0000910472-13-000566.txt : 20130222 0000910472-13-000566.hdr.sgml : 20130222 20130222083649 ACCESSION NUMBER: 0000910472-13-000566 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130222 DATE AS OF CHANGE: 20130222 EFFECTIVENESS DATE: 20130222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Arrow Investments Trust CENTRAL INDEX KEY: 0001527428 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-178164 FILM NUMBER: 13632368 BUSINESS ADDRESS: STREET 1: 2943 OLNEY-SANDY SPRING ROAD, SUITE A CITY: OLNEY STATE: MD ZIP: 20832 BUSINESS PHONE: 301-260-0162 MAIL ADDRESS: STREET 1: 2943 OLNEY-SANDY SPRING ROAD, SUITE A CITY: OLNEY STATE: MD ZIP: 20832 0001527428 S000035950 ARROW MANAGED FUTURES STRATEGY FUND C000110182 ARROW MANAGED FUTURES STRATEGY FUND CLASS A SHARES MFTFX C000110183 ARROW MANAGED FUTURES STRATEGY FUND CLASS C SHARES MFTTX C000110184 ARROW MANAGED FUTURES STRATEGY FUND INSTITUTIONAL CLASS SHARES MFTNX 497 1 xbrl497arrow.htm 497 GemCom, LLC

Arrow Investments Trust

Arrow Managed Futures Strategy Fund


Incorporated herein by reference is the definitive version of the prospectus for Arrow Managed Futures Strategy Fund filed pursuant to Rule 497 (e) under the Securities Act of 1933, as amended, on January 31, 2013 (SEC Accession No. 0000910472-13-000334).




