Equinox Expands Investment Team With the Acquisition of Tapestry Asset Management

Equinox Expands Investment Team With the Acquisition of Tapestry Asset

PRINCETON, N.J., Jan. 24, 2013 (GLOBE NEWSWIRE) -- Equinox Financial Group,
LLC ("Equinox") — an innovator in alternative investment solutions — recently
announced the expansion of its portfolio management team with the acquisition
of Tapestry Asset Management, LP ("Tapestry"), an investment advisor
specializing in the construction, implementation and monitoring of
multi-manager hedge fund portfolios and managed futures strategies. 

Based in Princeton, NJ, Tapestry was established in 2002 by Chief Investment
Officer Afroz Qadeer and a group of founding partners.The Tapestry management
team has an average of 25 years of managed futures and hedge fund investing
experience, and has worked together for more than 13 years, including time
spent at Goldman Sachs Asset Management and Commodities Corporation
(Princeton).Based on its strong track record managing large, multi-manager
portfolios across the entire spectrum of liquid alternatives, including
managed futures, equity long-short^1, arbitrage, sector specific, emerging
managers and customized institutional mandates, the addition of Tapestry
should bode well for Equinox as it seeks to expand its non-traditional
investment line-up.Post-acquisition, Richard Bornhoft will remain Chief
Investment Officer and Dr. Ajay Dravid will retain his role as Managing
Director of Portfolio Management of Equinox Fund Management, LLC.Mr. Qadeer
will remain Chief Investment Officer of Tapestry, which will be rebranded
under the Equinox name."The Equinox portfolio management team looks forward
to this transition as we continue to expand our organization and product
capabilities with Tapestry's tremendous knowledge of hedge funds, equity
markets and the managed futures asset class," commented Mr. Bornhoft.

Robert Enck, President and Chief Executive Officer of Equinox, concurred,
"Given Tapestry's broad alternative investment experience and Equinox's
industry-leading product development, we believe this acquisition will poise
our business for increased growth, not only in the managed futures arena, but
across a wider range of non-traditional asset classes."For Mr. Qadeer, the
acquisition has brought his relationship with Equinox full circle.Mr. Qadeer
explained, "My partners and I have known the founders of Equinox very well on
a personal basis for many years, even prior to the inception of Equinox and
Tapestry.Dr. Dravid was also my professor when I attended The Wharton School
MBA program many years ago.Today, I'm thrilled to join Dr. Dravid and the
growing portfolio management team at Equinox."Dr. Dravid added, "I'm proud
not only to have taught Afroz at Wharton, but to work with him now on a
professional level.I believe the diverse and complementary backgrounds of the
combined Equinox and Tapestry teams will work brilliantly together to position
Equinox as the premier alternative investment solution provider in the

Equinox Financial Group, LLC's affiliate, Equinox Fund Management, LLC, has
been an innovator in alternative investment product development and
distribution since its founding in 2003.In December 2009, Equinox launched
the MutualHedge Frontier Legends Fund ("MutualHedge") (ticker:MHFAX), the
first actively managed mutual fund with exposure to Commodity Trading Advisor
programs. MutualHedge Load-Waived A Shares recently received five stars
(*****) and the A and C Sharesreceived four stars (****) from Morningstar as
well as the #1 ranking out of 18 eligible managed futures funds in the
category (based on three-year performance ending 12/31/2012)^2. Equinox also
sponsors the Equinox Commodity Strategy Fund, the Equinox Alternative Strategy
Platform, a suite of single commodity trading advisor programs offered in a
mutual fund format, and The Frontier Fund, a public managed futures family of
funds with daily liquidity. Equinox recently partnered with Morgan Stanley
and Quest Partners LLC to launch the first of a series of four CTA Funds in a
UCITS^3 format under Morgan Stanley's FundLogic Alternatives Platform^4.

