Our asset allocation and manager selection process follows the following steps: 1) We divide the commodities universe of funds into four categories: a) Commodities Hedge Fund universe which includes Commodities-Trading, b) Commodities-Equity, c) Commodities-Systematic, and d) Commodities-Long. The objective of this fund is to provide investors with purely idiosyncratic skills and knowledge based investment returns (alpha) with minimal exposure to market variables (beta). NewFinance has no prejudice with respect to funds in any of these four categories. However, we exclude investments in Commodities-Long funds as we believe there are few funds in this area in which risk/return rewards are compelling. AUM combines all share classes and is reported in USD.