GemCom, LLC

0000910472-13-002435.txt : 20130613 0000910472-13-002435.hdr.sgml : 20130613 20130613100131 ACCESSION NUMBER: 0000910472-13-002435 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130613 DATE AS OF CHANGE: 20130613 EFFECTIVENESS DATE: 20130613 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHERN LIGHTS FUND TRUST III CENTRAL INDEX KEY: 0001537140 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-178833 FILM NUMBER: 13910284 BUSINESS ADDRESS: STREET 1: 450 WIRELESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 631-470-2621 MAIL ADDRESS: STREET 1: 450 WIRELESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORTHERN LIGHTS FUND TRUST III CENTRAL INDEX KEY: 0001537140 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22655 FILM NUMBER: 13910285 BUSINESS ADDRESS: STREET 1: 450 WIRELESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788 BUSINESS PHONE: 631-470-2621 MAIL ADDRESS: STREET 1: 450 WIRELESS BLVD CITY: HAUPPAUGE STATE: NY ZIP: 11788

0001537140 S000040086 Discretionary Managed Futures Strategy Fund

C000124431 Discretionary Managed Futures Strategy Fund

485BPOS 1 xbrlsignaturepage.htm 485BPOS GemCom, LLC

Securities Act Registration No. 333-178833

Investment Company Act Registration No. 811-22655

As filed with the Securities and Exchange Commission on June 13, 2013

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ý

¨ Pre-Effective Amendment No.

ý Post-Effective Amendment No. 56

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 ý

ý Amendment No. 57

(Check appropriate box or boxes.)

Northern Lights Fund Trust III

(Exact Name of Registrant as Specified in Charter)

17605 Wright Street, Omaha, NE 68130

(Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number, including Area Code: (402) 895-1600

The Corporation Trust Company

1209 Orange Street

Wilmington, DE 19801

(Name and Address of Agent for Service)

With copy to:

JoAnn M. Strasser, Thompson Hine LLP

41 South High Street, 17th Floor

Columbus, Ohio 43215

614-469-3265 (phone)

614-469-3361 (fax)

James P. Ash,

Gemini Fund Services, LLC

80 Arkay Drive, Suite 110

Hauppauge, New York 11788

(631) 470-2619

Approximate date of proposed public offering: As soon as practicable after the effective date of the Registration Statement.

It is proposed that this filing will become effective:

ý 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 Discretionary Managed Futures Strategy Fund.

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. 56 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 the 13 ^th day of June, 2013.

NORTHERN LIGHTS FUND TRUST III

(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.


Name	Title
Andrew Rogers*	President
Brian Curley*	Treasurer
Mark H. Taylor*	Independent Trustee
Jerry Vincentini*	Independent Trustee
Anthony M. Payne*	Independent Trustee
James U. Jensen*	Independent Trustee
John V. Palancia*	Independent Trustee

By: Date:

/s/ James Ash

June 13, 2013

James Ash

*Attorney-in-Fact – Pursuant to Powers of Attorney previously filed on May 30, 2013.

