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The Miller Family of Funds Discloses Its Capital Gains Position as of September 30, 2016

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WELLESLEY, Mass.--(BUSINESS WIRE)--

The Miller Family of Funds, consisting of the Miller Convertible Bond Fund, the Miller Convertible Plus Fund and the Miller Intermediate Bond Fund, today released details of its capital gains positions for the 11 months ended September 30, 2016. The fiscal year end of each of the funds is October 31, 2016. Each fund expects to distribute its Net Realized Capital Gains to shareholders sometime during the month of December 2016.

               
Miller Convertible Bond Fund    

MCIFX
Class I

   

MCFAX
Class A

   

MCFAX.lw
Class A no load

   

MCFCX
Class C

Net unrealized capital gains* - 11 months ended 9/30/16     34,641,373.11     7,112,776.84     7,112,776.84     3,847,947.05

Net realized long-term capital gains - 11 months ended
9/30/16

    -1,156,668.01     -254,314.15     -254,314.15     -143,387.71

Net realized short-term capital gains - 11 months ended
9/30/16

    6,045,958.37     1,246,924.73     1,246,924.73     730,179.29
Net assets as at 9/30/16     641,542,303     112,261,283     112,261,283     72,606,803
Share price as at 9/30/16     12.76     12.77     13.55     12.69
1-year performance through 9/30/16     11.43%     10.91%     4.50%     10.35%
3-year performance through 9/30/16     6.46%     5.92%     3.85%     5.41%
5-year performance through 9/30/16     9.62%     9.07%     7.79%     8.52%
Since inception performance 12/27/07 - 9/30/16     6.86%     6.28%     5.57%     N/A
Since inception performance 12/1/09 - 9/30/16     N/A     N/A     N/A     7.09%
                         
Miller Convertible Plus Fund    

MCPIX
Class I

   

MCPAX
Class A

   

MCPAX.lw
Class A no load

   

MCCCX
Class C

Net unrealized capital gains* - 11 months ended 9/30/16     3,609,938.17     37,052.31     37,052.31     37,070.44

Net realized long-term capital gains - 11 months ended
9/30/16

    87,183.66     640.70     640.70     813.74

Net realized short-term capital gains - 11 months ended
9/30/16

    1,765,524.27     13,682.23     13,682.23     15,082.75
Net assets as at 9/30/16     58,926,406     467,666.42     467,666     529,642
Share price as at 9/30/16     23.08     23.05     24.46     22.88
1-year performance through 9/30/16     18.76%     18.48%     11.65%     17.53%
3-year performance through 9/30/16     N/A     N/A     N/A     N/A
5-year performance through 9/30/16     N/A     N/A     N/A     N/A
Since inception performance 12/31/14 - 9/30/16     10.77%     10.55%     6.87%     9.65%
                         
Miller Intermediate Bond Fund    

MIFIX
Class I

   

MIFAX
Class A

   

MIFAX.lw
Class A no load

   

MIFCX
Class C

Net unrealized capital gains* - 11 months ended 9/30/16     2,888,098.94     59,775.65     59,775.65     10,668.41

Net realized long-term capital gains - 11 months ended
9/30/16

    178,722.71     2,759.96     2,759.96     755.45

Net realized short-term capital gains - 11 months ended
9/30/16

    254,200.48     2,657.75     2,657.75     552.28
Net assets as at 9/30/16     64,688,881     840,082.87     840,082.87     2,466,058
Share price as at 9/30/16     16.36     16.36     17.36     16.45
1-year performance through 9/30/16     9.52%     9.24%     2.95%     8.43%
3-year performance through 9/30/16     N/A     N/A     N/A     N/A
5-year performance through 9/30/16     N/A     N/A     N/A     N/A
Since inception performance 12/31/14 - 9/30/16     6.68%     6.48%     2.91%     6.01%

 

*Net unrealized capital gain is the difference in value between the cost basis and current market value of the financial instrument.

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 including other share classes. For performance information current to the most recent month-end, please call toll-free 877-441-4434.

Total operating expenses for the Miller Convertible Bond Fund are Class A 1.44%, Class C 1.94% and. Class I .94%.

Total operating expenses (including leverage expenses) for the Miller Convertible Plus Bond Fund are as follows: Pursuant to an expense limitation agreement, the Total Annual Fund Operating Expenses will be limited to the annualized rate of 3.20%, 3.95% and 2.95% of the average daily net assets attributable to Class A, Class C and Class I, respectively, until February 28, 2017. Total Annual Operating expenses (including leverage expenses) before the expense limitation are Class A 4.58%, Class C 5.33% and Class I 4.33%.

Total operating expenses for the Miller Intermediate Bond Fund are as follows: Pursuant to an expense limitation agreement, the Total Annual Fund Operating Expenses will be limited to the annualized rate of 1.50%, 2.25% and 1.25% of the average daily net assets attributable to Class A, Class C and Class I, respectively, until February 28, 2017. Total Annual Operating expenses before the expense limitation are Class A 2.05%, Class C 2.80% and Class I 1.80%.

About Wellesley Asset Management, Inc. Trusted advisors to a global client base, Wellesley Asset Management, Inc. (Wellesley) is an SEC registered investment advisory firm with assets under management exceeding $2 billion, serving high net-worth individuals, institutions, pensions, family offices, registered investment advisors and other investment professionals. Founded by Greg Miller, CPA and Darlene Murphy, CPA, CFP®, and now celebrating its 25th year of serving clients, Wellesley specializes in the management of convertible bonds deploying absolute return-seeking strategies.

The information has not been audited and may contain estimates. The actual distribution amounts will not be available until closer to the estimated distribute date during the month of December 2016. No Fund is a complete investment program and you may lose money investing in a Fund.

All fixed-income securities are subject to two types or risk: credit risk and interest rate risk. When the general level of interest rates goes up, the prices of most fixed-income securities go down. When the general level of interest rates goes down, the prices of most fixed income securities go up. A portion of the Fund's securities may be rated below investment grade. Lower rated fixed-income securities are subject to greater risk of loss of income and principal than higher-rated securities. The prices of lower rated bonds are likely to be more sensitive to adverse economic changes or individual corporate developments. Investments in convertible securities subject the Fund to the risks associated with both fixed-income securities and common stocks. Exchangeable and synthetic convertible securities may be more volatile and less liquid than traditional convertible securities. In general, stock and other equity security values fluctuate, and sometimes widely fluctuate, in response to activities specific to the company as well as general market, economic and political conditions. The Fund may invest a significant amount of its assets in a particular industry, market, or sector. The value of its shares may be more susceptible to adverse changes within that market or sector than a Fund that does not focus its investments.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Miller Family of Funds. Current performance information and the prospectus, which contains important information about the Miller Family of Funds, can be obtained by calling 781-416-4000. The prospectus should be read carefully before investing. The Miller Family of Funds is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Wellesley Asset Management, Inc. and Northern Lights Distributors, LLC are not affiliated.

NOT FDIC INSURED – NOT BANK GUARANTEED – MAY LOSE VALUE

2346-NLD-10/3/2016

Wellesley Asset Management, Inc.
Jay Russo, 781-416-4000
Executive Vice President
jrusso@wia.cc

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