Altegris Clearing Solutions Northfield Trading LP Diversified Program
Monthly Performance (%)
Date Range: 12/89 - 04/13
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2013 7.40 -4.50 -1.20 2.70 4.07
2012 2.10 4.60 -3.20 -3.60 9.00 -1.00 2.20 -1.40 -0.50 -0.80 -2.34 2.26 6.82
2011 -1.80 0.20 -3.00 5.50 -2.70 -1.80 0.00 6.70 -1.70 -3.40 -1.60 1.10 -3.02
2010 -1.50 0.60 -3.60 -2.40 8.00 -0.10 0.20 3.90 -2.60 -0.20 -2.30 1.00 0.45
2009 0.50 0.00 -0.90 -1.20 -0.30 -2.20 0.60 2.20 1.30 -1.20 -0.10 -3.10 -4.43
2008 0.60 0.90 2.70 -0.90 2.50 2.90 1.30 1.80 -0.20 3.50 -0.10 -1.30 14.44
2007 1.40 -0.20 -4.00 2.60 9.10 4.20 3.10 -0.70 5.00 2.10 2.80 -2.70 24.40
2006 2.02 -1.84 1.08 6.33 -1.48 -3.20 -3.04 1.50 1.44 -0.90 1.72 -0.49 2.79
2005 -0.86 0.32 -0.24 0.09 4.61 3.52 1.96 1.36 -2.69 -0.90 4.13 -2.47 8.85
2004 -0.75 -0.87 -2.64 3.80 -0.81 -3.98 -1.29 2.64 -2.97 4.31 2.83 -1.94 -2.08
2003 -3.72 -0.20 -0.47 -0.61 4.98 0.41 -3.86 1.50 -0.51 -3.27 -2.96 -0.19 -8.87
2002 2.27 -8.51 11.49 0.71 -4.55 5.99 -1.61 1.93 1.08 0.22 -1.03 2.02 9.03
2001 -1.74 -2.33 4.76 -1.70 -2.84 -2.00 -0.53 4.39 -0.41 2.39 -11.60 -3.53 -15.03
2000 4.16 -1.98 0.26 -1.65 -2.95 -4.68 -1.35 3.34 1.78 3.72 4.22 9.08 13.94
1999 -4.89 -1.41 0.87 5.67 -2.11 4.19 3.78 0.54 1.37 4.90 0.52 -0.14 13.53
1998 -0.74 -2.40 -1.47 -4.83 -0.33 0.23 -1.53 11.16 4.19 -2.03 5.27 0.26 7.02
1997 2.39 1.86 -0.49 -2.74 2.97 -2.56 2.37 -1.25 0.49 -2.23 -0.37 2.27 2.49
1996 3.70 -2.10 5.50 5.40 0.14 -1.37 0.56 -0.09 2.08 2.56 3.03 -2.08 18.32
1995 0.50 -0.30 1.40 1.40 1.80 -3.60 0.80 0.60 0.00 -7.70 3.80 11.00 9.03
1994 -1.00 -5.60 -1.00 6.90 2.70 9.90 -1.60 -7.50 1.70 1.40 5.70 2.90 13.97
1993 -9.80 0.90 1.20 0.30 -2.20 7.10 1.10 7.40 9.30 11.40 5.20 4.11 40.11
1992 -3.20 -6.00 -2.30 -2.80 -0.80 5.10 10.60 -2.20 -11.60 -8.80 5.60 -2.50 -19.11
1991 0.30 3.40 -4.80 -3.60 -8.50 14.40 1.30 4.20 2.90 2.60 -5.30 17.00 23.02
1990 6.00 5.50 7.00 3.30 -2.40 2.60 9.70 20.00 8.70 0.70 5.90 -4.30 80.76
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

Northfield is a 100% systematic and disciplined CTA that started as a software company and evolved to become a money management company. We have a 23-year track record managing money for clients and offer one program, Northfield Diversified, which includes six strategies designed to be less trend dependent that trade 50 global futures markets including interest rates, stock indexes, currencies, precious metals, grains & softs. The individual strategies have holding periods ranging from 1.5 to 40 days and the average holding period across the whole portfolio is 10-15 days making us shorter term, but not high frequency. Five of the strategies are in the 'simple and elegant mechanical system' category and the sixth is an artificial intelligence/machine learning based strategy - PMOD, short for predictive trading models. We've been working on PMOD for over 6 years and it continues to evolve along with our other strategies. We trade 1,000 roundturns per $1M, and have a low correlation to most other CTA's, stocks and bonds.

Performance Statistics
Date Range: 12/89 - 04/13
  Program SP500 TR Altegris 40
Total Return 672.35% 661.82% 523.38%
Annualized Return 9.12% 9.06% 8.16%
Annualized Std. Deviation 14.52% 14.92% 11.67%
Correlation -0.10 0.48
Sharpe Ratio (rf=2.5%) 0.46 0.44 0.48
Worst Month -11.60% -16.80% -8.16%
Date of Worst Month 09/1992 10/2008 01/1992
Worst Drawdown -27.04% -50.95% -15.00%
Date of Worst Drawdown 12/91 - 1/93 10/07 - 2/09 12/91 - 4/92
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 12/89 - 04/13
Year or YTD Program SP500 TR Altegris 40
2013 4.07 12.74 5.42
2012 6.82 15.98 -4.75
2011 -3.02 2.12 -3.23
2010 0.45 15.06 11.33
2009 -4.43 26.45 -7.98
2008 14.44 -37.00 15.47
2007 24.40 5.50 7.18
2006 2.79 15.79 6.70
2005 8.85 4.89 4.51
2004 -2.08 10.87 2.57
2003 -8.87 28.69 15.99
2002 9.03 -22.11 15.22
2001 -15.03 -11.88 5.39
2000 13.94 -9.09 10.63
1999 13.53 21.03 0.87
1998 7.02 28.57 12.61
1997 2.49 33.38 10.22
1996 18.32 22.96 16.04
1995 9.03 37.59 13.16
1994 13.97 1.32 -5.46
1993 40.11 10.08 14.66
1992 -19.11 7.64 0.89
1991 23.02 30.47 15.12
1990 80.76 -3.12 37.15
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 12/89 - 04/13
Date: 4/30/2013 Perf: $6,233.84 Date: 3/31/2013 Perf: $6,077.05 Date: 2/28/2013 Perf: $5,990.79 Date: 1/31/2013 Perf: $6,025.74 Date: 12/31/2012 Perf: $5,913.38 Date: 11/30/2012 Perf: $5,884.55 Date: 10/31/2012 Perf: $5,868.12 Date: 9/30/2012 Perf: $6,088.52 Date: 8/31/2012 Perf: $6,190.67 Date: 7/31/2012 Perf: $6,276.02 Date: 6/30/2012 Perf: $6,029.42 Date: 5/31/2012 Perf: $6,264.98 Date: 4/30/2012 Perf: $6,148.17 Date: 3/31/2012 Perf: $6,111.50 Date: 2/29/2012 Perf: $6,253.45 Date: 1/31/2012 Perf: $6,227.92 Date: 12/31/2011 Perf: $6,208.05 Date: 11/30/2011 Perf: $6,149.02 Date: 10/31/2011 Perf: $6,130.63 Date: 9/30/2011 Perf: $6,383.41 Date: 8/31/2011 Perf: $6,387.24 Date: 7/31/2011 Perf: $6,400.04 Date: 6/30/2011 Perf: $6,178.25 Date: 5/31/2011 Perf: $6,343.17 Date: 4/30/2011 Perf: $6,583.46 Date: 3/31/2011 Perf: $6,336.35 Date: 2/28/2011 Perf: $6,434.80 Date: 1/31/2011 Perf: $6,327.24 Date: 12/31/2010 Perf: $6,415.12 Date: 11/30/2010 Perf: $6,151.23 Date: 10/31/2010 Perf: $6,376.98 Date: 9/30/2010 Perf: $6,138.79 Date: 8/31/2010 Perf: $6,029.07 Date: 7/31/2010 Perf: $5,789.39 Date: 6/30/2010 Perf: $5,865.04 Date: 5/31/2010 Perf: $5,842.84 Date: 4/30/2010 Perf: $5,987.74 Date: 3/31/2010 Perf: $5,896.93 Date: 2/28/2010 Perf: $5,671.76 Date: 1/31/2010 Perf: $5,618.95 Date: 12/31/2009 Perf: $5,762.43 Date: 11/30/2009 Perf: $6,002.53 Date: 10/31/2009 Perf: $5,770.00 Date: 9/30/2009 Perf: $5,921.59 Date: 8/31/2009 Perf: $5,783.93 Date: 7/31/2009 Perf: $5,764.91 Date: 6/30/2009 Perf: $5,771.26 Date: 5/31/2009 Perf: $5,928.97 Date: 4/30/2009 Perf: $5,848.26 Date: 3/31/2009 Perf: $6,045.97 Date: 2/28/2009 Perf: $6,218.21 Date: 1/31/2009 