Meritage Capital, LLC ("Meritage") launched its first alternative mutual fund today. The Insignia Macro Fund (the "Fund", Ticker: IGMLX (Institutional); IGMFX (Class A)) seeks long-term risk adjusted return by employing global macro-managed futures investment strategies. The fund is unique from other liquid alternative macro offerings primarily because of its allocation to discretionary focused managers.

The Meritage team has over 50 years of collective experience dynamically allocating capital to global macro managers across a variety of investment styles.

"Investors in the Insignia Macro Fund will be able to access a flexible investment approach designed to capitalize on investment strategies that are generally uncorrelated to equity markets and which we believe tends to dampen portfolio volatility while reducing risk," Joe Wade, Chief Investment Officer of Meritage, said.

According to Hedge Fund Research, global macro strategies were one of the top performing investment strategies in 2007 and 2008, during which many investors suffered losses from over-exposure to equity markets1.

The Fund provides exposure to underlying managers who employ a variety of global macro trading strategies including discretionary and systematic across numerous markets. The Fund will generally overweight discretionary managers. Managers who employ discretionary strategies generally invest based on fundamental research and specialized market knowledge, among other factors, including technical indicators or chart patterns. Managers who employ systematic strategies generally exploit trending behavior of futures markets over various time frames by utilizing quantitative systems.

"Our experience over the last 10 years has demonstrated that an allocation to global macro strategies can benefit investors," said Wade. "We believe offering this 1940 Act-Registered Fund will allow all investors to access the portfolio diversification benefits possible in global macro investing."

1 HFRI Indices Annual Investment Returns (2000-YTD Q3 2013)

About Meritage Capital

Meritage Capital is a $1 billion2 SEC-registered investment advisor specializing in differentiated hedge fund solutions for a global client base including family offices, high net worth individuals, and institutions. Founded in 2003, our firm is owned by three family offices that have a shared vision for performance excellence, integrity, intellectual curiosity, and transparency. Committed to a complete alignment of interests, these family offices have significant assets invested alongside our clients.

Our firm offers a complementary suite of hedge fund solutions including commingled strategies, customized mandates, and liquid alternative vehicles. Based in Austin, Texas, our dedicated team of 12 professionals has diverse buy-side, sell-side, and senior corporate management backgrounds and is singularly focused on delivering superior hedge fund solutions to our clients.

www.meritagecapital.com

2 as of 10/31/13

Investors should carefully consider the investment objectives, risks, charges and expenses of the Insignia Macro Fund. This and other important information about the Fund is contained in the Fund's Prospectus, which can be obtained at www.insigniafunds.com or by calling (855) 674-4642. The prospectus should be read carefully before investing.

The Insignia Macro Fund is distributed by ALPS Distributors, Inc. member FINRA. Meritage Capital, LLC and ALPS Distributors, Inc. are unaffiliated.

MUTUAL FUNDS INVOLVE RISK INCLUDING POSSIBLE LOSS OF PRINCIPAL. DIVERSIFICATION DOES NOT ELIMINATE RISKS.

Important Risks:

The Fund is subject to various risks including, but not limited to, commodity risk, counterparty risk, credit risk, derivatives risk, fixed income risk, foreign currency risk, foreign investment risk, issuer-specific risk, leverage risk, liquidity risk, management risk, market risk, new fund risk, non-diversification risk, short position risk, structured note risk, swap risk, taxation risk, turnover risk, underlying funds risk, and wholly-owned subsidiary risk.

Investing in commodity futures markets subjects the Fund to volatility as commodity futures prices are influenced by unfavorable weather, geologic and environmental factors, regulatory changes and restrictions. Trading on foreign exchanges and foreign investments including exposure to foreign currencies, involve risks not typically associated with U.S. investments, including fluctuations in foreign currency values, adverse social and economic developments, less liquidity, greater volatility, less developed or inefficient trading markets, political instability and differing auditing and legal standards. These risks are magnified in emerging markets.

The Fund's use of derivatives such as futures, swaps, structured notes, and options contracts expose the Fund to additional risks such as leverage risk, tracking risk and counterparty default risk that it may not be subject to if it invested directly in the underlying securities.

Although futures contracts are generally liquid, under certain market conditions there may not always be a liquid secondary market. Option positions held may expire worthless and cause a loss. The use of leverage can increase share price volatility and magnify gains or losses, as well as cause the Fund to incur additional expenses.

The Fund may use investment techniques and financial instruments that may be considered aggressive, including but not limited to investments in swap and underlying funds and the use of futures contracts, options on futures contracts, securities, indices, forward contracts, swap agreements and similar instruments. Such techniques may also include taking short positions or using other techniques that are intended to provide inverse exposure to a particular market or other asset class, as well as leverage, which can expose the Fund to potentially dramatic changes (losses or gains). These techniques may expose the Fund to potentially dramatic changes (losses) in the value of certain of its portfolio holdings.

for Meritage Capital, LLC
Cristina Salinas, 512-794-8600
cristina@petersgroupPR.com
or
Lauren Peters, 512-431-2938
lauren@petersgroupPR.com