Fund Investment Objectives

Like all AlphaClone strategies, AlphaClone International derives its holdings from institutional investor public disclosures. AlphaClone International seeks to invest in a concentrated portfolio of US-exchange foreign company American Depository Receipts (ADRs). The strategy is intended for investors with moderate to aggressive capital appreciation investment objectives. To manage overall volatility, AlphaClone International employs a dynamic hedging approach that seeks to maintain a long only posture in generally rising markets and a 50/50 long/short posture in generally declining markets. Holdings are rebalanced quarterly. This strategy is currently available in separately managed accounts only. Management Fee: 1% - 1.5%. AUM is currently not disclosed.