Author: Asset Investment Management

The Systematic Global Macro Program was designed to capture the high-value payoff portion of globally trending markets by blending the benefits of both momentum and probability theory. The Program has three distinct aspects: Market Profiling, Alpha Generation, and Phase Discrimination. The Program is completely quantitative, systematic, and adaptable. Long and short positions are tactically implemented and managed on a globally diverse portfolio of liquid futures markets. It is Red Rock’s aim, through the disciplined application of their Systematic Global Macro Program, to produce as high as possible risk-adjusted returns for themselves and their investors – returns that are uncorrelated to the performance of major asset classes like stocks, bonds, & real estate.

Year or YTD	Program	SP500 TR
2016	1.92	11.98
2015	10.04	1.41
2014	21.80	13.69
2013	0.22	32.41
2012	-7.73	15.98
2011	1.44	2.12
2010	7.65	15.06
2009	2.43	26.45
2008	49.73	-36.99
2007	8.58	5.50
2006	5.69	15.79
2005	-0.88	4.89
2004	13.13	10.87
2003	22.12	10.99
Average	9.72	9.30

Manager Name:	Red Rock Capital, LLC
Address:	5000 Birch Street, Suite 3000
City:	Newport Beach
State:	CA
Zip:	92660
Country:	USA

Mr. Rollinger graduated with a Bachelor of Science degree in Finance with an Economics minor from Western Michigan University in 1993.Effective March 27, 2013, Mr. Rollinger is registered with the CFTC as an Associated Person and a listed principal of the firm. Effective April 25, 2013 Mr. Rollinger is an Associated Member of the NFA

Mr. Hoffman graduated Cum Laude with a Bachelor of Science degree in Electrical Engineering from Brigham Young University in April 1987. Effective March 18, 2013, Mr. Hoffman is a listed principal of the firm. Effective March 27, 2013, Mr. Hoffman is registered with the CFTC as an Associated Person. Effective April 25, 2013, Mr. Hoffman is an Associated Member of the NFA.

Registering here provides access to

• 5,000+ Hedge Funds / UCITS Funds / Funds of Funds/Futures Advisors
• On-demand updates of monthly returns life of program
• Information on holdings, performance, assets and fees
• Direct email addresses, key principals and in-depth biographies

Your personal information will never be  released to a third party.

Contact us with your questions and we’ll provide you the answers, an objective opinion and links for additional information and/or verification.

Regards,
Peter Knight Advisor
Asset Investment Management

---

Disclosure

Millburn Diversified Program (“MDP” or the “Program”) trades a diversified portfolio of more than 100 financial and commodity futures and FX forward contracts. Positions in the instruments traded may be either long or short. This approach is quantitative and systematic, employing price, price-derivative and non-price data sources.

Year or YTD	Program	SP500 TR
2016	11.57	11.98
2015	5.57	1.41
2014	17.65	13.69
2013	-6.11	32.41
2012	-5.50	15.98
2011	-6.39	2.12
2010	12.44	15.06
2009	-7.58	26.45
2008	22.15	-36.99
2007	14.25	5.50
2006	9.06	15.79
2005	6.03	4.89
2004	-0.56	10.87
2003	3.85	28.69
2002	24.82	-22.10
2001	-4.07	-11.88
2000	14.20	-9.09
1999	0.20	21.04
1998	8.21	28.58
1997	14.74	33.38
1996	18.82	22.96
1995	30.08	37.57
1994	11.55	1.32
1993	11.90	10.08
1992	18.52	7.65
1991	8.01	30.47
1990	50.12	-3.10
Average	10.50	10.92

Mr. Beker is Co-Chief Executive Officer and Co-Chairman of Millburn Ridgefield Corporation and The Millburn Corporation. He is Co-Chairman of Millburn’s Managed Futures and Commodities Research Committee and Chairman of Millburn’s Fund-of-Hedge Funds Investment Committee. Mr. Beker has been employed by Millburn since June 1978. During his tenure at Millburn, he has been instrumental in the development of the research, trading and operations areas. Mr. Beker became a principal of the firm in 1982. From June 1975 to July 1977, Mr. Beker was employed by Loeb Rhoades, Inc. where he developed and traded silver arbitrage strategies. From July 1977 to June 1978, he was a futures trader at Clayton Brokerage Co. of St. Louis. Mr. Beker received a B.A. in economics from New York University in 1974 and a M.B.A. in finance from NYU in 1975.

Mr. Crapple is the Co-Chief Executive Officer and Co-Chairman of Millburn Ridgefield Corporation and The Millburn Corporation. He is Co-Chairman of Millburn’s Managed Futures and Commodities Research Committee and a member of Millburn’s Fund-of-Hedge Funds Investment Committee. Mr. Crapple was a lawyer with Sidley & Austin in Chicago, Illinois, from 1969 until April 1, 1983, as a partner since 1975, specializing in commodities, securities, corporate and tax law. He was first associated with Millburn in 1976 and joined Millburn on April 1, 1983 on a full-time basis. Mr. Crapple is a Director, Member of the Executive Committee, Chairman of the Appeals Committee and a former Chairman of the Eastern Regional Business Conduct Committee of the NFA, past Chairman of the Managed Funds Association, a past member of the Global Markets Advisory Committee of the CFTC and a member of the board of directors of the Futures Industry Association (FIA). In 1966, he graduated with honors from the University of Wisconsin where his field of concentration was economics and he was elected to Phi Beta Kappa. In 1969, Mr. Crapple graduated from Harvard Law School, magna cum laude, where he was a member of the Harvard Law Review.