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

EX-101.INS 2 nlft-20130530.xml 0001537140 2013-05-30 2013-05-30 0001537140 nlft:S000040086Member 2013-05-30 2013-05-30 0001537140 nlft:S000040086Member nlft:C000124431Member 2013-05-30 2013-05-30 iso4217:USD xbrli:pure 485BPOS 2013-05-30 NORTHERN LIGHTS FUND TRUST III 0001537140 false nlft FUTEX 2013-05-30 2013-05-30 2013-05-30 Discretionary Managed Futures Strategy Fund Investment Objective The Fund seeks positive absolute returns. Fees and Expenses of the Fund: This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Fund shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 21 of the Funds Prospectus. Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Example: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Funds operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: Portfolio Turnover: The Fund pays transaction costs, such as commissions, when it buys and sells securities (or turns over its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Funds performance. Principal Investment Strategies: The Fund seeks to achieve its investment objective by using two principal strategies:   Managed Futures Strategy   Fixed Income Strategy   The Managed Futures strategy is designed to capture returns related to the commodity and financial futures markets by investing primarily in securities of limited partnerships, corporations, limited liability companies (including individual share classes therein) and other types of pooled investment vehicles (collectively, Underlying Pools). Each Underlying Pool invests according to a managed futures sub-strategy that takes long and short positions in one or a combination of (i) options, (ii) futures, (iii) forwards or (iv) spot contracts, each of which may be tied to (i) commodities, (ii) financial indices and instruments, (iii) foreign currencies, or (iv) equity indices. Managed futures sub-strategies may include investment styles such as (i) discretionary macro investing based on economic fundamentals and value and (ii) specialized approaches to specific or individual market sectors such as financials, equities, currencies, metals, agricultural and soft commodities. While not expected to be the primary investment style, the managed futures sub-strategies may also include some systematic trading. When Underlying Pools use leverage, the Fund will experience more volatility. Managed Futures strategy investments will be made without restriction as to issuer capitalization, country, or currency, which may include exposure to foreign futures markets.   The Fund executes its Managed Futures strategy, primarily, by investing up to 25% of its total assets in a wholly-owned and controlled subsidiary (the Subsidiary); however, the Fund may also make Managed Futures investments outside of the Subsidiary. The Subsidiary invests the majority of its assets in Underlying Pools; however, the Subsidiary may also make investments outside of the Underlying Pools including foreign currency transactions and futures on foreign currencies transactions. The Subsidiary is subject to the same investment restrictions as the Fund, when viewed on a consolidated basis. The Funds adviser anticipates allocating approximately 25% of Fund assets to the Managed Futures strategy and approximately 75% to the Fixed Income strategy. However, as market conditions change, ranges may change.   The Fixed Income strategy is designed to generate interest income and capital appreciation with the objective to diversify the returns under the Managed Futures strategy. The Fixed Income strategy will invest in a variety of investment grade, domestic fixed income securities. The Fixed Income strategys portfolio will maintain an average maturity that ranges between short-term (less than 1 year) and intermediate-term (4-7 years). The Fixed Income strategy will invest in investment grade securities, which the Fund defines as those that are rated, at the time purchased, in the top four categories by a rating agency such as Moodys Investors Service, Inc. (Moodys) or Standard & Poors Ratings Group (S & P), or, if, unrated determined to be of comparable quality.   The Funds adviser delegates management of the Funds Fixed Income strategy portfolio to a sub-adviser. Principal Investment Risks: As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund is not intended to be a complete investment program. Many factors affect the Funds net asset value and performance.   The following risks apply to the Funds direct investment in securities as well the Funds indirect risks through investing in Underlying Pools and the Subsidiary.   Commodity Risk: Investing in the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Commodity prices may be influenced by unfavorable weather, animal and plant disease, geologic and environmental factors as well as changes in government regulation such as tariffs, embargoes or burdensome production rules and restrictions.   Credit Risk: There is a risk that issuers and counterparties will not make payments on securities and other investments held by the Fund, resulting in losses to the Fund. In addition, the credit quality of securities held by the Fund may be lowered if an issuers financial condition changes.   Derivatives Risk: The Funds use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities including leverage risk and counterparty default risk.   