EX-101.INS 2 ait-20130131.xml 0001527428 2013-01-31 2013-01-31 0001527428 ait:S000035950Member 2013-01-31 2013-01-31 0001527428 ait:S000035950Member ait:C000110182Member 2013-01-31 2013-01-31 0001527428 ait:S000035950Member ait:C000110183Member 2013-01-31 2013-01-31 0001527428 ait:S000035950Member ait:C000110184Member 2013-01-31 2013-01-31 iso4217:USD Other 2011-12-31 Arrow Investments Trust 0001527428 false ait MFTFX MFTTX MFTNX 2013-01-31 2013-01-31 2012-12-01 <p style="text-align: left"><b>ARROW MANAGED FUTURES STRATEGY FUND</b></p> <p style="margin: 0px"><br /></p> <p style="margin-top: 6.66px; margin-bottom: 6.66px; font: 12pt Arial,Times New Roman; text-align: center"><b>ARROW MANAGED FUTURES STRATEGY FUND</b></p> <p style="margin-top: 6.66px; margin-bottom: 6.66px; font: 12pt Arial,Times New Roman; text-align: center"><b>a series of Arrow Investments Trust</b></p> <p style="margin: 0px; font-family: Arial,Times New Roman; text-align: center">CLASS A SHARES: &#160;MFTFX</p> <p style="margin: 0px; font-family: Arial,Times New Roman; text-align: center">CLASS C SHARES: &#160;MFTTX</p> <p style="margin: 0px; font-family: Arial,Times New Roman; text-align: center">INSTITUTIONAL CLASS SHARES: &#160;MFTNX</p> <p style="margin: 0px; text-align: center"><br /></p> <p style="margin: 0px; font-family: Arial,Times New Roman; text-align: center"><b>Supplement dated January 31, 2013</b></p> <p style="margin: 0px; font-family: Arial,Times New Roman; text-align: center"><b>to the Summary Prospectus, dated December 1, 2012</b></p> <p style="margin: 0px; font: 11pt Arial,Times New Roman; text-align: center"><b>______________________________________________________________________</b></p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify"><i>The following replaces the first two paragraphs and chart in the section &#147;Principal Investment Strategies&#148; in the Summary Prospectus, dated December 1, 2012: &#160;&#160;</i></p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify"><b>Principal Investment Strategies: </b>The Fund&#146;s advisor, Arrow Investment Advisors, LLC (the &#147;Advisor&#148;), seeks to achieve the Fund&#146;s investment objective by investing primarily in a combination of securities and derivatives that, as a whole, are expected to produce returns that track those of the benchmark. The Fund&#146;s benchmark is a blend of Trader Vic Index<sup> </sup>(50%) and AI Managed Futures Volatility Index (50%) (the &#147;benchmark&#148;).</p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify">The benchmark is constructed to capture both up and down price trends in physical commodities and financial futures markets. The current components of the benchmark consist of approximately 17 sectors (7 commodities, 10 financial) with a total of 28 components, allocated 38% to financial futures, e.g., interest rates, and currencies, and 62% to physical commodities, e.g., energy, metals and agriculture. The components are positioned either long, flat or short based on their prices relative to their moving averages.</p> <table cellpadding="0" cellspacing="0" align="center" style="margin-top: 0px; font-size: 10pt; width: 663px"> <tr style="height: 0px; font-size: 0"> <td style="width: 61.26px"></td> <td style="width: 11.4px"></td> <td style="width: 72px"></td> <td style="width: 70.2px"></td> <td style="width: 52px"></td> <td style="width: 63px"></td> <td style="width: 62.46px"></td> <td style="width: 80.66px"></td> <td style="width: 91px"></td> <td style="width: 83px"></td></tr> <tr><td style="margin-top: 0px; background-color: #000000; border: #000000 1.33px solid; vertical-align: top; width: 61.26px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial,Times New Roman; text-align: justify"><b>&#160;</b></p> </td><td colspan="7" style="margin-top: 0px; background-color: #000000; border-top: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 411.73px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial,Times New Roman; text-align: justify"><b>Benchmark Market, Sectors and Component </b></p> </td> <td colspan="2" style="margin-top: 0px; background-color: #000000; border-top: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 173px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial,Times New Roman; text-align: justify"><b>&#160;Scheme</b></p> </td></tr> <tr><td colspan="8" style="margin-top: 0px; background-color: #595959; border-left: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 473px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial">&#160;Commodity Market: Sectors &#38; Components</p> </td> <td colspan="2" style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 173px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial">Financial Markets: Sector</p> </td></tr> <tr><td colspan="2" style="margin-top: 0px; background-color: #595959; border-left: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 72.66px"><p style="margin: 0px; font: 8pt Arial">Energy+</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 72px"><p style="margin: 0px; font: 8pt Arial">Livestock+&#160;&#160;&#160;&#160;&#160;&#160; </p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 70.2px"><p style="margin: 0px; font: 8pt Arial">Grains+</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 52px"><p style="margin: 0px; font: 8pt Arial">Softs+</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 63px"><p style="margin: 0px; font: 8pt Arial">Precious Metals+</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 62.46px"><p style="margin: 0px; font: 8pt Arial">Industrial</p> <p style="margin: 0px; font: 8pt Arial">Metals</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 80.66px"><p style="margin: 0px; font: 