Kinkopf Capital Management,

LLC (Proprietary)

Fund Investment Objectives

KINKOPF CAPITAL MANAGEMENT, LLC uses a systematic technical analysis approach that incorporates a diverse array of data that is programmatically analyzed and then statistically evaluated to produce a trading system that is long term stable yet robust to react to system changes over time. Kinkopf Capital Management, LLC core investment philosophy adheres to a strict process that follows a disciplined approach towards trading. Ken Kinkopf designed the statistical trading system to dynamically manage risk by using various techniques combining volatility measures, reversal flow, price target stops and timing stops. He calls his approach "Dynamic Risk Management". In addition, Mr. Kinkopf's trading system reduces market exposure by approximately fifty percent during an average year by limiting equity exposure to system tradable events only. Mr. Kinkopf believes that risk management and discipline are the keys for long term sustainability in the markets. Returns are based on proforma adjustments to a proprietary account to reflect fees. Client accounts are traded in like fashion.