The Equinox Financial Group, LLC logo is available at

Tapestry Asset Management, LP provides customized investment solutions for
clients who desire awell-constructed alternatives program to fit specific
needs either as a diversifier to traditional portfolio components or to
achieve targeted exposure to a particular market or regional focus.The
collective caliber of Tapestry's investment team includes senior portfolio
management positions at preeminent firms such as Chase Manhattan Bank, Goldman
Sachs and Optima, and at boutique firms such as Lake Partners.Tapestry has
been registered as an investment advisor with the SEC since 2005 and as a
commodity pool operator and commodity trading advisor with the CFTC (Commodity
Futures Trading Commission) since 2010. Tapestry is a member of the National
Futures Association.

Securities offered through Equinox Group Distributors, LLC, Member FINRA. 47
Hulfish Street, Suite 510, Princeton, NJ 08542 1-877-837-0600

Investors should carefully consider the investment objectives, risks, charges,
and expenses of the Funds. These and other important information about the
Funds are contained in the applicable Prospectus, which can be obtained by
calling 1-888-643-3431. The Prospectus should be read carefully before

Distributed by Northern Lights Distributors, LLC, Member FINRA. Equinox Group
Distributors, LLC and Tapestry Asset Management, LLC are not affiliated with
Northern Lights Distributors, LLC. 

^1 Long-short investing strategies involve buying long equities that are
expected to increase in value and selling short equities that are expected to
decrease in value, with the intention of subsequently repurchasing them
("covering") at a lower price.

^2© 2013 Morningstar, Inc. All Rights Reserved. The information contained
herein: (1) is proprietary to Morningstar and/or its content providers; (2)
may not be copied or distributed; and (3) is not warranted to be accurate,
complete or timely. Neither Morningstar nor its content providers are
responsible for any damages or losses arising from any use of this
information. Past performance, ratings and rankings are no guarantee of future

Ratings and other statistics for load-waived versions of the class A shares of
mutual funds reflect the investor experience for those individuals who do not
pay the funds' front-end sales load, such as retirement-plan participants or
those investors who commit to invest above a certain amount. The load-waived
rating supplements the Morningstar Rating™ for the original A share class,
where all load-adjusted measures reflect the maximum front load.Load-waived A
shares are displayed and treated like a separate share class, and most data is
the same between the original A share and the load-waived share. The
statistics that are different include load-adjusted measures, such as the
Morningstar Rating, rating-related scores and returns, tax-adjusted returns,
and any percentile ranks based on these measures. To be eligible for
load-waived ratings and returns, the fund must be an A share class, must have
a front load and must be domiciled in the United States. Morningstar does not
calculate load-waived ratings for B or C share classes because fund companies
rarely waive the loads on these funds.

For each fund with at least a three-year history, Morningstar calculates a
Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that
accounts for variation in a fund's monthly performance (including the effects
of sales charges, loads, and redemption fees), placing more emphasis on
downward variations and rewarding consistent performance. The top 10% of funds
in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35%
receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1
star. (Each share class is counted as a fraction of one fund within this scale
and rated separately, which may cause slight variations in the distribution
percentages.) The Overall Morningstar Rating for a fund is derived from a
weighted average of the performance figures associated with its three-, five-
and ten-year (if applicable) Morningstar Rating metrics.

In addition to the since inception rating above, the MutualHedge Frontier
Legends Fund was ranked 29 out of 100 funds and shares classes in the Managed
Futures Category for the one-year period ending December 31, 2012.

The #1 Morningstar Ranking was based on returns of the Fund versus 18 funds in
Morningstar's Managed Futures Funds category as of 12/31/2012. Ratings and
rankings are only one form of performance measurement. For current performance
information, please call toll free 1-888-MHEDGE1 (1-888-643-3431) or go to our
website equinoxfundmanagement.com.

^3UCITS stands for "Undertakings for Collective Investment in Transferable

^4FundLogic is the brand name for Morgan Stanley's fund solutions platform
launched in 2006. It offers both UCITS and non-UCITS funds. The platform
delivers fund solutions to clients by combining the financial expertise,
innovation and resources of Morgan Stanley, and offers a range of products
including passive index funds, structured funds and the more recently launched
third party manager-UCITS Funds.

EFM406 /0238-NLD-01/23/2013

CONTACT: Media Contact: Debra L. Draudt
         Tel: 609-430-0404 x106

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