Summary

The singular objective of the Fund is to maximize long-term returns for its investors by exploiting global macro and volatility opportunities. The Manager strives to achieve this by identifying situations where the collective market is prone to incorrectly assess the probability of financial market outcomes and to capitalize on these opportunities. As such, the unconstrained opportunistic strategy is agnostic to the types of events, situations, and resulting opportunities it seeks to exploit and can generally be deployed in any market environment and asset class. The strategy will be deployed across liquid futures markets including equities, interest rates, commodities, and FX. In terms of expression, the strategy can result in taking simple directional views (long or short), but can also employ explicit distribution bets via a combination of options positions (long, short, or combination). Given the nature of the investment strategy, the Manager expects an additional benefit of the strategy to be low realized equity correlation over long periods of time, though this is not guaranteed.