Beryl Investment Group, LLC

(Nominal Discretionary)

Fund Investment Objectives

COMMODITY INTERESTS (NOMINAL DISCRETIONARY SYSTEM): Anthony Beryl's main objective is to achieve the appreciation of his clients' assets through speculative trading of commodity assets. His decisions are based on a complex combination of many factors, such as technical indicators (which he bases upon research and pattern analysis of historical price fluctuation, not fundamental supply and demand), money management principles, and his overall experience and judgment regarding various market factors and conditions. He relies heavily on diverse methods of technical analysis but also notes both macro- and micro-economics in his trading, thereby creating a general economic overview in his rationale for positions trades. Mr. Beryl believes that the increasing interconnectivity of market oriented information sources, and the resulting speed by which it is received, has had a profound impact on the development, length and amplitude of trends. Furthermore, it is Mr. Beryl's opinion that increasingly new trends develop more suddenly, last a shorter time period and have larger amplitude. In addition, it is well known that markets spend the majority of their time not in a trend but in a general price range bounded by areas of price resistance and areas of price support. A significant portion of Mr. Beryl's trading employs a strategy that enables him to recognize and take advantage of both the amplitude (range) that develops within trends and the ranges that are often prevalent in "sideways markets" or non-trending markets. Footnote: On guidance from the NFA, the November 2011 Rate of Return excludes nine accounts that were negatively impacted by the inability to execute trades immediately following the MF Global bankruptcy. The amount of assets from these nine accounts totaled $2,035,632 representing 31% of the October 31, 2011 total assets under management.