KEY PERFORMANCE201520162017
Castlewood Select Opportunity Fund*16.22%13.48%16.79%
S&P 500**-0.73%9.54%19.42%
HFRI Macro: Multi-Strategy Index-1.10%4.45%5.46%

PERFORMANCE INFORMATION:                                                      Periods Ending 12/31/17

   Cumulative    Risk Characteristics


*  Reported results for The Castlewood Select Opportunity Fund are net of management fees and expenses

** Reported results for the S&P 500 are excluding dividends



The performance data quoted represents past performance; past performance does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less then their original cost.  Current performance of the Fund may be lower or higher than the performance quoted.


1 Mo3 Mo1 Yr3 Yr3 Yr CAGRStandard DeviationMax DrawdownSharpe Ratio
Castlewood Select Opportunity Fund*0.71%2.61%16.79%54.02%15.48%0.66%2.45%6.84
S&P 500**0.98%6.12%19.42%29.86%9.10%1.09%2.58%5.03
HFRI Macro: Multi-Strategy Index1.02%2.73%5.46%7.84%2.55%1.30%8.02%0.39


ADDITIONAL DISCLOSURE INFORMATION:


2017 MONTHLYJANFEBMARAPRMAYJUNJULAUGSEPOCTNOVDEC
YTD
Castlewood Select Opportunity Fund*1.86%0.11%1.56%2.72%1.93%1.69%0.95%1.16%1.09%0.78%1.10%0.71%
16.79%
S&P 500**1.79%3.72%-0.04%0.91%1.16%0.48%1.93%0.05%1.93%2.22%2.81%0.98%
19.42%
HFRI Macro: Multi-Strategy Index0.58%0.46%0.07%0.11%0.09%-0.64%1.18%0.76%0.03%1.41%0.28%1.02%
5.46%