8pt Arial">Infrastructure</p> </td> <td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 90px"><p style="margin: 0px; font: 8pt Arial">Currencies*</p> </td> <td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 82px"><p style="margin: 0px; font: 8pt Arial">Other*</p> </td></tr> <tr><td colspan="2" style="margin-top: 0px; border-left: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 72.66px"><p style="margin: 0px; font: 8pt Arial">Heating Oil</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Crude Oil</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Natural Gas</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Gasoline</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 72px"><p style="margin: 0px; font: 8pt Arial">Hogs&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p> <p style="margin: 0px; font: 8pt Arial">Cattle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 70.2px"><p style="margin: 0px; font: 8pt Arial">Corn</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Soybeans</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Wheat</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 52px"><p style="margin: 0px; font: 8pt Arial">Cocoa</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Coffee</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Cotton</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Sugar</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 63px"><p style="margin: 0px; font: 8pt Arial">Gold</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Silver</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Platinum</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 62.46px"><p style="margin: 0px; font: 8pt Arial">Copper</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 80.66px"><p style="margin: 0px; font: 8pt Arial">Lumber</p> </td> <td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 90px"><p style="margin: 0px; font: 8pt Arial">Australian Dollar</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">British Pound</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Canadian Dollar</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Euro</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Japanese Yen</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Swiss Franc</p> </td> <td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 82px"><p style="margin: 0px; font: 8pt Arial">Volatility</p> <p style="margin: 0px; font: 8pt Arial">US 2-Year Note</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">US 10-Year Note</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">US 30-Year Bond</p> </td></tr> </table> <p style="margin: 0px; font-family: Arial,Times New Roman; text-align: justify">Definition: + represents the commodity sectors; * represents the financial sectors, which are also the financial components.</p> <p style="margin: 0px; text-align: justify"><br /></p> <p style="margin: 0px; text-align: justify"><br /></p> <p style="margin: 0px; text-align: justify"><br /></p> <p style="margin: 0px; font-family: Arial,Times New Roman; text-align: center"><b>* &#160;&#160;&#160;* &#160;&#160;&#160;* &#160;&#160;&#160;* &#160;&#160;&#160;* &#160;&#160;&#160;*</b></p> <p><b>You should read this Supplement in conjunction with the Prospectus,dated December 1, 2012, as amended January 31, 2013 and Summary Prospectus and Statement of Additional Information, each dated December 1, 2012, which provide information that you should know about the Fund before investing.</b></p> <p style="margin-top: 0px; margin-bottom: 0px; font-size: 11pt; text-align: left"><b>Principal Investment Strategies:</b></p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify">The Fund&#146;s advisor, Arrow Investment Advisors, LLC (the &#147;Advisor&#148;), seeks to achieve the Fund&#146;s investment objective by investing primarily in a combination of securities and derivatives that, as a whole, are expected to produce returns that track those of the benchmark. The Fund&#146;s benchmark is a blend of Trader Vic Index<sup> </sup>(50%) and AI Managed Futures Volatility Index (50%) (the &#147;benchmark&#148;).</p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify">The benchmark is constructed to capture both up and down price trends in physical commodities and financial futures markets. The current components of the benchmark consist of approximately 17 sectors (7 commodities, 10 financial) with a total of 28 components, allocated 38% to financial futures, e.g., interest rates, and currencies, and 62% to physical commodities, e.g., energy, metals and agriculture. The components are positioned either long, flat or short based on their prices relative to their moving averages.</p> <table cellpadding="0" cellspacing="0" align="center" style="margin-top: 0px; font-size: 10pt; width: 663px"> <tr style="height: 0px; font-size: 0"> <td style="width: 61.26px"></td> <td style="width: 11.4px"></td> <td style="width: 72px"></td> <td style="width: 70.2px"></td> <td style="width: 52px"></td> <td style="width: 63px"></td> <td style="width: 62.46px"></td> <td style="width: 80.66px"></td> <td style="width: 91px"></td> <td style="width: 83px"></td></tr> <tr><td style="margin-top: 0px; background-color: #000000; border: #000000 1.33px solid; vertical-align: top; width: 61.26px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial,Times New Roman; text-align: justify"><b>&#160;</b></p> </td><td colspan="7" style="margin-top: 0px; background-color: #000000; border-top: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 411.73px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial,Times New Roman; text-align: justify"><b>Benchmark Market, Sectors and Component </b></p> </td> <td colspan="2" style="margin-top: 0px; background-color: #000000; border-top: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 173px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial,Times New Roman; text-align: justify"><b>&#160;Scheme</b></p> </td></tr> <tr><td colspan="8" style="margin-top: 0px; background-color: #595959; border-left: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 473px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial">&#160;Commodity Market: Sectors &#38; Components</p> </td> <td colspan="2" style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 173px"><p style="margin-top: 4.46px; margin-bottom: 4.46px; font: 8pt Arial">Financial Markets: Sector</p> </td></tr> <tr><td colspan="2" style="margin-top: 0px; background-color: #595959; border-left: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 72.66px"><p style="margin: 0px; font: 8pt Arial">Energy+</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 72px"><p style="margin: 0px; font: 8pt Arial">Livestock+&#160;&#160;&#160;&#160;&#160;&#160; </p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 70.2px"><p style="margin: 0px; font: 8pt Arial">Grains+</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 52px"><p style="margin: 0px; font: 8pt Arial">Softs+</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 63px"><p style="margin: 0px; font: 8pt Arial">Precious Metals+</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 62.46px"><p style="margin: 0px; font: 8pt Arial">Industrial</p> <p style="margin: 0px; font: 8pt Arial">Metals</p> </td><td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 80.66px"><p style="margin: 0px; font: 8pt Arial">Infrastructure</p> </td> <td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 90px"><p style="margin: 0px; font: 8pt Arial">Currencies*</p> </td> <td style="margin-top: 0px; background-color: #595959; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 82px"><p style="margin: 0px; font: 8pt Arial">Other*</p> </td></tr> <tr><td colspan="2" style="margin-top: 0px; border-left: #000000 1.33px solid; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 72.66px"><p style="margin: 0px; font: 8pt Arial">Heating Oil</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Crude Oil</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Natural Gas</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Gasoline</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 72px"><p style="margin: 0px; font: 8pt Arial">Hogs&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p> <p style="margin: 0px; font: 8pt Arial">Cattle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 70.2px"><p style="margin: 0px; font: 8pt Arial">Corn</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Soybeans</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Wheat</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 52px"><p style="margin: 0px; font: 8pt Arial">Cocoa</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Coffee</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Cotton</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Sugar</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 63px"><p style="margin: 0px; font: 8pt Arial">Gold</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Silver</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Platinum</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 62.46px"><p style="margin: 0px; font: 8pt Arial">Copper</p> </td><td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 80.66px"><p style="margin: 0px; font: 8pt Arial">Lumber</p> </td> <td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 90px"><p style="margin: 0px; font: 8pt Arial">Australian Dollar</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">British Pound</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Canadian Dollar</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Euro</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Japanese Yen</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">Swiss Franc</p> </td> <td style="margin-top: 0px; border-right: #000000 1.33px solid; border-bottom: #000000 1.33px solid; vertical-align: top; width: 82px"><p style="margin: 0px; font: 8pt Arial">Volatility</p> <p style="margin: 0px; font: 8pt Arial">US 2-Year Note</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">US 10-Year Note</p> <p style="margin: 0px"><br /></p> <p style="margin: 0px; font: 8pt Arial">US 30-Year Bond</p> </td></tr> </table> <p style="margin: 0px; font-family: Arial,Times New Roman; text-align: justify">Definition: + represents the commodity sectors; * represents the financial sectors, which are also the financial components.</p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify">The securities in the Fund&#146;s portfolio consist primarily of commodity, currency, and financial-linked structured notes; exchange-traded notes; exchange-traded funds and other investment companies (including mutual funds) that provide exposure to the managed commodities and financial futures markets. &#160;The derivatives in the Fund&#146;s portfolio consist primarily of commodity, currency, and financial-linked derivative instruments, including swap agreements, commodity options, futures and options on futures, and equity securities.</p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify">The Advisor also intends to enter into short positions and other similar transactions to track the benchmark. &#160;On certain occasions, the Fund may employ leveraging techniques to attempt to match the benchmark. &#160;On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality fixed-income securities, money market instruments, overnight and fixed-term repurchase agreements, cash, and other cash equivalents with maturities of one year or less to collateralize its derivative positions.