Perf: $6,221.32 Date: 12/31/2008 Perf: $6,262.03 Date: 11/30/2008 Perf: $6,105.12 Date: 10/31/2008 Perf: $5,889.00 Date: 9/30/2008 Perf: $5,600.57 Date: 8/31/2008 Perf: $5,588.83 Date: 7/31/2008 Perf: $5,742.15 Date: 6/30/2008 Perf: $6,018.39 Date: 5/31/2008 Perf: $5,861.88 Date: 4/30/2008 Perf: $5,743.56 Date: 3/31/2008 Perf: $5,810.38 Date: 2/29/2008 Perf: $5,836.06 Date: 1/31/2008 Perf: $5,521.87 Date: 12/31/2007 Perf: $5,423.16 Date: 11/30/2007 Perf: $5,435.67 Date: 10/31/2007 Perf: $5,471.23 Date: 9/30/2007 Perf: $5,245.16 Date: 8/31/2007 Perf: $5,011.14 Date: 7/31/2007 Perf: $5,205.30 Date: 6/30/2007 Perf: $5,371.27 Date: 5/31/2007 Perf: $5,220.40 Date: 4/30/2007 Perf: $5,040.46 Date: 3/31/2007 Perf: $4,837.29 Date: 2/28/2007 Perf: $4,953.20 Date: 1/31/2007 Perf: $5,146.18 Date: 12/31/2006 Perf: $5,059.66 Date: 11/30/2006 Perf: $4,894.23 Date: 10/31/2006 Perf: $4,777.19 Date: 9/30/2006 Perf: $4,725.21 Date: 8/31/2006 Perf: $4,775.84 Date: 7/31/2006 Perf: $4,722.94 Date: 6/30/2006 Perf: $4,793.89 Date: 5/31/2006 Perf: $4,860.48 Date: 4/30/2006 Perf: $4,992.79 Date: 3/31/2006 Perf: $4,873.87 Date: 2/28/2006 Perf: $4,746.66 Date: 1/31/2006 Perf: $4,832.68 Date: 12/31/2005 Perf: $4,742.10 Date: 11/30/2005 Perf: $4,829.52 Date: 10/31/2005 Perf: $4,630.85 Date: 9/30/2005 Perf: $4,623.46 Date: 8/31/2005 Perf: $4,553.33 Date: 7/31/2005 Perf: $4,528.88 Date: 6/30/2005 Perf: $4,526.16 Date: 5/31/2005 Perf: $4,376.91 Date: 4/30/2005 Perf: $4,245.72 Date: 3/31/2005 Perf: $4,352.35 Date: 2/28/2005 Perf: $4,376.86 Date: 1/31/2005 Perf: $4,346.87 Date: 12/31/2004 Perf: $4,537.44 Date: 11/30/2004 Perf: $4,522.52 Date: 10/31/2004 Perf: $4,290.40 Date: 9/30/2004 Perf: $4,148.53 Date: 8/31/2004 Perf: $4,093.27 Date: 7/31/2004 Perf: $4,121.71 Date: 6/30/2004 Perf: $4,169.24 Date: 5/31/2004 Perf: $4,311.52 Date: 4/30/2004 Perf: $4,381.18 Date: 3/31/2004 Perf: $4,671.76 Date: 2/29/2004 Perf: $4,718.00 Date: 1/31/2004 Perf: $4,466.11 Date: 12/31/2003 Perf: $4,423.64 Date: 11/30/2003 Perf: $4,240.05 Date: 10/31/2003 Perf: $4,252.80 Date: 9/30/2003 Perf: $4,159.22 Date: 8/31/2003 Perf: $4,178.44 Date: 7/31/2003 Perf: $4,139.53 Date: 6/30/2003 Perf: $4,235.25 Date: 5/31/2003 Perf: $4,344.29 Date: 4/30/2003 Perf: $4,103.42 Date: 3/31/2003 Perf: $4,043.97 Date: 2/28/2003 Perf: $4,289.32 Date: 1/31/2003 Perf: $4,047.68 Date: 12/31/2002 Perf: $3,813.88 Date: 11/30/2002 Perf: $3,594.95 Date: 10/31/2002 Perf: $3,696.99 Date: 9/30/2002 Perf: $3,898.95 Date: 8/31/2002 Perf: $3,727.13 Date: 7/31/2002 Perf: $3,639.42 Date: 6/30/2002 Perf: $3,454.93 Date: 5/31/2002 Perf: $3,174.32 Date: 4/30/2002 Perf: $3,094.18 Date: 3/31/2002 Perf: $3,168.97 Date: 2/28/2002 Perf: $3,178.19 Date: 1/31/2002 Perf: $3,270.41 Date: 12/31/2001 Perf: $3,310.13 Date: 11/30/2001 Perf: $3,241.73 Date: 10/31/2001 Perf: $3,514.83 Date: 9/30/2001 Perf: $3,369.28 Date: 8/31/2001 Perf: $3,268.61 Date: 7/31/2001 Perf: $3,173.71 Date: 6/30/2001 Perf: $3,166.75 Date: 5/31/2001 Perf: $3,201.97 Date: 4/30/2001 Perf: $3,201.01 Date: 3/31/2001 Perf: $3,411.14 Date: 2/28/2001 Perf: $3,203.55 Date: 1/31/2001 Perf: $3,173.40 Date: 12/31/2000 Perf: $3,140.73 Date: 11/30/2000 Perf: $2,901.91 Date: 10/31/2000 Perf: $2,730.95 Date: 9/30/2000 Perf: $2,675.04 Date: 8/31/2000 Perf: $2,722.41 Date: 7/31/2000 Perf: $2,667.46 Date: 6/30/2000 Perf: $2,715.25 Date: 5/31/2000 Perf: $2,758.00 Date: 4/30/2000 Perf: $2,720.73 Date: 3/31/2000 Perf: $2,762.44 Date: 2/29/2000 Perf: $2,832.69 Date: 1/31/2000 Perf: $2,864.77 Date: 12/31/1999 Perf: $2,838.94 Date: 11/30/1999 Perf: $2,802.78 Date: 10/31/1999 Perf: $2,749.44 Date: 9/30/1999 Perf: $2,876.59 Date: 8/31/1999 Perf: $2,866.56 Date: 7/31/1999 Perf: $2,849.46 Date: 6/30/1999 Perf: $2,871.86 Date: 5/31/1999 Perf: $2,799.08 Date: 4/30/1999 Perf: $2,846.33 Date: 3/31/1999 Perf: $2,761.55 Date: 2/28/1999 Perf: $2,784.11 Date: 1/31/1999 Perf: $2,733.00 Date: 12/31/1998 Perf: $2,814.33 Date: 11/30/1998 Perf: $2,749.71 Date: 10/31/1998 Perf: $2,800.97 Date: 9/30/1998 Perf: $2,812.22 Date: 8/31/1998 Perf: $2,691.89 Date: 7/31/1998 Perf: $2,494.11 Date: 6/30/1998 Perf: $2,488.88 Date: 5/31/1998 Perf: $2,485.90 Date: 4/30/1998 Perf: $2,424.32 Date: 3/31/1998 Perf: $2,524.55 Date: 2/28/1998 Perf: $2,495.35 Date: 1/31/1998 Perf: $2,514.97 Date: 12/31/1997 Perf: $2,499.22 Date: 11/30/1997 Perf: $2,433.99 Date: 10/31/1997 Perf: $2,400.39 Date: 9/30/1997 Perf: $2,415.36 Date: 8/31/1997 Perf: $2,385.31 Date: 7/31/1997 Perf: $2,504.52 Date: 6/30/1997 Perf: $2,341.11 Date: 5/31/1997 Perf: $2,314.27 Date: 4/30/1997 Perf: $2,353.33 Date: 3/31/1997 Perf: $2,409.72 Date: 2/28/1997 Perf: $2,412.37 Date: 1/31/1997 Perf: $2,356.06 Date: 12/31/1996 Perf: $2,267.41 Date: 11/30/1996 Perf: $2,320.31 Date: 10/31/1996 Perf: $2,167.50 Date: 9/30/1996 Perf: $2,005.09 Date: 8/31/1996 Perf: $1,918.93 Date: 7/31/1996 Perf: $1,925.67 Date: 6/30/1996 Perf: $1,976.67 Date: 5/31/1996 Perf: $1,956.71 Date: 4/30/1996 Perf: $2,004.00 Date: 3/31/1996 Perf: $1,904.58 Date: 2/29/1996 Perf: $1,893.79 Date: 1/31/1996 Perf: $2,014.88 Date: 12/31/1995 Perf: $1,953.92 Date: 11/30/1995 Perf: $1,869.96 Date: 10/31/1995 Perf: $1,839.06 Date: 9/30/1995 Perf: $1,837.23 Date: 8/31/1995 Perf: $1,884.34 Date: 7/31/1995 Perf: $1,861.26 Date: 6/30/1995 Perf: $1,898.47 Date: 5/31/1995 Perf: $1,940.38 Date: 4/30/1995 Perf: $1,918.70 Date: 3/31/1995 Perf: $1,884.96 Date: 2/28/1995 Perf: $1,741.62 Date: 1/31/1995 Perf: $1,680.13 Date: 12/31/1994 Perf: $1,726.75 Date: 11/30/1994 Perf: $1,757.15 Date: 10/31/1994 Perf: $1,732.89 Date: 9/30/1994 Perf: $1,733.76 Date: 8/31/1994 Perf: $1,711.34 Date: 7/31/1994 Perf: $1,778.75 Date: 6/30/1994 Perf: $1,836.23 Date: 5/31/1994 Perf: $1,753.63 Date: 4/30/1994 Perf: $1,715.21 Date: 3/31/1994 Perf: $1,738.33 Date: 2/28/1994 Perf: $1,711.12 Date: 1/31/1994 Perf: $1,750.87 Date: 12/31/1993 Perf: $1,826.48 Date: 11/30/1993 