0001580642-18-005715.txt : 20181130 0001580642-18-005715.hdr.sgml : 20181130 20181130163649 ACCESSION NUMBER: 0001580642-18-005715 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 13 FILED AS OF DATE: 20181130 DATE AS OF CHANGE: 20181130 EFFECTIVENESS DATE: 20181130 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: 181211587 BUSINESS ADDRESS: STREET 1: 17605 WRIGHT STREET CITY: OMAHA STATE: NE ZIP: 68130 BUSINESS PHONE: 631-470-2621 MAIL ADDRESS: STREET 1: 17605 WRIGHT STREET CITY: OMAHA STATE: NE ZIP: 68130 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: 181211586 BUSINESS ADDRESS: STREET 1: 17605 WRIGHT STREET CITY: OMAHA STATE: NE ZIP: 68130 BUSINESS PHONE: 631-470-2621 MAIL ADDRESS: STREET 1: 17605 WRIGHT STREET CITY: OMAHA STATE: NE ZIP: 68130 0001537140 S000063530 Pinnacle Dynamic Growth Fund C000205834 Pinnacle Dynamic Growth Fund Class C C000205835 Pinnacle Dynamic Growth Fund Class A C000205836 Pinnacle Dynamic Growth Fund Class I 485BPOS 1 pinnaclegrowth_485bx94.htm 485BPOS

Securities Act Registration No. 333-178833

Investment Company Act Registration No. 811-22655

 

As filed with the Securities and Exchange Commission on November 30, 2018

 

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. 370

 

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 ý

ý Amendment No. 373

 

(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, Esq.

Thompson Hine LLP

41 South High Street, Suite 1700

Columbus, Ohio 43215

614-469-3265 (phone)

614-469-3361 (fax)

Richard Malinowski

Gemini Fund Services, LLC

80 Arkay Drive, Suite 110

Hauppauge, New York 11788

(631) 470-2600

 

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 Pinnacle Dynamic Growth Fund, a series of the Trust.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Act of 1933, as amended, and the 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 registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of Hauppauge, and State of New York, on the 30th day of November, 2018.

 

Northern Lights Fund Trust III

 

By: /s/ Richard Malinowski*

Richard Malinowski, President

 

Pursuant to the requirements of the Securities Act, this registration statement has been signed below by the following persons in the capacities indicated on the dates indicated.

 

Northern Lights Fund Trust III

Name  
/s/ Richard Malinowski President
Brian Curley* Treasurer
James U. Jensen* Independent Trustee
Patricia Luscombe* Independent Trustee
John V. Palancia* Independent Trustee
Mark H. Taylor* Independent Trustee
Jeffery D. Young* Independent Trustee

 

*By: Date:

/s/ Eric D. Kane. November 30, 2018

Eric D. Kane, Esq.

 

*Attorney-in-Fact – Pursuant to Powers of Attorney as previously filed February 26, 2015 and June 17, 2016.

 

 
 

 

