High Yield Municipal and Short Duration Municipal

The Principal Street Partners High Income Municipal Bond Fund (GSTAX) is an open-end, daily fund focused on delivering a long-term, yield-driven, total return in a tax-efficient and diversified portfolio through fundamental credit analysis on sectors that we believe present the best relative value and greatest upside potential.

The fund’s primary objective is current income; however, the strategy may also provide meaningful total return in order to achieve an attractive overall risk-return profile for investors. The strategy is a nationally diversified portfolio of high-yielding, tax-exempt securities with a focus on project revenue bonds in sectors deemed vital to the economy such as healthcare, manufacturing, transportation, power/energy and education (public/private). Principal Street will selectively invest in innovative, non-traditional, dynamic sectors (such as charter schools, continuing care retirement communities and alternative forms of power/energy), which are historically higher-yielding and may provide long-term opportunities for enhanced total return and income.

Principal Street’s Short-Duration Municipal Bond Strategy is available in a separately managed account structure and seeks to outperform other short-term investment strategies such as money market funds and treasuries by carefully selecting short-duration, high-quality, short-call municipal bonds that generate coupon interest. The strategy does not use leverage, nor does it invest in other investment vehicles such as mutual funds or other pooled investment vehicles.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Principal Street High Income Municipal Bond Fund. This and other important information about the fund is contained in the Prospectus, which can be obtained at principalstreetfunds.com/funds or by calling (877) 914-7343. The Prospectus should be read carefully before investing. The Principal Street High Income Municipal Bond Fund is distributed by Quasar Distributors, LLC, member FINRA/SIPC. Quasar Distributors, LLC, Principal Street Partners, and Skypoint Capital Partners are not affiliated. Fund fact sheet available at principalstreetfunds.com/funds.