Perf: $1,794.01 Date: 10/31/1993 Perf: $1,824.85 Date: 9/30/1993 Perf: $1,837.72 Date: 8/31/1993 Perf: $1,860.98 Date: 7/31/1993 Perf: $1,882.44 Date: 6/30/1993 Perf: $1,795.02 Date: 5/31/1993 Perf: $1,769.71 Date: 4/30/1993 Perf: $1,767.95 Date: 3/31/1993 Perf: $1,690.20 Date: 2/28/1993 Perf: $1,699.54 Date: 1/31/1993 Perf: $1,579.35 Date: 12/31/1992 Perf: $1,592.89 Date: 11/30/1992 Perf: $1,615.84 Date: 10/31/1992 Perf: $1,589.92 Date: 9/30/1992 Perf: $1,594.07 Date: 8/31/1992 Perf: $1,633.77 Date: 7/31/1992 Perf: $1,550.65 Date: 6/30/1992 Perf: $1,447.05 Date: 5/31/1992 Perf: $1,356.56 Date: 4/30/1992 Perf: $1,342.07 Date: 3/31/1992 Perf: $1,393.92 Date: 2/29/1992 Perf: $1,395.04 Date: 1/31/1992 Perf: $1,449.99 Date: 12/31/1991 Perf: $1,578.83 Date: 11/30/1991 Perf: $1,360.94 Date: 10/31/1991 Perf: $1,347.20 Date: 9/30/1991 Perf: $1,383.87 Date: 8/31/1991 Perf: $1,312.35 Date: 7/31/1991 Perf: $1,325.74 Date: 6/30/1991 Perf: $1,388.93 Date: 5/31/1991 Perf: $1,352.55 Date: 4/30/1991 Perf: $1,367.59 Date: 3/31/1991 Perf: $1,390.54 Date: 2/28/1991 Perf: $1,300.78 Date: 1/31/1991 Perf: $1,296.89 Date: 12/31/1990 Perf: $1,371.50 Date: 11/30/1990 Perf: $1,389.71 Date: 10/31/1990 Perf: $1,395.15 Date: 9/30/1990 Perf: $1,354.25 Date: 8/31/1990 Perf: $1,310.10 Date: 7/31/1990 Perf: $1,213.06 Date: 6/30/1990 Perf: $1,099.18 Date: 5/31/1990 Perf: $1,070.49 Date: 4/30/1990 Perf: $1,145.28 Date: 3/31/1990 Perf: $1,104.20 Date: 2/28/1990 Perf: $1,064.70 Date: 1/31/1990 Perf: $1,042.70 Date: 12/31/1989 Perf: $1,000.00 Date: 4/30/2013 Perf: $7,439.62 Date: 3/31/2013 Perf: $7,298.75 Date: 2/28/2013 Perf: $7,034.94 Date: 1/31/2013 Perf: $6,940.55 Date: 12/31/2012 Perf: $6,598.74 Date: 11/30/2012 Perf: $6,539.23 Date: 10/31/2012 Perf: $6,501.52 Date: 9/30/2012 Perf: $6,624.07 Date: 8/31/2012 Perf: $6,457.46 Date: 7/31/2012 Perf: $6,315.37 Date: 6/30/2012 Perf: $6,228.79 Date: 5/31/2012 Perf: $5,982.32 Date: 4/30/2012 Perf: $6,364.84 Date: 3/31/2012 Perf: $6,405.20 Date: 2/29/2012 Perf: $6,201.18 Date: 1/31/2012 Perf: $5,944.38 Date: 12/31/2011 Perf: $5,689.49 Date: 11/30/2011 Perf: $5,632.04 Date: 10/31/2011 Perf: $5,644.46 Date: 9/30/2011 Perf: $5,088.31 Date: 8/31/2011 Perf: $5,473.07 Date: 7/31/2011 Perf: $5,787.32 Date: 6/30/2011 Perf: $5,907.24 Date: 5/31/2011 Perf: $6,007.56 Date: 4/30/2011 Perf: $6,076.22 Date: 3/31/2011 Perf: $5,901.54 Date: 2/28/2011 Perf: $5,899.18 Date: 1/31/2011 Perf: $5,703.55 Date: 12/31/2010 Perf: $5,571.50 Date: 11/30/2010 Perf: $5,222.63 Date: 10/31/2010 Perf: $5,222.11 Date: 9/30/2010 Perf: $5,030.45 Date: 8/31/2010 Perf: $4,618.48 Date: 7/31/2010 Perf: $4,836.61 Date: 6/30/2010 Perf: $4,519.77 Date: 5/31/2010 Perf: $4,769.20 Date: 4/30/2010 Perf: $5,183.35 Date: 3/31/2010 Perf: $5,102.73 Date: 2/28/2010 Perf: $4,812.53 Date: 1/31/2010 Perf: $4,667.83 Date: 12/31/2009 Perf: $4,842.15 Date: 11/30/2009 Perf: $4,750.47 Date: 10/31/2009 Perf: $4,481.57 Date: 9/30/2009 Perf: $4,566.51 Date: 8/31/2009 Perf: $4,402.30 Date: 7/31/2009 Perf: $4,248.92 Date: 6/30/2009 Perf: $3,950.28 Date: 5/31/2009 Perf: $3,942.39 Date: 4/30/2009 Perf: $3,733.68 Date: 3/31/2009 Perf: $3,407.57 Date: 2/28/2009 Perf: $3,133.11 Date: 1/31/2009 Perf: $3,506.56 Date: 12/31/2008 Perf: $3,829.38 Date: 11/30/2008 Perf: $3,789.21 Date: 10/31/2008 Perf: $4,082.32 Date: 9/30/2008 Perf: $4,906.64 Date: 8/31/2008 Perf: $5,386.58 Date: 7/31/2008 Perf: $5,309.59 Date: 6/30/2008 Perf: $5,354.57 Date: 5/31/2008 Perf: $5,847.52 Date: 4/30/2008 Perf: $5,772.48 Date: 3/31/2008 Perf: $5,504.41 Date: 2/29/2008 Perf: $5,528.18 Date: 1/31/2008 Perf: $5,713.88 Date: 12/31/2007 Perf: $6,078.60 Date: 11/30/2007 Perf: $6,120.83 Date: 10/31/2007 Perf: $6,387.84 Date: 9/30/2007 Perf: $6,287.87 Date: 8/31/2007 Perf: $6,061.18 Date: 7/31/2007 Perf: $5,971.61 Date: 6/30/2007 Perf: $6,162.65 Date: 5/31/2007 Perf: $6,266.67 Date: 4/30/2007 Perf: $6,055.34 Date: 3/31/2007 Perf: $5,798.47 Date: 2/28/2007 Perf: $5,734.25 Date: 1/31/2007 Perf: $5,848.89 Date: 12/31/2006 Perf: $5,761.88 Date: 11/30/2006 Perf: $5,682.33 Date: 10/31/2006 Perf: $5,576.38 Date: 9/30/2006 Perf: $5,400.33 Date: 8/31/2006 Perf: $5,264.50 Date: 7/31/2006 Perf: $5,142.12 Date: 6/30/2006 Perf: $5,110.44 Date: 5/31/2006 Perf: $5,103.29 Date: 4/30/2006 Perf: $5,254.62 Date: 3/31/2006 Perf: $5,185.14 Date: 2/28/2006 Perf: $5,121.63 Date: 1/31/2006 Perf: $5,107.84 Date: 12/31/2005 Perf: $4,975.98 Date: 11/30/2005 Perf: $4,974.49 Date: 10/31/2005 Perf: $4,793.30 Date: 9/30/2005 Perf: $4,874.71 Date: 8/31/2005 Perf: $4,835.54 Date: 7/31/2005 Perf: $4,879.95 Date: 6/30/2005 Perf: $4,704.92 Date: 5/31/2005 Perf: $4,698.35 Date: 4/30/2005 Perf: $4,553.54 Date: 3/31/2005 Perf: $4,641.74 Date: 2/28/2005 Perf: $4,725.38 Date: 1/31/2005 Perf: $4,628.18 Date: 12/31/2004 Perf: $4,743.94 Date: 11/30/2004 Perf: $4,587.95 Date: 10/31/2004 Perf: $4,409.37 Date: 9/30/2004 Perf: $4,342.92 Date: 8/31/2004 Perf: $4,296.52 Date: 7/31/2004 Perf: $4,279.40 Date: 6/30/2004 Perf: $4,425.90 Date: 5/31/2004 Perf: $4,341.67 Date: 4/30/2004 Perf: $4,282.99 Date: 3/31/2004 Perf: $4,351.31 Date: 2/29/2004 Perf: $4,418.02 Date: 1/31/2004 Perf: $4,357.45 Date: 12/31/2003 Perf: $4,278.72 Date: 11/30/2003 Perf: $4,065.68 Date: 10/31/2003 Perf: $4,030.22 Date: 9/30/2003 Perf: $3,814.32 Date: 8/31/2003 Perf: $3,855.19 Date: 7/31/2003 Perf: $3,781.45 Date: 6/30/2003 Perf: $3,716.05 Date: 5/31/2003 Perf: $3,669.08 Date: 4/30/2003 Perf: $3,485.40 Date: 3/31/2003 Perf: $3,220.07 Date: 2/28/2003 Perf: $3,189.14 Date: 1/31/2003 Perf: $3,237.70 Date: 12/31/2002 Perf: $3,324.81 Date: 11/30/2002 Perf: $3,532.52 Date: 10/31/2002 Perf: $3,336.03 Date: 9/30/2002 Perf: $3,066.21 Date: 8/31/2002 Perf: $3,440.15 Date: 7/31/2002 Perf: $3,417.59 Date: 6/30/2002 Perf: $3,706.72 Date: 5/31/2002 Perf: $3,990.87 Date: 4/30/2002 Perf: $4,020.62 Date: 3/31/2002 Perf: $4,279.99 Date: 2/28/2002 Perf: $4,124.89 Date: 1/31/2002 Perf: $4,206.07 Date: 12/31/2001 Perf: $4,268.39 Date: 11/30/2001 Perf: $4,231.15 Date: 10/31/2001 Perf: $3,929.74 Date: 9/30/2001 Perf: $3,856.09 Date: 8/31/2001 Perf: $4,195.05 Date: 7/31/2001 Perf: $4,475.20 Date: 6/30/2001 Perf: $4,519.49 Date: 5/31/2001 Perf: $4,632.05 Date: 4/30/2001 Perf: $4,601.22 Date: 3/31/2001 Perf: $4,269.48 Date: 2/28/2001 Perf: $4,558.49 Date: 1/31/2001 Perf: $5,015.94 Date: 12/31/2000 Perf: $4,843.98 Date: 11/30/2000 Perf: $4,820.36 Date: 10/31/2000 Perf: $5,232.70 Date: 9/30/2000 Perf: $5,254.77 Date: 8/31/2000 Perf: $5,547.69 Date: 7/31/2000 Perf: $5,223.32 Date: 6/30/2000 Perf: $5,306.09 Date: 5/31/2000 Perf: $5,178.19 Date: 4/30/2000 Perf: $5,286.57 Date: 3/31/2000 Perf: $5,450.63 Date: 2/29/2000 Perf: $4,965.05 Date: 1/31/2000 Perf: $5,060.70 Date: 12/31/1999 Perf: $5,328.17 Date: 11/30/1999 Perf: $5,031.80 Date: 10/31/1999 Perf: $4,931.68 Date: 9/30/1999 Perf: $4,638.09 Date: 8/31/1999 Perf: $4,768.76 Date: 7/31/1999 Perf: $4,792.72 Date: 6/30/1999 Perf: $4,947.07 Date: 5/31/1999 Perf: $4,686.94 Date: 4/30/1999 Perf: $4,800.23 Date: 3/31/1999 Perf: $4,621.38 Date: 2/28/1999 Perf: $4,443.64 Date: 1/31/1999 Perf: $4,586.27 Date: 12/31/1998 Perf: $4,402.25 Date: 11/30/1998 Perf: $4,162.49 Date: 10/31/1998 Perf: $3,924.66 Date: 9/30/1998 Perf: $3,629.58 Date: 8/31/1998 Perf: $3,410.93 Date: 7/31/1998 Perf: $3,987.53 Date: 6/30/1998 Perf: $4,030.66 Date: 5/31/1998 Perf: $3,873.40 Date: 4/30/1998 Perf: $3,941.19 Date: 3/31/1998 Perf: $3,901.78 Date: 2/28/1998 Perf: $3,711.74 Date: 1/31/1998 Perf: $3,462.12 Date: 12/31/1997 Perf: $3,424.11 Date: 11/30/1997 Perf: $3,366.21 Date: 10/31/1997 Perf: $3,217.25 Date: 9/30/1997 Perf: $3,328.42 Date: 8/31/1997 Perf: $3,155.50 Date: 7/31/1997 Perf: $3,342.69 Date: 6/30/1997 Perf: $3,096.23 Date: 5/31/1997 Perf: $2,963.47 Date: 4/30/1997 Perf: $2,793.35 Date: 3/31/1997 Perf: $2,635.99 Date: 2/28/1997 Perf: $2,748.97 Date: 1/31/1997 Perf: $2,727.69 Date: 12/31/1996 Perf: $2,567.24 Date: 11/30/1996 Perf: $2,619.10 Date: 10/31/1996 Perf: $2,435.01 Date: 9/30/1996 Perf: $2,369.61 Date: 8/31/1996 Perf: $2,243.31 Date: 7/31/1996 Perf: $2,196.96 Date: 6/30/1996 Perf: $2,298.55 Date: 5/31/1996 Perf: $2,289.85 Date: 4/30/1996 Perf: $2,232.26 Date: 3/31/1996 Perf: $2,199.92 Date: 2/29/1996 Perf: $2,179.00 Date: 1/31/1996 Perf: $2,158.92 Date: 12/31/1995 Perf: $2,087.93 Date: 11/30/1995 Perf: $2,048.40 Date: 10/31/1995 Perf: $1,962.26 Date: 9/30/1995 Perf: $1,969.35 Date: 8/31/1995 Perf: $1,889.60 Date: 7/31/1995 Perf: $1,884.89 Date: 6/30/1995 Perf: $1,824.32 Date: 5/31/1995 Perf: $1,782.96 Date: 4/30/1995 Perf: $1,714.38 Date: 3/31/1995 Perf: $1,665.26 Date: 2/28/1995 Perf: $1,617.54 Date: 1/31/1995 Perf: $1,556.83 Date: 12/31/1994 Perf: $1,517.52 Date: 11/30/1994 Perf: $1,495.39 Date: 10/31/1994 Perf: $1,551.88 Date: 9/30/1994 Perf: $1,517.73 Date: 8/31/1994 Perf: $1,555.85 Date: 7/31/1994 Perf: $1,494.57 Date: 6/30/1994 Perf: $1,447.11 Date: 5/31/1994 Perf: $1,483.45 Date: 4/30/1994 Perf: $1,459.51 Date: 3/31/1994 Perf: $1,441.07 Date: 2/28/1994 Perf: $1,506.76 Date: 1/31/1994 Perf: $1,548.73 Date: 12/31/1993 Perf: $1,497.81 Date: 11/30/1993 Perf: $1,479.90 Date: 10/31/1993 Perf: $1,494.10 Date: 9/30/1993 Perf: $1,463.79 Date: 8/31/1993 Perf: $1,475.15 Date: 7/31/1993 Perf: $1,421.29 Date: 6/30/1993 Perf: $1,426.99 Date: 5/31/1993 Perf: $1,422.87 Date: 4/30/1993 Perf: $1,385.73 Date: 3/31/1993 Perf: $1,420.10 Date: 2/28/1993 Perf: $1,390.75 Date: 1/31/1993 Perf: $1,372.09 Date: 12/31/1992 Perf: $1,360.66 Date: 11/30/1992 Perf: $1,344.13 Date: 10/31/1992 Perf: $1,299.81 Date: 9/30/1992 Perf: $1,295.27 Date: 8/31/1992 Perf: $1,280.17 Date: 7/31/1992 Perf: $1,306.96 Date: 6/30/1992 Perf: $1,255.61 Date: 5/31/1992 Perf: $1,274.60 Date: 4/30/1992 Perf: $1,268.38 Date: 3/31/1992 Perf: $1,232.16 Date: 2/29/1992 Perf: $1,256.66 Date: 1/31/1992 Perf: $1,240.53 Date: 12/31/1991 Perf: $1,264.05 Date: 11/30/1991 Perf: $1,134.28 Date: 10/31/1991 Perf: $1,181.91 Date: 9/30/1991 Perf: $1,166.29 Date: 8/31/1991 Perf: $1,186.09 Date: 7/31/1991 Perf: $1,158.63 Date: 6/30/1991 Perf: $1,107.05 Date: 5/31/1991 Perf: $1,160.18 Date: 4/30/1991 Perf: $1,112.24 Date: 3/31/1991 Perf: $1,109.58 Date: 2/28/1991 Perf: $1,083.36 Date: 1/31/1991 Perf: $1,011.07 Date: 12/31/1990 Perf: $968.83 Date: 11/30/1990 Perf: $942.53 Date: 10/31/1990 Perf: $885.34 Date: 9/30/1990 Perf: $889.17 Date: 8/31/1990 Perf: $934.68 Date: 7/31/1990 Perf: $1,027.58 Date: 6/30/1990 Perf: $1,030.88 Date: 5/31/1990 Perf: $1,037.93 Date: 4/30/1990 Perf: $945.73 Date: 3/31/1990 Perf: $969.98 Date: 2/28/1990 Perf: $944.93 Date: 1/31/1990 Perf: $932.90 Date: 12/31/1989 Perf: $1,000.00 Date: 4/30/2013 Perf: $7,164.65 Date: 3/31/2013 Perf: $6,976.29 Date: 2/28/2013 Perf: $7,061.03 Date: 1/31/2013 Perf: $7,393.75 Date: 12/31/2012 Perf: $6,884.31 Date: 11/30/2012 Perf: $6,732.16 Date: 10/31/2012 Perf: $6,893.47 Date: 9/30/2012 Perf: $6,949.06 Date: 8/31/2012 Perf: $6,983.98 Date: 7/31/2012 Perf: $7,083.14 Date: 6/30/2012 Perf: $6,930.67 Date: 5/31/2012 Perf: $7,000.68 Date: 4/30/2012 Perf: $6,422.64 Date: 3/31/2012 Perf: $6,662.49 Date: 2/29/2012 Perf: $6,882.74 Date: 1/31/2012 Perf: $6,580.05 Date: 12/31/2011 Perf: $6,444.71 Date: 11/30/2011 Perf: $6,374.59 Date: 10/31/2011 Perf: $6,478.25 Date: 9/30/2011 Perf: $6,706.26 Date: 8/31/2011 Perf: $6,822.24 Date: 7/31/2011 Perf: $6,393.85 Date: 6/30/2011 Perf: $6,393.85 Date: 5/31/2011 Perf: $6,511.05 Date: 4/30/2011 Perf: $6,691.72 Date: 3/31/2011 Perf: $6,342.87 Date: 2/28/2011 Perf: $6,539.04 Date: 1/31/2011 Perf: $6,525.98 Date: 12/31/2010 Perf: $6,645.61 Date: 11/30/2010 Perf: $6,579.81 Date: 10/31/2010 Perf: $6,734.71 Date: 9/30/2010 Perf: $6,748.20 Date: 8/31/2010 Perf: $6,928.34 Date: 7/31/2010 Perf: $6,668.28 Date: 6/30/2010 Perf: $6,654.97 Date: 5/31/2010 Perf: $6,661.63 Date: 