</p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify">The Fund will invest up to 25% of its total assets in a wholly-owned and controlled subsidiary (the &#147;Arrow MFT Subsidiary&#148;). The Arrow MFT Subsidiary will invest primarily in (long and short) commodity and financial futures, options and swap contracts, as well as fixed income securities and other investments intended to serve as margin or collateral for the Arrow MFT Subsidiary&#146;s derivative positions. &#160;When viewed on a consolidated basis, the Arrow MFT Subsidiary is subject to the same investment restrictions as the Fund. &#160;The Fund will consolidate the Arrow MFT Subsidiary for purposes of financial statements, leverage and concentration. &#160;The Fund does not invest more than 25% of its assets in derivative contracts with any one counterparty.</p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify">The Fund&#146;s Advisor may engage in frequent buying and selling of portfolio securities to achieve the Fund&#146;s investment objective.</p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify">The Fund is non-diversified, which means that it can invest a greater percentage of its assets in any one issuer than a diversified fund.</p> <p style="margin-top: 5.53px; margin-bottom: 5.53px; font-family: Arial,Times New Roman; text-align: justify">The benchmark is constructed to capture both up and down price trends in physical commodities and financial futures markets. The current components of the benchmark consist of approximately 17 sectors (7 commodities, 10 financial) with a total of 28 components, allocated 38% to financial futures, e.g., interest rates, and currencies, and 62% to physical commodities, e.g., energy, metals and agriculture.</p> EX-101.SCH 3 ait-20130131.xsd 0004 - Document - Risk/Return Summary {Unlabeled} link:presentationLink link:calculationLink link:definitionLink 0005 - Schedule - Shareholder Fees link:presentationLink link:calculationLink link:definitionLink 0006 - Schedule - Annual Fund Operating Expenses link:presentationLink link:calculationLink link:definitionLink 0007 - Schedule - Expense Example {Transposed} link:presentationLink link:calculationLink link:definitionLink 0008 - Schedule - Expense Example, No Redemption {Transposed} link:presentationLink link:calculationLink link:definitionLink 0009 - Schedule - Annual Total Returns link:presentationLink link:calculationLink link:definitionLink 0010 - Schedule - Average Annual Total Returns {Transposed} link:presentationLink link:calculationLink link:definitionLink 0011 - Document - Risk/Return Detail {Unlabeled} link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 ait-20130131_cal.xml EX-101.DEF 5 ait-20130131_def.xml EX-101.LAB 6 ait-20130131_lab.xml ARROW MANAGED FUTURES STRATEGY FUND Legal Entity [Axis] ARROW MANAGED FUTURES STRATEGY FUND CLASS A SHARES Share Class [Axis] ARROW MANAGED FUTURES STRATEGY FUND CLASS C SHARES ARROW MANAGED FUTURES STRATEGY FUND INSTITUTIONAL CLASS SHARES Prospectus: [Table] Prospectus [Line Items] Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Risk/Return [Heading] Supplement [Text Block] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Operating Expenses Caption [Text] Operating Expenses Column [Text] Management Fees (as a percentage of Assets) Distribution and Service (12b-1) Fees Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Other Expenses (as a percentage of Assets): Acquired Fund Fees and Expenses 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Block] Expense Example by, Year, Caption [Text] Expense Example, with Redemption, 1 Year Expense Example, with Redemption, 3 Years Expense Example, with Redemption, 5 Years Expense Example, with Redemption, 10 Years Expense Example, No Redemption Narrative [Text Block] Expense Example, No Redemption, By Year, Caption [Text] Expense Example, No Redemption, 1 Year Expense Example, No Redemption, 3 Years Expense Example, No Redemption, 5 Years Expense Example, No Redemption, 10 Years Expense Example Footnotes [Text Block] Expense Example Closing [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Strategy Portfolio Concentration [Text] Risk [Heading] Risk Narrative [Text Block] Risk Footnotes [Text Block] Risk Closing [Text Block] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Bar Chart and Performance Table [Heading] Performance Narrative [Text 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2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Bar Chart Footnotes [Text Block] Bar Chart Closing [Text Block] Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Heading Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes [Text] Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred Performance Table One Class of after Tax Shown [Text] Performance Table Explanation after Tax Higher Performance Table Narrative Performance Table Footnotes, Reason Performance Information for Class Different 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Label Element Value
Prospectus [Line Items] rr_ProspectusLineItems  
Document Type dei_DocumentType Other
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2011
Registrant Name dei_EntityRegistrantName Arrow Investments Trust
Central Index Key dei_EntityCentralIndexKey 0001527428
Amendment Flag dei_AmendmentFlag false
Trading Symbol dei_TradingSymbol ait
Document Creation Date dei_DocumentCreationDate Jan. 31, 2013
Document Effective Date dei_DocumentEffectiveDate Jan. 31, 2013
Prospectus Date rr_ProspectusDate Dec. 01, 2012
ARROW MANAGED FUTURES STRATEGY FUND
 
