Cantab Capital Partners (CCP

Core Macro Programme)

Fund Investment Objectives

Cantab is an established systematic global macro hedge fund manager. This style of investment is sometimes referred to as Managed Futures, CTA or GTAA. Systematic investment style implies that the investment and trading decisions are based on orders given by a suite of Cantab's proprietary investment systems without discretionary input. The programme trades approximately 100 highly liquid global markets in futures on interest rates, equity indices, commodities and currency forwards. Cantab created multiple robust, statistical strategies which capture returns systematically across macro markets. These strategies (about 10) are applied to a highly diversified basket of assets and grouped around two distinct and broadly non-correlated sources of returns: Trend (Momentum) and Value. Cantab's belief is that a combination of two uncorrelated sources of return is a better way to harvest macro-styled returns than one of them taken individually. Returns are net of fees for the USD Mersenne share class. USD returns are pro forma using Mersenne GBP returns from Jan-Apr 14.