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Portfolio Manager

Dexter Lyons

Lion
Quick Facts

B.S. Business Administration, University of Louisiana at Lafayette.

Portfolio manager with Horizon Capital Management since 1990

  • 1990 – 2004: Managed SMA’s
  • 2004 – 2014: Managed HCM’s Freedom Fund
  • 2014 – present: Managing the Issachar Fund
Bio

Dexter lives in Lafayette, LA with his wife of 30+years and his 4 children. He thoroughly enjoys spending time with family and friends boating, fishing and hunting at their camp. He also enjoys serving in Men’s Ministry at Our Savior’s Church in Lafayette, LA pastored by Pastor Jacob Aranza.

Personal Note from Dexter Lyons

I’m Dexter P. Lyons, a Christian money manager seeking to honor God as the Portfolio Manager of the Issachar Fund. I believe that God has gifted me with a passion and a purpose as I daily seek to fulfill my destiny. My obedience and love for Jesus drives me to honor Him by striving to be a good steward of all relationships and money that He has entrusted to me.

While working as a diesel mechanic in the late 80’s, I lost over half of my savings during a two week period to a stock broker with an apparent conflict of interest. It was at that moment I decided that I would make every attempt to avoid this happening to me again. I studied the stock market and technology extensively in college and tried to figure out how I lost so much money in such a short period of time. My thinking at the time was, if I lost it, then that meant someone found it. That really intrigued me.

I studied the financial markets and began creating investment strategies that seek to provide capital gains with limited risk exposure. It has taken me almost three decades of gains and losses to come to the conclusion that there are times to be invested and there are times to certainly not be invested. My job as the portfolio manager is to seek the Lord’s wisdom and understanding to maintain daily risk-management disciplines.

I have used sophisticated models and systems through-the-years and have come to one basic conclusion. Computer models and systems work until they don’t, and no one rings a bell to tell you when the model quits working. Nothing can replace the grace, wisdom and common sense that God freely gives us. I want to share my 33 plus years of hard work and lessons learned with the shareholders of the Issachar Fund.

Managing money is a full-time job and I have learned the hard way that I cannot control the “return” but I can attempt to manage the “risk” I take while investing. I do not subscribe to the buy and hold philosophy because I believe there is just too much potential risk in the market to stick my head in the sand and say what most people say: “I am in it for the long run and it always comes back”.

I am now over 60 years old. If you’re like me, you have built some wealth and now you want to make your money work for you instead of the other way around. It’s important at this stage to protect your assets by mitigating the risk of life-altering losses, yet prudently growing assets at the right time. As a Portfolio Manager, I try to focus on getting base hits when market opportunities present themselves, instead of swinging for the fences at the risk of striking out. I limit those potential losses by managing risk and seek to identify opportunities that will grow assets conservatively over time.

I welcome you to invest with me in the Issachar Fund and look forward to serving you as a trusted portfolio manager as you work towards your financial goals.

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Issachar Fund
c/o Ultimus Fund Services, LLC
4221 N. 203rd Street, Suite 100
Elkhorn, NE 68022
866-787-8355
337‐983‐0676

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Important Risk Information

Investors should carefully consider the investment objectives, risks, charges and expenses of the Issachar Fund. This and other important information about the Fund are contained in the prospectus, which can be obtained by calling 1-866-787-8355 or going to the Documents page.  The prospectus should be read carefully before investing. The Issachar Fund is distributed by Northern Lights Distributors, LLC., member FINRA/SIPC

The Issachar Fund involves risks including the possible loss of principal, and may not be suitable for all investors.

The Fund may engage in frequent trading, leading to increased portfolio turnover, higher transaction costs, and the possibility of increased net capital gains, including net short-term capital gains that will be taxable to shareholders as ordinary income when distributed.  The Fund may hold cash positions and there is a risk that the sections of the market in which the Fund invests will begin to rise or fall rapidly and the Fund will not be able to sell stocks quickly enough to avoid losses, or reinvest its cash positions into areas of the advancing market quickly enough to capture the initial returns of changing market conditions.  The Fund’s investments in large capitalization stocks may underperform Funds that invest primarily in the stocks of lower quality, smaller capitalization companies during periods when the stocks of such companies are in favor.  Investments in small-capitalization and mid-capitalization companies involve greater risks and volatility than investing in larger capitalization companies.  Small and medium-size companies often have narrower markets for their goods and/or services and more limited managerial and financial resources than larger, more established companies.