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-20181116.xml XBRL INSTANCE FILE 0001537140 2018-11-16 2018-11-16 0001537140 nlft:S000063530Member 2018-11-16 2018-11-16 0001537140 nlft:S000063530Member nlft:C000205835Member 2018-11-16 2018-11-16 0001537140 nlft:S000063530Member nlft:C000205834Member 2018-11-16 2018-11-16 0001537140 nlft:S000063530Member nlft:C000205836Member 2018-11-16 2018-11-16 iso4217:USD xbrli:pure 485BPOS 2018-09-30 NORTHERN LIGHTS FUND TRUST III 0001537140 false nlft PADGX PCDGX PIDGX 2018-11-16 2018-11-16 2018-11-16 <p style="margin: 0px; font-size: 14pt"><b>PINNACLE DYNAMIC GROWTH FUND SUMMARY</b></p> <p style="margin: 0px"><b>Investment Objective:</b></p> <p style="margin: 0px">The Pinnacle Dynamic Growth Fund (the &#8220;Fund&#8221;) seeks long term capital appreciation with reasonable risk.</p> <p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p> <p style="margin: 0px">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 Class A shares if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund. More information about these and other discounts is available from your financial professional and in <b>How to Purchase Shares</b> on page <b>11</b> of the Fund&#8217;s Prospectus.</p> <p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p> <p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p> <p style="margin: 0px"><b><i>Example:</i></b></p> <p style="margin: 0px">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 numbers reflected herein include the expense caps through the first year only.</p> <p style="margin: 0px">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&#8217;s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:</p> <p style="margin: 0px"><b><i>Portfolio Turnover:</i></b></p> <p style="margin: 0px">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; 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&#8217;s performance.</p> <p style="margin: 0px"><b>Principal Investment Strategies:</b></p> <p style="margin: 0px">The Fund intends to operate as a fund of funds and seeks to meet its investment objective by investing, under normal market conditions in exchange traded funds (&#8220;ETFs&#8221;) that may invest in various asset classes including, but not limited to, foreign and domestic (i) equity securities of all market capitalizations, (ii) high yield bonds, floating and fixed rate corporate bonds, asset backed securities, U.S. government bonds and notes, mortgage backed securities, U.S. and non-U.S. government, corporate, and/or convertible bonds and preferred stocks, (iii) commodities (e.g., gold and securities of mining companies), and (iv) real estate investment trusts (&#8220;REITs&#8221;). The Fund considers ETFs from all the aforementioned asset classes, and may invest up to 100% of the Fund&#8217;s assets in any one asset class or cash. The Fund intends to generally invest in a mix of asset classes with an emphasis on equity and fixed income securities, but may invest up to 100% of the Fund&#8217;s assets in any asset class or cash. The equity ETFs in which the Fund invests may include inverse ETFs. The Fund may also invest in cash and cash equivalents directly. The foreign securities held by the underlying ETFs may include those in emerging markets.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px">The Adviser actively manages the Fund&#8217;s dynamic growth strategy using a model provided by Dynamic Portfolio Strategies. The Adviser will score ETFs on a daily basis based on a combination of each ETF&#8217;s short-term (30 days or less) and intermediate term (120-200 days) momentum. The Adviser will select the top 8 scoring ETFs for the &#8220;recommended portfolio&#8221; for the day. If the total score of the &#8220;recommended portfolio&#8221; exceeds the score of the existing portfolio by the model&#8217;s proprietary statistically relevant amount, the Fund will adopt the &#8220;recommended portfolio.&#8221; Otherwise, the Fund&#8217;s investments will remain intact. The Adviser may engage in frequent trading of the Fund&#8217;s portfolio securities pursuant to its ETF scoring strategy.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px">The Fund may also invest in volatility exchange traded notes (&#8220;ETNs&#8221;) for hedging purposes. 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An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance corporation or any other government agency.</i></p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Asset Backed Securities Risk:</i> When the Fund invests in asset-backed securities, including mortgage-backed securities and collateralized mortgage obligations, the Fund is subject to the risk that, if the issuer fails to pay interest or repay principal, the assets backing these securities may not be sufficient to support payments on the securities.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Commodity Risk:</i> Commodities markets may subject to greater volatility than 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.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Credit Risk:</i> Issuers may not make interest or principal payments on securities, resulting in losses to the Fund. In addition, the credit quality of securities held by the Fund may be lowered if an issuer&#8217;s financial condition changes. These risks are more pronounced for securities with lower credit quality, such as those rated below BBB- by Standard &#38; Poor&#8217;s Ratings Group or another credit rating agency.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Emerging Market Risk:</i> Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems with fewer security holder rights. Emerging market economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to default. Emerging market securities also tend to be less liquid.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Equity Risk:</i> Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>ETF Risk:</i> ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in securities. Each ETF is subject to specific risks, depending on its investments.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>ETN Risk:</i> Similar to ETFs, owning an ETN generally reflects the risks of owning the assets that comprise the underlying market benchmark or strategy that the ETN is designed to reflect. ETNs also are subject to issuer and fixed-income risk. In addition, ETNs are subject to counterparty risk, which is the risk that the broker-dealer or bank that issues the notes will not fulfill its contractual obligation to complete the transaction with the Fund. ETNs constitute general unsecured contractual obligations of the banks or broker-dealers that issue them, and the Fund is relying on the creditworthiness of such banks or broker-dealers.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Fixed Income Risk:</i> 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&#8217;s credit quality declines and may even become worthless if an issuer defaults. Recently, interest rates have been historically low. Current conditions may result in a rise in interest rates, which in turn may result in a decline in the value of the bond investments held by the Fund. As a result, for the present, interest rate risk may be heightened.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Floating Rate Risk:</i> Changes in short-term market interest rates will directly affect the yield on the Fund&#8217;s investments in floating rate debt. If short-term market interest rates fall, the yield on the Fund&#8217;s shares will also fall. Conversely, when short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt in the Fund&#8217;s portfolio, the impact of rising rates will be delayed to the extent of such lag.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Foreign Investment Risk:</i> Foreign investing (including through American Depositary Receipts (&#8220;ADRs&#8221;), European Depositary Receipts (&#8220;EDRs&#8221;) and Global Depositary Receipts (&#8220;GDRs&#8221;)) 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 different or greater risks than those associated with foreign developed countries.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Gold Risk:</i> The price of gold may be volatile, and gold-related ETFs and gold stocks may be highly sensitive to the price of gold. The price of gold can be significantly affected by international monetary and political developments such as currency devaluation or revaluation, central bank movements, economic and social conditions within a country, transactional or trade imbalances, or trade or currency restrictions between countries.