Basu and Braun, LLC

The fund's investment objective is short-term appreciation by investing in the foreign exchange markets via a structured approach geared toward delivering superior financial returns. The fund seeks risk-adjusted returns by engaging in “pairs trading” which involves taking a short position in securities of a particular currency while simultaneously taking a long position in another currency in an attempt to take advantage of relative valuation differences between the two. The company utilizes a computer-based algorithm to determine the timing and nature of the “paired trade.” The software was custom developed for the foreign exchange (FOREX) markets. All positions are monitored closely to ensure they are maintaining a consistent trading pattern in alignment with the Fund’s overall investment direction.