QUAESTA CAPITAL'S VOLATILITY INVESTMENT PROGRAM V-PRO is an actively managed portfolio. v-Pro is designed to generate uncorrelated absolute returns. v-Pro extracts value from buying and selling volatility on various currency pairs. The program consists of four separately managed strategies: Relative value, time-decay, carry, and directional strategies. Potential profitable trades are identified by sophisticated quantitative analysis-tools combined with discretionary filtering through Quaesta Capital's FX volatility trading team. Note: performance figures pre July 2008 are based on managed account returns; figures post July 2008 are actual fund performance. Monthly returns are net of fees, including interest and based on share class EUR C.