Eclipse Capital Management,

Inc. (Global Monetary)

Fund Investment Objectives

The GLOBAL MONETARY PROGRAM (GMP) is designed to produce attractive rates of return in a variety of different economic and market conditions. Returns from this approach have been uncorrelated with those of most traditional and alternative investments, thereby providing significant diversification to many investment portfolios. The program is a multi-strategy, systematic approach that establishes long and short positions in a broadly diversified portfolio of stock index, fixed income, commodity, and foreign exchange contracts. The portfolio contains only the most liquid futures contracts traded, cleared and priced on established global futures exchanges, which minimizes concerns with respect to liquidity, counterparty, and valuation risk. Quantitative models analyze market prices as well as macroeconomic and fundamental factors to identify emerging and persistent price trends. Additionally, short-term mean reversion models attempt to identify conditions where prices are unlikely to become over-extended. Portfolio position sizes are determined using each market's risk allocation and are actively adjusted to reflect changes in market risk. The GMP was designed based on the following core concepts and principles: Portfolio Diversification, Strategy Diversification, Risk Management and Systematic Implementation For additional information please contact Nigel Ekern at (203) 354- 5884 or email him at