PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS

STRICTLY CONFIDENTIAL – DO NOT REPRODUCE

PROSPECTIVE INVESTORS ARE CAUTIONED THAT PAST RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS AND THAT COMMODITYFUTURES TRADING IS SPECULATIVE AND SUBJECT TO THE RISK OF LOSS. THESE MATERIALS ARE NOT INTENDED AS AN OFFER TO SELL, OR THESOLICITATION OF AN OFFER TO PURCHASE, ANY INVESTMENT. ANY OFFER OR SOLICITATION WITH RESPECT TO ANY INVESTMENT THAT MAY BEOFFERED BY STRATEGIC INVESTMENTS WILL BE MADE ONLY BY MEANS OF A DISCLOSURE DOCUMENT/OFFERING MEMORANDUM, WHICH WILL BEPROVIDED TO PROSPECTIVE INVESTORS AND WILL CONTAIN MATERIAL INFORMATION THAT IS NOT SET FORTH HEREIN. IN MAKING A DECISION TOINVEST, PROSPECTIVE INVESTORS SHOULD RELY ONLY ON THE DISCLOSURE DOCUMENT/OFFERING MEMORANDUM FOR SUCH INVESTMENT AND NOTON THESE MATERIALS, WHICH CONTAIN PRELIMINARY INFORMATION THAT IS SUBJECT TO CHANGE AND THAT IS NOT INTENDED TO BE COMPLETE ORTO CONSTITUTE ALL THE INFORMATION NECESSARY TO ADEQUATELY EVALUATE THE CONSEQUENCES OF INVESTING IN SUCH SECURITIES.

NOTHING IN THESE MATERIALS SHOULD BE CONSTRUED AS A RECOMMENDATION TO INVEST IN ANY SECURITIES THAT MAY BE ISSUED BY THE ISSUEROR AS LEGAL, ACCOUNTING OR TAX ADVICE. AN INVESTMENT IN SECURITIES OF THE TYPE DESCRIBED HEREIN PRESENTS CERTAIN RISKS. BEFOREMAKING A DECISION TO INVEST IN ANY SECURITIES OF THE ISSUER, A PROSPECTIVE INVESTOR SHOULD CAREFULLY REVIEW THE DISCLOSUREDOCUMENT/OFFERING MEMORANDUM (INCLUDING THE RISK FACTORS DESCRIBED THEREIN) FOR SUCH INVESTMENT AND CONSULT WITH ITS OWNLEGAL, ACCOUNTING, TAX AND OTHER ADVISORS IN ORDER TO INDEPENDENTLY ASSESS THE MERITS OF SUCH AN INVESTMENT.

THESE MATERIALS CONTAIN “FORWARD-LOOKING” INFORMATION THAT IS NOT PURELY HISTORICAL IN NATURE. SUCH INFORMATION MAY INCLUDE,AMONG OTHER THINGS, PROJECTIONS, FORECASTS OR ESTIMATES OF CASHFLOWS, YIELDS OR RETURNS, SCENARIO ANALYSES AND PROPOSED OREXPECTED PORTFOLIO COMPOSITION. THE FORWARD-LOOKING INFORMATION CONTAINED HEREIN IS BASED UPON CERTAIN ASSUMPTIONS ABOUTFUTURE EVENTS OR CONDITIONS AND IS INTENDED ONLY TO ILLUSTRATE HYPOTHETICAL RESULTS UNDER THOSE ASSUMPTIONS (NOT ALL OF WHICHWILL BE SPECIFIED HEREIN). ACTUAL EVENTS OR CONDITIONS ARE UNLIKELY TO BE CONSISTENT WITH, AND MAY DIFFER MATERIALLY FROM, THOSEASSUMED. IN ADDITION, NOT ALL RELEVANT EVENTS OR CONDITIONS MAY HAVE BEEN CONSIDERED IN DEVELOPING SUCH ASSUMPTIONS.ACCORDINGLY, ACTUAL RESULTS WILL VARY AND THE VARIATIONS MAY BE MATERIAL. PROSPECTIVE INVESTORS SHOULD UNDERSTAND SUCHASSUMPTIONS AND EVALUATE WHETHER THEY ARE APPROPRIATE FOR THEIR PURPOSES.