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Hedging Risk:</i> Hedging is a strategy in which the Fund uses an instrument to offset the risks associated with other Fund holdings. There can be no assurance that the Fund's hedging strategy will reduce risk or that hedging transactions will be either available or cost effective. The Fund is not required to use hedging and may choose not to do so.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>High Yield (Junk) Bond Risk:</i> Lower-quality fixed income securities, known as &#8220;high yield&#8221; or &#8220;junk&#8221; bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund&#8217;s ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund&#8217;s share price.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Inverse ETF Risk:</i> Investments in inverse ETFs will prevent the Fund from participating in market-wide or sector-wide gains and may not prove to be an effective hedge. During periods of increased volatility, inverse ETFs may not perform in the manner they are designed.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Issuer-Specific Risk:</i> 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.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Large Capitalization Risk:</i> Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large-capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Management Risk:</i> The Adviser&#8217;s judgment 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.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Market Risk:</i> Overall securities 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 markets. When the value of the Fund&#8217;s investments goes down, your investment in the Fund decreases in value and you could lose money.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Model Risk:</i> Like all quantitative analysis, the investment model carries a risk that the model might be based on one or more incorrect assumptions or may not perform as expected.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Mortgage Backed Securities Risk:</i> Mortgage-backed securities represent participating interests in pools of residential mortgage loans, some of which are guaranteed by the U.S. government, its agencies or instrumentalities. However, the guarantee of these types of securities relates to the principal and interest payments and not the market value of such securities. In addition, the guarantee only relates to the mortgage-backed securities held by the Fund and not the purchase of shares of the Fund.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Portfolio Turnover Risk:</i> A higher portfolio turnover will result in higher transactional and brokerage costs. Active trading of securities may also increase the Fund&#8217;s realized capital gains and related distributions, some of which may be taxed at less favorable ordinary income rates which may affect the taxes Fund shareholders pay.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Real Estate Investment Risk:</i> ETFs that invest in real estate are subject to the risks associated with investing in real estate. The value of these securities will rise and fall in response to many factors, including economic conditions, the demand for rental property and changes in interest rates.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Sector Risk:</i> The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may occur that significantly affect the entire sector. This may cause the Fund&#8217;s net asset value to fluctuate more than that of a fund that does not focus in a particular sector.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Small and Medium Capitalization Risk:</i> The value of small or medium capitalization companies may be subject to more abrupt or erratic market movements than those of larger, more established companies or the market averages in general.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>Sovereign Debt Risk:</i> The issuer of the foreign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default. The market prices of sovereign debt, and the Fund&#8217;s NAV, may be more volatile than prices of U.S. debt obligations and certain emerging markets may encounter difficulties in servicing their debt obligations.</p> <p style="margin: 0px">&#160;</p> <p style="margin: 0px 0px 0px 20pt; text-indent: -6pt">&#8226; <i>U.S. Government Obligations Risk:</i> U.S. Treasury obligations are backed by the &#8220;full faith and credit&#8221; of the U.S. government and generally have negligible credit risk. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. 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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. 2021-01-31 As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance corporation or any other government agency. Because the Fund has only recently commenced investment operations, no performance information is presented for the Fund at this time. www.pinnacletacticalfunds.com 1-888-985-9830 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, Pinnacle Family Advisors, LLC (the "Adviser"), has contractually agreed to waive management fees and to make payments to limit Fund expenses, until the later of January 31, 2021 or one year from the Fund's effective date, so that the total annual operating expenses (excluding (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions; (iii) acquired fund fees and expenses; (iv) borrowing costs (such as interest and dividend expense on securities sold short), (v) taxes; and (vi) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual indemnification of Fund service providers (other than the Adviser))) of the Fund do not exceed 1.49%, 2.24% and 1.24% of average daily net assets attributable to Class A, C and I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years after the fees have been waived or reimbursed if such recoupment can be achieved, within the foregoing expense limits or within the expense limits in place at the time of recoupment, whichever is lower. This agreement may be terminated only by the Board of Trustees, on 60 days' written notice to the Adviser. 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nlft-20181116_cal.xml XBRL CALCULATION FILE EX-101.DEF 5 nlft-20181116_def.xml XBRL DEFINITION FILE EX-101.LAB 6 nlft-20181116_lab.xml XBRL LABEL FILE Legal Entity [Axis] Pinnacle Dynamic Growth Fund Share Class [Axis] Class A Class C Class I 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] 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 Expenses (as a percentage of Assets) Fee Waiver or Reimbursement Net Expenses (as a percentage of Assets) Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Portfolio Turnover, Rate Expense Footnotes [Text Block] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Expense Example [Heading] Expense Example by Year [Heading] Expense Example Narrative [Text 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 Block] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart [Heading] Bar Chart Narrative [Text Block] Bar Chart Does Not Reflect Sales Loads [Text] Annual Return Caption [Text] Annual Return, Column [Text] Annual Return, Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 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 from Immediately Preceding Period [Text] Performance Table Footnotes Performance Table Closing [Text Block] Caption Column Label 1 Year 5 Years 10 Years Since Inception Inception Date Money Market Seven Day Yield, Caption [Text] Money Market Seven Day Yield Column [Text] Money Market Seven Day Yield Phone Money Market Seven Day Yield Money Market Seven Day Tax Equivalent Yield Thirty Day Yield Caption Thirty Day Yield Column [Text] Thirty Day Yield Phone Thirty Day Yield Thirty Day Tax Equivalent Yield Shareholder Fees [Table] Annual Fund Operating Expenses [Table] Expense Example, With Redemption [Table] Expense Example, No Redemption [Table] Bar Chart [Table] Performance [Table] Market Index Performance [Table] Maximum Sales Charge (Load) Imposed on purchases (as a percentage of offering price) Maximum Deferred Sales Charge (Load) (as a percentage of purchase price) Redemption Fee (as a % of amount redeemed if held less than 60 days) Management Fees Other Expenses Total Annual Fund Operating Expenses Fee Waiver Total Annual Fund Operating Expenses After Fee Waiver Expense Example, By Year, Column [Text] 1 Year 3 Years 5 Years 10 Years Expense Example, No Redemption: Expense Example, No Redemption, By Year, Column [Text] Bar Chart Table: Average Annual Return: Risk/Return: Risk/Return Detail [Table] Pinnacle Dynamic Growth Fund Pinnacle Dynamic Growth Fund Class A Pinnacle Dynamic Growth Fund Class C Pinnacle Dynamic Growth Fund Class I EX-101.PRE 7 nlft-20181116_pre.xml XBRL PRESENTATION FILE XML 8 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Pinnacle Dynamic Growth Fund
<p style="margin: 0px; font-size: 14pt"><b>PINNACLE DYNAMIC GROWTH FUND SUMMARY</b></p>
<p style="margin: 0px"><b>Investment Objective:</b></p>

