Securities Act File No. 333-131820
ICA No. 811- 21853
As filed with the Securities and Exchange Commission on April
25
, 2013
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [ ]
Pre-Effective Amendment No. ____ [ ]
Post-Effective Amendment No. _
93
[X]
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 [ ]
Amendment No.
94
[X]
(Check Appropriate Box or Boxes)
Northern Lights Variable Trust
(Exact Name of Registrant as Specified in Charter)
17605 Wright Street
Omaha, NE 68130
Attention: Michael Miola
(Address of Principal Executive Offices)(Zip Code)
(631) 470-2600
(Registrant's Telephone Number, Including Area Code)
The Corporation Trust Company
Corporate Trust Center
1209 Orange Street
Wilmington, DE 19801
(Name and Address of Agent for Service)
With copies to:
JoAnn M. Strasser, Esq. Thompson Hine LLP 41 South High Street, Suite 1700 Columbus, Ohio 43215 614-469-3265 (phone) 513-241-4771 (fax) |
James P. Ash, Esq. Gemini Fund Services, LLC 80 Arkay Drive, Suite 110. Hauppauge, New York 11788 (631) 470-2619 (phone) (631) 813-2884 (fax) |
Approximate Date of Proposed Public Offering
It is proposed that this filing will become effective (check appropriate box):
(X)
immediately upon filing pursuant to paragraph (b).
( )
on (date) pursuant to paragraph (b).
( )
60 days after filing pursuant to paragraph (a)(1).
( )
on (date) pursuant to paragraph (a)(1).
( )
75 days after filing pursuant to paragraph (a)(2).
( )
on (date) pursuant to paragraph (a)(2) of Rule 485.
If appropriate check the following box:
( )
this post-effective amendment designates a new effective date for a previously filed post-effective amendment.
This filing relates solely to the
Probabilities VIT
Fund, a series of the Trust.
Signatures
Pursuant to the requirements of the Securities Act of 1933, as amended, and Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this registration statement under rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment No.
93
to the Registration Statement on Form N-1A to be signed on its behalf by the undersigned, duly authorized in the City of Hauppauge, State of New York on this
25th
day of April, 2013.
NORTHERN LIGHTS VARIABLE TRUST
(Registrant)
/s/ Andrew Rogers
By: Andrew Rogers,
President and Principal Executive Officer
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.
Michael Miola* | Trustee & Chairman | April
|
John V. Palancia* | Trustee | April
|
Gary Lanzen* | Trustee | April
|
Anthony Hertl* | Trustee | April
|
Mark Taylor* | Trustee | April
|
/s/ Andrew Rogers Andrew Rogers | President and Principal Executive Officer | April
|
Kevin Wolf* | Treasurer and Principal Accounting Officer | April
|
By: Date:
/s/ James Ash
April
25,
2013
James Ash
*Attorney-in-Fact-Pursuant to Powers of Attorney previously filed on April 7, 2011 to the Registrants Registration Statement in Post-Effective Amendment No. 32, and hereby incorporated by reference.