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading

ARROW MANAGED FUTURES STRATEGY FUND

Supplement [Text Block] ait_SupplementTextBlock


ARROW MANAGED FUTURES STRATEGY FUND

a series of Arrow Investments Trust

CLASS A SHARES:  MFTFX

CLASS C SHARES:  MFTTX

INSTITUTIONAL CLASS SHARES:  MFTNX


Supplement dated January 31, 2013

to the Summary Prospectus, dated December 1, 2012

______________________________________________________________________

The following replaces the first two paragraphs and chart in the section “Principal Investment Strategies” in the Summary Prospectus, dated December 1, 2012:   

Principal Investment Strategies: The Fund’s advisor, Arrow Investment Advisors, LLC (the “Advisor”), seeks to achieve the Fund’s investment objective by investing primarily in a combination of securities and derivatives that, as a whole, are expected to produce returns that track those of the benchmark. The Fund’s benchmark is a blend of Trader Vic Index (50%) and AI Managed Futures Volatility Index (50%) (the “benchmark”).

The benchmark is constructed to capture both up and down price trends in physical commodities and financial futures markets. The current components of the benchmark consist of approximately 17 sectors (7 commodities, 10 financial) with a total of 28 components, allocated 38% to financial futures, e.g., interest rates, and currencies, and 62% to physical commodities, e.g., energy, metals and agriculture. The components are positioned either long, flat or short based on their prices relative to their moving averages.

 

Benchmark Market, Sectors and Component

 Scheme

 Commodity Market: Sectors & Components

Financial Markets: Sector

Energy+

Livestock+      

Grains+

Softs+

Precious Metals+

Industrial

Metals

Infrastructure

Currencies*

Other*

Heating Oil


Crude Oil


Natural Gas


Gasoline

Hogs            

Cattle         

Corn


Soybeans


Wheat

Cocoa


Coffee


Cotton


Sugar

Gold


Silver


Platinum

Copper

Lumber

Australian Dollar


British Pound


Canadian Dollar


Euro


Japanese Yen


Swiss Franc

Volatility

US 2-Year Note


US 10-Year Note


US 30-Year Bond

Definition: + represents the commodity sectors; * represents the financial sectors, which are also the financial components.




*    *    *    *    *    *

You should read this Supplement in conjunction with the Prospectus,dated December 1, 2012, as amended January 31, 2013 and Summary Prospectus and Statement of Additional Information, each dated December 1, 2012, which provide information that you should know about the Fund before investing.

Strategy [Heading] rr_StrategyHeading

Principal Investment Strategies:

Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund’s advisor, Arrow Investment Advisors, LLC (the “Advisor”), seeks to achieve the Fund’s investment objective by investing primarily in a combination of securities and derivatives that, as a whole, are expected to produce returns that track those of the benchmark. The Fund’s benchmark is a blend of Trader Vic Index (50%) and AI Managed Futures Volatility Index (50%) (the “benchmark”).

The benchmark is constructed to capture both up and down price trends in physical commodities and financial futures markets. The current components of the benchmark consist of approximately 17 sectors (7 commodities, 10 financial) with a total of 28 components, allocated 38% to financial futures, e.g., interest rates, and currencies, and 62% to physical commodities, e.g., energy, metals and agriculture. The components are positioned either long, flat or short based on their prices relative to their moving averages.

 

Benchmark Market, Sectors and Component

 Scheme

 Commodity Market: Sectors & Components

Financial Markets: Sector

Energy+

Livestock+      

Grains+

Softs+

Precious Metals+

Industrial

Metals

Infrastructure

Currencies*

Other*

Heating Oil


Crude Oil


Natural Gas


Gasoline

Hogs            

Cattle         

Corn


Soybeans


Wheat

Cocoa


Coffee


Cotton


Sugar

Gold


Silver


Platinum

Copper

Lumber

Australian Dollar


British Pound


Canadian Dollar


Euro


Japanese Yen


Swiss Franc

Volatility

US 2-Year Note


US 10-Year Note


US 30-Year Bond

Definition: + represents the commodity sectors; * represents the financial sectors, which are also the financial components.