The Pinnacle Dynamic Growth Fund (the “Fund”) seeks long term capital appreciation with reasonable risk.

<p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>

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 Class A shares if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 11 of the Fund’s Prospectus.

<p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>
Shareholder Fees - Pinnacle Dynamic Growth Fund
Class A
Class C
Class I
Maximum Sales Charge (Load) Imposed on purchases (as a percentage of offering price) 5.75% none none
Maximum Deferred Sales Charge (Load) (as a percentage of purchase price) none none none
Redemption Fee (as a % of amount redeemed if held less than 60 days) 1.00% 1.00% 1.00%
<p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>
Annual Fund Operating Expenses - Pinnacle Dynamic Growth Fund
Class A
Class C
Class I
Management Fees 1.00% 1.00% 1.00%
Distribution and Service (12b-1) Fees 0.25% 1.00% none
Other Expenses 0.91% 0.91% 0.91%
Acquired Fund Fees and Expenses [1] 0.67% 0.67% 0.67%
Total Annual Fund Operating Expenses 2.83% 3.58% 2.58%
Fee Waiver [2] (0.67%) (0.67%) (0.67%)
Total Annual Fund Operating Expenses After Fee Waiver 2.16% 2.91% 1.91%
[1] 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.
[2] The Fund's adviser, Pinnacle Family Advisors, LLC (the "Adviser"), has contractually agreed to waive management fees and to make payments to limit Fund expenses, until the later of January 31, 2021 or one year from the Fund's effective date, so that the total annual operating expenses (excluding (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions; (iii) acquired fund fees and expenses; (iv) borrowing costs (such as interest and dividend expense on securities sold short), (v) taxes; and (vi) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual indemnification of Fund service providers (other than the Adviser))) of the Fund do not exceed 1.49%, 2.24% and 1.24% of average daily net assets attributable to Class A, C and I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years after the fees have been waived or reimbursed if such recoupment can be achieved, within the foregoing expense limits or within the expense limits in place at the time of recoupment, whichever is lower. This agreement may be terminated only by the Board of Trustees, on 60 days' written notice to the Adviser.
<p style="margin: 0px"><b><i>Example:</i></b></p>

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 numbers reflected herein include the expense caps through the first year only.

<p style="margin: 0px">The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:</p>
Expense Example - Pinnacle Dynamic Growth Fund - USD ($)
1 Year
3 Years
Class A 781 1,342
Class C 294 1,035
Class I 194 739
<p style="margin: 0px"><b><i>Portfolio Turnover:</i></b></p>

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.