EXHIBIT INDEX
Index No. |
|
Description of Exhibit |
EX-101.INS |
|
XBRL Instance Document |
EX-101.SCH |
|
XBRL Taxonomy Extension Schema Document |
EX-101.CAL |
|
XBRL Taxonomy Extension Calculation Linkbase |
EX-101.DEF |
|
XBRL Taxonomy Extension Definition Linkbase |
EX-101.LAB |
|
XBRL Taxonomy Extension Labels Linkbase |
EX-101.PRE |
|
XBRL Taxonomy Extension Presentation Linkbase |
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Probabilities VIT Fund | ||||||||||||||||||||||||||||||
PROBABILITIES VIT FUND |
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Investment Objective: |
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The Probabilities VIT Fund (the Portfolio) seeks capital appreciation. |
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Fees and Expenses of the Portfolio: |
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This table describes the annual operating expenses that you may indirectly pay if you invest in the Portfolio through your retirement plan or if you allocate your insurance contract premiums or payments to the Portfolio. However, each insurance contract and separate account involves fees and expenses that are not described in this Prospectus. If the fees and expenses of your insurance contract or separate account were included in this table, your overall expenses would be higher. You should review the insurance contract prospectus for a complete description of fees and expenses. |
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Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
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Example: |
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This Example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds. |
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The Example assumes that you invest $10,000 in the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. However, each insurance contract and separate account involves fees and expenses that are not included in the Example. If these fees and expenses were included in the Example, your overall expenses would be higher. The Example also assumes that your investment has a 5% return each year and that the Portfolio's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: |
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|
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Portfolio Turnover: |
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The Portfolio pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the Example, affect the Portfolio's performance. |
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Principal Investment Strategies: |
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The Portfolio utilizes a fund of funds structure to invest primarily in exchange-traded funds (ETFs) that seek to track the performance of broad-based U.S. equity indices, principally the Standard & Poor's 500 (S&P 500) (Index ETFs). The Portfolio also invests in ETFs that employ leverage in an effort to deliver up to twice the performance of the S&P 500 (Leveraged ETFs). In addition, the Portfolio may hold cash, money market instruments, or other cash equivalents (collectively, Cash Instruments). The adviser uses an active trading strategy based on a proprietary rules-based trend-following methodology to determine the Portfolios allocation among Index ETFs, Leveraged ETFs, and Cash Instruments. The Portfolio typically invests in either ETFs or Cash Instruments depending on the advisers assessment of the market. When the adviser believes that conditions are favorable for investment in equities, the Portfolio will invest in ETFs. During periods that the adviser believes will offer the highest probability of capital appreciation, the Portfolio will invest primarily in Leveraged ETFs; otherwise, the Portfolio will invest primarily in Index ETFs. When the adviser believes that market conditions are unfavorable for equities, the Portfolio will invest in Cash Instruments. The Portfolios investment program will emphasize active management of the Portfolios investments, with an emphasis on capturing profits on short-term movements. This policy will result in the Portfolio taking frequent trading positions. Consequently, the Portfolios portfolio turnover and brokerage commission expenses may exceed those of most investment entities of comparable size. |
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Principal Investment Risks: |
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Remember that in addition to possibly not achieving your investment goals, you could lose money by investing in the Portfolio. The Portfolio is not intended to be a complete investment program. The principal risks of investing in the Portfolio are: ETFs Risk. ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Portfolio. As a result, your cost of investing in the Portfolio will be higher than the cost of investing directly in the ETFs and may be higher than other mutual funds that invest directly in stocks and bonds. Each ETF is subject to specific risks, depending on its investments. Leveraged ETFs employ leverage, which magnifies the changes in the value of the Leveraged ETFs, which could result in significant losses to the Portfolio. Limited History of Operations. The Portfolio is a new mutual fund and has a limited history of operations for investors to evaluate. Additionally, the Adviser has not previously managed a mutual fund. Management Risk. The adviser's judgments about the attractiveness, value and potential appreciation of particular security or derivative in which the Portfolio invests or sells short may prove to be incorrect and may not produce the desired results. Stock Market Risk. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions. Turnover Risk. A higher portfolio turnover may result in higher transactional and brokerage costs. |