Mr. Buckbinder is Senior Vice-President and Chief Operating Officer of Millburn Ridgefield Corporation and The Millburn Corporation. He joined Millburn in January 1998 from Odyssey Partners, L.P. where he was responsible for the operation, administration and accounting of the firm’s merchant banking and managed account businesses from mid-1990 through December 1997. Mr. Buckbinder was employed by Tucker Anthony, a securities broker and dealer, from 1985 to 1990 where he was First Vice President and Controller, and from 1983 to 1984 where he designed and implemented various operations and accounting systems. He was with the public accounting firm of Ernst & Whinney from 1984 to 1985 as a manager in the tax department and from 1980 to 1983 as a senior auditor, with an emphasis on clients in the financial services business. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants. Mr. Buckbinder graduated cum laude from Pace University in 1980 with a B.B.A. in accounting and received an M.S. in taxation from Pace in 1988.

Mr. Fitzsimmons is a Senior Vice-President of Millburn Ridgefield Corporation and The Millburn Corporation. His responsibilities at Millburn include both marketing and investment strategy. He joined Millburn in January 1990 from Morgan Stanley & Co. Incorporated where he was a Principal and Manager of institutional foreign exchange sales and was involved in strategic trading for the firm. From 1977 to 1987, he was with Chemical Bank New York Corporation, first as a Senior Economist in Chemical’s Foreign Exchange Advisory Service and later as a Vice-President and Manager of Chemical’s Corporate Trading Group. While at Chemical, he also traded both foreign exchange and fixed income products. From 1973 to 1977, Mr. Fitzsimmons was employed by the Federal Reserve Bank of New York, dividing his time between the International Research Department and the Foreign Exchange Department. He graduated summa cum laude from the University of Bridgeport, Connecticut in 1970 with a B.S. in economics. His graduate work was done at the University of Virginia, where he received a certificate of candidacy for a Ph.D. in economics in 1973.

Mr. Felsenthal is General Counsel and Chief Compliance Officer of Millburn Ridgefield Corporation, The Millburn Corporation and ShareInVest. Prior to joining Millburn Ridgefield Corporation in January 2004, Mr. Felsenthal was a senior associate in the investment management group at Schulte Roth & Zabel LLP (September 1999- January 2004), where he represented and advised hedge funds, registered investment companies, investment advisers, broker-dealers and banks in connection with all facets of their asset management businesses, and a member of the tax department of Kramer, Levin, Naftalis & Frankel LLP (October 1996- September 1999). He graduated cum laude from Yeshiva University in 1991 with a bachelor of arts degree in political science, and order of the coif from Fordham University School of Law in 1996, where he also served as an editor of the Fordham Environmental Law Journal. Mr. Felsenthal received an LL.M degree in taxation from NYU School of Law in 2001 and has written and been quoted in numerous published articles on various topics related to investment management. Mr. Felsenthal is a member of the New York State Bar and a Co-Chairman of the Managed Funds Association CPO/CTA Advisory Committee.

Mr. Goodman is Executive Vice-President and Director of Trading of Millburn Ridgefield Corporation and The Millburn Corporation. He is a member of Millburn’s Managed Futures and Commodities Research Committee, and he is a member of Millburn’s Fund-of-Hedge Funds Investment Committee. Mr. Goodman joined Millburn in 1982 as Assistant Director of Trading. Today his responsibilities include overseeing the firm’s trading operation and managing its trading relationships, as well as the design and implementation of trading systems. From 1980 through late 1982 he was a commodity trader for E. F. Hutton & Co., Inc. At Hutton, he also designed and maintained various technical indicators and coordinated research projects pertaining to the futures markets. Mr. Goodman graduated magna cum laude from Harpur College of the State University of New York in 1979 with a B.A. in economics.

Mr. Newton is a Senior Vice-President of Millburn Ridgefield Corporation and The Millburn Corporation. His primary responsibilities are in administration and marketing. Prior to joining Millburn in September 1991, Mr. Newton was President of Phoenix Asset Management, Inc., a registered commodity pool operator from April 1990 to August 1991. Prior to his employment with Phoenix, Mr. Newton was a Director of Managed Futures with Prudential-Bache Securities Inc. from September 1987 to March 1990. Mr. Newton joined Prudential-Bache from Heinold Asset Management, Inc. where he was a member of the senior management team. Heinold was a pioneer and one of the largest sponsors of funds utilizing futures and currency forward trading.

Mr. Smith is Executive Vice-President and Director of Research of Millburn Ridgefield Corporation and The Millburn Corporation. He is a member of Millburn’s Managed Futures and Commodities Research Committee. Mr. Smith joined Millburn in 1975. His responsibilities include the design, testing and implementation of quantitative trading strategies, as well as for planning and overseeing the computerized decision-support systems of the firm. He received a B.S. from the Massachusetts Institute of Technology in 1974 and an M.S from M.I.T. in 1975. While at M.I.T. he held several teaching and research positions in the computer science field and participated in various projects relating to database management.

Mr. Tanis is a Vice President, Principal Accounting Officer and Director of Operations of Millburn Ridgefield Corporation and The Millburn Corporation. He is responsible for overseeing operations and accounting for the firm’s commodity pools. He graduated from Grove City College in May 1976 with a B.A. in accounting and joined Millburn Ridgefield Corporation and The Millburn Corporation in May 1983. Prior to joining Millburn Ridgefield Corporation and its affiliates, he was with E.F. Hutton, where he was a Manager from December 1982 to April 1983; a Supervisor from August 1982 to December 1982; an International Accountant from April 1979 to August 1982; and a staff accountant from June 1978 to April 1979. As a Manager at E.F. Hutton, he was responsible for all internal and external commodity reporting. Mr. Tanis also served as a Junior Accountant and then International Staff Accountant with Merrill Lynch & Company from September 1976 to May 1978.