<p style="margin: 0px"><b>Principal Investment Strategies:</b></p>

The Fund intends to operate as a fund of funds and seeks to meet its investment objective by investing, under normal market conditions in exchange traded funds (“ETFs”) that may invest in various asset classes including, but not limited to, foreign and domestic (i) equity securities of all market capitalizations, (ii) high yield bonds, floating and fixed rate corporate bonds, asset backed securities, U.S. government bonds and notes, mortgage backed securities, U.S. and non-U.S. government, corporate, and/or convertible bonds and preferred stocks, (iii) commodities (e.g., gold and securities of mining companies), and (iv) real estate investment trusts (“REITs”). The Fund considers ETFs from all the aforementioned asset classes, and may invest up to 100% of the Fund’s assets in any one asset class or cash. The Fund intends to generally invest in a mix of asset classes with an emphasis on equity and fixed income securities, but may invest up to 100% of the Fund’s assets in any asset class or cash. The equity ETFs in which the Fund invests may include inverse ETFs. The Fund may also invest in cash and cash equivalents directly. The foreign securities held by the underlying ETFs may include those in emerging markets.

 

The Adviser actively manages the Fund’s dynamic growth strategy using a model provided by Dynamic Portfolio Strategies. The Adviser will score ETFs on a daily basis based on a combination of each ETF’s short-term (30 days or less) and intermediate term (120-200 days) momentum. The Adviser will select the top 8 scoring ETFs for the “recommended portfolio” for the day. If the total score of the “recommended portfolio” exceeds the score of the existing portfolio by the model’s proprietary statistically relevant amount, the Fund will adopt the “recommended portfolio.” Otherwise, the Fund’s investments will remain intact. The Adviser may engage in frequent trading of the Fund’s portfolio securities pursuant to its ETF scoring strategy.

 

The Fund may also invest in volatility exchange traded notes (“ETNs”) for hedging purposes. No more than 20% of the Fund’s assets will be invested in ETNs for hedging purposes and any investment will be short term (typically less than 20 days).

<p style="margin: 0px"><b>Principal Investment Risks:</b></p>

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 (“NAV”) and performance. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance corporation or any other government agency.

 

Asset Backed Securities Risk: When the Fund invests in asset-backed securities, including mortgage-backed securities and collateralized mortgage obligations, the Fund is subject to the risk that, if the issuer fails to pay interest or repay principal, the assets backing these securities may not be sufficient to support payments on the securities.

 

Commodity Risk: Commodities markets may subject to greater volatility than 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: Issuers may not make interest or principal payments on securities, 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. These risks are more pronounced for securities with lower credit quality, such as those rated below BBB- by Standard & Poor’s Ratings Group or another credit rating agency.

 

Emerging Market Risk: Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems with fewer security holder rights. Emerging market economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to default. Emerging market securities also tend to be less liquid.

 

Equity Risk: Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions.

 

ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in securities. Each ETF is subject to specific risks, depending on its investments.

 

ETN Risk: Similar to ETFs, owning an ETN generally reflects the risks of owning the assets that comprise the underlying market benchmark or strategy that the ETN is designed to reflect. ETNs also are subject to issuer and fixed-income risk. In addition, ETNs are subject to counterparty risk, which is the risk that the broker-dealer or bank that issues the notes will not fulfill its contractual obligation to complete the transaction with the Fund. ETNs constitute general unsecured contractual obligations of the banks or broker-dealers that issue them, and the Fund is relying on the creditworthiness of such banks or broker-dealers.

 

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. Recently, interest rates have been historically low. Current conditions may result in a rise in interest rates, which in turn may result in a decline in the value of the bond investments held by the Fund. As a result, for the present, interest rate risk may be heightened.

 

Floating Rate Risk: Changes in short-term market interest rates will directly affect the yield on the Fund’s investments in floating rate debt. If short-term market interest rates fall, the yield on the Fund’s shares will also fall. Conversely, when short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt in the Fund’s portfolio, the impact of rising rates will be delayed to the extent of such lag.

 

Foreign Investment Risk: Foreign investing (including through American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”)) 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 different or greater risks than those associated with foreign developed countries.

 

Gold Risk: The price of gold may be volatile, and gold-related ETFs and gold stocks may be highly sensitive to the price of gold. The price of gold can be significantly affected by international monetary and political developments such as currency devaluation or revaluation, central bank movements, economic and social conditions within a country, transactional or trade imbalances, or trade or currency restrictions between countries.

 

Hedging Risk: Hedging is a strategy in which the Fund uses an instrument to offset the risks associated with other Fund holdings. There can be no assurance that the Fund's hedging strategy will reduce risk or that hedging transactions will be either available or cost effective. The Fund is not required to use hedging and may choose not to do so.

 

High Yield (Junk) Bond Risk: Lower-quality fixed income securities, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund’s ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund’s share price.

