap Fund Institutional Class
GPGOX - FINANCIAL INVESTORS TRUST - Grandeur Peak Global Opportunities Fund Investor Class
GPROX - FINANCIAL INVESTORS TRUST - Grandeur Peak Global Reach Fund Investor Class
GGSOX - FINANCIAL INVESTORS TRUST - Grandeur Peak Global Stalwarts Fund Investor Class
GPIOX - FINANCIAL INVESTORS TRUST - Grandeur Peak International Opportunities Fund Investor Class
GISOX - FINANCIAL INVESTORS TRUST - Grandeur Peak International Stalwarts Fund Investor Class
FINANCIAL INVESTORS TRUST - Grandeur Peak US Stalwarts Fund Institutional Class
RMRGX - FINANCIAL INVESTORS TRUST - Highland Resolute Fund Class I
RLTAX - FINANCIAL INVESTORS TRUST - RiverFront Asset Allocation Aggressive Investor Shares
RLGAX - FINANCIAL INVESTORS TRUST - RiverFront Asset Allocation Growth & Income Investor Shares
RMIAX - FINANCIAL INVESTORS TRUST - RiverFront Asset Allocation Moderate Investor Shares
RNWOX - FINANCIAL INVESTORS TRUST - RONDURE NEW WORLD FUND Investor Class
ROSOX - FINANCIAL INVESTORS TRUST - RONDURE OVERSEAS FUND Investor Class
SFGIX - FINANCIAL INVESTORS TRUST - Seafarer Overseas Growth and Income Fund Investor
SFVLX - FINANCIAL INVESTORS TRUST - Seafarer Overseas Value Fund Investor Class
DGIFX - FINANCIAL INVESTORS TRUST - The Disciplined Growth Investors Fund
VVPLX - FINANCIAL INVESTORS TRUST - Vulcan Value Partners Fund Investor Class Shares
VVPSX - FINANCIAL INVESTORS TRUST - Vulcan Value Partners Small Cap Fund Investor Class Shares
Source: https://fintel.io/ff/915802
Here are some of the funds/families in the new trust, Northern Lights Trust III. Nothing pops out at me:
AAMAX - NORTHERN LIGHTS FUND TRUST III - Absolute Capital Asset Allocator Fund Class A Shares
ACMAX - NORTHERN LIGHTS FUND TRUST III - Absolute Capital Defender Fund Class A Shares
ADOAX - NORTHERN LIGHTS FUND TRUST III - ACM Dynamic Opportunity Fund Class A Shares
TINIX - NORTHERN LIGHTS FUND TRUST III - ACM Tactical Income Fund Class I
BWDAX - NORTHERN LIGHTS FUND TRUST III - Boyd Watterson Limited Duration Enhanced Income Fund Class A Shares
CINTX - NORTHERN LIGHTS FUND TRUST III - Centerstone International Fund Class I
CENTX - NORTHERN LIGHTS FUND TRUST III - Centerstone Investors Fund Class I
CPQAX - NORTHERN LIGHTS FUND TRUST III - Counterpoint Long-Short Equity Fund Class A Shares
CPAEX - NORTHERN LIGHTS FUND TRUST III - Counterpoint Tactical Equity Fund Class A Shares
CPATX - NORTHERN LIGHTS FUND TRUST III - Counterpoint Tactical Income Fund Class A Shares
TMNAX - NORTHERN LIGHTS FUND TRUST III - Counterpoint Tactical Municipal Fund Class A
HYTR - NORTHERN LIGHTS FUND TRUST III - CP High Yield Trend ETF
FPAG - NORTHERN LIGHTS FUND TRUST III - FPA Global Equity ETF
GHSIX - NORTHERN LIGHTS FUND TRUST III - Good Harbor Tactical Select Fund Class I Shares
QQH - NORTHERN LIGHTS FUND TRUST III - HCM Defender 100 Index ETF
LGH - NORTHERN LIGHTS FUND TRUST III - HCM Defender 500 Index ETF
HCMNX - NORTHERN LIGHTS FUND TRUST III - HCM Dividend Sector Plus Fund Class A Shares
HCMFX - NORTHERN LIGHTS FUND TRUST III - HCM Dynamic Income Fund Investor Class Shares
HCMEX - NORTHERN LIGHTS FUND TRUST III - HCM Income Plus Fund Class A Shares
HCMGX - NORTHERN LIGHTS FUND TRUST III - HCM Tactical Growth Fund Class A Shares
LIONX - NORTHERN LIGHTS FUND TRUST III - Issachar Fund Class N Shares
GHTAX - NORTHERN LIGHTS FUND TRUST III - Leland Real Asset Opportunities Fund Class A Shares
LDPAX - NORTHERN LIGHTS FUND TRUST III - Leland Thomson Reuters Private Equity Buyout Index Fund Class A
LDVAX - NORTHERN LIGHTS FUND TRUST III - Leland Thomson Reuters Venture Capital Index Fund Class A Shares
MVPFX - NORTHERN LIGHTS FUND TRUST III - Marathon Value Portfolio
NFMAX - NORTHERN LIGHTS FUND TRUST III - Newfound Multi-Asset Income Fund Class A
NFGAX - NORTHERN LIGHTS FUND TRUST III - Newfound Risk Managed Global Sectors Fund Class A Shares
NFDIX - NORTHERN LIGHTS FUND TRUST III - Newfound Risk Managed U.S. Growth Fund Class I Shares
NFDAX - NORTHERN LIGHTS FUND TRUST III - Newfound Risk Managed U.S. Sectors Fund Class A Shares
LSEIX - NORTHERN LIGHTS FUND TRUST III - Persimmon Long/Short Fund Class I Shares