Registering here provides access to

• 5,000+ Hedge Funds / UCITS Funds / Funds of Funds/Futures Advisors
• On-demand updates of monthly returns life of program
• Information on holdings, performance, assets and fees
• Direct email addresses, key principals and in-depth biographies

Your personal information will never be  released to a third party.

Contact us with your questions and we’ll provide you the answers, an objective opinion and links for additional information and/or verification.

Regards,
Peter Knight Advisor
Asset Investment Management

---

Disclosure

 

 

Financial Engineering and High Frequency Trading are combined to create a completely different trading program in energy

Year or YTD	Program	SP500 TR
2016	-13.70	11.98
2015	26.27	1.41
2014	27.75	13.69
2013	-4.20	14.76
Average	9.03	10.46

Manager Name:	Advanced Arbitrage Concepts
Address:	2010 MONTEGo CT
City:	Oldsmar
State:	FL
Zip:	34677

Name:	Hendrik Steenhuysen
Position:	Principal

Registering here provides access to

• 5,000+ Hedge Funds / UCITS Funds / Funds of Funds/Futures Advisors
• On-demand updates of monthly returns life of program
• Information on holdings, performance, assets and fees
• Direct email addresses, key principals and in-depth biographies

Your personal information will never be  released to a third party.

Contact us with your questions and we’ll provide you the answers, an objective opinion and links for additional information and/or verification.

Regards,
Peter Knight Advisor
Asset Investment Management

---

Disclosure

Goldenwise aims to deliver superior absolute returns through its quantitative trading strategies. At Goldenwise, we seek to profit from global macro trends, market inefficiency and mis-pricing and to achieve absolute returns that have a low correlation to traditional asset classes. Goldenwise employs multi quantitative strategies, including: relative value long/short, volatility arbitrage, statistical arbitrage, trend following, spread trading, global macro, etc.

Year or YTD	Program	SP500 TR
2016	10.56	11.98
2015	17.79	1.41
2014	6.93	13.69
2013	15.03	32.41
2012	32.82	15.98
2011	38.03	2.12
2010	271.28	15.06
Average	56.06	13.24

Manager Name:	Goldenwise Capital Management Inc.
Address:	161 Eglinton Avenue East, Suite 504
City:	Toronto
State:
Zip:	M4P 1J5
Country:	Canada

Registering here provides access to

• 5,000+ Hedge Funds / UCITS Funds / Funds of Funds/Futures Advisors
• On-demand updates of monthly returns life of program
• Information on holdings, performance, assets and fees
• Direct email addresses, key principals and in-depth biographies

Your personal information will never be  released to a third party.

Contact us with your questions and we’ll provide you the answers, an objective opinion and links for additional information and/or verification.

Regards,
Peter Knight Advisor
Asset Investment Management

---

Disclosure

Millburn Multi-Markets Trading L.P. (“Multi-Markets”) trades a diversified portfolio of approximately 100 financial and commodity futures and FX forward contracts. Positions in the instruments traded may be either long or short. This approach is quantitative and systematic, employing price, price-derivative and non-price data sources.

Year or YTD	Program	SP500 TR
2016	12.56	11.98
2015	6.26	1.41
2014	17.43	13.69
2013	-6.64	32.41
2012	-8.44	15.98
2011	-4.18	2.12
2010	7.50	15.06
2009	-2.04	26.45
2008	30.97	-36.99
2007	13.23	5.50
2006	12.33	15.79
2005	9.04	4.89
2004	8.24	9.23
Average	7.40	9.04

Manager Name:	Millburn Corporation
Address:	411 West Putnam Avenue
City:	Greenwich
State:	CT
Zip:	06830
Country:	USA

Mr. Beker is Co-Chief Executive Officer and Co-Chairman of Millburn Ridgefield Corporation and The Millburn Corporation. He is Co-Chairman of Millburn’s Managed Futures and Commodities Research Committee and Chairman of Millburn’s Fund-of-Hedge Funds Investment Committee. Mr. Beker has been employed by Millburn since June 1978. During his tenure at Millburn, he has been instrumental in the development of the research, trading and operations areas. Mr. Beker became a principal of the firm in 1982. From June 1975 to July 1977, Mr. Beker was employed by Loeb Rhoades, Inc. where he developed and traded silver arbitrage strategies. From July 1977 to June 1978, he was a futures trader at Clayton Brokerage Co. of St. Louis. Mr. Beker received a B.A. in economics from New York University in 1974 and a M.B.A. in finance from NYU in 1975.

Mr. Crapple is the Co-Chief Executive Officer and Co-Chairman of Millburn Ridgefield Corporation and The Millburn Corporation. He is Co-Chairman of Millburn’s Managed Futures and Commodities Research Committee and a member of Millburn’s Fund-of-Hedge Funds Investment Committee. Mr. Crapple was a lawyer with Sidley & Austin in Chicago, Illinois, from 1969 until April 1, 1983, as a partner since 1975, specializing in commodities, securities, corporate and tax law. He was first associated with Millburn in 1976 and joined Millburn on April 1, 1983 on a full-time basis. Mr. Crapple is a Director, Member of the Executive Committee, Chairman of the Appeals Committee and a former Chairman of the Eastern Regional Business Conduct Committee of the NFA, past Chairman of the Managed Funds Association, a past member of the Global Markets Advisory Committee of the CFTC and a member of the board of directors of the Futures Industry Association (FIA). In 1966, he graduated with honors from the University of Wisconsin where his field of concentration was economics and he was elected to Phi Beta Kappa. In 1969, Mr. Crapple graduated from Harvard Law School, magna cum laude, where he was a member of the Harvard Law Review.