Fixed Income Risk: Typically, a rise in interest rates causes a decline in the value of fixed income securities. The value of fixed income securities typically falls when an issuers credit quality declines and may even become worthless if an issuer defaults.   Foreign Currency Risk: Currency trading risks include market risk, credit risk and country risk. Market risk results from adverse changes in exchange rates in the currencies the Fund is long or short. Credit risk results because a currency-trade counterparty may default. Country risk arises because a government may interfere with transactions in its currency.   Foreign Investment Risk: Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards. Investing in emerging markets imposes risks different from, or greater than, risks of investing in foreign developed countries.   Issuer-Specific Risk: The value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.   Leverage Risk: Using derivatives to increase the Funds combined long and short exposure creates leverage, which can magnify the Funds potential for gain or loss and, therefore, amplify the effects of market volatility on the Funds share price.   Limited History of Operations: The Fund is a new mutual fund and has a limited history of operation.   Liquidity Risk: Liquidity risk exists when particular investments of the Fund would be difficult to purchase or sell, possibly preventing the Fund from selling such illiquid securities at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable times or prices in order to satisfy its obligations.   Management Risk: The advisers and sub-advisers judgments about the attractiveness, value and potential appreciation of particular asset classes and securities in which the Fund invests may prove to be incorrect and may not produce the desired results. Additionally, the advisers judgments about the potential performance of the sub-adviser may also prove incorrect and may not produce the desired results.   Market Risk: Overall securities and derivatives market risks may affect the value of individual instruments in which the Fund invests. Factors such as domestic and foreign economic growth and market conditions, interest rate levels, and political events affect the securities and derivatives markets. When the value of the Funds investments goes down, your investment in the Fund decreases in value and you could lose money.   New Adviser Risk: The adviser is a newly created investment adviser and has not previously managed a mutual fund.   Non-Diversification Risk: As a non-diversified fund, the Fund may invest more than 5% of its total assets in the securities of one or more issuers. The Funds performance may be more sensitive to any single economic, business, political or regulatory occurrence than the value of shares of a diversified investment company.   Taxation Risk: By investing in commodities indirectly through the Subsidiary, the Fund will obtain exposure to the commodities markets within the federal tax requirements that apply to the Fund. However, because the Subsidiary is a controlled foreign corporation, any income received from its investments in the Underlying Pools will be passed through to the Fund as ordinary income, which may be taxed at less favorable rates than capital gains.   Underlying Pool Risk: Underlying Pools are subject to investment advisory and other expenses, which will be indirectly paid by the Fund as an investor in Underlying Pools. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in an Underlying Pool and may be higher than other mutual funds that invest directly in stocks and bonds. The Underlying Pools will pay management fees, brokerage commissions, and operating expenses as well as performance based fees to each Underlying Pool manager. Those performance based fees will be paid by the Underlying Pool to each manager without regard to the performance of other Underlying Pools (notwithstanding that a single manager may be employed by two or more Underlying Pools) and the Funds overall profitability. Underlying Pools are subject to specific risks, depending on the nature of the fund. There is no guarantee that any of the trading strategies used by the managers retained by an Underlying Pool will be profitable or avoid losses.   Wholly-Owned Subsidiary Risk: The Subsidiary will not be registered under the Investment Company Act of 1940 (1940 Act) and, unless otherwise noted in this Prospectus, will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary, respectively, are organized, could result in the inability of the Fund and/or Subsidiary to operate as described in this Prospectus and could negatively affect the Fund and its shareholders. Your cost of investing in the Fund will be higher because you indirectly bear the expenses of the Subsidiary. Performance: Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. In the future, performance information will be presented in this section of this Prospectus. Updated performance information will be available at no cost by calling 1-888-985-9750. 0.0575 0.0100 .0000 -0.0100 0.0175 0.0025 0.0070 0.0002 0.0272 -0.0011 0.0261 <div style="display: none">~ http://nlfund.com/role/ShareholderFeesData column period compact * column dei_LegalEntityAxis compact nlft_S000040086Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display: none">~ http://nlfund.com/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact nlft_S000040086Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> 824 1361 <div style="display: none">~ http://nlfund.com/role/ExpenseExample column period compact * column dei_LegalEntityAxis compact nlft_S000040086Member column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> You may qualify for sales charge discounts on purchases of Fund shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. 