Valhalla Capital Group, LLC

(International AB)

Fund Investment Objectives

The primary objective of the INTERNATIONAL AB PROGRAM is capital appreciation and preservation of capital through reliable, multi-strategic, market neutral investment strategies. The objective of this program is to achieve capital appreciation with a low level of volatility. The program seeks to accomplish its objective by allocating its assets among a diverse group of specialized trading systems. The program's systems will trade a range of investment strategies, in pursuit of desireable risk-adjusted returns. The actual number of strategies being used may vary and may change materially over time as determined by Valhalla Capital Group in its sole discretion. Valhalla Capital Group intends that the program's objective will be achieved by a disciplined trading approach. The assets of this program will be traded by the traders selected by the firm. All signals under the program are generated by a system that is constantly monitored. These systems use a wide array of technical indicators to identify price patterns that improve the probability for success. Certain algorithms find mini trends, directional movements and inefficiencies which produce multiple signals. Consistent risk management and capital preservation represent a key element of the program's objective. Proper risk management is the means to successful trading followed by sound technical and fundamental analytical skills. Every trade takes into account risk to reward parameters and overall impact to yield. The initial risk for the strategy is limited to a pre-determined maximum drawdown limit, presently set at 5% of the program's total assets. These drawdown limits are mandatory. These pre-determined drawdown limits are imposed, so any position(s) that realizes the pre-determined drawdown limit will be discontinued. In summary, the program's multiple logic based systems utilize small amounts of trading capital per trade, and concurrently adhering to automated drawdown limits, continuously evaluating markets, and exercising efficient risk management processes, which hopefully lead to consistent and reliable profitable results, whilst also preserving capital. Our program will focus mainly on trading these currencies against each other, though we will not limit ourselves from trading other exotic pairs if the opportunities arise: US dollar, Euro, British Pound, Japanese Yen, Canadian dollar, Swiss Franc, and the Australian dollar.