Mr. Buckbinder is Senior Vice-President and Chief Operating Officer of Millburn Ridgefield Corporation and The Millburn Corporation. He joined Millburn in January 1998 from Odyssey Partners, L.P. where he was responsible for the operation, administration and accounting of the firm’s merchant banking and managed account businesses from mid-1990 through December 1997. Mr. Buckbinder was employed by Tucker Anthony, a securities broker and dealer, from 1985 to 1990 where he was First Vice President and Controller, and from 1983 to 1984 where he designed and implemented various operations and accounting systems. He was with the public accounting firm of Ernst & Whinney from 1984 to 1985 as a manager in the tax department and from 1980 to 1983 as a senior auditor, with an emphasis on clients in the financial services business. He is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants. Mr. Buckbinder graduated cum laude from Pace University in 1980 with a B.B.A. in accounting and received an M.S. in taxation from Pace in 1988.

Mr. Fitzsimmons is a Senior Vice-President of Millburn Ridgefield Corporation and The Millburn Corporation. His responsibilities at Millburn include both marketing and investment strategy. He joined Millburn in January 1990 from Morgan Stanley & Co. Incorporated where he was a Principal and Manager of institutional foreign exchange sales and was involved in strategic trading for the firm. From 1977 to 1987, he was with Chemical Bank New York Corporation, first as a Senior Economist in Chemical’s Foreign Exchange Advisory Service and later as a Vice-President and Manager of Chemical’s Corporate Trading Group. While at Chemical, he also traded both foreign exchange and fixed income products. From 1973 to 1977, Mr. Fitzsimmons was employed by the Federal Reserve Bank of New York, dividing his time between the International Research Department and the Foreign Exchange Department. He graduated summa cum laude from the University of Bridgeport, Connecticut in 1970 with a B.S. in economics. His graduate work was done at the University of Virginia, where he received a certificate of candidacy for a Ph.D. in economics in 1973.

Mr. Felsenthal is General Counsel and Chief Compliance Officer of Millburn Ridgefield Corporation, The Millburn Corporation and ShareInVest. Prior to joining Millburn Ridgefield Corporation in January 2004, Mr. Felsenthal was a senior associate in the investment management group at Schulte Roth & Zabel LLP (September 1999- January 2004), where he represented and advised hedge funds, registered investment companies, investment advisers, broker-dealers and banks in connection with all facets of their asset management businesses, and a member of the tax department of Kramer, Levin, Naftalis & Frankel LLP (October 1996- September 1999). He graduated cum laude from Yeshiva University in 1991 with a bachelor of arts degree in political science, and order of the coif from Fordham University School of Law in 1996, where he also served as an editor of the Fordham Environmental Law Journal. Mr. Felsenthal received an LL.M degree in taxation from NYU School of Law in 2001 and has written and been quoted in numerous published articles on various topics related to investment management. Mr. Felsenthal is a member of the New York State Bar and a Co-Chairman of the Managed Funds Association CPO/CTA Advisory Committee.

Mr. Goodman is Executive Vice-President and Director of Trading of Millburn Ridgefield Corporation and The Millburn Corporation. He is a member of Millburn’s Managed Futures and Commodities Research Committee, and he is a member of Millburn’s Fund-of-Hedge Funds Investment Committee. Mr. Goodman joined Millburn in 1982 as Assistant Director of Trading. Today his responsibilities include overseeing the firm’s trading operation and managing its trading relationships, as well as the design and implementation of trading systems. From 1980 through late 1982 he was a commodity trader for E. F. Hutton & Co., Inc. At Hutton, he also designed and maintained various technical indicators and coordinated research projects pertaining to the futures markets. Mr. Goodman graduated magna cum laude from Harpur College of the State University of New York in 1979 with a B.A. in economics.

Mr. Newton is a Senior Vice-President of Millburn Ridgefield Corporation and The Millburn Corporation. His primary responsibilities are in administration and marketing. Prior to joining Millburn in September 1991, Mr. Newton was President of Phoenix Asset Management, Inc., a registered commodity pool operator from April 1990 to August 1991. Prior to his employment with Phoenix, Mr. Newton was a Director of Managed Futures with Prudential-Bache Securities Inc. from September 1987 to March 1990. Mr. Newton joined Prudential-Bache from Heinold Asset Management, Inc. where he was a member of the senior management team. Heinold was a pioneer and one of the largest sponsors of funds utilizing futures and currency forward trading.

Mr. Smith is Executive Vice-President and Director of Research of Millburn Ridgefield Corporation and The Millburn Corporation. He is a member of Millburn’s Managed Futures and Commodities Research Committee. Mr. Smith joined Millburn in 1975. His responsibilities include the design, testing and implementation of quantitative trading strategies, as well as for planning and overseeing the computerized decision-support systems of the firm. He received a B.S. from the Massachusetts Institute of Technology in 1974 and an M.S from M.I.T. in 1975. While at M.I.T. he held several teaching and research positions in the computer science field and participated in various projects relating to database management.

Mr. Tanis is a Vice President, Principal Accounting Officer and Director of Operations of Millburn Ridgefield Corporation and The Millburn Corporation. He is responsible for overseeing operations and accounting for the firm’s commodity pools. He graduated from Grove City College in May 1976 with a B.A. in accounting and joined Millburn Ridgefield Corporation and The Millburn Corporation in May 1983. Prior to joining Millburn Ridgefield Corporation and its affiliates, he was with E.F. Hutton, where he was a Manager from December 1982 to April 1983; a Supervisor from August 1982 to December 1982; an International Accountant from April 1979 to August 1982; and a staff accountant from June 1978 to April 1979. As a Manager at E.F. Hutton, he was responsible for all internal and external commodity reporting. Mr. Tanis also served as a Junior Accountant and then International Staff Accountant with Merrill Lynch & Company from September 1976 to May 1978.