50000 Other Expenses are based on estimated amounts for the current fiscal year. Acquired Fund Fees and Expenses are the estimated indirect costs of investing in other investment companies and do not include the cost of investing in underlying funds, like commodity pools, that are not investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Funds financial highlights because the financial statements include only the direct operating expenses incurred by the Fund. 2014-07-31 As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. As a non-diversified fund, the Fund may invest more than 5% of its total assets in the securities of one or more issuers. The Funds performance may be more sensitive to any single economic, business, political or regulatory occurrence than the value of shares of a diversified investment company. 1-888-985-9750 Other Expenses are based on estimated amounts for the current fiscal year. Other Expenses do not include the cost of investing in underlying funds, like commodity pools, that are not investment companies. The Fund estimates that underlying fund expenses, if presented, would be 1.50%. This estimate does not include performance-based fees, which cannot be meaningfully estimated. but are expected to be between 20% and 30%. The expenses of the Fund's wholly-owned subsidiary are consolidated with those of the Fund and are not presented as a separate expense. Acquired Fund Fees and Expenses are the estimated indirect costs of investing in other investment companies and do not include the cost of investing in underlying funds, like commodity pools, that are not investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial statements include only the direct operating expenses incurred by the Fund. The Fund's adviser has contractually agreed to reduce its fees and to reimburse expenses, at least until July 31, 2014, to ensure that total annual Fund operating expenses after fee waiver and reimbursement (exclusive of any taxes, short selling expenses, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, indirect expenses, expenses of other investment companies in which the Fund may invest including Underlying Pools, or extraordinary expenses such as litigation) will not exceed 2.59% of average daily net assets attributable to Class A shares of the Fund. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund in future years on a rolling three year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the foregoing expense limits. This agreement may be terminated only by the Fund's Board of Trustees, on 60 days written notice to the Fund's adviser. 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'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } } EXCEL 9 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%]F.&9A-C-B8E]F9&,Q7S1C86-?.34R95\X-SDR M9F1F.30V,6$B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T#I%>&-E;%=O#I%>&-E;%=O6QE#I!8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T#I0#I0#I0&UL/CPA6V5N9&EF72TM/@T*/"]H96%D/@T*("`\8F]D>3X-"B`@ M(#QP/E1H:7,@<&%G92!S:&]U;&0@8F4@;W!E;F5D('=I=&@@36EC'1087)T7V8X9F$V,V)B7V9D8S%?-&-A8U\Y-3)E7S@W M.3)F9&8Y-#8Q80T*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B]F.&9A M-C-B8E]F9&,Q7S1C86-?.34R95\X-SDR9F1F.30V,6$O5V]R:W-H965T'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M"<^ M/&(^1&ES8W)E=&EO;F%R>2!-86YA9V5D($9U='5R97,@4W1R871E9WD@1G5N M9#PO8CX\+W`^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@ M("`@/'1R(&-L87-S/3-$'0^ M/'`@"<^5&AE($9U;F0@'0^/'`@'0^/'`@'!E;G-E6]U'0^/'`@2!F&EM=6T@4V%L97,@0VAA&EM=6T@1&5F97)R960@4V%L97,@0VAA&EM=6T@4V%L97,@0VAA7,I/"]T9#X-"B`@("`@("`@("`@("`@/'1D(&-L87-S/3-$;G5M M<#XQ+C`P)3QS<&%N/CPO6QE/3-$)VUA6]U('!A M>2!E86-H('EE87(@87,@82!P97)C96YT86=E(&]F('1H92!V86QU92!O9B!Y M;W5R(&EN=F5S=&UE;G0I/"]B/CPO<#X\'!E;G-E'!E8W1E9"!T;R!B92!B971W965N(#(P M)2!A;F0@,S`E+B!4:&4@97AP96YS97,@;V8@=&AE($9U;F0G2!A'!E;G-E M(')A=&EO(&EN('1H92!&=6YD)W,@9FEN86YC:6%L(&AI9VAL:6=H=',@8F5C M875S92!T:&4@9FEN86YC:6%L('-T871E;65N=',@:6YC;'5D92!O;FQY('1H M92!D:7)E8W0@;W!E2!A M9W)E960@=&\@'!E;G-E&-L=7-I=F4@ M;V8@86YY('1A>&5S+"!S:&]R="!S96QL:6YG(&5X<&5N'!E;G-E2!I;G9E65A7,@=W)I='1E M;B!N;W1I8V4@=&\@=&AE($9U;F0G'0^/'`@'0^/'`@6QE/3-$)VUA M6]U(&EN=F5S M="`D,3`L,#`P(&EN('1H92!&=6YD(&9O&%M<&QE(&%L6]U'!E;G-E($5X86UP;&4-"@T*#0H-"BA54T0@)"D\8G(^/"]S=')O;F<^/"]T M:#X-"B`@("`@("`@("`@("`@/'1H(&-L87-S/3-$=&@^,2!996%R/&)R/CPO M=&@^#0H@("`@("`@("`@("`@(#QT:"!C;&%S'0^/'`@"<^5&AE($9U;F0@<&%Y2!I;F1I8V%T92!H:6=H M97(@=')A;G-A8W1I;VX@8V]S=',@86YD(&UA>2!R97-U;'0@:6X@:&EG:&5R M('1A>&5S('=H96X@1G5N9"!S:&%R97,@87)E(&AE;&0@:6X@82!T87AA8FQE M(&%C8V]U;G0N("!4:&5S92!C;W-T&%M<&QE+"!A9F9E8W0@=&AE($9U;F0F(S$T-CMS('!E6QE/3-$)VUA2!U M2!C;VUP86YI M97,@*&EN8VQU9&EN9R!I;F1I=FED=6%L('-H87)E(&-L87-S97,@=&AE2!I;F1I8V5S+B!-86YA9V5D(&9U='5R97,@ M2!M86-R;R!I;G9EF%T:6]N+"!C;W5N=')Y+"!O2P@=VAI8V@@;6%Y(&EN M8VQU9&4@97AP;W-U2P@<')I;6%R:6QY+"!B>2!I;G9E M2`H=&AE("8C,30W M.U-U8G-I9&EA2`R-24@;V8@1G5N9"!A M2!A;F0@87!P M2`W-24@=&\@=&AE($9I>&5D($EN8V]M92!S=')A=&5G>2X@ M($AO=V5V97(L(&%S(&UA2!C:&%N9V4N/"]P/@T*#0H\<"!S='EL93TS1"=M87)G:6XZ(#!P="<^ M)B,Q-C`[/"]P/@T*#0H\<"!S='EL93TS1"=M87)G:6XZ(#!P="<^5&AE($9I M>&5D($EN8V]M92!S=')A=&5G>2!I2X@(%1H92!&:7AE9"!) 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Label

