Trigon Investment Advisors

(Discretionary Macro)

Fund Investment Objectives

TRIGON'S DISCRETIONARY MACRO Program trades futures and foreign exchange in a global macro style. It employs a top-down analysis of fundamentals to formulate investment themes expected to materialize over coming weeks to several months. The Program includes two separate strategies: the Short-Term Interest Rates Strategy which governs exposure to fixed income with a maturity of less than three years and the Opportunistic Strategy which sets exposure to long-term fixed income, foreign exchange, equity indices and commodities. The Program has a history of positive returns and outperformance of both CTA and global macro indices over the past one, three and five years. In its 6 1/2 year history it has been recognized twice by HFMWeek at the US Performance Awards: Best New Managed Futures Program Under $100MM in 2009 and Best Macro Program Under $1 Billion in 2013. The correlation with CTAs, macro managers and the S&P500 has been low, generally between +/- 0.25. The Program's since inception annualized volatility (5.51%) and its margin-to-equity ratio (average of 4%) are both low thus providing the framework to be leveraged to potentially target a higher return objective. Trigon Investment Advisors was founded in 2002 by Ante Basic and Paul Mastroddi. It trades only futures and foreign exchange and is a member of the National Futures Association and is registered with the Commodity Futures Trading Commission as a CTA and CPO. Program assets total approximately $400 million while firm assets under management currently total over $500 million.