DISTRIBUTION OF THIS INFORMATION TO ANY PERSON OTHER THAN THE PERSON TO WHOM THIS INFORMATION WAS ORIGINALLY DELIVERED ANDTO SUCH PERSON'S ADVISORS IS UNAUTHORIZED AND ANY REPRODUCTION OF THESE MATERIALS, IN WHOLE OR IN PART, OR THE DISCLOSURE OF ANYOF THEIR CONTENTS, WITHOUT THE PRIOR CONSENT OF STRATEGIC INVESTMENTS OR ITS AFFILIATES IS PROHIBITED. THESE MATERIALS ARE NOTINTENDED FOR DISTRIBUTION TO, OR USE BY ANY PERSON OR ENTITY IN ANY JURISDICTION OR COUNTRY WHERE SUCH DISTRIBUTION OR USEWOULD BE CONTRARY TO LOCAL LAW OR REGULATION. IN PARTICULAR THESE MATERIALS ARE NOT INTENDED FOR DISTRIBUTION IN THE UNITEDSTATES OR TO OR FOR THE ACCOUNT OF U.S. PERSONS (AS DEFINED IN REGULATION S) UNLESS SUCH PERSON IS (I) A “QUALIFIED INSTITUTIONALBUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) AND (II) A “QUALIFIED PURCHASER” WITHIN THE MEANING OF SECTION 3(C)(7) OF THEINVESTMENT COMPANY ACT OF 1940.

DISCLOSURE

2C O N F I D E N T I A L I N F O R M AT I O N

2009 CORPORATE REVIEW

OverviewInfrastructureResearch & TechnologyPrincipalsInvestments InformationContact Information

3C O N F I D E N T I A L I N F O R M AT I O N

STRATEGIC CAPITAL MANAGEMENT, LLC

Operates Managed Futures investment programs for private and institutional investors.

Our investment strategies provide clients with systematic exposure to a diversified universe

of global futures markets combined with institutional quality risk management.

The firm’s trading principals have a combined 58 years of industry experience with a

continuous track record dating back to 1992.

In addition to sound investment strategies, our business philosophy centers on commitment

to exceptional research, back office operations and client service.

The principals maintain significant personal capital in our investment programs.

OVERVIEW

4C O N F I D E N T I A L I N F O R M AT I O N

DEVELOPED INFRASTRUCTURE

Newly formed Onshore/Offshore, Master/Feeder Fund structure

16 year continuous track record

Outsourced Middle and Back office

3 principals / 3 employees

Proprietary research platform

System redundancy

Business growth and continuity plan

INFRASTRUCTURE

5C O N F I D E N T I A L I N F O R M AT I O N

RESEARCH & TECHNOLOGY

Proprietary research platform - C#, C++, .NET, SQL

Redundant offices and backups

Encrypted trader access

CSI & CQG data

Staff growth focused on research

RESEARCH & TECHNOLOGY

6C O N F I D E N T I A L I N F O R M AT I O N

Dick A. StokenDick Stoken graduated from Northwestern University with a B.S. in Law and then went on to graduate from the

University of Chicago Booth School of Business with an MBA having a finance concentration. Mr. Stoken is a member

of both the CME and CBOT and was an original partner in the commodity firm Lind-Waldock. He is the author of

CYCLES, (McGraw-Hill) and STRATEGIC INVESTMENT TIMING (McMillan), both named best investment book of the

year by Stock Traders Almanac. More recently he authored THE GREAT GAME OF POLITICS (Forge). After years as

an independent trader, Mr. Stoken founded the registered CTA Neims-Stoken in 1984. The firm was dissolved in late

1990 and shortly thereafter he formed Strategic Investments, LLC. In 2009 Strategic Investments, LLC. became

Strategic Capital Management. Mr. Stoken is responsible for the initial development of all systems and financial models

used by Strategic Capital Management, LLC, and is ultimately responsible for all trading decisions.

PRINCIPALS

7C O N F I D E N T I A L I N F O R M AT I O N

Joseph B. Chesney

Joseph Chesney graduated with a B.S. Management from Aurora University. Since 1997, he has been actively involved

in the trading, infrastructure and sales aspects of the futures and equity markets. Prior to joining Strategic Capital

Management, Mr. Chesney worked at both Merrill Lynch and Morgan Stanley as a financial consultant. While at both

firms he focused on the needs of start up Hedge funds and CTA’s. He also maintained a client based with whom he

emphasized portfolio construction using alternative managers such as CTA’s, Managed Futures funds, and hedge funds.

