Silicon Valley Quantitative

Advisors (UQP Large)

Fund Investment Objectives

US QUANTITATIVE PORTFOLIO (UQP) is a fully systematic trading program using only US exchange based, US Dollar denominated futures contracts with no exposure to stock index products. It is not a pure trend follower. The Large Account minimum is $500,000 USD and will many times have positions in additional futures contracts vs UQP Small Account. Over the last few years this has typically been concentrated in the Energy sector where the risk per trade is too large for UQP Small Account. Per the NFA, the following disclosures appear in the SVQuant Disclosure Document: 1) From January 2009 through June 2011 SVQuant traded only proprietary and non-customer funds in the Large Account UPQ program. 2) From April 2008 to present SVQuant is registered with the CFTC under NFA ID: 0311607. 3) On October 31, 2011 MF Global Inc (MFGI) went into SIPA bankruptcy. A significant number of SVQuant UQP accounts were held at MFGI. In December 2011 approximately 72% of account values previously at MFGI were released to their owners, i.e. SVQuant clients. Previous fully funded accounts began trading in December at a notional funding of ~72% or less. 4) All annual and year-to-date rates-of-return are computed on a compounded monthly basis. 5) Accounts did not pay 1.2% management fee due to full waiver or temporary fee waiver.