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Performance: |
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Because the Portfolio has less than a full calendar year of investment operations, no performance information is presented for the Portfolio at this time. However, prior performance of the advisers similarly managed fund is presented under Management of the Portfolio below. In the future, Portfolio performance information will be presented in this section of the Prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.probabilitiesfund.com or by calling 1-855-224-7204. |
Label | Element | Value | ||||||
---|---|---|---|---|---|---|---|---|
Prospectus [Line Items] | rr_ProspectusLineItems | |||||||
Document Type | dei_DocumentType | 485BPOS | ||||||
Document Period End Date | dei_DocumentPeriodEndDate | Apr. 18, 2013 | ||||||
Registrant Name | dei_EntityRegistrantName | Northern Lights Variable Trust | ||||||
Central Index Key | dei_EntityCentralIndexKey | 0001352621 | ||||||
Amendment Flag | dei_AmendmentFlag | false | ||||||
Trading Symbol | dei_TradingSymbol | nlf | ||||||
Document Creation Date | dei_DocumentCreationDate | Apr. 18, 2013 | ||||||
Document Effective Date | dei_DocumentEffectiveDate | Apr. 18, 2013 | ||||||
Prospectus Date | rr_ProspectusDate | Apr. 15, 2013 | ||||||
Probabilities VIT Fund | Probabilities VIT Fund Class 1 Shares
|
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Prospectus [Line Items] | rr_ProspectusLineItems | |||||||
Management Fees (as a percentage of Assets) | rr_ManagementFeesOverAssets | 1.35% | ||||||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.35% | ||||||
Other Expenses (as a percentage of Assets): | rr_OtherExpensesOverAssets | 0.35% | [1] | |||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.35% | [1],[2] | |||||
Expenses (as a percentage of Assets) | rr_ExpensesOverAssets | 2.40% | [3] | |||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 243 | ||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 748 | ||||||
Probabilities VIT Fund | Probabilities VIT Fund Class 2 Shares
|
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Prospectus [Line Items] | rr_ProspectusLineItems | |||||||
Management Fees (as a percentage of Assets) | rr_ManagementFeesOverAssets | 1.35% | ||||||
Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.50% | ||||||
Other Expenses (as a percentage of Assets): | rr_OtherExpensesOverAssets | 0.35% | [1] | |||||
Acquired Fund Fees and Expenses | rr_AcquiredFundFeesAndExpensesOverAssets | 0.35% | [1],[2] | |||||
Expenses (as a percentage of Assets) | rr_ExpensesOverAssets | 2.55% | [3] | |||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 258 | ||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 793 | ||||||
Probabilities VIT Fund
|
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Prospectus [Line Items] | rr_ProspectusLineItems | |||||||
Risk/Return [Heading] | rr_RiskReturnHeading | PROBABILITIES VIT FUND |
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Objective [Heading] | rr_ObjectiveHeading | Investment Objective: |
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Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | The Probabilities VIT Fund (the Portfolio) seeks capital appreciation. |
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Expense [Heading] | rr_ExpenseHeading | Fees and Expenses of the Portfolio: |
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Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the annual operating expenses that you may indirectly pay if you invest in the Portfolio through your retirement plan or if you allocate your insurance contract premiums or payments to the Portfolio. However, each insurance contract and separate account involves fees and expenses that are not described in this Prospectus. If the fees and expenses of your insurance contract or separate account were included in this table, your overall expenses would be higher. You should review the insurance contract prospectus for a complete description of fees and expenses. |
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Operating Expenses Caption [Text] | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
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Fee Waiver or Reimbursement over Assets, Date of Termination | rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination | 2014-04-30 | ||||||
Portfolio Turnover [Heading] | rr_PortfolioTurnoverHeading | Portfolio Turnover: |
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Portfolio Turnover [Text Block] | rr_PortfolioTurnoverTextBlock | The Portfolio pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the Example, affect the Portfolio's performance. |
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Other Expenses, New Fund, Based on Estimates [Text] | rr_OtherExpensesNewFundBasedOnEstimates | Estimated for the current fiscal year. | ||||||
Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] | rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees | Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Portfolios financial highlights because the financial statements include only the direct operating expenses incurred by the Portfolio, not the indirect costs of investing in other investment companies. |
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Expense Example [Heading] | rr_ExpenseExampleHeading | Example: |
