The Eventide Gilead Fund Reports Results for Fiscal Year Ending June 30, 2012

BOSTON, MA--(Marketwire - Aug 10, 2012) - The Eventide Gilead Fund's no-load class (NASDAQ: ETGLX) completed four years on June 30, 2012 and continues to find unique market opportunities, especially within the biotech and pharmaceutical space.

According to Managing Partner, Robin John, "We pride ourselves on being different and innovative and prefer to seek out opportunities for our shareholders that are not easily available through other mutual funds. We seek out companies that are both profitable and create value for their customers, employees, and the communities that they serve." The Top 10 Holdings, as of June 30, 2012, included Array BioPharma, Aspen Technology, Cymer, Domtar, Dynavax Technologies, Macquarie Infrastructure Company, NPS Pharmaceuticals, Optimer Pharmaceuticals, Solazyme, and Trius Therapeutics.

The following table highlights the Fund's performance over the past four years:

As of 06/30/2012 YTD return 1 year return 3 year annualized return Since inception (07/08/2008) annualized return
Eventide Gilead* 9.49 % -3.91 % 15.00 % 10.28 %
S&P 500 Total Return Index 8.87 % 5.45 % 16.40 % 3.99 %
Russell Mid-Cap Growth Total Return Index 8.11 % -2.99 % 19.01 % 4.96 %

Expenses ratios: Gross Expenses 2.58%, Net Expenses 1.68%. The advisor has agreed to maintain the Fund's total annual operating expenses at 1.68% until at least October 31, 2012. Three year and inception returns are annualized. The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. Please review the fund's prospectus for more information regarding the fund's fees and expenses. Performance shown is for Retail Class shares (please see a prospectus for information about other share classes). For performance information current to the most recent month-end, please call toll-free 877-771-3836.

The Eventide portfolio management team attributes the Fund's long-term outperformance to its values-driven investment approach and to unique expertise in the healthcare space. According to Eventide portfolio manager Dr. Finny Kuruvilla, MD, PhD., "We believe our overweight in healthcare and biotech should perform well with a range of scenarios as they are more shielded from macroeconomic events. Biotechnology has the most non-correlation of any industry and therefore offers a different return profile. We are excited about the opportunities in the biotech space over the next year."

Dr. Kuruvilla continues, "We purposely manage the Eventide Gilead Fund to maintain low market correlation as we believe this provides better diversification benefits for our investors. Too many investors are trying to predict the direction of the market; yet, the economy is very complex and looking at a limited number of data sets may not tell the whole story. Is the reduction in household financial obligations and debt service sufficient to offset the decline in year‐over‐year real personal income growth? Leading-indicators from the Conference Board remain favorable, implying a low probability of near-term recession. However, external shock events such as from Europe, by their nature, cannot be forecasted and discounted. Despite macro-economic concerns, we are excited about the opportunities in the biotech space over the next year. There are a number of companies we believe have solid return prospects with less market-related risk. This focus on idiosyncratic risk has given comparatively low market correlation, but also attractive returns." ETGLX has an R-squared of 72.95 against the S&P 500 since inception on 07/08/2008.

The performance pertains to the no-load* class. The Fund offers multiple classes of shares for which performance will differ, based upon fees and commissions. *Other expenses that apply to a continued investment in the fund are described in the Fund's prospectus.

The S&P 500 is an index created by Standard & Poor's and is considered to represent the performance of the stock market generally. It is not an investment product available for purchase.

The Russell Midcap Growth Index is an index created by Russell Investments and is intended to measure the performance of the mid-cap growth segment of the U.S. equity universe. The Russell Midcap Growth Index is an investment product available for purchase (ticker: RDG).

Mutual Funds involve risk including the possible loss of principal. The fund can invest in smaller-sized companies which may experience higher failure rates than larger companies and they normally have a lower trading volume than larger companies. The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. The fund can have risk associated with the biotechnology and pharmaceutical industry in which these companies may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the U.S. Food and Drug Administration. The fund can have risk related to option investing. There are special risks associated with investments in foreign companies including exposure to currency fluctuations, less efficient trading markets, political instability and differing auditing and legal standards. The fund can have risk associated with a higher portfolio turnover which could result in higher transactional costs.

An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the Eventide Gilead Fund can be found in the Fund's prospectus. Please read the prospectus carefully before investing. To obtain a current prospectus please call the fund, toll free at 877-771-EVEN (3836). You can also obtain a prospectus at The Eventide Gilead Fund is distributed by Northern Lights Distributors, LLC, member FINRA, which is not affiliated with Eventide Asset Management, LLC.

Contact Information:

The Eventide Gilead Fund
Robin John
877-771-EVEN (3836), x55