Mr. Chesney became a registered principal of Strategic Investments LLC, in March of 2007. He is responsible for

overseeing all operational procedures of the firm and is the main point of contact for all due diligence reviews and

investor correspondence. Mr. Chesney is an active member of the NFA.

PRINCIPALS

8C O N F I D E N T I A L I N F O R M AT I O N

Patrick F. Hart III

Patrick Hart holds a B.A. in Economics from Colorado State University. His role at Strategic Investments is to oversee

strategic planning and business development. He is also Chief Executive Officer and Managing Partner of Three Palms,

LLC and its affiliated entities. Mr. Hart has over twenty-five years of experience in the design, implementation and

management of structured hedge funds and Managed Futures products. Mr. Hart is a member of the Managed Funds

Association and served for nine years on the Introducing Broker Advisory Committee of the NFA. Additionally, since

1988, he has served periodically on the NFA Arbitration and Nominating Committees. Mr. Hart has written numerous

articles published in leading investment publications, and is a contributing author to the Handbook of Managed

Futures—Performance, Evaluation and Analysis (McGraw-Hill 1997). Mr. Hart serves on the board of the Colorado

Chapter of Hedge Fund Cares, a not for profit organization comprised of hedge fund industry professionals committed

to protecting children from abuse and neglect.

PRINCIPALS

9C O N F I D E N T I A L I N F O R M AT I O N

ACCOUNT STRUCTURE

Minimum Investment

Fund: $250,000

Managed Account: $1,000,000

Management Fee: 2%

Incentive Fee: 20%

High-Water Mark: Yes

Hurdle Rate: No

SERVICE PROVIDERS

Accounting

Reporting: Pyxis Global Financial Services, LLC

Fund Audit: Spicer, Jefferies, LLC

Legal

Rothgerber, Johnson & Lyons, LLP

Trading

Clearing & Execution: New Edge, Advantage Futures

Back Office: Pyxis Global Financial Services

Data: CQG & Commodity Systems Inc.

INVESTMENTINFORMATION

10C O N F I D E N T I A L I N F O R M AT I O N

STRATEGY DESCRIPTION

PhilosophyInvestment ProcessRisk ManagementPortfolioAllocation ModelsMarkets Traded

11C O N F I D E N T I A L I N F O R M AT I O N

STRATEGIC INVESTMENT PHILOSOPHY

Focuses on the long-term trend. We believe the time frame is longer term than most

managers within the macro or diversified trend following space. Our trend identification

method is disciplined and highly systematic.

Highlights of our approach include a fundamental overlay, which determines trade

participation and position sizing, a relative strength model, which allows us to

concentrate on the best performers in a sector, and our use of volatility-based exits,

which help us reduce position sizing and take profits that most long-term, directional

programs tend not to capture.

PHILOSOPHY

12C O N F I D E N T I A L I N F O R M AT I O N

INVESTMENT PROCESS

Core markets are selected as the most liquid and representative members of the major asset sectors. Secondary markets within each sector provide an alternative to core markets when relative strength may warrant their inclusion.

Technical and fundamental inputs are combined into tested models which are the chief components in our decision making process.

Technical models determine entry and exit. We do not believe in contradicting trends. Volatility algorithms may cut position size and tighten stops when market conditions warrant.

Fundamentals are used to determine whether a sector’s outlook is bullish, bearish or neutral. The outcomes are combined with our technical models to affect trade initiation, stop placement and position sizes.

Manager discretion may be used to decrease positions during periods of extreme market conditions.

INVESTMENT PROCESS

13C O N F I D E N T I A L I N F O R M AT I O N

INVESTMENT PROCESS

14C O N F I D E N T I A L I N F O R M AT I O N

Strategic Investment Management has developed fundamental models for stocks, debt,

and commodities. The models are used as a filter to validate technical signals. No

trades in opposition to the major trend will be taken based on the fundamental models

alone.