 

Inverse ETF Risk: Investments in inverse ETFs will prevent the Fund from participating in market-wide or sector-wide gains and may not prove to be an effective hedge. During periods of increased volatility, inverse ETFs may not perform in the manner they are designed.

 

Issuer-Specific Risk: 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.

 

Large Capitalization Risk: Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large-capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

 

Management Risk: The Adviser’s judgment 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.

 

Market Risk: Overall securities 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 markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

 

Model Risk: Like all quantitative analysis, the investment model carries a risk that the model might be based on one or more incorrect assumptions or may not perform as expected.

 

Mortgage Backed Securities Risk: Mortgage-backed securities represent participating interests in pools of residential mortgage loans, some of which are guaranteed by the U.S. government, its agencies or instrumentalities. However, the guarantee of these types of securities relates to the principal and interest payments and not the market value of such securities. In addition, the guarantee only relates to the mortgage-backed securities held by the Fund and not the purchase of shares of the Fund.

 

Portfolio Turnover Risk: A higher portfolio turnover will result in higher transactional and brokerage costs. Active trading of securities may also increase the Fund’s realized capital gains and related distributions, some of which may be taxed at less favorable ordinary income rates which may affect the taxes Fund shareholders pay.

 

Real Estate Investment Risk: ETFs that invest in real estate are subject to the risks associated with investing in real estate. The value of these securities will rise and fall in response to many factors, including economic conditions, the demand for rental property and changes in interest rates.

 

Sector Risk: The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may occur that significantly affect the entire sector. This may cause the Fund’s net asset value to fluctuate more than that of a fund that does not focus in a particular sector.

 

Small and Medium Capitalization Risk: The value of small or medium capitalization companies may be subject to more abrupt or erratic market movements than those of larger, more established companies or the market averages in general.

 

Sovereign Debt Risk: The issuer of the foreign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default. The market prices of sovereign debt, and the Fund’s NAV, may be more volatile than prices of U.S. debt obligations and certain emerging markets may encounter difficulties in servicing their debt obligations.

 

U.S. Government Obligations Risk: U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government and generally have negligible credit risk. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored instrumentalities or enterprises.

<p style="margin: 0px"><b>Performance:</b></p>

Because the Fund has only recently commenced 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 the Prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.pinnacletacticalfunds.com or by calling 1-888-985-9830.

XML 9 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
Label Element Value
Prospectus [Line Items] rr_ProspectusLineItems  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Sep. 30, 2018
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 Nov. 16, 2018
Document Effective Date dei_DocumentEffectiveDate Nov. 16, 2018
Prospectus Date rr_ProspectusDate Nov. 16, 2018
Pinnacle Dynamic Growth Fund  
Prospectus [Line Items] rr_ProspectusLineItems  
Risk/Return [Heading] rr_RiskReturnHeading <p style="margin: 0px; font-size: 14pt"><b>PINNACLE DYNAMIC GROWTH FUND SUMMARY</b></p>
Objective [Heading] rr_ObjectiveHeading <p style="margin: 0px"><b>Investment Objective:</b></p>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The Pinnacle Dynamic Growth Fund (the “Fund”) seeks long term capital appreciation with reasonable risk.

Expense [Heading] rr_ExpenseHeading <p style="margin: 0px"><b>Fees and Expenses of the Fund:</b></p>
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 Class A shares if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund. More information about these and other discounts is available from your financial professional and in How to Purchase Shares on page 11 of the Fund’s Prospectus.

Shareholder Fees Caption [Text] rr_ShareholderFeesCaption <p style="margin: 0px"><b>Shareholder Fees</b></p> <p style="margin: 0px"><b>(fees paid directly from your investment)</b></p>
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <p style="margin: 0px"><b>Annual Fund Operating Expenses</b></p> <p style="margin: 0px"><b>(expenses that you pay each year as a percentage of the value of your investment)</b></p>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination Jan. 31, 2021
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <p style="margin: 0px"><b><i>Portfolio Turnover:</i></b></p>
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.

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 <p style="margin: 0px"><b><i>Example:</i></b></p>
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. The numbers reflected herein include the expense caps through the first year only.

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption <p style="margin: 0px">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:</p>
Strategy [Heading] rr_StrategyHeading <p style="margin: 0px"><b>Principal Investment Strategies:</b></p>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund intends to operate as a fund of funds and seeks to meet its investment objective by investing, under normal market conditions in exchange traded funds (“ETFs”) that may invest in various asset classes including, but not limited to, foreign and domestic (i) equity securities of all market capitalizations, (ii) high yield bonds, floating and fixed rate corporate bonds, asset backed securities, U.S. government bonds and notes, mortgage backed securities, U.S. and non-U.S. government, corporate, and/or convertible bonds and preferred stocks, (iii) commodities (e.g., gold and securities of mining companies), and (iv) real estate investment trusts (“REITs”). The Fund considers ETFs from all the aforementioned asset classes, and may invest up to 100% of the Fund’s assets in any one asset class or cash. The Fund intends to generally invest in a mix of asset classes with an emphasis on equity and fixed income securities, but may invest up to 100% of the Fund’s assets in any asset class or cash. The equity ETFs in which the Fund invests may include inverse ETFs. The Fund may also invest in cash and cash equivalents directly. The foreign securities held by the underlying ETFs may include those in emerging markets.