The securities in the Fund’s portfolio consist primarily of commodity, currency, and financial-linked structured notes; exchange-traded notes; exchange-traded funds and other investment companies (including mutual funds) that provide exposure to the managed commodities and financial futures markets.  The derivatives in the Fund’s portfolio consist primarily of commodity, currency, and financial-linked derivative instruments, including swap agreements, commodity options, futures and options on futures, and equity securities.

The Advisor also intends to enter into short positions and other similar transactions to track the benchmark.  On certain occasions, the Fund may employ leveraging techniques to attempt to match the benchmark.  On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality fixed-income securities, money market instruments, overnight and fixed-term repurchase agreements, cash, and other cash equivalents with maturities of one year or less to collateralize its derivative positions.

The Fund will invest up to 25% of its total assets in a wholly-owned and controlled subsidiary (the “Arrow MFT Subsidiary”). The Arrow MFT Subsidiary will invest primarily in (long and short) commodity and financial futures, options and swap contracts, as well as fixed income securities and other investments intended to serve as margin or collateral for the Arrow MFT Subsidiary’s derivative positions.  When viewed on a consolidated basis, the Arrow MFT Subsidiary is subject to the same investment restrictions as the Fund.  The Fund will consolidate the Arrow MFT Subsidiary for purposes of financial statements, leverage and concentration.  The Fund does not invest more than 25% of its assets in derivative contracts with any one counterparty.

The Fund’s Advisor may engage in frequent buying and selling of portfolio securities to achieve the Fund’s investment objective.

The Fund is non-diversified, which means that it can invest a greater percentage of its assets in any one issuer than a diversified fund.

Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration

The benchmark is constructed to capture both up and down price trends in physical commodities and financial futures markets. The current components of the benchmark consist of approximately 17 sectors (7 commodities, 10 financial) with a total of 28 components, allocated 38% to financial futures, e.g., interest rates, and currencies, and 62% to physical commodities, e.g., energy, metals and agriculture.

ARROW MANAGED FUTURES STRATEGY FUND | ARROW MANAGED FUTURES STRATEGY FUND CLASS A SHARES
 
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol MFTFX
ARROW MANAGED FUTURES STRATEGY FUND | ARROW MANAGED FUTURES STRATEGY FUND CLASS C SHARES
 
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol MFTTX
ARROW MANAGED FUTURES STRATEGY FUND | ARROW MANAGED FUTURES STRATEGY FUND INSTITUTIONAL CLASS SHARES
 
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol MFTNX
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XML 13 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
ARROW MANAGED FUTURES STRATEGY FUND

ARROW MANAGED FUTURES STRATEGY FUND


ARROW MANAGED FUTURES STRATEGY FUND

a series of Arrow Investments Trust

CLASS A SHARES:  MFTFX

CLASS C SHARES:  MFTTX

INSTITUTIONAL CLASS SHARES:  MFTNX


Supplement dated January 31, 2013

to the Summary Prospectus, dated December 1, 2012

______________________________________________________________________

The following replaces the first two paragraphs and chart in the section “Principal Investment Strategies” in the Summary Prospectus, dated December 1, 2012:   

Principal Investment Strategies: The Fund’s advisor, Arrow Investment Advisors, LLC (the “Advisor”), seeks to achieve the Fund’s investment objective by investing primarily in a combination of securities and derivatives that, as a whole, are expected to produce returns that track those of the benchmark. The Fund’s benchmark is a blend of Trader Vic Index (50%) and AI Managed Futures Volatility Index (50%) (the “benchmark”).

The benchmark is constructed to capture both up and down price trends in physical commodities and financial futures markets. The current components of the benchmark consist of approximately 17 sectors (7 commodities, 10 financial) with a total of 28 components, allocated 38% to financial futures, e.g., interest rates, and currencies, and 62% to physical commodities, e.g., energy, metals and agriculture. The components are positioned either long, flat or short based on their prices relative to their moving averages.

