Tudor Investment Corp.

(Tudor Momentum Fund Ltd.)

Fund Investment Objectives

Tudor Momentum Fund Ltd. (the "Fund") is comprised of certain Trend Following trading systems, which use a variety of approaches to identify trending markets in the fixed income, currency, commodity and equity asset classes. Instruments traded include exchange traded futures, spot/forward FX and OTC look-alike instruments. Trend Following trading systems generally result in medium and long-term trades with average holding periods of one month to over six months. The assets are as of the beginning of the month following the requested date. Effective August 1, 2012, the annual management fee for Tudor Momentum Fund Ltd. and Tudor Momentum Fund L.P. was reduced from 2% payable monthly to 1.5% payable monthly. Information above is as of January 1, 2014.