The Fund invests in debt instruments which have varying levels of sensitivity to changes in interest rates, credit risk and other factors.  Many debt instruments are subject to prepayment risk, which is the risk that the issuer of the security will repay principal prior to the maturity date.  The Fund could lose money if the issuer or guarantor of a debt security goes bankrupt or is unable or unwilling to make interest payments and/or repay principal.  Changes in an issuer’s financial strength or credit rating also may affect a security’s value and have an impact on Fund performance.  The value of the Fund’s investment in fixed income securities will fall when interest rates rise and the effect of increased interest rates is more pronounced for intermediate-term or longer-term fixed income obligations owned by the Fund.  The Fund will invest a significant portion of its assets in securities that are rated below investment grade or “junk bonds.”  Junk bonds may be sensitive to economic changes, political changes, or adverse developments specific to a company.  These securities generally involve greater risk of default or price changes than other types of fixed-income securities and the Fund’s performance may vary significantly as a result.  The floating rate loans in which the Fund invests are usually rated below investment grade and are generally considered speculative because they present a greater risk of loss, including default, than higher quality debt securities and may be less liquid than higher rated debt securities.

The value of the Fund’s asset-backed securities may be affected by changes in interest rates, the availability of information concerning the interests in and structure of the pools of purchase contracts, financing leases or sales agreements that are represented by these securities, the creditworthiness of the servicing agent for the pool, the originator of the loans or receivables, or the entities that provide any supporting letters of credit, surety bonds, or other credit enhancements.  The Fund’s investment in municipal securities carries additional risk including changes in federal, state or local laws that may make a municipal issuer unable to make interest payments when due. Municipal securities backed by current or anticipated revenues from a specific project or specific assets can be negatively affected by the inability to collect revenue, for the project or from the assets. Moreover, an adverse interpretation of the tax status of municipal securities may make such securities decline in value.  In addition to the risks typically associated with fixed income securities, loan participations carry other risks, including the risk of insolvency of the lending bank or other intermediary.  Loan participations may be unsecured or not fully collateralized, may be subject to restrictions on resale and sometimes trade infrequently on the secondary market.

The Fund uses investment techniques, including investments in futures contracts, forward contracts, options and swaps, which may be considered to be an aggressive investment technique.  Investments in such derivatives may general be subject to market risks that may cause their prices to fluctuate over time and may increase the volatility of the Fund.  The use of derivatives may expose the Fund to additional risks that it would not be subject to if it invested directly in the securities underlying those derivatives, such as counterparty risk and the risk that the derivatives may become illiquid.  The use of derivatives may result in larger losses or smaller gains than investing in the underlying securities directly.   Interest rate swaps are subject to interest rate and credit risk.  Total return swaps are subject to counterparty risk, which relate to credit risk of the counterparty and liquidity risk of the swaps themselves.  There may be an imperfect correlation between the prices of options, futures, and/or forward contract and movements in the price of the securities (or indices) hedged or used for cover which may cause a given hedge not to achieve its objective.  There may not be a liquid secondary market for futures contracts and Forward currency transactions include the risks associated with fluctuations in currency.   If the Fund uses a hedging instrument at the wrong time or judges the market conditions incorrectly, the hedge might be unsuccessful, reduce the Fund’s investment return, or create a loss.  Use of leverage can magnify the effects of changes in the value of the Fund and makes them more volatile and increases the risk for loss in adverse environments.  Short positions are designed to profit from a decline in the price of particular securities, baskets of securities or indices.  The Fund will lose value if the instrument’s price rises – a result that is the opposite from traditional mutual funds.

Investments in foreign securities and securities that provide exposure to foreign securities involve greater risks than investing in domestic securities.  As a result, the Fund’s returns and NAVs may be affected to a large degree by fluctuations in currency exchange rates, political, diplomatic or economic conditions and regulatory requirements in other countries. The Fund also may invest in depositary receipts, including ADRs, which are traded on exchanges and provide an alternative to investing directly in foreign securities.  Investments in ADRs are subject to many of the risks associated with investing directly in foreign securities.  The laws and accounting, auditing, and financial reporting standards in foreign countries typically are not as strict as they are in the U.S., and there may be less public information available about foreign companies.  Investments in emerging markets instruments involve greater risks than investing in foreign instruments in general. Risks of investing in emerging market countries include political or social upheaval, nationalization of businesses, restrictions on foreign ownership and prohibitions on the repatriation of assets and risks from an economy’s dependence on revenues from particular commodities or industries among others.

No-Load mutual funds are sold without a sales charge, however other fees and expenses do apply to an investment in the Fund.

Total annual fund operating expenses are 2.74% for Class N and 2.48% for Class I. 

NLD Review Code: 3538-NLD-11/07/2023  (Home Strategy Page)

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