Trend Following Strategy Index for July 2018

Rank	CTA / Program	Performance	Inception
1	Kinkopf Capital Management KCM S&P SELECT (Managed Client Accounts)	20.14	2/1/2016
2	Insch Capital Management SA Insch Kintore (Bidirectional Gold)	4.61	2/1/2015
3	Eclipse Capital Management Alpha Asia	3.14	1/1/2015
4	Quantica Capital AG 2X Quantica Managed Futures Fund	2.80	1/1/2014
5	Tomas Capital Pty Ltd GCAF \| AUD (managed by Tomas Capital Australia Pty Ltd)	1.98	7/1/2011
6	Superfund Group Superfund Red USD SICAV	1.91	3/1/2013
7	Cauldron Investments, LLC Stock Index Plus	1.83	10/1/2009
8	Tomas Capital Pty Ltd GCAF \| USD	1.78	7/1/2011
9	Superfund Group Superfund Red EUR SICAV	1.74	3/1/2013
10	Quantica Capital AG 1X Quantica Managed Futures Fund	1.50	1/1/2014
11	Seven Capital Management Seven Absolute Return	1.21	6/1/2009
12	DeltaHedge VIXVOX 1	0.95	8/1/2015
13	Dixon Midland Company LLC Dixon Midland Diversified LLC	0.83	5/1/2011
14	Melissinos Trading Eupatrid Global Trends	0.61	1/1/2011
15	Estlander & Partners Freedom	0.60	8/1/2010
16	Helford Capital Partners LLP Helford Diversified Systematic Alpha 1	0.54	4/1/2015
17	EMC Capital Advisors, LLC EMC Alpha Program	0.51	6/1/2013
18	ISAM ISAM Systematic Trend Fund	0.39	6/1/2001
19	Capital Fund Management S.A. IS Trends Program - Series 1 (USD 10V)	0.37	1/1/2013
20	Estlander & Partners Alpha Trend II - Class P	0.33	12/1/2008
21	Chesapeake Capital Diversified Plus	0.32	4/1/1994
22	DeltaHedge VIXVOX 2	0.31	8/1/2015
23	Conquest Capital Group Conquest Select	0.00	6/1/2004
24	ROW Asset Managment Row Diversified Fund, L.P.	0.00	11/1/2011
25	Candriam Investors Group Alternative Return Systemat	0.00	1/1/2007
26	Alee Capital Management, LLC Mistral Program	-0.04	1/1/1999
27	Vivienne Investissement OUESSANT UCITS FUND (A)	-0.07	5/1/2012
28	Talenta Capital LLP Diversified	-0.13	6/1/2014
29	Dreiss Research Corporation Diversified Program	-0.30	5/1/1991
30	Salus Alpha Capital Ltd Salus Alpha Directional Markets (DMX)	-0.35	3/1/2003
31	Silicon Valley Quantitative Advisors UQP Large	-0.57	1/1/2009
32	DUNN Capital Management DUNN WMA Institutional Program	-0.63	10/1/2011
33	SEB Group SEB Asset Selection Fund C (EUR)	-0.67	10/1/2006
34	Covenant Capital Management Optimal Program	-0.69	2/1/2014
35	SinoPac Asset Management SinoPac Multi Strategy Quant Fund	-0.86	10/1/2009
36	Millburn Ridgefield Corporation Commodity Program	-0.98	3/1/2005
37	SEB Group SEB Asset Selection Opportunistic Fund C (EUR)	-1.07	6/1/2009
38	Katonah EvE LLC Multi-Strategy Program	-1.53	5/1/2014
39	Garraway Capital Management LLP Garraway Financial Trends	-1.98	9/1/2012
40	R Best LLC World Select Program	-3.09	4/1/2016
41	Prolific Capital Markets, LLC Prolific Swiss System	-3.37	1/1/2014
42	Katonah EvE LLC Long-Short Commodity Program	-3.73	6/1/2013
43	Eamon Capital Zephyr Program	-4.34	1/1/2016
44	Purple Valley Capital, Inc. Diversified Trend 1	-4.60	8/1/2008
45	Angle Capital Management LLC AIP Program	-6.08	1/1/2010
46	Worldwide Capital Strategies Profit Quest Macro World	-6.43	1/1/2010
47	Qbasis Invest Qbasis All Trends UCITS Fund	-6.98	1/1/2016
48	Qbasis Invest Qbasis i Trend Fund	-7.38	1/1/2014