4/30/2010 Perf: $6,168.17 Date: 3/31/2010 Perf: $6,319.85 Date: 2/28/2010 Perf: $6,555.86 Date: 1/31/2010 Perf: $6,516.76 Date: 12/31/2009 Perf: $6,616.00 Date: 11/30/2009 Perf: $6,827.66 Date: 10/31/2009 Perf: $6,834.49 Date: 9/30/2009 Perf: $6,917.50 Date: 8/31/2009 Perf: $6,828.73 Date: 7/31/2009 Perf: $6,681.73 Date: 6/30/2009 Perf: $6,641.88 Date: 5/31/2009 Perf: $6,791.29 Date: 4/30/2009 Perf: $6,811.72 Date: 3/31/2009 Perf: $6,894.46 Date: 2/28/2009 Perf: $6,957.07 Date: 1/31/2009 Perf: $6,957.07 Date: 12/31/2008 Perf: $6,922.46 Date: 11/30/2008 Perf: $7,013.64 Date: 10/31/2008 Perf: $7,020.66 Date: 9/30/2008 Perf: $6,783.24 Date: 8/31/2008 Perf: $6,796.84 Date: 7/31/2008 Perf: $6,676.66 Date: 6/30/2008 Perf: $6,590.97 Date: 5/31/2008 Perf: $6,405.22 Date: 4/30/2008 Perf: $6,249.00 Date: 3/31/2008 Perf: $6,305.75 Date: 2/29/2008 Perf: $6,139.97 Date: 1/31/2008 Perf: $6,085.20 Date: 12/31/2007 Perf: $6,048.91 Date: 11/30/2007 Perf: $6,216.76 Date: 10/31/2007 Perf: $6,047.43 Date: 9/30/2007 Perf: $5,923.05 Date: 8/31/2007 Perf: $5,641.00 Date: 7/31/2007 Perf: $5,680.77 Date: 6/30/2007 Perf: $5,509.96 Date: 5/31/2007 Perf: $5,287.87 Date: 4/30/2007 Perf: $4,846.81 Date: 3/31/2007 Perf: $4,723.98 Date: 2/28/2007 Perf: $4,920.82 Date: 1/31/2007 Perf: $4,930.68 Date: 12/31/2006 Perf: $4,862.60 Date: 11/30/2006 Perf: $4,886.55 Date: 10/31/2006 Perf: $4,803.92 Date: 9/30/2006 Perf: $4,847.55 Date: 8/31/2006 Perf: $4,778.73 Date: 7/31/2006 Perf: $4,708.11 Date: 6/30/2006 Perf: $4,855.72 Date: 5/31/2006 Perf: $5,016.24 Date: 4/30/2006 Perf: $5,091.60 Date: 3/31/2006 Perf: $4,788.49 Date: 2/28/2006 Perf: $4,737.33 Date: 1/31/2006 Perf: $4,826.13 Date: 12/31/2005 Perf: $4,730.57 Date: 11/30/2005 Perf: $4,850.37 Date: 10/31/2005 Perf: $4,658.00 Date: 9/30/2005 Perf: $4,700.30 Date: 8/31/2005 Perf: $4,830.23 Date: 7/31/2005 Perf: $4,765.42 Date: 6/30/2005 Perf: $4,673.82 Date: 5/31/2005 Perf: $4,514.89 Date: 4/30/2005 Perf: $4,315.93 Date: 3/31/2005 Perf: $4,312.05 Date: 2/28/2005 Perf: $4,322.42 Date: 1/31/2005 Perf: $4,308.63 Date: 12/31/2004 Perf: $4,346.01 Date: 11/30/2004 Perf: $4,431.99 Date: 10/31/2004 Perf: $4,310.02 Date: 9/30/2004 Perf: $4,131.93 Date: 8/31/2004 Perf: $4,258.41 Date: 7/31/2004 Perf: $4,148.87 Date: 6/30/2004 Perf: $4,203.09 Date: 5/31/2004 Perf: $4,377.31 Date: 4/30/2004 Perf: $4,413.06 Date: 3/31/2004 Perf: $4,251.50 Date: 2/29/2004 Perf: $4,366.78 Date: 1/31/2004 Perf: $4,405.11 Date: 12/31/2003 Perf: $4,438.40 Date: 11/30/2003 Perf: $4,446.84 Date: 10/31/2003 Perf: $4,582.49 Date: 9/30/2003 Perf: $4,737.40 Date: 8/31/2003 Perf: $4,761.68 Date: 7/31/2003 Perf: $4,691.31 Date: 6/30/2003 Perf: $4,879.67 Date: 5/31/2003 Perf: $4,859.74 Date: 4/30/2003 Perf: $4,629.21 Date: 3/31/2003 Perf: $4,657.62 Date: 2/28/2003 Perf: $4,679.62 Date: 1/31/2003 Perf: $4,688.99 Date: 12/31/2002 Perf: $4,870.16 Date: 11/30/2002 Perf: $4,773.73 Date: 10/31/2002 Perf: $4,823.42 Date: 9/30/2002 Perf: $4,812.83 Date: 8/31/2002 Perf: $4,761.40 Date: 7/31/2002 Perf: $4,671.25 Date: 6/30/2002 Perf: $4,747.69 Date: 5/31/2002 Perf: $4,479.37 Date: 4/30/2002 Perf: $4,692.90 Date: 3/31/2002 Perf: $4,659.81 Date: 2/28/2002 Perf: $4,179.58 Date: 1/31/2002 Perf: $4,568.35 Date: 12/31/2001 Perf: $4,466.95 Date: 11/30/2001 Perf: $4,630.40 Date: 10/31/2001 Perf: $5,238.01 Date: 9/30/2001 Perf: $5,115.74 Date: 8/31/2001 Perf: $5,136.80 Date: 7/31/2001 Perf: $4,920.78 Date: 6/30/2001 Perf: $4,947.00 Date: 5/31/2001 Perf: $5,047.96 Date: 4/30/2001 Perf: $5,195.51 Date: 3/31/2001 Perf: $5,285.36 Date: 2/28/2001 Perf: $5,045.21 Date: 1/31/2001 Perf: $5,165.57 Date: 12/31/2000 Perf: $5,257.04 Date: 11/30/2000 Perf: $4,819.44 Date: 10/31/2000 Perf: $4,624.29 Date: 9/30/2000 Perf: $4,458.44 Date: 8/31/2000 Perf: $4,380.47 Date: 7/31/2000 Perf: $4,238.89 Date: 6/30/2000 Perf: $4,296.90 Date: 5/31/2000 Perf: $4,507.86 Date: 4/30/2000 Perf: $4,644.89 Date: 3/31/2000 Perf: $4,722.81 Date: 2/29/2000 Perf: $4,710.57 Date: 1/31/2000 Perf: $4,805.72 Date: 12/31/1999 Perf: $4,613.79 Date: 11/30/1999 Perf: $4,620.25 Date: 10/31/1999 Perf: $4,596.35 Date: 9/30/1999 Perf: $4,381.65 Date: 8/31/1999 Perf: $4,322.44 Date: 7/31/1999 Perf: $4,299.22 Date: 6/30/1999 Perf: $4,142.63 Date: 5/31/1999 Perf: $3,976.03 Date: 4/30/1999 Perf: $4,061.73 Date: 3/31/1999 Perf: $3,843.79 Date: 2/28/1999 Perf: $3,810.64 Date: 1/31/1999 Perf: $3,865.14 Date: 12/31/1998 Perf: $4,063.86 Date: 11/30/1998 Perf: $4,053.32 Date: 10/31/1998 Perf: $3,850.41 Date: 9/30/1998 Perf: $3,930.19 Date: 8/31/1998 Perf: $3,772.14 Date: 7/31/1998 Perf: $3,393.43 Date: 6/30/1998 Perf: $3,446.16 Date: 5/31/1998 Perf: $3,438.25 Date: 4/30/1998 Perf: $3,449.63 Date: 3/31/1998 Perf: $3,624.70 Date: 2/28/1998 Perf: $3,678.78 Date: 1/31/1998 Perf: $3,769.24 Date: 12/31/1997 Perf: $3,797.34 Date: 11/30/1997 Perf: $3,713.06 Date: 10/31/1997 Perf: $3,726.85 Date: 9/30/1997 Perf: $3,811.85 Date: 8/31/1997 Perf: $3,793.26 Date: 7/31/1997 Perf: $3,841.28 Date: 6/30/1997 Perf: $3,752.35 Date: 5/31/1997 Perf: $3,850.93 Date: 4/30/1997 Perf: $3,739.86 Date: 3/31/1997 Perf: $3,845.22 Date: 2/28/1997 Perf: $3,864.15 Date: 1/31/1997 Perf: $3,793.59 Date: 12/31/1996 Perf: $3,705.04 Date: 11/30/1996 Perf: $3,783.74 Date: 10/31/1996 Perf: $3,672.47 Date: 9/30/1996 Perf: $3,580.80 Date: 8/31/1996 Perf: $3,507.84 Date: 7/31/1996 Perf: $3,511.00 Date: 6/30/1996 Perf: $3,491.44 Date: 5/31/1996 Perf: $3,539.94 Date: 4/30/1996 Perf: $3,534.99 Date: 3/31/1996 Perf: $3,353.88 Date: 2/29/1996 Perf: $3,179.04 Date: 1/31/1996 Perf: $3,247.23 Date: 12/31/1995 Perf: $3,131.37 Date: 11/30/1995 Perf: $2,821.05 Date: 10/31/1995 Perf: $2,717.78 Date: 9/30/1995 Perf: $2,944.50 Date: 8/31/1995 Perf: $2,944.50 Date: 7/31/1995 Perf: $2,926.94 Date: 6/30/1995 Perf: $2,903.71 Date: 5/31/1995 Perf: $3,012.15 Date: 4/30/1995 Perf: $2,958.89 Date: 3/31/1995 Perf: $2,918.04 Date: 