Infinity Advisors, LLC

(Treasury Trading)

Fund Investment Objectives

The TREASURY TRADING PROGRAM seeks to profit from the fundamental view that U.S. Treasury prices are unusually high. Yields, inverse to prices, are artificially low. We project significantly higher rates on U.S. Treasuries, independent of inflation. Under normal inflation levels of 2-3% per year, we believe there is a high probability of a 10-year yield of 5-6% and a 30-year yield in excess of 6%. If problematic inflation develops, yields may rise much higher. The strategy is implemented through active, opportunistic and tactical short-biased trading of interest rate contracts including T-Bond, 10-Year Note, Ultra T-Bond and Eurodollar futures and options on futures.