Drury Capital, Inc.

(Diversified)

Fund Investment Objectives

The Drury Diversified Trend-Following Program portfolio is broadly diversified. Approximately half of the risk exposure is in financial markets, and half in commodities. Numerous models are traded, but all are trend-following in nature. The benefit of numerous models is to provide diversification, for any given instrument, away from a single entry and exit point, hence to reduce the volatility of the overall portfolio. The strategy is trend following, systematically executed and broadly diversified. The aim is long-term capital growth with particular focus on targeting risk-adjusted rates of return. Since inception in 1997, the program has achieved a annual compound rate of return of over 11 per cent.