INVESTMENT PROCESS

15C O N F I D E N T I A L I N F O R M AT I O N

Fundamental Filter Models

(Example Model)

Fundamental Trend Bullish Bearish Neutral

Technical Trend Bullish Bearish Bullish Bearish Bullish Bearish

Minor No Trade No Trade No Trade No Trade No Trade No Trade

Intermediate Partial Trade No Trade No Trade Partial Trade No Trade No Trade

Major Trade Partial Trade Partial Trade Trade Partial Trade Partial Trade

Fundamental filters are used as a mechanism that indicates how heavily to

weigh positions and whether to enter or exit a trade on a minor,

intermediate or major signal.

RISK MANAGEMENT

Risk Management is the most important aspect of Strategic Investment’s

approach to the portfolio management process and is the basis for all modeling

and research.

The approach is multi-faceted and has an process dating back to the inception of

the firm’s track record.

RISK MANAGEMENT

16C O N F I D E N T I A L I N F O R M AT I O N

RISK MANAGEMENT (CONT.)LOW LEVERAGE: Average Margin to Equity ratios fall between 5% and 8%, with a maximum of 10%.

While exceptions do occur for certain markets, this puts the firm’s margin to equity ratios on the low end

of the industry spectrum.

STRICT TREND ADHERENCE: We do not initiate or maintain positions which conflict with the long

term trend as identified by our proprietary algorithms.

CORRELATION: Each program is constructed to contain multiple asset classes which were selected

because they displayed sufficient negative correlation. Each portfolio is specifically designed and

continuously back tested in order to perform under multiple market scenarios, including ones with a high

degree of inflation or deflation.

VOLATILITY CUTBACKS: Volatility models are used to determine when a specific market’s volatility

has increased to the point where the risk has become unacceptable. At this time we reduce our positions

and tighten our risk controls on the remaining positions.

RISK MANAGEMENT

17C O N F I D E N T I A L I N F O R M AT I O N

PORTFOLIO CHARACTERISTICS

Low Turnover – 700 round-turns per $1milliion

Low Margin – average 3-6% / max 10%

90% systematic / 10% discretionary

65% technical / 35% fundamental

Strict trend adherence

Non-correlation to traditional assets

Fundamental overlay

PORTFOLIO

18C O N F I D E N T I A L I N F O R M AT I O N

Commodity Allocation Model

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STRATEGIC COMMODITY

Diversified Allocation Models

20C O N F I D E N T I A L I N F O R M AT I O N

METALS16%

ENERGIES17%

GRAINS, MEATS, SOFTS

17%CURRENCIES

12%

EQUITIES & DEBT38%

0%

0%0% 0% 0%

NEUTRAL ENVIRONMENT

STRATEGIC GLOBAL BLEND

Diversified Allocation Models

21C O N F I D E N T I A L I N F O R M AT I O N

Metals22%

Energies22%Grains, Meats,

Softs22%

Currencies9%

Equities & Debt25%

0%

0%0% 0%0%

INFLATIONARY ENVIRONMENT

STRATEGIC GLOBAL BLEND

Diversified Allocation Models

22C O N F I D E N T I A L I N F O R M AT I O N

Metals12%

Energies12%

Grains, Meats, Softs12%

Currencies9%

Equities & Debt55%

0%

0%0% 0% 0%

DEFLATIONARY ENVIRONMENT

STRATEGIC GLOBAL BLEND

Currency

Canadian DollarEuro CurrencyJapanese YenBritish PoundSwiss Franc

Commodity

Corn Crude OilGoldSoybeansSoybean OilSoybean MealWheatLean HogsSilver CopperNatural GasRBOB GasolineCotton #2Sugar #11Coffee

Equity

S&P 500NikkeiS&P 500 MiniNASDAQRussell 2000DAX

Debt

US 10 Year NoteJapanese Govt. Bond Euro BundUS 30 Year Bond

Exchanges

CBOTCME COMEXNYMEXEUREXTSESGX

Markets & Exchanges

MARKETS & EXCHANGES

CORE markets are displayed in BOLD

CONTACT INFORMATION

Joseph B. Chesney

(847) 222-0320

jchesney@strategic-inv.com

STRATEGIC CAPITAL MANAGEMENT, LLC

www.strategic-inv.comBACK OFFICE/ ADMINISTRATION TRADING OFFICE

700 Seventeenth Street 209 West JacksonSuite 2400 6th Floor

Denver, Colorado 80202 Chicago, Illinois 60605

CONTACTINFORMATION

24C O N F I D E N T I A L I N F O R M AT I O N