Bluenose Capital Management,

LLC (BNC EI)

Fund Investment Objectives

BLUENOSE CAPITAL MANAGEMENT, LLC will take advantage of the financial markets using diversified strategies. Some of these strategies involve the selling of time (calls and puts) on stock indices or other suitable commodities. At times we may purchase calls and puts to reduce margin or to take advantage of what we believe will be a profitable trade based on market conditions. We look for investment opportunities trying to capitalize on the fear and greed of the average investor. Bluenose Capital Management, LLC will follow a long-term plan for portfolio growth and protection. There are times when Bluenose Capital Management, LLC is not in the markets at all and others when we are fully invested. At present, the main strategy that best meets Bluenose Capital Management, LLC criteria for effective growth to risk management is one that focuses on the writing (selling) of options using Futures contracts of indices and other commodities. We currently offer two programs, BNC EI and BNC BI. BNC EI uses mini contracts which can be executed electronically. The average yearly return is targeted at 25% - 35%. There is no guarantee that past performance will be the same as future performance. There is no guarantee that we will achieve the goals we have set for the programs in the future.