Registering here provides access to

• 5,000+ Hedge Funds / UCITS Funds / Funds of Funds/Futures Advisors
• On-demand updates of monthly returns life of program
• Information on holdings, performance, assets and fees
• Direct email addresses, key principals and in-depth biographies

Your personal information will never be  released to a third party.

Contact us with your questions and we’ll provide you the answers, an objective opinion and links for additional information and/or verification.

Regards,
Peter Knight Advisor
Asset Investment Management

---

Disclosure

WMA is a 100% systematic medium to long-term trend following program, encompassing a portfolio of financial, energy, metal and agricultural futures markets. The investment objective of DUNN’s WMA Program is to extract profits from up & down-trends, resulting in a return stream that exhibits very low correlation with traditional asset classes. WMA is available onshore and offshore as a private or pooled account.

Year or YTD	Program	SP500 TR
2016	-5.39	11.98
2015	10.91	1.41
2014	35.67	13.69
2013	34.16	32.41
2012	-18.63	15.98
2011	6.37	2.12
2010	30.64	15.06
2009	0.04	26.45
2008	51.47	-36.99
2007	7.94	5.50
2006	3.08	15.79
2005	-16.39	4.89
2004	-16.69	10.87
2003	-13.40	28.69
2002	54.05	-22.10
2001	1.12	-11.88
2000	13.07	-9.09
1999	13.33	21.04
1998	13.73	28.58
1997	44.60	33.38
1996	58.19	22.96
1995	98.66	37.57
1994	-19.32	1.32
1993	60.25	10.08
1992	-21.78	7.65
1991	16.91	30.47
1990	51.57	-3.10
Average	18.30	10.92

Manager Name:	DUNN Capital Management, Inc.
Address:	309 SE Osceola St., Suite 350
City:	Stuart
State:	FL
Zip:	34994
Country:	USA

William A. Dunn, Ph.D., born 1934, is the Chairman and Treasurer of DUNN and the grantor of a trust that owns 100% of the stock of DUNN. He received a Bachelor of Science in Engineering Physics degree from the University of Kansas in 1960 and a Doctor of Philosophy in Theoretical Physics degree from Northwestern University in 1966. Since 1971, Dr. Dunn has been engaged in the research and development of the commodity portfolio management systems used by DUNN. During 1965 and 1966, he held research and faculty positions with the University of California and Pomona College. From 1967 through November 1974 he was employed by several contract research organizations in the Washington, D.C. area where he conducted operations research and systems analysis studies for the Navy, Marine Corps, Coast Guard and Department of Defense. Dr. Dunn was an Associated Person (“AP”) with the Liberty Funds Group from December 1986 through June 1990 and with William L. Crowley & Associates Inc. from May 1987 through October 1990. Dr. Dunn was a principal of Professional Futures Group, Inc. (“PFG”), an introducing broker, from March 1990 to May 1999. In September 1995, he became President of the newly formed CTA, MMM. From December 1994 to August 1997 Dr. Dunn was the President of Orion Futures, Inc. (“OFI”) a CPO and CTA.

Pierre M. Tullier, born 1945, became general manager of DUNN in September 1979 and was promoted to Vice President in June 1982 and to President in September 1996. As President, he oversees DUNN’s trading operations and computer systems and is actively engaged in DUNN’s systems research programs. Mr. Tullier received a Bachelor of Science in Mathematics degree from Georgetown University in 1967 and a Master of Science in Operations Research degree from George Washington University in 1970. From 1971 until joining DUNN, Mr. Tullier was employed by ORI, Inc. and ARINC Research Corporation, contract research firms in the Washington, D.C. area, where he participated in operations research and systems analysis studies for the Navy and Coast Guard. Mr. Tullier was the Senior Vice President of MMM from August 1997 to January 2001.

Daniel E. Dunn, Ph.D., M.D., born 1961, first joined DUNN as a programmer/analyst in 1975. In 1982, he earned a Bachelor of Arts in Biological Sciences degree from the University of Virginia, Phi Beta Kappa; in 1988 he earned a Ph.D. in Immunology from the University of Chicago and, in 1990, an M.D. degree from the same institution. He subsequently trained, taught, and conducted post-doctoral research at Stanford University, the National Institutes of Health, and Johns Hopkins University; most recently, he was made an Assistant Professor at the University of Utah. He has published over 20 articles and chapters in peer-reviewed journals and textbooks. In March 1999, he rejoined DUNN as a Senior Associate and also assumed the position of Vice President with MMM. In November 1999 Dr. Daniel Dunn was promoted to Vice President and to Executive Vice President of DUNN in January 2001. He was promoted to Chief Executive Officer of DUNN in December 2003.

James R. Dailey, born 1972, joined DUNN in March 2003 as a Financial Analyst, was promoted to Vice President of Finance in February 2007 and was promoted to CFO in December 2008. Mr. Dailey earned a Bachelor of Science in Business Administration degree from The Pennsylvania State University in 1994. He became a Certified Public Accountant in 1995. From February 1995 to August 1998, Mr. Dailey was employed at the public accounting firm Holmes Lowry Horn & Johnson Ltd. Mr. Dailey left Holmes Lowry Horn & Johnson for graduate school. Mr. Dailey attended the University of Maryland from August 1998 to May 2000, graduating with a Master of Business Administration degree. Upon graduation, Mr. Dailey joined Marriott International, Inc., a hotel management company, where he worked as Manager of Corporate Financial Planning and Analysis from June 2000 until leaving in February 2003 to join DUNN. Mr. Dailey has been listed as a Principal of DUNN since March 13, 2007 and registered as an Associated Person of DUNN since November 17, 2003.

