Benefits Returns not correlated to traditional portfolios Aims to profit in both rising and falling markets using long and short trading strategies Robust risk management Currency exposure fully hedged

Investment Objective To generate non-correlated returns using both long and short positions in futures markets To maintain a portfolio diversified across equity, currency, fixed-income and commodities

Key Features System is based on market sentiment as measured by the Commitment of Traders Report Look to commercial trader activity to predict trend changes Analyzes large trader activity to confirm the trend change

Commitments of Traders Report Large traders using US futures exchanges must report their positions daily to the Commodities & Futures Trading Commission (CFTC) The CFTC publishes a public report of the data every week

Bullish Review Steve Briese’s Bullish Review analyses the Commitments of Traders Report weekly Published since 1988 Recently published book: The Commitments of Traders Bible

Steve Briese The Commitments of Traders Bible, Steve shares the insights and experiences of his successful career to help put the COT report in perspective. Detailed guide skillfully examines the predictive power of COT data and reveals how you can accurately interpret it in order to analyze market movements

Investment Methodology Proprietary filters dictate market entry All positions protected by stop loss orders Profits are taken at predetermined price objectives

System One: Value The core timing mechanism is a measure of market sentiment used to determine trend changes Trades with the commercials (hedgers) against the speculators (hedge funds) when they are positioned at extremes Proprietary pattern recognition logarithms dictate entry points, as commercials are often early to recognize opportunities

Source of Data: Insidercapital.com

System Two: Momentum The core timing mechanism is a measure of large trader activity within COT Report to confirm trend change Proprietary parabolic formula dictates trade direction

Source of Data: Insidercapital.com

Risk Management Trailing stops adjusted daily Entries made based within predetermined risk/reward ratios Profits taken at predetermined price targets

Portfolio Components S&P 500, NASDAQ 100 US Treasuries C$, Yen, Euros, Swiss Franc, Australian Dollar Gold, Silver, Copper, Crude, Gasoline, Soybeans, Cotton, Coffee,

Fund Performance

Fund is Ideal For: Clients who are looking to reduce portfolio volatility Clients who are looking for a compliment to an existing buy and hold strategy by adding non-correlated assets Clients who are looking to reduce single-name risk in their portfolios Clients who are interested in investing alongside major commercial interests

Summary Non-discretionary, computer-driven trading Reactive trend exploitation, no prediction Tactical positions built on market sentiment Diversified equity, currency, fixed-income and commodity portfolio Strict risk management

Fund Details Portfolio Manager :JovInvestment Management Inc. Strategy Research Provided By:HCS Management Inc. Minimum Investment :$5,000 Currency :Canadian Distributions : Annually (if any) Commissions : Up to 5% Management Fee :2.50% Fund Code :JOV004 (DSC) JOV005 (A Class) JOV006 (F Class)

Disclaimer Commissions, trailing commissions, management fees and expenses all may be associated with the Fund. The investment may not be suitable for all investors. Some conditions apply. Investors should carefully review the Fund's Prospectus, including the risk factors detailed therein under the heading "Risk Factors", prior to investing in the Fund. The indicated rate[s] of return is [are] the historical annual compounded total return[s] including changes in [share or unit] value and reinvestment of all [dividends or distributions] and does [do] not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. There can be no assurance that the Fund objectives will be met. The Fund is not guaranteed, its value changes frequently and past performance may not be repeated. *Performance fee: 20% of the excess of the fund's cumulative net trading performance at the end of the current quarter over the highest previously attained..