Managed Municipal Income Fund

Fixed Income

NAV as of 10/24/25

$ Daily Nav $ Day Change Week High Week Low
Class I 13.36 0 13.36 13.34

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. For performance information current to the most recent month-end, please call Fund administrator's shareholder services toll-free at (855)733-3863. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. The Fund's total annual operating expense ratio for Class I is 2.31%.

Objective

The Redwood Managed Municipal Income Fund seeks to generate tax-efficient income, while focusing on managing downside risk. The Fund seeks to achieve this objective by using a quantitative strategy that looks to identify the critical turning points in the markets for high-yielding municipal fixed-income.

Highlights

  • Diversification opportunity through income and total-return in higher-yielding municipal securities demonstrating low historical correlation to higher-yielding corporate securities
  • Current Yields attractive on absolute basis making fund appropriate for retirement accounts, such as IRA’s
  • Utilizes a quantitative and tactical approach to risk management
  • Seeks to hold a diversified portfolio of primarily high-yield municipal bond exposure when various risk measurements are favorable, and municipal money market or short-term municipal bond exposure, when risk measures are unfavorable
  • A non-traditional approach to fixed-income exposure

Investors should carefully consider the investment objectives, risks, charges and expenses of the Redwood Managed Municipal Income Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 1-855-733-3863. The prospectus should be read carefully before investing. The Redwood Managed Municipal Income Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Redwood Investment Management, LLC is not affiliated with Northern Lights Distributors, LLC.

Risk Disclosure

For a full list of risks, please refer to the prospectus.

The following is additional information to the risk described above. The use of leverage by the Fund or an Underlying Fund, such as borrowing money to purchase securities or the use of derivatives, will indirectly cause the Fund to incur additional expenses and magnify the Fund's gains or losses. Derivative instruments involve risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments.

Investing involves risk, including loss of principal. There is no guarantee that any investment strategy will achieve its objectives, generate profits or avoid losses.

High-Yield Bonds: Portfolios that invest in lower-rated debt securities (commonly referred to as junk bonds) involve additional risks because of the lower credit quality of the securities in the portfolio. The investor should be aware of the possible higher level of volatility, and increased risk of default

Fixed income investments are affected by a number of risks, including fluctuation in interest rates, credit risk, and prepayment risk. In general, as prevailing interest rates rise, fixed income prices will fall.

Portfolio holdings, sector weights, and allocations are subject to change and should not be considered investment advice.

Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses or sales charges.

Municipal securities are subject to the risk that legislative changes and local and business developments may adversely affect the yield or value of the Fund's investments in such securities.

Definitions

Correlation: Correlation is a statistical measure that describes the degree to which two assets move in relation to each other, typically ranging from -1 (perfectly inverse) to +1 (perfectly aligned).

Fund Advisor

Redwood is an investment advisor to registered mutual funds, ETF, separately managed accounts, subadvisory accounts, unified managed accounts, and model portfolios. Redwood is an Investment Advisor registered with the SEC under the 1940 Advisor’s Act. Such registration with SEC does not imply certain level of skill or training and no inference to contrary should be made. To learn more about the Fund Advisor, click here.

Fund Facts

Ticker RWMIX
Category High-Yield Municipal
CUSIP 90213U123
Minimum Investment 10,000