Energy Fund

Fund Investment Objectives

The Iroquois Energy Fund is an energy hedge fund that invests in the equity securities of publicly listed energy companies that the Portfolio Manager believes will outperform the energy equity indexes. The Portfolio Manager utilizes techniques acquired in his 18 year career as a professional investor to identify undervalued and often under-followed energy companies whose businesses will benefit from an industry trend or technology development. The Iroquois Energy Fund invests principally in the Exploration and Production, Oilfield Service, Pipeline and Marketing, Refining, Electric and Gas utility, Independent Power, and Alternative Energy sectors. The Fund establishes short equity and commodity derivative positions to limit the risk of a major drawdown caused by oil and gas commodity price and market movements.