Company Press Release

ADVISORY RESEARCH INC. LAUNCHES STRATEGIC INCOME FUND

Advisory Research Inc., a leading investment firm with $9.2 billion in assets under management, announced today that it has launched a new mutual fund, the Advisory Research Strategic Income Fund (Ticker: ADVNX). The Fund primarily seeks to generate high current income while maintaining broad diversification, and also provides investors with an opportunity to potentially obtain long-term capital appreciation.

The Fund attempts to achieve its objectives by investing in income-producing securities that its Portfolio Managers determine to be undervalued. These securities include preferred stocks, convertible preferred stocks, common stocks, closed-end funds, master limited partnerships and corporate bonds. The Fund will allocate up to 80 percent of its assets to preferred securities and up to 20 percent each in the other security asset classes. The Fund's Portfolio Managers will look to invest predominantly in securities with investment grade credit ratings or quality and that trade at a spread of 2.5 percent or more over U.S. Treasuries.

"In keeping with Advisory Research's longstanding emphasis on value investing, we are offering this proven yield-generation strategy to investors at a time of historically low U.S. Treasury yields, and in an investment vehicle which gives them daily liquidity," said Chris Crawshaw, President of Advisory Research. "Our disciplined approach and proven, bottom-up equity investment process, which includes extensive and fundamentally driven research, will provide investors with a broadly diversified* portfolio consisting of high-income alternatives to Treasuries."

The Fund's strategy was first conceived by Advisory Research for use in two limited partnership accounts, which were launched in 2003. The limited partnership accounts' performance history and approximately $115 million in assets have been transferred to the Fund.

The Federal Reserve's recent policy statement indicates that interest rates will remain low for an indefinite period of time, making the Fund an attractive option for investors. The Federal Open Market Committee revealed in its December 12, 2012 minutes that it will target a federal funds rate between 0 percent and 0.25 percent as long as the unemployment rate stays above 6.5 percent and inflation for the next one to two years does not exceed 2.5 percent. As a result, investors in the Fund can potentially accrue substantial yields with decreased risk of a rise in interest rates.

"With yields on Treasuries extremely low and likely to stay that way for an extended period of time, investors need to look elsewhere for income," said Bruce Zessar, one of the Fund's Portfolio Managers. "Our Fund offers the potential to pick up material spread over Treasuries in securities of issuers in which we have confidence of return of principal, as well as return on principal."

Along with Mr. Zessar, Brien O'Brien and James Langer also serve as Portfolio Managers of the Fund.

For more information about Advisory Research, or to speak with someone about the new Fund, please contact Tony Kono at 973-850-7323 or tkono@jcprinc.com.

The Fund's prospectus which is available upon request by calling (888) 665-1414, includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.

Special Risks:

The value of a convertible security is influenced by changes in interest rates, the credit standing of the issuer and other factors. Debt securities have interest rate, inflation and credit risks and are subject to prepayment and default risk. High yield and junk securities involve greater risk and tend to be more sensitive to economic conditions and credit risk. Foreign and US currencies may unfavorably fluctuate in value relative to each other. Distressed securities are typically unrated, lower-rated, in default or close to default and the prices may be extremely volatile, more likely to become worthless and the Fund may lose all of its investment.

Foreign investments present additional risks due to currency fluctuations, economic and political factors, lower liquidity, government regulations, differences in securities regulations and accounting standards, possible changes in taxation, limited public information and other factors. Stocks are subject to substantial risks that may cause their prices to fluctuate over time, sometimes rapidly and unpredictably. The Fund may write covered call options on its holdings and will forgo the opportunity to benefit from potential increases in the value of that security, but will continue to bear the risk of declines in the value of the security.

Advisory Research Strategic Income Fund is distributed by IMST Distributors, LLC.

About Advisory Research

Advisory Research, Inc. is a leading investment firm with $9.2 billion in assets under management as of September 30, 2012. Advisory Research is a wholly-owned subsidiary of Piper Jaffray Companies, an international middle market investment bank. Founded in 1974, Advisory Research is a value-oriented firm, providing U.S. and non-U.S. equity strategies through mutual funds and separately managed accounts. The firm's core investment strategies include Small Cap Value, Small/Mid Cap Value, International Small Cap Value, Global Value, Japan Value, and Master Limited Partnerships.