Element

Value

Prospectus [Line Items]

rr_ProspectusLineItems

Document Type

dei_DocumentType

485BPOS

Document Period End Date

dei_DocumentPeriodEndDate

May 30, 2013

Registrant Name

dei_EntityRegistrantName

NORTHERN LIGHTS FUND TRUST III

Central Index Key

dei_EntityCentralIndexKey

0001537140

Amendment Flag

dei_AmendmentFlag

false

Trading Symbol

dei_TradingSymbol

nlft

Document Creation Date

dei_DocumentCreationDate

May 30, 2013

Document Effective Date

dei_DocumentEffectiveDate

May 30, 2013

Prospectus Date

rr_ProspectusDate

May 30, 2013

Discretionary Managed Futures Strategy Fund

Prospectus [Line Items]

rr_ProspectusLineItems

Risk/Return [Heading]

rr_RiskReturnHeading

Discretionary Managed Futures Strategy Fund

Objective [Heading]

rr_ObjectiveHeading

Investment Objective

Objective, Primary [Text Block]

rr_ObjectivePrimaryTextBlock

The Fund seeks positive absolute returns.

Expense [Heading]

rr_ExpenseHeading

Fees and Expenses of the Fund:

Expense Narrative [Text Block]

rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on purchases of Fund shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 21 of the Fund’s Prospectus.

Shareholder Fees Caption [Text]

rr_ShareholderFeesCaption

Shareholder Fees (fees paid directly from your investment)

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)

Fee Waiver or Reimbursement over Assets, Date of Termination

rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination

2014-07-31

Portfolio Turnover [Heading]

rr_PortfolioTurnoverHeading

Portfolio Turnover:

Portfolio Turnover [Text Block]

rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance.

Expense Breakpoint Discounts [Text]

rr_ExpenseBreakpointDiscounts

You may qualify for sales charge discounts on purchases of Fund shares if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund.

Expense Breakpoint, Minimum Investment Required [Amount]

rr_ExpenseBreakpointMinimumInvestmentRequiredAmount

50,000

Other Expenses, New Fund, Based on Estimates [Text]

rr_OtherExpensesNewFundBasedOnEstimates

Other Expenses are based on estimated amounts for the current fiscal year.

Acquired Fund Fees and Expenses, Based on Estimates [Text]

rr_AcquiredFundFeesAndExpensesBasedOnEstimates

Acquired Fund Fees and Expenses are the estimated indirect costs of investing in other investment companies and do not include the cost of investing in underlying funds, like commodity pools, that are not investment companies.

Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text]

rr_ExpensesNotCorrelatedToRatioDueToAcquiredFundFees

The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.

Expense Example [Heading]

rr_ExpenseExampleHeading

Example:

Expense Example Narrative [Text Block]

rr_ExpenseExampleNarrativeTextBlock

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Expense Example by, Year, Caption [Text]

rr_ExpenseExampleByYearCaption

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:

Strategy [Heading]

rr_StrategyHeading

Principal Investment Strategies:

Strategy Narrative [Text Block]

rr_StrategyNarrativeTextBlock

The Fund seeks to achieve its investment objective by using two principal strategies:

• “Managed Futures” Strategy

• “Fixed Income” Strategy

The Managed Futures strategy is designed to capture returns related to the commodity and financial futures markets by investing primarily in securities of limited partnerships, corporations, limited liability companies (including individual share classes therein) and other types of pooled investment vehicles (collectively, “Underlying Pools”). Each Underlying Pool invests according to a managed futures sub-strategy that takes long and short positions in one or a combination of (i) options, (ii) futures, (iii) forwards or (iv) spot contracts, each of which may be tied to (i) commodities, (ii) financial indices and instruments, (iii) foreign currencies, or (iv) equity indices. Managed futures sub-strategies may include investment styles such as (i) discretionary macro investing based on economic fundamentals and value and (ii) specialized approaches to specific or individual market sectors such as financials, equities, currencies, metals, agricultural and soft commodities. While not expected to be the primary investment style, the managed futures sub-strategies may also include some systematic trading. When Underlying Pools use leverage, the Fund will experience more volatility. Managed Futures strategy investments will be made without restriction as to issuer capitalization, country, or currency, which may include exposure to foreign futures markets.