 

Benchmark Market, Sectors and Component

 Scheme

 Commodity Market: Sectors & Components

Financial Markets: Sector

Energy+

Livestock+      

Grains+

Softs+

Precious Metals+

Industrial

Metals

Infrastructure

Currencies*

Other*

Heating Oil


Crude Oil


Natural Gas


Gasoline

Hogs            

Cattle         

Corn


Soybeans


Wheat

Cocoa


Coffee


Cotton


Sugar

Gold


Silver


Platinum

Copper

Lumber

Australian Dollar


British Pound


Canadian Dollar


Euro


Japanese Yen


Swiss Franc

Volatility

US 2-Year Note


US 10-Year Note


US 30-Year Bond

Definition: + represents the commodity sectors; * represents the financial sectors, which are also the financial components.




*    *    *    *    *    *

You should read this Supplement in conjunction with the Prospectus,dated December 1, 2012, as amended January 31, 2013 and Summary Prospectus and Statement of Additional Information, each dated December 1, 2012, which provide information that you should know about the Fund before investing.

Principal Investment Strategies:

The Fund’s advisor, Arrow Investment Advisors, LLC (the “Advisor”), seeks to achieve the Fund’s investment objective by investing primarily in a combination of securities and derivatives that, as a whole, are expected to produce returns that track those of the benchmark. The Fund’s benchmark is a blend of Trader Vic Index (50%) and AI Managed Futures Volatility Index (50%) (the “benchmark”).

The benchmark is constructed to capture both up and down price trends in physical commodities and financial futures markets. The current components of the benchmark consist of approximately 17 sectors (7 commodities, 10 financial) with a total of 28 components, allocated 38% to financial futures, e.g., interest rates, and currencies, and 62% to physical commodities, e.g., energy, metals and agriculture. The components are positioned either long, flat or short based on their prices relative to their moving averages.

 

Benchmark Market, Sectors and Component

 Scheme

 Commodity Market: Sectors & Components

Financial Markets: Sector

Energy+

Livestock+      

Grains+

Softs+

Precious Metals+

Industrial

Metals

Infrastructure

Currencies*

Other*

Heating Oil


Crude Oil


Natural Gas


Gasoline

Hogs            

Cattle         

Corn


Soybeans


Wheat

Cocoa


Coffee


Cotton


Sugar

Gold


Silver


Platinum

Copper

Lumber

Australian Dollar


British Pound


Canadian Dollar


Euro


Japanese Yen


Swiss Franc

Volatility

US 2-Year Note


US 10-Year Note


US 30-Year Bond

Definition: + represents the commodity sectors; * represents the financial sectors, which are also the financial components.

The securities in the Fund’s portfolio consist primarily of commodity, currency, and financial-linked structured notes; exchange-traded notes; exchange-traded funds and other investment companies (including mutual funds) that provide exposure to the managed commodities and financial futures markets.  The derivatives in the Fund’s portfolio consist primarily of commodity, currency, and financial-linked derivative instruments, including swap agreements, commodity options, futures and options on futures, and equity securities.

The Advisor also intends to enter into short positions and other similar transactions to track the benchmark.  On certain occasions, the Fund may employ leveraging techniques to attempt to match the benchmark.  On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality fixed-income securities, money market instruments, overnight and fixed-term repurchase agreements, cash, and other cash equivalents with maturities of one year or less to collateralize its derivative positions.

The Fund will invest up to 25% of its total assets in a wholly-owned and controlled subsidiary (the “Arrow MFT Subsidiary”). The Arrow MFT Subsidiary will invest primarily in (long and short) commodity and financial futures, options and swap contracts, as well as fixed income securities and other investments intended to serve as margin or collateral for the Arrow MFT Subsidiary’s derivative positions.  When viewed on a consolidated basis, the Arrow MFT Subsidiary is subject to the same investment restrictions as the Fund.  The Fund will consolidate the Arrow MFT Subsidiary for purposes of financial statements, leverage and concentration.  The Fund does not invest more than 25% of its assets in derivative contracts with any one counterparty.

The Fund’s Advisor may engage in frequent buying and selling of portfolio securities to achieve the Fund’s investment objective.

The Fund is non-diversified, which means that it can invest a greater percentage of its assets in any one issuer than a diversified fund.

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