2/28/1995 Perf: $2,877.75 Date: 1/31/1995 Perf: $2,886.41 Date: 12/31/1994 Perf: $2,872.05 Date: 11/30/1994 Perf: $2,791.10 Date: 10/31/1994 Perf: $2,640.59 Date: 9/30/1994 Perf: $2,604.13 Date: 8/31/1994 Perf: $2,560.60 Date: 7/31/1994 Perf: $2,768.22 Date: 6/30/1994 Perf: $2,813.23 Date: 5/31/1994 Perf: $2,559.81 Date: 4/30/1994 Perf: $2,492.51 Date: 3/31/1994 Perf: $2,331.63 Date: 2/28/1994 Perf: $2,355.18 Date: 1/31/1994 Perf: $2,494.90 Date: 12/31/1993 Perf: $2,520.10 Date: 11/30/1993 Perf: $2,420.61 Date: 10/31/1993 Perf: $2,300.96 Date: 9/30/1993 Perf: $2,065.49 Date: 8/31/1993 Perf: $1,889.75 Date: 7/31/1993 Perf: $1,759.54 Date: 6/30/1993 Perf: $1,740.40 Date: 5/31/1993 Perf: $1,625.02 Date: 4/30/1993 Perf: $1,661.57 Date: 3/31/1993 Perf: $1,656.61 Date: 2/28/1993 Perf: $1,636.96 Date: 1/31/1993 Perf: $1,622.36 Date: 12/31/1992 Perf: $1,798.63 Date: 11/30/1992 Perf: $1,844.74 Date: 10/31/1992 Perf: $1,746.92 Date: 9/30/1992 Perf: $1,915.48 Date: 8/31/1992 Perf: $2,166.83 Date: 7/31/1992 Perf: $2,215.57 Date: 6/30/1992 Perf: $2,003.23 Date: 5/31/1992 Perf: $1,906.02 Date: 4/30/1992 Perf: $1,921.40 Date: 3/31/1992 Perf: $1,976.74 Date: 2/29/1992 Perf: $2,023.28 Date: 1/31/1992 Perf: $2,152.43 Date: 12/31/1991 Perf: $2,223.58 Date: 11/30/1991 Perf: $1,900.50 Date: 10/31/1991 Perf: $2,006.86 Date: 9/30/1991 Perf: $1,956.00 Date: 8/31/1991 Perf: $1,900.88 Date: 7/31/1991 Perf: $1,824.26 Date: 6/30/1991 Perf: $1,800.85 Date: 5/31/1991 Perf: $1,574.17 Date: 4/30/1991 Perf: $1,720.40 Date: 3/31/1991 Perf: $1,784.65 Date: 2/28/1991 Perf: $1,874.63 Date: 1/31/1991 Perf: $1,812.99 Date: 12/31/1990 Perf: $1,807.57 Date: 11/30/1990 Perf: $1,888.78 Date: 10/31/1990 Perf: $1,783.55 Date: 9/30/1990 Perf: $1,771.16 Date: 8/31/1990 Perf: $1,629.40 Date: 7/31/1990 Perf: $1,357.83 Date: 6/30/1990 Perf: $1,237.77 Date: 5/31/1990 Perf: $1,206.40 Date: 4/30/1990 Perf: $1,236.07 Date: 3/31/1990 Perf: $1,196.58 Date: 2/28/1990 Perf: $1,118.30 Date: 1/31/1990 Perf: $1,060.00 Date: 12/31/1989 Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 12/89 - 04/13
Date: 4/30/2013 Return: 2.70 % Date: 3/31/2013 Return: -1.20 % Date: 2/28/2013 Return: -4.50 % Date: 1/31/2013 Return: 7.40 % Date: 12/31/2012 Return: 2.26 % Date: 11/30/2012 Return: -2.34 % Date: 10/31/2012 Return: -0.80 % Date: 9/30/2012 Return: -0.50 % Date: 8/31/2012 Return: -1.40 % Date: 7/31/2012 Return: 2.20 % Date: 6/30/2012 Return: -1.00 % Date: 5/31/2012 Return: 9.00 % Date: 4/30/2012 Return: -3.60 % Date: 3/31/2012 Return: -3.20 % Date: 2/29/2012 Return: 4.60 % Date: 1/31/2012 Return: 2.10 % Date: 12/31/2011 Return: 1.10 % Date: 11/30/2011 Return: -1.60 % Date: 10/31/2011 Return: -3.40 % Date: 9/30/2011 Return: -1.70 % Date: 8/31/2011 Return: 6.70 % Date: 7/31/2011 Return: 0.00 % Date: 6/30/2011 Return: -1.80 % Date: 5/31/2011 Return: -2.70 % Date: 4/30/2011 Return: 5.50 % Date: 3/31/2011 Return: -3.00 % Date: 2/28/2011 Return: 0.20 % Date: 1/31/2011 Return: -1.80 % Date: 12/31/2010 Return: 1.00 % Date: 11/30/2010 Return: -2.30 % Date: 10/31/2010 Return: -0.20 % Date: 9/30/2010 Return: -2.60 % Date: 8/31/2010 Return: 3.90 % Date: 7/31/2010 Return: 0.20 % Date: 6/30/2010 Return: -0.10 % Date: 5/31/2010 Return: 8.00 % Date: 4/30/2010 Return: -2.40 % Date: 3/31/2010 Return: -3.60 % Date: 2/28/2010 Return: 0.60 % Date: 1/31/2010 Return: -1.50 % Date: 12/31/2009 Return: -3.10 % Date: 11/30/2009 Return: -0.10 % Date: 10/31/2009 Return: -1.20 % Date: 9/30/2009 Return: 1.30 % Date: 8/31/2009 Return: 2.20 % Date: 7/31/2009 Return: 0.60 % Date: 6/30/2009 Return: -2.20 % Date: 5/31/2009 Return: -0.30 % Date: 4/30/2009 Return: -1.20 % Date: 3/31/2009 Return: -0.90 % Date: 2/28/2009 Return: 0.00 % Date: 1/31/2009 Return: 0.50 % Date: 12/31/2008 Return: -1.30 % Date: 11/30/2008 Return: -0.10 % Date: 10/31/2008 Return: 3.50 % Date: 9/30/2008 Return: -0.20 % Date: 8/31/2008 Return: 1.80 % Date: 7/31/2008 Return: 1.30 % Date: 6/30/2008 Return: 2.90 % Date: 5/31/2008 Return: 2.50 % Date: 4/30/2008 Return: -0.90 % Date: 3/31/2008 Return: 2.70 % Date: 2/29/2008 Return: 0.90 % Date: 1/31/2008 Return: 0.60 % Date: 12/31/2007 Return: -2.70 % Date: 11/30/2007 Return: 2.80 % Date: 10/31/2007 Return: 2.10 % Date: 9/30/2007 Return: 5.00 % Date: 8/31/2007 Return: -0.70 % Date: 7/31/2007 Return: 3.10 % Date: 6/30/2007 Return: 4.20 % Date: 5/31/2007 Return: 9.10 % Date: 4/30/2007 Return: 2.60 % Date: 3/31/2007 Return: -4.00 % Date: 2/28/2007 Return: -0.20 % Date: 1/31/2007 Return: 1.40 % Date: 12/31/2006 Return: -0.49 % Date: 11/30/2006 Return: 1.72 % Date: 10/31/2006 Return: -0.90 % Date: 9/30/2006 Return: 1.44 % Date: 8/31/2006 Return: 1.50 % Date: 7/31/2006 Return: -3.04 % Date: 6/30/2006 Return: -3.20 % Date: 5/31/2006 Return: -1.48 % Date: 4/30/2006 Return: 6.33 % Date: 3/31/2006 Return: 1.08 % Date: 2/28/2006 Return: -1.84 % Date: 1/31/2006 Return: 2.02 % Date: 12/31/2005 Return: -2.47 % Date: 11/30/2005 Return: 4.13 % Date: 10/31/2005 Return: -0.90 % Date: 9/30/2005 Return: -2.69 % Date: 8/31/2005 Return: 1.36 % Date: 7/31/2005 Return: 1.96 % Date: 6/30/2005 Return: 3.52 % Date: 5/31/2005 Return: 4.61 % Date: 4/30/2005 Return: 0.09 % Date: 3/31/2005 Return: -0.24 % Date: 2/28/2005 Return: 0.32 % Date: 1/31/2005 Return: -0.86 % Date: 12/31/2004 Return: -1.94 % Date: 11/30/2004 Return: 2.83 % Date: 10/31/2004 Return: 4.31 % Date: 9/30/2004 Return: -2.97 % Date: 8/31/2004 Return: 2.64 % Date: 7/31/2004 Return: -1.29 % Date: 6/30/2004 Return: -3.98 % Date: 5/31/2004 Return: -0.81 % Date: 4/30/2004 Return: 3.80 % Date: 3/31/2004 Return: -2.64 % Date: 2/29/2004 Return: -0.87 % Date: 1/31/2004 Return: -0.75 % Date: 12/31/2003 Return: -0.19 % Date: 11/30/2003 Return: -2.96 % Date: 10/31/2003 Return: -3.27 % Date: 9/30/2003 Return: -0.51 % Date: 8/31/2003 Return: 1.50 % Date: 7/31/2003 Return: -3.86 % Date: 6/30/2003 Return: 0.41 % Date: 5/31/2003 