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Expense Example Narrative [Text Block] | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds. |
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Expense Example by, Year, Caption [Text] | rr_ExpenseExampleByYearCaption | The Example assumes that you invest $10,000 in the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. However, each insurance contract and separate account involves fees and expenses that are not included in the Example. If these fees and expenses were included in the Example, your overall expenses would be higher. The Example also assumes that your investment has a 5% return each year and that the Portfolio's operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: |
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Strategy [Heading] | rr_StrategyHeading | Principal Investment Strategies: |
||||||
Strategy Narrative [Text Block] | rr_StrategyNarrativeTextBlock | The Portfolio utilizes a fund of funds structure to invest primarily in exchange-traded funds (ETFs) that seek to track the performance of broad-based U.S. equity indices, principally the Standard & Poor's 500 (S&P 500) (Index ETFs). The Portfolio also invests in ETFs that employ leverage in an effort to deliver up to twice the performance of the S&P 500 (Leveraged ETFs). In addition, the Portfolio may hold cash, money market instruments, or other cash equivalents (collectively, Cash Instruments). The adviser uses an active trading strategy based on a proprietary rules-based trend-following methodology to determine the Portfolios allocation among Index ETFs, Leveraged ETFs, and Cash Instruments. The Portfolio typically invests in either ETFs or Cash Instruments depending on the advisers assessment of the market. When the adviser believes that conditions are favorable for investment in equities, the Portfolio will invest in ETFs. During periods that the adviser believes will offer the highest probability of capital appreciation, the Portfolio will invest primarily in Leveraged ETFs; otherwise, the Portfolio will invest primarily in Index ETFs. When the adviser believes that market conditions are unfavorable for equities, the Portfolio will invest in Cash Instruments. The Portfolios investment program will emphasize active management of the Portfolios investments, with an emphasis on capturing profits on short-term movements. This policy will result in the Portfolio taking frequent trading positions. Consequently, the Portfolios portfolio turnover and brokerage commission expenses may exceed those of most investment entities of comparable size. |
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Risk [Heading] | rr_RiskHeading | Principal Investment Risks: |
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Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | Remember that in addition to possibly not achieving your investment goals, you could lose money by investing in the Portfolio. The Portfolio is not intended to be a complete investment program. The principal risks of investing in the Portfolio are: ETFs Risk. ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Portfolio. As a result, your cost of investing in the Portfolio will be higher than the cost of investing directly in the ETFs and may be higher than other mutual funds that invest directly in stocks and bonds. Each ETF is subject to specific risks, depending on its investments. Leveraged ETFs employ leverage, which magnifies the changes in the value of the Leveraged ETFs, which could result in significant losses to the Portfolio. Limited History of Operations. The Portfolio is a new mutual fund and has a limited history of operations for investors to evaluate. Additionally, the Adviser has not previously managed a mutual fund. Management Risk. The adviser's judgments about the attractiveness, value and potential appreciation of particular security or derivative in which the Portfolio invests or sells short may prove to be incorrect and may not produce the desired results. Stock Market Risk. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions. Turnover Risk. A higher portfolio turnover may result in higher transactional and brokerage costs. |
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Risk Lose Money [Text] | rr_RiskLoseMoney | Remember that in addition to possibly not achieving your investment goals, you could lose money by investing in the Portfolio. | ||||||
Bar Chart and Performance Table [Heading] | rr_BarChartAndPerformanceTableHeading | Performance: |
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Performance Narrative [Text Block] | rr_PerformanceNarrativeTextBlock | Because the Portfolio has less than a full calendar year of investment operations, no performance information is presented for the Portfolio at this time. However, prior performance of the advisers similarly managed fund is presented under Management of the Portfolio below. In the future, Portfolio performance information will be presented in this section of the Prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.probabilitiesfund.com or by calling 1-855-224-7204. |
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Performance One Year or Less [Text] | rr_PerformanceOneYearOrLess | Because the Portfolio has less than a full calendar year of investment operations, no performance information is presented for the Portfolio at this time. | ||||||
Performance Availability Phone [Text] | rr_PerformanceAvailabilityPhone | 1-855-224-7204 | ||||||
Performance Availability Website Address [Text] | rr_PerformanceAvailabilityWebSiteAddress | www.probabilitiesfund.com | ||||||
|
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