Company Press Release

Gemini, Arrow Partner To Launch Northern Lights ETF Trust

Shared Fund Trust Provides ETF Operational and Cost Efficiencies for Advisers

HAUPPAUGE, N.Y., -- Gemini Fund Services, LLC(Gemini), an engaged partner to independent advisers as a provider of comprehensive, pooled investment solutions, and Arrow Investment Advisors, LLC (Arrow), the adviser to Arrow Funds and ArrowShares, have teamed up to launch the Northern Lights ETF Trust (NLET), a shared fund trust designed to bring innovative exchange-traded funds (ETFs) to market.

NLET will provide benefits to advisers similar to Gemini's shared fund trusts for mutual funds. The trust will be comprised of independent ETFs managed by separate investment advisers. Like Gemini's shared mutual fund trusts, NLET will provide ETF advisers with operational efficiencies and economies of scale they would not be able to achieve on their own.

"The combined experience and expertise that Gemini has acquired from managing its shared mutual fund trusts and that Arrow has obtained from developing exchange-traded solutions that can thrive in today's ever-changing marketplace presents a powerful offering to advisers," said Andrew Rogers, CEO of Gemini. "The Northern Lights ETF Trust will provide advisers with a complete suite of tools and support to overcome obstacles to market entry and bring their ETFs to investors."

On May 8, 2012, Arrow launched NLET's first ETF, the Arrow Dow Jones Global Yield ETF (NYSE Arca: GYLD), which seeks investment results corresponding to the price and yield performance of the Dow Jones Global Composite Yield Index (before fees and expenses). Gemini and Arrow will partner with other advisers to create additional ETFs within NLET.

"We have a history of working with Gemini's mutual fund trust where they have had much success in helping advisers bring unique investment solutions to the marketplace," says Joseph Barrato, CEO of Arrow Investment Advisors. "We are proud to continue our partnership and look forward to contributing our exchange traded fund expertise and exemptive relief status to help benefit those advisers seeking to gain entry into the ETF marketplace via NLET."

About Gemini Fund Services, LLC

Gemini Fund Services, LLC (www.geminifund.com) provides comprehensive, pooled investment solutions as an engaged partner to independent advisers. Gemini serves as a strategic partner and resource to advisers that want to bring their own, unique investment vehicles to market, including mutual funds, hedge funds, and alternative investments such as collective investment trusts. As a full-service firm, Gemini provides the administration, accounting, and technology that advisers need in order to launch and market successful products. With over 25 years of experience creating and servicing funds, Gemini brings years of industry knowledge and insight to help advisers achieve the vision of their product and deliver the most extensive range of turnkey solutions to clients.

About Arrow Investment Advisers, LLC

Arrow Investment Advisers, LLC, the adviser to Arrow Funds and ArrowShares, is an asset management firm specializing in tactical and alternative investments. Arrow is dedicated to helping advisers and clients achieve their goals through research, education and portfolio solutions designed for ever-changing markets. To learn more about Arrow's mutual funds, visitwww.arrowfunds.com, or for exchange-traded products, visit www.arrowshares.com.

Before investing, please read the prospectus and shareholder reports to learn about the investment strategy and potential risks. Investing involves risks, including the potential loss of principal. An investor should also consider the investment objective, charges, expenses, and risks carefully before investing. This and other information is contained in the prospectus, which can be obtained by calling 1-877-277-6933 or by visitingwww.arrowshares.com/prospectus. Please read the prospectus carefully before investing. Arrow Investment Advisors serves as investment advisor to Arrow Funds, distributed through Northern Lights Distributors, LLC (member FINRA). Northern Lights Distributors, LLC and Arrow Investment Advisors are not affiliated entities. Read more here: http://www.sacbee.com/2012/12/19/5064550/gemini-arrow-partner-to-launch.html#storylink=cpy


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