Return: 4.98 % Date: 4/30/2003 Return: -0.61 % Date: 3/31/2003 Return: -0.47 % Date: 2/28/2003 Return: -0.20 % Date: 1/31/2003 Return: -3.72 % Date: 12/31/2002 Return: 2.02 % Date: 11/30/2002 Return: -1.03 % Date: 10/31/2002 Return: 0.22 % Date: 9/30/2002 Return: 1.08 % Date: 8/31/2002 Return: 1.93 % Date: 7/31/2002 Return: -1.61 % Date: 6/30/2002 Return: 5.99 % Date: 5/31/2002 Return: -4.55 % Date: 4/30/2002 Return: 0.71 % Date: 3/31/2002 Return: 11.49 % Date: 2/28/2002 Return: -8.51 % Date: 1/31/2002 Return: 2.27 % Date: 12/31/2001 Return: -3.53 % Date: 11/30/2001 Return: -11.60 % Date: 10/31/2001 Return: 2.39 % Date: 9/30/2001 Return: -0.41 % Date: 8/31/2001 Return: 4.39 % Date: 7/31/2001 Return: -0.53 % Date: 6/30/2001 Return: -2.00 % Date: 5/31/2001 Return: -2.84 % Date: 4/30/2001 Return: -1.70 % Date: 3/31/2001 Return: 4.76 % Date: 2/28/2001 Return: -2.33 % Date: 1/31/2001 Return: -1.74 % Date: 12/31/2000 Return: 9.08 % Date: 11/30/2000 Return: 4.22 % Date: 10/31/2000 Return: 3.72 % Date: 9/30/2000 Return: 1.78 % Date: 8/31/2000 Return: 3.34 % Date: 7/31/2000 Return: -1.35 % Date: 6/30/2000 Return: -4.68 % Date: 5/31/2000 Return: -2.95 % Date: 4/30/2000 Return: -1.65 % Date: 3/31/2000 Return: 0.26 % Date: 2/29/2000 Return: -1.98 % Date: 1/31/2000 Return: 4.16 % Date: 12/31/1999 Return: -0.14 % Date: 11/30/1999 Return: 0.52 % Date: 10/31/1999 Return: 4.90 % Date: 9/30/1999 Return: 1.37 % Date: 8/31/1999 Return: 0.54 % Date: 7/31/1999 Return: 3.78 % Date: 6/30/1999 Return: 4.19 % Date: 5/31/1999 Return: -2.11 % Date: 4/30/1999 Return: 5.67 % Date: 3/31/1999 Return: 0.87 % Date: 2/28/1999 Return: -1.41 % Date: 1/31/1999 Return: -4.89 % Date: 12/31/1998 Return: 0.26 % Date: 11/30/1998 Return: 5.27 % Date: 10/31/1998 Return: -2.03 % Date: 9/30/1998 Return: 4.19 % Date: 8/31/1998 Return: 11.16 % Date: 7/31/1998 Return: -1.53 % Date: 6/30/1998 Return: 0.23 % Date: 5/31/1998 Return: -0.33 % Date: 4/30/1998 Return: -4.83 % Date: 3/31/1998 Return: -1.47 % Date: 2/28/1998 Return: -2.40 % Date: 1/31/1998 Return: -0.74 % Date: 12/31/1997 Return: 2.27 % Date: 11/30/1997 Return: -0.37 % Date: 10/31/1997 Return: -2.23 % Date: 9/30/1997 Return: 0.49 % Date: 8/31/1997 Return: -1.25 % Date: 7/31/1997 Return: 2.37 % Date: 6/30/1997 Return: -2.56 % Date: 5/31/1997 Return: 2.97 % Date: 4/30/1997 Return: -2.74 % Date: 3/31/1997 Return: -0.49 % Date: 2/28/1997 Return: 1.86 % Date: 1/31/1997 Return: 2.39 % Date: 12/31/1996 Return: -2.08 % Date: 11/30/1996 Return: 3.03 % Date: 10/31/1996 Return: 2.56 % Date: 9/30/1996 Return: 2.08 % Date: 8/31/1996 Return: -0.09 % Date: 7/31/1996 Return: 0.56 % Date: 6/30/1996 Return: -1.37 % Date: 5/31/1996 Return: 0.14 % Date: 4/30/1996 Return: 5.40 % Date: 3/31/1996 Return: 5.50 % Date: 2/29/1996 Return: -2.10 % Date: 1/31/1996 Return: 3.70 % Date: 12/31/1995 Return: 11.00 % Date: 11/30/1995 Return: 3.80 % Date: 10/31/1995 Return: -7.70 % Date: 9/30/1995 Return: 0.00 % Date: 8/31/1995 Return: 0.60 % Date: 7/31/1995 Return: 0.80 % Date: 6/30/1995 Return: -3.60 % Date: 5/31/1995 Return: 1.80 % Date: 4/30/1995 Return: 1.40 % Date: 3/31/1995 Return: 1.40 % Date: 2/28/1995 Return: -0.30 % Date: 1/31/1995 Return: 0.50 % Date: 12/31/1994 Return: 2.90 % Date: 11/30/1994 Return: 5.70 % Date: 10/31/1994 Return: 1.40 % Date: 9/30/1994 Return: 1.70 % Date: 8/31/1994 Return: -7.50 % Date: 7/31/1994 Return: -1.60 % Date: 6/30/1994 Return: 9.90 % Date: 5/31/1994 Return: 2.70 % Date: 4/30/1994 Return: 6.90 % Date: 3/31/1994 Return: -1.00 % Date: 2/28/1994 Return: -5.60 % Date: 1/31/1994 Return: -1.00 % Date: 12/31/1993 Return: 4.11 % Date: 11/30/1993 Return: 5.20 % Date: 10/31/1993 Return: 11.40 % Date: 9/30/1993 Return: 9.30 % Date: 8/31/1993 Return: 7.40 % Date: 7/31/1993 Return: 1.10 % Date: 6/30/1993 Return: 7.10 % Date: 5/31/1993 Return: -2.20 % Date: 4/30/1993 Return: 0.30 % Date: 3/31/1993 Return: 1.20 % Date: 2/28/1993 Return: 0.90 % Date: 1/31/1993 Return: -9.80 % Date: 12/31/1992 Return: -2.50 % Date: 11/30/1992 Return: 5.60 % Date: 10/31/1992 Return: -8.80 % Date: 9/30/1992 Return: -11.60 % Date: 8/31/1992 Return: -2.20 % Date: 7/31/1992 Return: 10.60 % Date: 6/30/1992 Return: 5.10 % Date: 5/31/1992 Return: -0.80 % Date: 4/30/1992 Return: -2.80 % Date: 3/31/1992 Return: -2.30 % Date: 2/29/1992 Return: -6.00 % Date: 1/31/1992 Return: -3.20 % Date: 12/31/1991 Return: 17.00 % Date: 11/30/1991 Return: -5.30 % Date: 10/31/1991 Return: 2.60 % Date: 9/30/1991 Return: 2.90 % Date: 8/31/1991 Return: 4.20 % Date: 7/31/1991 Return: 1.30 % Date: 6/30/1991 Return: 14.40 % Date: 5/31/1991 Return: -8.50 % Date: 4/30/1991 Return: -3.60 % Date: 3/31/1991 Return: -4.80 % Date: 2/28/1991 Return: 3.40 % Date: 1/31/1991 Return: 0.30 % Date: 12/31/1990 Return: -4.30 % Date: 11/30/1990 Return: 5.90 % Date: 10/31/1990 Return: 0.70 % Date: 9/30/1990 Return: 8.70 % Date: 8/31/1990 Return: 20.00 % Date: 7/31/1990 Return: 9.70 % Date: 6/30/1990 Return: 2.60 % Date: 5/31/1990 Return: -2.40 % Date: 4/30/1990 Return: 3.30 % Date: 3/31/1990 Return: 7.00 % Date: 2/28/1990 Return: 5.50 % Date: 1/31/1990 Return: 6.00 % Date: 12/31/1989 Return: 7.80 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 12/89 - 04/13
Return: 2.00 % Count: 23 Return: -8.00 % Count: 2 Return: -10.00 % Count: 1 Return: -12.00 % Count: 2 Return: 11.00 % Count: 5 Return: -1.00 % Count: 33 Return: -6.00 % Count: 2 Return: -3.00 % Count: 20 Return: 17.00 % Count: 1 Return: 4.00 % Count: 18 Return: 14.00 % Count: 1 Return: -9.00 % Count: 3 Return: -5.00 % Count: 7 Return: 0.00 % Count: 36 Return: -4.00 % Count: 10 Return: 1.00 % Count: 31 Return: 9.00 % Count: 5 Return: 20.00 % Count: 1 Return: 10.00 % Count: 2 Return: -2.00 % Count: 31 Return: 3.00 % Count: 19 Return: 7.00 % Count: 6 Return: 5.00 % Count: 12 Return: 6.00 % Count: 8 Return: 8.00 % Count: 2
Note: All performance data is since program inception.