The Fund executes its Managed Futures strategy, primarily, by investing up to 25% of its total assets in a wholly-owned and controlled subsidiary (the “Subsidiary”); however, the Fund may also make Managed Futures investments outside of the Subsidiary. The Subsidiary invests the majority of its assets in Underlying Pools; however, the Subsidiary may also make investments outside of the Underlying Pools including foreign currency transactions and futures on foreign currencies transactions. The Subsidiary is subject to the same investment restrictions as the Fund, when viewed on a consolidated basis. The Fund’s adviser anticipates allocating approximately 25% of Fund assets to the Managed Futures strategy and approximately 75% to the Fixed Income strategy. However, as market conditions change, ranges may change.

The Fixed Income strategy is designed to generate interest income and capital appreciation with the objective to diversify the returns under the Managed Futures strategy. The Fixed Income strategy will invest in a variety of investment grade, domestic fixed income securities. The Fixed Income strategy’s portfolio will maintain an average maturity that ranges between short-term (less than 1 year) and intermediate-term (4-7 years). The Fixed Income strategy will invest in investment grade securities, which the Fund defines as those that are rated, at the time purchased, in the top four categories by a rating agency such as Moody’s Investors Service, Inc. (“Moody’s”) or Standard & Poor’s Ratings Group (“S & P”), or, if, unrated determined to be of comparable quality.

The Fund’s adviser delegates management of the Fund’s Fixed Income strategy portfolio to a sub-adviser.

Risk [Heading]

rr_RiskHeading

Principal Investment Risks:

Risk Narrative [Text Block]

rr_RiskNarrativeTextBlock

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund is not intended to be a complete investment program. Many factors affect the Fund’s net asset value and performance.

The following risks apply to the Fund’s direct investment in securities as well the Fund’s indirect risks through investing in Underlying Pools and the Subsidiary.

• Commodity Risk: Investing in the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Commodity prices may be influenced by unfavorable weather, animal and plant disease, geologic and environmental factors as well as changes in government regulation such as tariffs, embargoes or burdensome production rules and restrictions.

• Credit Risk: There is a risk that issuers and counterparties will not make payments on securities and other investments held by the Fund, resulting in losses to the Fund. In addition, the credit quality of securities held by the Fund may be lowered if an issuer’s financial condition changes.

• Derivatives Risk: The Fund’s use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities including leverage risk and counterparty default risk.

• Fixed Income Risk: Typically, a rise in interest rates causes a decline in the value of fixed income securities. The value of fixed income securities typically falls when an issuer’s credit quality declines and may even become worthless if an issuer defaults.

• Foreign Currency Risk: Currency trading risks include market risk, credit risk and country risk. Market risk results from adverse changes in exchange rates in the currencies the Fund is long or short. Credit risk results because a currency-trade counterparty may default. Country risk arises because a government may interfere with transactions in its currency.

• Foreign Investment Risk: Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards. Investing in emerging markets imposes risks different from, or greater than, risks of investing in foreign developed countries.

• Issuer-Specific Risk: The value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.

• Leverage Risk: Using derivatives to increase the Fund’s combined long and short exposure creates leverage, which can magnify the Fund’s potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund’s share price.

• Limited History of Operations: The Fund is a new mutual fund and has a limited history of operation.

• Liquidity Risk: Liquidity risk exists when particular investments of the Fund would be difficult to purchase or sell, possibly preventing the Fund from selling such illiquid securities at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable times or prices in order to satisfy its obligations.

• Management Risk: The adviser’s and sub-adviser’s judgments about the attractiveness, value and potential appreciation of particular asset classes and securities in which the Fund invests may prove to be incorrect and may not produce the desired results. Additionally, the adviser’s judgments about the potential performance of the sub-adviser may also prove incorrect and may not produce the desired results.