Martin H. Bergin, born 1960, joined DUNN in September 1997 as Accounting Systems Manager and was promoted to Vice President & Chief Financial Officer in March 2001. In May 2007, Mr. Bergin was promoted to President while retaining the position of Chief Financial Officer. In December 2008, Mr. Bergin relinquished the position of CFO. Mr. Bergin became the Assistant Secretary of Martin Money Management, Inc. (MMM) a CPO & CTA in July 2001, and was the Vice President and Sole Director of MMM from January 2005 until November 2005. Mr. Bergin earned a Bachelor of Science in Business Administration degree from George Mason University in 1987. He became a Certified Public Accountant in 1988. From June 1987 to October 1989 he was employed by the public accounting firm Sullivan and Company, Ltd. Mr. Bergin left his position as a partner with Homes Lowry Horn & Johnson, Ltd., a public accounting firm, with whom he had been employed from October 1989 to September 1997 immediately prior to joining DUNN. Mr. Bergin has been listed as a Principal of DUNN since September 20, 2001 and as an Associated Person of DUNN since January 11, 2002.

Daniel E. Dunn, Ph.D., M.D., born 1961, first joined DUNN as a programmer/analyst in 1975. In 1982, he earned a Bachelor of Arts in Biological Sciences degree from the University of Virginia, Phi Beta Kappa; in 1988 he earned a Ph.D. in Immunology from the University of Chicago and, in 1990, an M.D. degree from the same institution. He subsequently trained, taught and conducted post-doctoral research at Stanford University from June 1990 through June 1993, the National Institutes of Health from July 1993 to January 1999 and at Johns Hopkins University during 1994 and was named an Assistant Professor at the University of Utah from March 1999 to May 1999. Dr. Dunn has published over 20 articles and chapters in peer-reviewed journals and textbooks. In March 1999, he rejoined DUNN as a Senior Associate. In August of 1999, he assumed the position of Vice President at Martin Money Management, Inc. (MMM) a CPO & CTA and currently holds the positions of President and Sole Director. Dr. Dunn has been listed as a Principal of MMM since November 8, 1999 and registered as an Associated Person of MMM since July 14, 2000. In November 1999, Dr. Dunn was promoted to Vice President, then to Executive Vice President of DUNN in January 2001 and held the position of Chief Executive Office of DUNN from December 2003 through December 2006. He currently holds the title of Vice President, Systems Analyst at DUNN.

Carlos G. Alvarez, born 1959, joined DUNN as Senior Trader in January 1998 and was promoted to Vice President in December 2002. Mr. Alvarez received a Bachelor of Arts in Economics degree from the University of Colorado in 1982. Mr. Alvarez became Vice President of Martin Money Management, Inc. (MMM) a CPO & CTA in November 2005 where he has been listed as a Principal and registered as an Associated Person since November 7, 2005. Mr. Alvarez has been listed as a Principal of DUNN since May 24, 2003 and registered as an Associated Person of DUNN since February 24, 1998.

Registering here provides access to

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Regards,
Peter Knight Advisor
Asset Investment Management

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Disclosure

SMN Investment Services launched the SMN Diversified Futures Strategy in October 1996. Two classical trend following systems were used which were developed between 1990 and 1994 by two of the company’s founders. Since then, the systems were modified and adjusted several times according to results of in-house research and development activities. In November 2006 all strategies with a short-term trading horizon were dismissed due to fundamental changes in market behaviour shifting the focus of the smn trading approach towards purely long-term trend following. In November 2007 a risk overlay system was implemented reducing stepwise the exposure actuated by intensity of the correlation and the level of adverse volatility. The most recent system modification significantly increased the number of markets traded by adding synthetic markets. These markets take advantage of relative price movements in fundamentally correlating markets. At the moment, more than 150 markets in 10 sectors are traded. All systems in use are proprietary by SMN Investment Services.

Year or YTD	Program	SP500 TR
2016	-8.73	11.98
2015	0.92	1.41
2014	57.29	13.69
2013	-7.15	32.41
2012	-20.11	15.98
2011	-7.77	2.12
2010	16.01	15.06
2009	-15.88	26.45
2008	58.53	-36.99
2007	13.56	5.50
2006	6.06	15.79
2005	-3.67	4.89
2004	-8.77	10.87
2003	33.89	28.69
2002	16.52	-22.10
2001	8.11	-11.88
2000	7.54	-9.09
1999	-3.30	21.04
1998	16.79	28.58
1997	12.55	33.38
1996	7.70	5.43
Average	8.58	9.20

Manager Name:	SMN Investment Services GmbH
Address:	Rotenturmstrasse 16-18
City:	Vienna
State:
Zip:	A-1010
Country:	Austria

Alexander Svoboda, From 1989 through 1996 gained professional experience in investment research and trading in equities and futures. One of the founders of smn, from 1997-2004 Managing Director smn Ltd., Bermuda. Now Director of the Board.

David Railton,  From 1984 through 2002 was employed in various Treasury functions at local banks and in an international group. In 2003 he joined smn Ltd., Bermuda, as an Executive Vice President and since 2004 as Managing Director.

Christian Mayer,  Since 1988 professional experience in servicing institutional customers and in general management. He is one of the founders of smn and acts as spokesman for smn Group.

Michael Neubauer, Since 1989 professional experience in trading in equity, derivatives and managed futures. One of the founders of smn, he is responsible for accounting, controlling and risk management in the field of managed futures.

Gernot Heitzinger, Since 1990 professional experience in mutual fund and institutional portfolio management, as well as leading management positions in different areas of asset management. He is responsible for client relations.

