Arrow Strengthens Focus on Alternatives and ETFs With Key Distribution Hire

  Arrow Investment Advisors, LLC, the advisor to Arrow Funds and ArrowShares, is pleased to announce that John Cadigan has joined the firm as National Sales Manager. Cadigan brings more than 25 years of financial services industry experience to the role, having established effective sales distribution teams for both traditional and alternative investments. Prior to joining Arrow, he most recently served as Managing Director/National Sales Manager for Direxion Funds.

"John has an impressive track record of helping boutique asset managers to build strong partnerships at the national accounts level," says Jake Griffith, Arrow's President and Sales Director. "His expertise in educating the financial advisor community about the potential benefits of alternative investments, along with his ETF acumen, will be beneficial as Arrow continues to deliver non-traditional investment solutions aimed at helping advisors manage risk."

While at Direxion, Cadigan developed the distribution strategy for the firm's alternative and ETF lineup within the Broker/Dealer and Registered Investment Advisor (RIA) channels, as well as the retail and institutional investor marketplaces. He also spent more than ten years at Rydex Investments where he helped to establish the firm as an early entrant in the alternative investment mutual funds space. In addition to his distribution responsibilities, Cadigan has served as a portfolio strategist charged with providing financial advisor education on alternative investments and ETFs through various speaking and media engagements.

"Arrow has done a tremendous job of delivering solutions to help financial advisors meet some of today's more thematic investment challenges -- such as addressing the ongoing search for competitive yield with the launch of the Arrow Dow Jones Global Yield ETF (NYSE: GYLD)," says Cadigan. "I'm excited to join the team and help deepen relationships within the advisor community through an emphasis on client needs and creative partnerships."

About Arrow Investment Advisors

Arrow Investment Advisors, LLC, the advisor to Arrow Funds and ArrowShares, is an asset management firm specializing in tactical and alternative investments. Arrow is dedicated to helping advisors and clients achieve their goals through research, education and portfolio solutions designed for ever-changing markets. In addition to the Arrow Dow Jones Global Yield ETF (NYSE: GYLD), Arrow offers five mutual funds: Arrow Alternative Solutions Fund (NASDAQ: ASFFX) Class A, (NASDAQ: ASFTX) Class C; Arrow Commodity Strategy Fund (NASDAQ: CSFFX) Class A, (NASDAQ: CSFTX) Class C; Arrow DWA Balanced Fund (NASDAQ: DWAFX) Class A, (NASDAQ: DWATX) Class C; Arrow DWA Tactical Fund (NASDAQ: DWTFX) Class A, (NASDAQ: DWTTX) Class C; and Arrow Managed Futures Strategy Fund (NASDAQ: MFTFX) Class A, (NASDAQ: MFTTX) Class C.

To learn more about Arrow's mutual funds, visit www.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 for loss of principal. An investor should consider the fund's investment objective, charges, expenses and risks carefully before investing. This and other information about the fund is contained in the fund's prospectus, which can be obtained by calling 1-877-277-6933. Distributed by Northern Lights Distributors, LLC (member FINRA). Northern Lights Distributors, LLC is an unaffiliated entity from Arrow Investment Advisors, LLC.

The Arrow Dow Jones Global Yield ETF may not be suitable for all investors. The fund is new and has a limited performance record. The fund may not replicate the exact performance of the benchmark because of fees, expenses, trading costs and portfolio tracking error. Exchange traded products are bought and sold at market price, not NAV, and are not individually redeemed from the fund. Buying and selling shares generally results in brokerage commissions, which will reduce returns. Fixed income securities may be subject to risks associated with interest rate fluctuations. International investments may involve additional risks, including, but not limited to, currency fluctuation, differences in generally accepted accounting principles, economic differences and political instability. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Changes in laws, domestically or abroad, could result in the inability of the fund to operate as described in the prospectus. Narrowly focused investments may be subject to higher volatility. High-yielding stocks and non-investment grade bonds are often higher-risk investments, which may be subject to greater volatility due to such factors as corporate developments, interest rate sensitivity, negative perceptions whether factual or not, and adverse economic conditions. Master Limited Partnerships (MLPs) and Royalty Investment Trusts (RITs) have specific risks, including, among others, limited voting rights, energy demand, limited call rights of the general partner and changes in tax laws. In order to qualify for the tax treatment of a regulated investment company (RIC), the fund's exposure to MLPs cannot exceed 25%, or the fund may be subject to corporate tax status, which would reduce the overall performance. Investments in securities of real estate companies involve risks, including, among others, adverse changes in national, state or local real estate conditions domestically or abroad; obsolescence of properties; changes in the availability, cost and terms of mortgage funds; and the impact of changes in environmental or tax laws. There is no guarantee that this investment will achieve its objectives, goals, generate positive returns, or avoid losses.

1244-NLD-5/21/2013