APSHX - NORTHERN LIGHTS FUND TRUST III - Pinnacle Sherman Multi-Strategy Core Fund Class A
IPTRX - NORTHERN LIGHTS FUND TRUST III - Pinnacle TrendRating Innovative Equity Fund Class I
RQEAX - NORTHERN LIGHTS FUND TRUST III - RESQ Dynamic Allocation Fund RESQ Dynamic Allocation Class A Shares
RQIAX - NORTHERN LIGHTS FUND TRUST III - RESQ Strategic Income Fund Class A Shares
SDFAX - NORTHERN LIGHTS FUND TRUST III - Swan Defined Risk Emerging Markets Fund Class A Shares
SDJAX - NORTHERN LIGHTS FUND TRUST III - Swan Defined Risk Foreign Developed Fund Class A Shares
SDRAX - NORTHERN LIGHTS FUND TRUST III - Swan Defined Risk Fund Class A Shares
SDAAX - NORTHERN LIGHTS FUND TRUST III - Swan Defined Risk Growth Fund Class A Shares
SDAYX - NORTHERN LIGHTS FUND TRUST III - Swan Defined Risk Growth Fund Class Y Shares
SDCAX - NORTHERN LIGHTS FUND TRUST III - Swan Defined Risk U.S. Small Cap Fund Class A Shares
TCBAX - NORTHERN LIGHTS FUND TRUST III - The Covered Bridge Fund Class A Shares
TEBRX - NORTHERN LIGHTS FUND TRUST III - The Teberg Fund
Source: https://fintel.io/ff/1537140
April 13, 2023
Dear Fellow Shareholders,
You recently received a supplement to the prospectus of the Rondure Global Funds dated February 23, 2023, with information about an upcoming shareholder meeting. The purpose of the meeting, as outlined in the supplement, is a shareholder vote about a proposal to reorganize the funds from their existing trust (Financial Investors Trust or FIT) into a new trust in order to move the funds' back-office service provider from SS&C (formerly ALPS) to Ultimus Fund Solutions. The reorganizations are expected to be tax-free for federal income tax purposes. There will be no impact on the ownership of Rondure Global Advisors, or on our team or investment process.
Some of you have been asking about the shareholder meeting date, which was originally set for April 12. Due to unforeseen delays in the filing process, the mailing of meeting materials was postponed. As a result, the shareholder meeting date has been rescheduled to May 31, 2023. You will soon receive a new prospectus supplement announcing the new date.
You or your designee will also be receiving in the coming weeks a proxy statement and other materials with information about the reorganization, including voting instructions.
If you have additional questions after you receive the mailing, please feel free to contact me directly.
Thank you for your help,
Sunshine Stein
https://www.sec.gov/Archives/edgar/data/915802/000139834423012096/fp0083914-2_497.htm
FINANCIAL INVESTORS TRUST
Rondure New World Fund
Rondure Overseas Fund
(each, a “Fund”)
Supplement dated June 16, 2023
To the Summary Prospectus, Prospectus and Statement of Additional Information,
each dated August 31, 2022, as supplemented
On June 14, 2023, the shareholders of each Fund approved an Agreement and Plan of Reorganization and Termination pursuant to which each Fund will be reorganized into correspondingly named series of Northern Lights Fund Trust III (each, a “Reorganization”). Each Reorganization is expected to close after the close of business on or about July 21, 2023.
*********
Please retain this supplement with your Summary Prospectus, Prospectus and Statement of Additional Information.
I got a mail asking me to call to vote. I called and went with their proposal.
https://www.sec.gov/Archives/edgar/data/915802/000139834423013179/fp0084407-1_497.htm
497 1 fp0084407-1_497.htm
FINANCIAL INVESTORS TRUST
Rondure New World Fund
Rondure Overseas Fund
(each, a “Fund”)
Supplement dated July 17, 2023
To the Summary Prospectus, Prospectus and Statement of Additional Information,
each dated August 31, 2022, as supplemented
The Funds’ Reorganization date, as previously announced in the Supplement dated June 16, 2023 to the Funds’ Summary Prospectus, Prospectus and SAI, has been extended to on or about October 6, 2023.
For additional information regarding the Funds’ Reorganization, see the Supplement dated June 16, 2023 to the Funds’ Summary Prospectus, Prospectus and SAI.
*********
Please retain this supplement with your Summary Prospectus, Prospectus and Statement of
Additional Information.