 

The Adviser actively manages the Fund’s dynamic growth strategy using a model provided by Dynamic Portfolio Strategies. The Adviser will score ETFs on a daily basis based on a combination of each ETF’s short-term (30 days or less) and intermediate term (120-200 days) momentum. The Adviser will select the top 8 scoring ETFs for the “recommended portfolio” for the day. If the total score of the “recommended portfolio” exceeds the score of the existing portfolio by the model’s proprietary statistically relevant amount, the Fund will adopt the “recommended portfolio.” Otherwise, the Fund’s investments will remain intact. The Adviser may engage in frequent trading of the Fund’s portfolio securities pursuant to its ETF scoring strategy.

 

The Fund may also invest in volatility exchange traded notes (“ETNs”) for hedging purposes. No more than 20% of the Fund’s assets will be invested in ETNs for hedging purposes and any investment will be short term (typically less than 20 days).

Risk [Heading] rr_RiskHeading <p style="margin: 0px"><b>Principal Investment Risks:</b></p>
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 (“NAV”) and performance. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance corporation or any other government agency.

 

Asset Backed Securities Risk: When the Fund invests in asset-backed securities, including mortgage-backed securities and collateralized mortgage obligations, the Fund is subject to the risk that, if the issuer fails to pay interest or repay principal, the assets backing these securities may not be sufficient to support payments on the securities.

 

Commodity Risk: Commodities markets may subject to greater volatility than 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: Issuers may not make interest or principal payments on securities, 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. These risks are more pronounced for securities with lower credit quality, such as those rated below BBB- by Standard & Poor’s Ratings Group or another credit rating agency.

 

Emerging Market Risk: Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems with fewer security holder rights. Emerging market economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to default. Emerging market securities also tend to be less liquid.

 

Equity Risk: Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions.

 

ETF Risk: ETFs are subject to investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in securities. Each ETF is subject to specific risks, depending on its investments.

 

ETN Risk: Similar to ETFs, owning an ETN generally reflects the risks of owning the assets that comprise the underlying market benchmark or strategy that the ETN is designed to reflect. ETNs also are subject to issuer and fixed-income risk. In addition, ETNs are subject to counterparty risk, which is the risk that the broker-dealer or bank that issues the notes will not fulfill its contractual obligation to complete the transaction with the Fund. ETNs constitute general unsecured contractual obligations of the banks or broker-dealers that issue them, and the Fund is relying on the creditworthiness of such banks or broker-dealers.

 

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. Recently, interest rates have been historically low. Current conditions may result in a rise in interest rates, which in turn may result in a decline in the value of the bond investments held by the Fund. As a result, for the present, interest rate risk may be heightened.

 

Floating Rate Risk: Changes in short-term market interest rates will directly affect the yield on the Fund’s investments in floating rate debt. If short-term market interest rates fall, the yield on the Fund’s shares will also fall. Conversely, when short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt in the Fund’s portfolio, the impact of rising rates will be delayed to the extent of such lag.

 

Foreign Investment Risk: Foreign investing (including through American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”)) 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 different or greater risks than those associated with foreign developed countries.

 

Gold Risk: The price of gold may be volatile, and gold-related ETFs and gold stocks may be highly sensitive to the price of gold. The price of gold can be significantly affected by international monetary and political developments such as currency devaluation or revaluation, central bank movements, economic and social conditions within a country, transactional or trade imbalances, or trade or currency restrictions between countries.

 

Hedging Risk: Hedging is a strategy in which the Fund uses an instrument to offset the risks associated with other Fund holdings. There can be no assurance that the Fund's hedging strategy will reduce risk or that hedging transactions will be either available or cost effective. The Fund is not required to use hedging and may choose not to do so.

 

High Yield (Junk) Bond Risk: Lower-quality fixed income securities, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund’s ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund’s share price.

 

Inverse ETF Risk: Investments in inverse ETFs will prevent the Fund from participating in market-wide or sector-wide gains and may not prove to be an effective hedge. During periods of increased volatility, inverse ETFs may not perform in the manner they are designed.

 

Issuer-Specific Risk: 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.

 

Large Capitalization Risk: Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large-capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities markets.

 

Management Risk: The Adviser’s judgment 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.

 

Market Risk: Overall securities 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 markets. When the value of the Fund’s investments goes down, your investment in the Fund decreases in value and you could lose money.