Registering here provides access to

• 5,000+ Hedge Funds / UCITS Funds / Funds of Funds/Futures Advisors
• On-demand updates of monthly returns life of program
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Your personal information will never be  released to a third party.

Contact us with your questions and we’ll provide you the answers, an objective opinion and links for additional information and/or verification.

Regards,
Peter Knight Advisor
Asset Investment Management

---

Disclosure

The Global Directional Portfolio is a diversified, multi-strategy managed futures program, combining fundamental, mean reversion and momentum analysis. The program is a composite of strategies that perform best during different market periods, and tend not to perform poorly at the same time. With a robust operational and risk management platform at its core, its trading strategy invests across a diversified group of over 94 global futures markets spanning all four major market sectors (commodities, currencies, equity indices and interest rates).

Year or YTD	Program	SP500 TR
2016	11.10	11.98
2015	-1.91	1.41
2014	34.20	13.69
2013	-5.73	32.41
2012	-8.12	15.98
2011	-14.44	2.12
2010	18.73	15.06
2009	-5.57	26.45
2008	25.31	-36.99
2007	11.00	5.50
2006	15.21	15.79
2005	14.63	4.89
2004	10.34	9.27
Average	8.06	9.04

Manager Name:	Welton Investment Partners LLC
Address:	Eastwood Building San Carlos between 5th and 6th P.O. Box 6147
City:	Carmel
State:	CA
Zip:	93921-6147
Country:	USA

Mr. Welton oversees all internal departments, with an emphasis on trading and risk management. He was a National Futures Association (NFA) Board of Director from 1997-2000. Mr. Welton has spoken at conferences, authored articles, participated in panel presentations and served on committees for the Managed Funds Association (MFA) and the NFA. He is also an investment committee member of a California pension plan and an endowment. Mr. Welton holds undergraduate, doctoral and postdoctoral degrees from the University of Wisconsin, UCLA and Stanford University respectively. Mr. Welton co-founded Welton in 1988 and has been registered as an Associated Person with Welton Investment Corporation since January 1989 and listed as a Principal with Welton Investment Corporation since January 1989. He has also been registered as an Associated Person with an affiliated entity Welton Global Funds Management Corporation since February 1996 and listed as a Principal with Welton Global Funds Management Corporation since February 1996. The main business of Welton Global Funds Management Corporation is to function as a commodity pool operator.

Mr. Balas oversees the firm’s proprietary research directives, managing groups of specialists within Information Technology, Trading and Applied Sciences. He is also a member of Welton’s portfolio management team. Mr. Balas formerly worked as an independent equity options trader, a proprietary equity trader with Bright Trading, and serves as the Chief Operating Officer of Monarch Media, a multi-media corporation. Mr. Balas holds the CAIA designation and earned a BA from UC Santa Cruz.

Mr. Nowlin oversees the Core Services Group which has as its mandate the proper management of the firm’s trade processing, investor relations, regulatory compliance, internal review and administrative operations. He earned an MBA from Santa Clara University and a BA from Westmont College. Mr. Nowlin joined Welton in 1993 and has been registered as an Associated Person with Welton Investment Corporation since June 1994 and listed as a Principal with Welton Investment Corporation since February 2000.

Mr. Bell is an independent Director of Welton Investment Corporation’s board of directors. In his role, he provides independent feedback to the board and oversight of management. Mr. Bell has been the Founder and Managing Member of Arthur F. Bell, Jr. & Associates, L.L.C., Certified Public Accountants, since 1974. Mr. Bell has over 37 years of experience in the alternative investment world and has been an active member of the MFA Executive Committee and Board of Directors since 1994. Mr. Bell was also a member of the CFTC’s Global Markets Advisory Committee. He is currently a member of the Futures Industry Association Editorial Advisory Board, the American Institute of Certified Public Accountants (AICPA), the Pension Research Accounting Group (PRAG) based in London, the Alternative Investment Management Association (AIMA) also based in London, and is on numerous industry committees and working groups. Mr. Bell is a graduate of Johns Hopkins University and a licensed CPA in Maryland and New York. He has been listed as a Principal with Welton Investment Corporation since June 2011.

Registering here provides access to

• 5,000+ Hedge Funds / UCITS Funds / Funds of Funds/Futures Advisors
• On-demand updates of monthly returns life of program
• Information on holdings, performance, assets and fees
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Your personal information will never be  released to a third party.

Contact us with your questions and we’ll provide you the answers, an objective opinion and links for additional information and/or verification.

Regards,
Peter Knight Advisor
Asset Investment Management

Key Trends is a medium-to-long-term systematic trading system, investing in the most liquid global futures markets, aiming to outperform traditional CTAs. Based on its innovative probabilistic model, Key Trends is able to detect establishing trends quickly, to characterize high potential established trends, as well as detecting trend reversals sooner, thus elevating Key Trends’ profit potential versus its peers. Moreover, thanks to a unique “Global Economic Factor” (GEF), Key Trends is able to assess the strength of global economic trends in order to optimize its portfolio exposure.

Year or YTD	Program	SP500 TR
2016	-1.15	11.98
2015	5.16	1.41
2014	46.06	13.69
2013	1.01	32.41
2012	-6.63	15.98
2011	9.05	2.12
2010	43.76	15.06
Average	13.89	13.24

Manager Name:

KeyQuant SAS

Registering here provides access to

Employee information is not available.

• 5,000+ Hedge Funds / UCITS Funds / Funds of Funds/Futures Advisors
• On-demand updates of monthly returns life of program
• Information on holdings, performance, assets and fees
• Direct email addresses, key principals and in-depth biographies

Your personal information will never be  released to a third party.