• Market Risk: Overall securities and derivatives market risks may affect the value of individual instruments in which the Fund invests. Factors such as domestic and foreign economic growth and market conditions, interest rate levels, and political events affect the securities and derivatives markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

• New Adviser Risk: The adviser is a newly created investment adviser and has not previously managed a mutual fund.

• Non-Diversification Risk: As a non-diversified fund, the Fund may invest more than 5% of its total assets in the securities of one or more issuers. The Fund’s performance may be more sensitive to any single economic, business, political or regulatory occurrence than the value of shares of a diversified investment company.

• Taxation Risk: By investing in commodities indirectly through the Subsidiary, the Fund will obtain exposure to the commodities markets within the federal tax requirements that apply to the Fund. However, because the Subsidiary is a controlled foreign corporation, any income received from its investments in the Underlying Pools will be passed through to the Fund as ordinary income, which may be taxed at less favorable rates than capital gains.

• Underlying Pool Risk: Underlying Pools are subject to investment advisory and other expenses, which will be indirectly paid by the Fund as an investor in Underlying Pools. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in an Underlying Pool and may be higher than other mutual funds that invest directly in stocks and bonds. The Underlying Pools will pay management fees, brokerage commissions, and operating expenses as well as performance based fees to each Underlying Pool manager. Those performance based fees will be paid by the Underlying Pool to each manager without regard to the performance of other Underlying Pools (notwithstanding that a single manager may be employed by two or more Underlying Pools) and the Fund’s overall profitability. Underlying Pools are subject to specific risks, depending on the nature of the fund. There is no guarantee that any of the trading strategies used by the managers retained by an Underlying Pool will be profitable or avoid losses.

• Wholly-Owned Subsidiary Risk: The Subsidiary will not be registered under the Investment Company Act of 1940 (“1940 Act”) and, unless otherwise noted in this Prospectus, will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands, under which the Fund and the Subsidiary, respectively, are organized, could result in the inability of the Fund and/or Subsidiary to operate as described in this Prospectus and could negatively affect the Fund and its shareholders. Your cost of investing in the Fund will be higher because you indirectly bear the expenses of the Subsidiary.

Risk Lose Money [Text]

rr_RiskLoseMoney

As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.

Risk Nondiversified Status [Text]

rr_RiskNondiversifiedStatus

As a non-diversified fund, the Fund may invest more than 5% of its total assets in the securities of one or more issuers. The Fund’s performance may be more sensitive to any single economic, business, political or regulatory occurrence than the value of shares of a diversified investment company.

Bar Chart and Performance Table [Heading]

rr_BarChartAndPerformanceTableHeading

Performance:

Performance Narrative [Text Block]

rr_PerformanceNarrativeTextBlock

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time. In the future, performance information will be presented in this section of this Prospectus. Updated performance information will be available at no cost by calling 1-888-985-9750.

Performance One Year or Less [Text]

rr_PerformanceOneYearOrLess

Because the Fund has less than a full calendar year of investment operations, no performance information is presented for the Fund at this time.

Performance Availability Phone [Text]

rr_PerformanceAvailabilityPhone

1-888-985-9750

Discretionary Managed Futures Strategy Fund | Discretionary Managed Futures Strategy Fund

Prospectus [Line Items]

rr_ProspectusLineItems

Trading Symbol

dei_TradingSymbol

FUTEX

Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price)

rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice

5.75%

Maximum Deferred Sales Charge (as a percentage of Offering Price)

rr_MaximumDeferredSalesChargeOverOfferingPrice

1.00%

Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage)

rr_MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther

none

Redemption Fee (as a percentage of Amount Redeemed)

rr_RedemptionFeeOverRedemption

(1.00%)

Management Fees (as a percentage of Assets)

rr_ManagementFeesOverAssets

1.75%

Distribution and Service (12b-1) Fees

rr_DistributionAndService12b1FeesOverAssets

0.25%

Other Expenses (as a percentage of Assets):

rr_OtherExpensesOverAssets

0.70%

^[1]

Acquired Fund Fees and Expenses

rr_AcquiredFundFeesAndExpensesOverAssets

0.02%

^[2]

Expenses (as a percentage of Assets)

rr_ExpensesOverAssets

2.72%

Fee Waiver or Reimbursement

rr_FeeWaiverOrReimbursementOverAssets

(0.11%)

^[3]

