Kensington Dynamic Allocation Fund Surpasses $1.2 Billion (As of 10/31/25) and Earns 5-Star Overall Morningstar Rating at Five-Year Milestone

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Ranked 1% for the one-year period in Morningstar’s Tactical Allocation Category

AUSTIN, Texas, November 18, 2025 – Kensington Asset Management is proud to announce the Kensington Dynamic Allocation Fund (KAGIX) has reached its five-year anniversary, exceeding $1.2 billion in assets under management (“AUM”). The fund was also recently awarded a 5-Star Overall Morningstar Rating in the Tactical Allocation category (as of October 31, 2025) among 223 Tactical Allocation funds, based on risk-adjusted returns and is currently ranked in the top percentile among Tactical Allocation Funds for the one-year period among 242 funds for the period ending October 31, 2025, based on total return.

Since its inception in 2019, the Dynamic Allocation Fund has sought to provide investors with a risk-managed approach designed to adapt to changing market environments. Guided by Kensington’s quantitative models, the strategy tactically adjusts exposure between growth-oriented assets and defensive positions, seeking to balance participation and preservation through varying market cycles.

“We’re incredibly grateful for the trust our investors have placed in us,” said Jordan Flebotte, Portfolio Manager at Kensington Asset Management. “This recognition from Morningstar and the fund’s continued growth reaffirm our mission: to provide investors with a disciplined, risk-managed path to participate in market opportunities while helping protect against major drawdowns.”

The Fund’s disciplined, momentum-based framework enables dynamic shifts across equity and fixed income markets, allowing it to navigate both advancing and declining environments with agility and prudence.

The Kensington Dynamic Allocation Fund is available in multiple share classes through financial advisors and select platforms. For more information, please visit www.kensingtonassetmanagement.com.

About Kensington Asset Management: Kensington Asset Management specializes in active systematic strategies, built to navigate market volatility by providing innovative pathways to upside participation with a downside hedge.

Investors should consider the investment objectives, risks, charges and expenses of the Kensington Dynamic Allocation Fund (KAGIX) before investing. The Fund’s prospectus and summary prospectus contain this and other information about the Fund may be obtained by calling 1(866) 303-8623 / visiting www.kensingtonassetmanagement.com, which should be read carefully. There is no guarantee the Fund will achieve its investment objectives.   Please read carefully.  There is no guarantee any investment strategy will generate a profit or prevent a loss.

Kensington Dynamic Allocation Fund (“KAGIX”), prospectus available here. Investing in Funds involves risk, including loss of principal. Risks specific to the Dynamic Allocation Fund are detailed in the prospectus and include Management Risk, Equity Securities Risk, Market Risk, Underlying Funds Risks, Non-Diversification Risk, Small and Mid-Capitalization Companies Risk, Turnover Risk, U.S. Government Securities Risk and Models and Data Risk, Derivatives Risk, Futures Contract Risk, Short Sale Risk, Leverage Risk..

Past performance does not guarantee future results. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost.

Current performance may be lower or higher than the performance data quoted. To obtain performance data current to the most recent month-end please call (866) 303-8623 or visit our website, available here.

The Morningstar Rating™ for funds, or “star rating”, is calculated for funds and separate accounts with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. For more information about the Morningstar Rating for funds, including its methodology, please go to: www.global.morningstar.com/managerdisclosures/.

In the Tactical Allocation category, Dynamic Allocation Fund was rated 5 stars among 223 funds for the 3 year period ending 10/31/2025 and 5 stars among 203 funds for the 5 year period ending 10/31/2025. The Fund was ranked in the 15% percentile for the three year period and 7% percentile for the 5-year period among 223 and 203 funds, respectively, as of October 31, 2025.

Morningstar classifies funds into categories based on similar investment objective and strategy. Morningstar percentile rankings are based on a fund’s total return compared to its Morningstar. The highest percentile rank is 1 and the lowest is 100. Past performance does not guarantee future results.

Star ratings are relative to a peer group and do not necessarily mean the fund had high or positive total returns. Morningstar updates its star ratings monthly. Past performance does not guarantee future results.

Advisory services offered through Kensington Asset Management, LLC.

Quasar Distributors, LLC, Distributor, not affiliated with Kensington Asset Management, LLC. 

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