BEAM Bayesian Efficient

Asset Mgmt, LLC (Comm-Prop)

Fund Investment Objectives

The COMMODITIES Program is a systematic global investment strategy. The program typically has low correlations to other active and passive investment programs because of its use of proprietary Bayesian formulation to forecasting, portfolio optimization and risk management. The program incorporates forecasting errors into its learning process and makes adjustments in the portfolio to adapt to structural changes occurring in the markets. It is designed to provide portable scalable alpha with superior risk-adjusted long-term returns. The portfolio takes futures positions in the energy complex. Returns are based on proforma adjustments to a proprietary account to reflect fees. Client accounts will be traded in like fashion.