Net Expenses (as a percentage of Assets)

rr_NetExpensesOverAssets

2.61%

Expense Example, with Redemption, 1 Year

rr_ExpenseExampleYear01

824

Expense Example, with Redemption, 3 Years

rr_ExpenseExampleYear03

1,361

[1]	Other Expenses are based on estimated amounts for the current fiscal year. Other Expenses do not include the cost of investing in underlying funds, like commodity pools, that are not investment companies. The Fund estimates that underlying fund expenses, if presented, would be 1.50%. This estimate does not include performance-based fees, which cannot be meaningfully estimated. but are expected to be between 20% and 30%. The expenses of the Fund's wholly-owned subsidiary are consolidated with those of the Fund and are not presented as a separate expense.
[2]	Acquired Fund Fees and Expenses are the estimated indirect costs of investing in other investment companies and do not include the cost of investing in underlying funds, like commodity pools, that are not investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.
[3]	The Fund's adviser has contractually agreed to reduce its fees and to reimburse expenses, at least until July 31, 2014, to ensure that total annual Fund operating expenses after fee waiver and reimbursement (exclusive of any taxes, short selling expenses, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, indirect expenses, expenses of other investment companies in which the Fund may invest including Underlying Pools, or extraordinary expenses such as litigation) will not exceed 2.59% of average daily net assets attributable to Class A shares of the Fund. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund in future years on a rolling three year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the foregoing expense limits. This agreement may be terminated only by the Fund's Board of Trustees, on 60 days written notice to the Fund's adviser.

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Discretionary Managed Futures Strategy Fund

Discretionary Managed Futures Strategy Fund

Investment Objective

The Fund seeks positive absolute returns.

Fees and Expenses of the Fund:

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees	Discretionary Managed Futures Strategy Fund
Maximum Sales Charge (Load) Imposed on Purchases (as a % of offering price)	5.75%
Maximum Deferred Sales Charge (Load) (as a % of original purchase price)	1.00%
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions	none
Redemption Fee (as a % of amount redeemed, if sold within 90 days)	1.00%

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses		Discretionary Managed Futures Strategy Fund
Management Fees		1.75%
Distribution and/or Service (12b-1) Fees		0.25%
Other Expenses	^[1]	0.70%
Acquired Fund Fees and Expenses	^[2]	0.02%
Total Annual Fund Operating Expenses		2.72%
Fee Waiver and Reimbursement	^[3]	(0.11%)
Total Annual Fund Operating Expenses After Fee Waiver and Reimbursement		2.61%

[1]	Other Expenses are based on estimated amounts for the current fiscal year. Other Expenses do not include the cost of investing in underlying funds, like commodity pools, that are not investment companies. The Fund estimates that underlying fund expenses, if presented, would be 1.50%. This estimate does not include performance-based fees, which cannot be meaningfully estimated. but are expected to be between 20% and 30%. The expenses of the Fund's wholly-owned subsidiary are consolidated with those of the Fund and are not presented as a separate expense.
[2]	Acquired Fund Fees and Expenses are the estimated indirect costs of investing in other investment companies and do not include the cost of investing in underlying funds, like commodity pools, that are not investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund's financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.
[3]	The Fund's adviser has contractually agreed to reduce its fees and to reimburse expenses, at least until July 31, 2014, to ensure that total annual Fund operating expenses after fee waiver and reimbursement (exclusive of any taxes, short selling expenses, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, indirect expenses, expenses of other investment companies in which the Fund may invest including Underlying Pools, or extraordinary expenses such as litigation) will not exceed 2.59% of average daily net assets attributable to Class A shares of the Fund. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund in future years on a rolling three year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the foregoing expense limits. This agreement may be terminated only by the Fund's Board of Trustees, on 60 days written notice to the Fund's adviser.

Example:

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

Expense Example (USD $)	1 Year	3 Years
Discretionary Managed Futures Strategy Fund	824	1,361

Portfolio Turnover:

Principal Investment Strategies:

The Fund seeks to achieve its investment objective by using two principal strategies:

• “Managed Futures” Strategy

• “Fixed Income” Strategy

The Fund’s adviser delegates management of the Fund’s Fixed Income strategy portfolio to a sub-adviser.

Principal Investment Risks:

The following risks apply to the Fund’s direct investment in securities as well the Fund’s indirect risks through investing in Underlying Pools and the Subsidiary.

• Limited History of Operations: The Fund is a new mutual fund and has a limited history of operation.

• New Adviser Risk: The adviser is a newly created investment adviser and has not previously managed a mutual fund.

Performance: