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Effective after the close of business on February 29, 2012, all Arrow Funds’ CUSIPS will change.

All Arrow Funds transactions with a trade date of March 1, 2012 and thereafter should use the new CUSIPs. Note: Only the CUSIP numbers are changing, but all ticker symbols will remain the same.

Arrow Funds will be changing Trusts from the Northern Lights Fund Trust (“NLFT”) to the Arrow Investments Trust (“AIT”). Therefore, the CUSIP numbers need to be revised accordingly to reflect the correct Trust affiliation.

The new CUSIP information for each fund and share class is listed in the table below:

Fund NameShare ClassTickerNEW CUSIP
Arrow Alternative Solutions FundA-SharesASFFX042765107
C-SharesASFTX042765206
Arrow DWA Balanced Fund A-Shares DWAFX 042765404
C-SharesDWATX042765503
Arrow DWA Tactical FundA-SharesDWTFX042765701
C-SharesDWTTX042765800
Arrow Managed Futures Trend FundA-SharesMFTFX042765875
C-SharesMFTTX042765867


This information has been relayed by our fund services team to the appropriate operational groups throughout the industry.

If you have any questions, please feel free to give us a call at (887) 277-6933, Opt. 1.

Sincerely,

Arrow Funds

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Before investing, please read the prospectus and shareholder reports to learn about the investment strategy and potential risks. Investing involves risk including loss of principal. An investor should also consider the investment objective, charges, expenses, and risk carefully before investing. This and other information is contained in the prospectus, which can be obtained by calling 1-877-277-6933. Please read the prospectus carefully before investing. Content reviewed by an affiliate, Archer Distributors, LLC (member FINRA).

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