New Alternatives Fund – Investing Responsibly

New Alternatives Fund is a Socially Responsible Mutual Fund focused on renewable energy and the environment. We seek investments in listed companies that have a positive impact on the environment.

SOLAR

Solar power is rapidly becoming competitive with conventional electric power in many areas around the world.

WIND

Wind power is one of the lowest-priced energy technologies of any kind available around the world today.

HYDRO

Hydroelectric power is one of the oldest and most widely used forms of renewable energy in the world.

CONSERVATION

Energy conservation is one of the most effective and efficient ways to reduce harm to the environment from energy generation.

We invest in Solar, modern Wind Turbines and Hydro Power, Biomass, Energy Conservation, Fuel Cells, Recycling, Clean Water and Natural Foods. Hydro Electric, Wind and Geothermal Power are old and efficient alternative energy sources. All of these sources make for a cleaner environment and reduce the use of fossil fuels.

For a complete list of companies we invest in please view the list of our holdings.

Performance

A Shares (NALFX)

Average Annual Total Returns as of 03/31/2023
1 Year	3 Years	5 Years	10 Years
-10.59%	15.19%	12.63%	11.23%
-13.73%^*	13.82%^*	11.84%^*	10.69%^*

Gross Expense Ratio (12/31/2022) - 0.89%

^*Load adjusted. Max. load 3.5%

Investor Shares (NAEFX)

Average Annual Total Returns as of 03/31/2023
1 Year	3 Years	5 Years	10 Years
-10.82%	14.90%	12.36%	–*

* Date of Inception 12/31/2014

Gross Expense Ratio (12/31/2022) - 1.14%

No Net Expense or Subsidy for both share classes.

Energy for the Future

New Alternatives Fund invests in companies that are developing the renewable energy sources for the future and creating a sustainable economy.

Risks

Read and understand the risks, charges and expenses before investing. The fund urges shareholders to review the fund’s holdings. Our list of holdings includes links to the websites of each holding. Make sure to download the April 2023 Prospectus.

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Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost; and the current performance may be lower or higher than the performance data quoted. Please call 800-423-8383 for the most recent month-end performance.

The principal distributor is Foreside Funds Distributors, LLC.
The co-distributor is Accrued Equities, Inc.