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Investment Strategy
Seeks long term capital appreciation with capital preservation as a secondary objective. The Fund seeks to achieve its investment objective by implementing a proprietary Relative Strength (RS) Global Macro model developed by Dorsey Wright & Associates (DWA).

Based on the technical analysis and relative strength expertise of:

Fund Highlights

  • Provides access to a tactical global macro strategy using long and inverse exposure to U.S. and international stocks with global exposure to fixed income, commodities and currencies
  • Core strategy with a strict relative strength buy and sell discipline
  • Access to the technical analysis expertise of Dorsey Wright & Associates

Who may want to Invest in the Arrow DWA Tactical Fund?

  • Designed for investors who have an investment time horizon of at least five years
  • A fund that has flexibility to narrow its focus by investing among a wide range of global asset classes, rotation strategies and ETFs
  • An actively managed alternative to strategic asset allocation funds, target maturity funds and life cycle funds that fall into the tactical global macro category

Investment Process Overview
Based on the DWA RS Global Macro investment model, the Arrow DWA Tactical Fund uses a systematic process to continuously seek relative strength across multiple global markets using a strict buy/sell discipline.

Multiple Global Macro Strategies
With fewer constraints, Global Macro strategies are able to pursue a targeted investing style. The goal of the Fund is to systematically identify and provide exposure to leading global market strategies. The following table highlights the global macro strategies that are monitored within the three market segments.

EquitiesFixed IncomeAlternatives

U.S. Style Rotation

U.S. Sector Rotation

International Rotation

Global Dividend

Global Alpha

Global Inverse*

Global Inflation

U.S. Treasury Rotation

Global Income

Commodity Rotation

Currency Rotation*

Global REIT

* The fund may use futures to provide exposure to these strategies.

Response for Changing Market Conditions
The Fund invests in various asset classes and market segments exhibiting positive relative strength. In essence, the global macro model works by reallocating to various market segments in response to the changing patterns of returns available in the global markets. The table below shows the Fund's three market segments, a description of the strategy exposure and the potential allocation ranges for each.

Market SegmentDescription
EquitiesProvides long/short exposure to domestic, international and emerging market equities. Short (or inverse) exposure will generally not exceed an allocation of 30%.0%100%
Fixed IncomeProvides exposure to domestic, international, and emerging fixed income markets, including corporate, government, and agency bonds.0%100%
AlternativesIncludes global exposure to real estate, currencies, and commodities. Allocations will generally not exceed 30% for each of these individual alternative strategies.0%90%

Portfolio of Exchange Traded Funds
The Fund will seek to implement its strategies by investing primarily in exchange traded funds, an efficient and effective investment designed to closely track the composition, performance and yield of an underlying index. ETFs typically provide exposure to different market segments by investing in a diverse "basket" of stocks, bonds, or commodities. ETFs are listed and traded on U.S. stock exchanges. Simply put, they trade like stocks and act like index funds.

Like stocks, ETFs are:                       Like mutual funds, ETFs are:
• Liquid
• Flexible
• Easy to trade
• Baskets of securities or instruments
• Representative of different asset classes
and investing styles
Like index funds, they provide:    Unlike mutual funds, ETFs are not:
• Diversification
• Market tracking
• Low Expenses
• Baskets of securities or instruments
• Subject to a manager's impact
• Subject to style drift

ETF's are subject to risks similar to those of stocks and may not be suitable for all investors.
ETF values will fluctuate and their price or value may rise or fall. Accordingly, an investor may receive back less than originally invested.