 

Model Risk: Like all quantitative analysis, the investment model carries a risk that the model might be based on one or more incorrect assumptions or may not perform as expected.

 

Mortgage Backed Securities Risk: Mortgage-backed securities represent participating interests in pools of residential mortgage loans, some of which are guaranteed by the U.S. government, its agencies or instrumentalities. However, the guarantee of these types of securities relates to the principal and interest payments and not the market value of such securities. In addition, the guarantee only relates to the mortgage-backed securities held by the Fund and not the purchase of shares of the Fund.

 

Portfolio Turnover Risk: A higher portfolio turnover will result in higher transactional and brokerage costs. Active trading of securities may also increase the Fund’s realized capital gains and related distributions, some of which may be taxed at less favorable ordinary income rates which may affect the taxes Fund shareholders pay.

 

Real Estate Investment Risk: ETFs that invest in real estate are subject to the risks associated with investing in real estate. The value of these securities will rise and fall in response to many factors, including economic conditions, the demand for rental property and changes in interest rates.

 

Sector Risk: The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may occur that significantly affect the entire sector. This may cause the Fund’s net asset value to fluctuate more than that of a fund that does not focus in a particular sector.

 

Small and Medium Capitalization Risk: The value of small or medium capitalization companies may be subject to more abrupt or erratic market movements than those of larger, more established companies or the market averages in general.

 

Sovereign Debt Risk: The issuer of the foreign debt or the governmental authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default. The market prices of sovereign debt, and the Fund’s NAV, may be more volatile than prices of U.S. debt obligations and certain emerging markets may encounter difficulties in servicing their debt obligations.

 

U.S. Government Obligations Risk: U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government and generally have negligible credit risk. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored instrumentalities or enterprises.

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 Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <p style="margin: 0px"><b>Performance:</b></p>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

Because the Fund has only recently commenced 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 the Prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually. Updated performance information will be available at no cost by visiting www.pinnacletacticalfunds.com or by calling 1-888-985-9830.

Performance One Year or Less [Text] rr_PerformanceOneYearOrLess Because the Fund has only recently commenced investment operations, no performance information is presented for the Fund at this time.
Performance Availability Phone [Text] rr_PerformanceAvailabilityPhone 1-888-985-9830
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.pinnacletacticalfunds.com
Pinnacle Dynamic Growth Fund | Class A  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol PADGX
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 none
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption (1.00%)
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 0.91%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.67% [1]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 2.83%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.67%) [2]
Net Expenses (as a percentage of Assets) rr_NetExpensesOverAssets 2.16%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $25,000 in the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 25,000
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 781
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 $ 1,342
Pinnacle Dynamic Growth Fund | Class C  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol PCDGX
Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (as a percentage of Offering Price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption (1.00%)
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 0.91%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.67% [1]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 3.58%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.67%) [2]
Net Expenses (as a percentage of Assets) rr_NetExpensesOverAssets 2.91%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 294
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 $ 1,035
Pinnacle Dynamic Growth Fund | Class I  
Prospectus [Line Items] rr_ProspectusLineItems  
Trading Symbol dei_TradingSymbol PIDGX
Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (as a percentage of Offering Price) rr_MaximumDeferredSalesChargeOverOfferingPrice none
Redemption Fee (as a percentage of Amount Redeemed) rr_RedemptionFeeOverRedemption (1.00%)
Management Fees (as a percentage of Assets) rr_ManagementFeesOverAssets 1.00%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses (as a percentage of Assets): rr_OtherExpensesOverAssets 0.91%
Acquired Fund Fees and Expenses rr_AcquiredFundFeesAndExpensesOverAssets 0.67% [1]
Expenses (as a percentage of Assets) rr_ExpensesOverAssets 2.58%
Fee Waiver or Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.67%) [2]
Net Expenses (as a percentage of Assets) rr_NetExpensesOverAssets 1.91%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 194
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 $ 739
[1] 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.
[2] The Fund's adviser, Pinnacle Family Advisors, LLC (the "Adviser"), has contractually agreed to waive management fees and to make payments to limit Fund expenses, until the later of January 31, 2021 or one year from the Fund's effective date, so that the total annual operating expenses (excluding (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions; (iii) acquired fund fees and expenses; (iv) borrowing costs (such as interest and dividend expense on securities sold short), (v) taxes; and (vi) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual indemnification of Fund service providers (other than the Adviser))) of the Fund do not exceed 1.49%, 2.24% and 1.24% of average daily net assets attributable to Class A, C and I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within three years after the fees have been waived or reimbursed if such recoupment can be achieved, within the foregoing expense limits or within the expense limits in place at the time of recoupment, whichever is lower. This agreement may be terminated only by the Board of Trustees, on 60 days' written notice to the Adviser.
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