Contact us with your questions and we’ll provide you the answers, an objective opinion and links for additional information and/or verification.

Regards,
Peter Knight Advisor
Asset Investment Management

---

Disclosure

The Global Diversified program’s trading strategy is ultra-long term model based trend following. No fundamental analysis is utilized. The strategy is not based on analysis of supply and demand factors, general economic factors or world events. The GD system generates its own entry and exit signals and trades both sides of the market (long and short). The GD system is very long term in time-frame focus. The GD system attempts to locate potentially profitable performance characteristics across a wide range of markets. Approximately 27 domestic and international commodity interests may be traded. Six of these may either be long or short interest rate contracts reflecting interest rates in Europe, the US and Australia. All markets are traded with equal parameters. SWMI reserves the right to make adjustments in the exact entry or exit price the program uses, or to delay entry or exit on any order, in order to attempt to reduce the impact of slippage. The balance of the commodity interests followed are currencies, grains, metals, softs and energies. The program utilizes one long-term time-frame model. It should be noted that there will be times when there is significant correlation between markets within a market sector or between market sectors, possibly in an adverse direction to positions held in a client’s account. Clients of this program should be aware that this factor alone, although there are others, will lead to periods of extreme volatility and possibly very large drawdowns in an account’s equity.

Year or YTD	Program	SP500 TR
2016	6.56	11.98
2015	0.16	1.41
2014	44.94	13.69
2013	-16.50	32.41
2012	11.09	15.98
2011	-11.61	2.12
2010	24.65	15.06
2009	-11.63	26.45
2008	55.24	-36.99
2007	8.58	5.50
2006	14.82	15.79
2005	-11.51	4.89
2004	-1.69	10.87
2003	8.37	28.69
2002	5.13	-22.10
Average	8.57	8.38

Manager Name:	Southwest Managed Investments, LLC
Address:	106 E. Sixth Street
City:	Austin
State:	TX
Zip:	78701
Country:	USA

Jonathan Teer,  The Manager received a Bachelors of Business Administration from The University of Texas at Austin in 1982. Since 1988, the Manager has been involved in the futures industry and with futures trading on a full time basis. From June, 1988 to February, 1989, the Manager worked for International Futures Strategists Inc., a registered IB, CTA and Commodity Pool Operator. The Manager was egistered as an AP of IFS from July, 1988 through February, 1989. He was registered as a Branch Office Manager of IFS from November, 1988 through February, 1989. While with IFS, the Manager evaluated the performance of various CTAs, raised and allocated client funds to be managed by a few chosen advisors. International Futures Strategists Inc. is no longer registered with the CFTC. From February, 1989 through June, 1989, The Manager was affiliated with Kaiser Financial Group, a registered IB, in a similar capacity. The Manager was registered as an AP and a Branch Office Manager of Kaiser from April, 1989 through May, 1989. Kaiser Financial Group is no longer registered with the CFTC. In June, 1989, the Manager became a guaranteed IB for Rosenthal Collins, a registered Futures Commission Merchant. The Manager managed various systematic trend following CTAs for his clients’ accounts. In December 1990, the Manager terminated his relationship with Rosenthal Collins and withdrew his IB registration. In October, 1990, the Manager began trading his own account along with a small number of various private accounts. Commencing in November 1991 and continuing through December, 1992, the Manager devoted his time and energies principally to developing, analyzing, testing, and refining trading strategies and methodologies. In November, 1992, the Manager became registered as a CTA for the purpose of offering his trading services to the public. Beginning in November, 1992 the Manager operated as a sole proprietor under the name FF & CG Capital Management, trading his own account and client accounts. In May, 1996, the Manager also registered FF & CG Capital Management as an IB for the purpose of placing client funds with third party CTAs. Since 1992, The Manager’s primary focus and specific area of expertise has been in model development of trend following systems, along with the execution of the same. The Manager was registered with the CFTC, as a listed principal of the Advisor, on July 27, 2010.

Vince Batla,  In May of 1993, the Manager was introduced to futures and commodity trading when he opened a managed futures account with FF&CG Capital Management, an Introducing Broker. The Manager began exploring, testing, and developing specific methodologies for trading futures and commodity contracts. After years of research, the Manager concluded that a systematic trend following diversified approach offered the most potential as opposed to the many other methodologies he researched and studied. From January 2002 to the present, The Manager has actively traded SWMI’s proprietary trading model in various private clients’ accounts. The Manager’s focus regarding trading method development has been directed to purely trading this program with no regard to any fundamental considerations. Additional focus, with regard to portfolio selection and time frame, has been directed to minimize drawdown while maintaining a smooth equity curve. The Manager’s primary focus and specific area of expertise has been in model development of trend following systems, along with the execution of the same. The Manager became registered as an Associated Person of FF&CG Capital Management on February 14, 2005, and became registered as a Branch Manager of FF&CG Capital Management on October 31, 2005. His AP and Branch Manager registrations with FF&CG Capital Management were withdrawn on June 22, 2010. He has also been registered as a CTA since February 8, 2005, although no business was conducted under that name. Mr. Batla became an AP of SWMI on July 28, 2009. Mr. Batla was approved as the principal of SWMI on July 21, 2009.

Registering here provides access to

• 5,000+ Hedge Funds / UCITS Funds / Funds of Funds/Futures Advisors
• On-demand updates of monthly returns life of program
• Information on holdings, performance, assets and fees
• Direct email addresses, key principals and in-depth biographies

Your personal information will never be  released to a third party.

Contact us with your questions and we’ll provide you the answers, an objective opinion and links for additional information and/or verification.

Regards,
Peter Knight Advisor
Asset Investment Management

---

Disclosure