Underwater Curve
Date Range: 12/89 - 04/13
Date: 4/30/2013 Drawdown: -3.10 % Date: 3/31/2013 Drawdown: -5.65 % Date: 2/28/2013 Drawdown: -4.50 % Date: 1/31/2013 Drawdown: 0.00 % Date: 12/31/2012 Drawdown: -2.81 % Date: 11/30/2012 Drawdown: -4.96 % Date: 10/31/2012 Drawdown: -2.68 % Date: 9/30/2012 Drawdown: -1.89 % Date: 8/31/2012 Drawdown: -1.40 % Date: 7/31/2012 Drawdown: 0.00 % Date: 6/30/2012 Drawdown: -1.28 % Date: 5/31/2012 Drawdown: -0.28 % Date: 4/30/2012 Drawdown: -8.52 % Date: 3/31/2012 Drawdown: -5.10 % Date: 2/29/2012 Drawdown: -1.96 % Date: 1/31/2012 Drawdown: -6.28 % Date: 12/31/2011 Drawdown: -8.20 % Date: 11/30/2011 Drawdown: -9.20 % Date: 10/31/2011 Drawdown: -7.73 % Date: 9/30/2011 Drawdown: -4.48 % Date: 8/31/2011 Drawdown: -2.83 % Date: 7/31/2011 Drawdown: -8.93 % Date: 6/30/2011 Drawdown: -8.93 % Date: 5/31/2011 Drawdown: -7.26 % Date: 4/30/2011 Drawdown: -4.69 % Date: 3/31/2011 Drawdown: -9.65 % Date: 2/28/2011 Drawdown: -6.86 % Date: 1/31/2011 Drawdown: -7.05 % Date: 12/31/2010 Drawdown: -5.34 % Date: 11/30/2010 Drawdown: -6.28 % Date: 10/31/2010 Drawdown: -4.07 % Date: 9/30/2010 Drawdown: -3.88 % Date: 8/31/2010 Drawdown: -1.31 % Date: 7/31/2010 Drawdown: -5.02 % Date: 6/30/2010 Drawdown: -5.21 % Date: 5/31/2010 Drawdown: -5.11 % Date: 4/30/2010 Drawdown: -12.14 % Date: 3/31/2010 Drawdown: -9.98 % Date: 2/28/2010 Drawdown: -6.62 % Date: 1/31/2010 Drawdown: -7.18 % Date: 12/31/2009 Drawdown: -5.76 % Date: 11/30/2009 Drawdown: -2.75 % Date: 10/31/2009 Drawdown: -2.65 % Date: 9/30/2009 Drawdown: -1.47 % Date: 8/31/2009 Drawdown: -2.73 % Date: 7/31/2009 Drawdown: -4.83 % Date: 6/30/2009 Drawdown: -5.40 % Date: 5/31/2009 Drawdown: -3.27 % Date: 4/30/2009 Drawdown: -2.98 % Date: 3/31/2009 Drawdown: -1.80 % Date: 2/28/2009 Drawdown: -0.91 % Date: 1/31/2009 Drawdown: -0.91 % Date: 12/31/2008 Drawdown: -1.40 % Date: 11/30/2008 Drawdown: -0.10 % Date: 10/31/2008 Drawdown: 0.00 % Date: 9/30/2008 Drawdown: -0.20 % Date: 8/31/2008 Drawdown: 0.00 % Date: 7/31/2008 Drawdown: 0.00 % Date: 6/30/2008 Drawdown: 0.00 % Date: 5/31/2008 Drawdown: 0.00 % Date: 4/30/2008 Drawdown: -0.90 % Date: 3/31/2008 Drawdown: 0.00 % Date: 2/29/2008 Drawdown: -1.24 % Date: 1/31/2008 Drawdown: -2.12 % Date: 12/31/2007 Drawdown: -2.70 % Date: 11/30/2007 Drawdown: 0.00 % Date: 10/31/2007 Drawdown: 0.00 % Date: 9/30/2007 Drawdown: 0.00 % Date: 8/31/2007 Drawdown: -0.70 % Date: 7/31/2007 Drawdown: 0.00 % Date: 6/30/2007 Drawdown: 0.00 % Date: 5/31/2007 Drawdown: 0.00 % Date: 4/30/2007 Drawdown: -8.30 % Date: 3/31/2007 Drawdown: -10.62 % Date: 2/28/2007 Drawdown: -6.90 % Date: 1/31/2007 Drawdown: -6.71 % Date: 12/31/2006 Drawdown: -8.00 % Date: 11/30/2006 Drawdown: -7.55 % Date: 10/31/2006 Drawdown: -9.11 % Date: 9/30/2006 Drawdown: -8.28 % Date: 8/31/2006 Drawdown: -9.59 % Date: 7/31/2006 Drawdown: -10.92 % Date: 6/30/2006 Drawdown: -8.13 % Date: 5/31/2006 Drawdown: -5.09 % Date: 4/30/2006 Drawdown: -3.67 % Date: 3/31/2006 Drawdown: -9.40 % Date: 2/28/2006 Drawdown: -10.37 % Date: 1/31/2006 Drawdown: -8.69 % Date: 12/31/2005 Drawdown: -10.50 % Date: 11/30/2005 Drawdown: -8.23 % Date: 10/31/2005 Drawdown: -11.87 % Date: 9/30/2005 Drawdown: -11.07 % Date: 8/31/2005 Drawdown: -8.61 % Date: 7/31/2005 Drawdown: -9.84 % Date: 6/30/2005 Drawdown: -11.57 % Date: 5/31/2005 Drawdown: -14.58 % Date: 4/30/2005 Drawdown: -18.34 % Date: 3/31/2005 Drawdown: -18.42 % Date: 2/28/2005 Drawdown: -18.22 % Date: 1/31/2005 Drawdown: -18.48 % Date: 12/31/2004 Drawdown: -17.77 % Date: 11/30/2004 Drawdown: -16.15 % Date: 10/31/2004 Drawdown: -18.45 % Date: 9/30/2004 Drawdown: -21.82 % Date: 8/31/2004 Drawdown: -19.43 % Date: 7/31/2004 Drawdown: -21.50 % Date: 6/30/2004 Drawdown: -20.48 % Date: 5/31/2004 Drawdown: -17.18 % Date: 4/30/2004 Drawdown: -16.50 % Date: 3/31/2004 Drawdown: -19.56 % Date: 2/29/2004 Drawdown: -17.38 % Date: 1/31/2004 Drawdown: -16.65 % Date: 12/31/2003 Drawdown: -16.02 % Date: 11/30/2003 Drawdown: -15.86 % Date: 10/31/2003 Drawdown: -13.30 % Date: 9/30/2003 Drawdown: -10.37 % Date: 8/31/2003 Drawdown: -9.91 % Date: 7/31/2003 Drawdown: -11.24 % Date: 6/30/2003 Drawdown: -7.68 % Date: 5/31/2003 Drawdown: -8.05 % Date: 4/30/2003 Drawdown: -12.41 % Date: 3/31/2003 Drawdown: -11.88 % Date: 2/28/2003 Drawdown: -11.46 % Date: 1/31/2003 Drawdown: -11.28 % Date: 12/31/2002 Drawdown: -7.86 % Date: 11/30/2002 Drawdown: -9.68 % Date: 10/31/2002 Drawdown: -8.74 % Date: 9/30/2002 Drawdown: -8.94 % Date: 8/31/2002 Drawdown: -9.91 % Date: 7/31/2002 Drawdown: -11.62 % Date: 6/30/2002 Drawdown: -10.17 % Date: 5/31/2002 Drawdown: -15.25 % Date: 4/30/2002 Drawdown: -11.21 % Date: 3/31/2002 Drawdown: -11.84 % Date: 2/28/2002 Drawdown: -20.92 % Date: 1/31/2002 Drawdown: -13.57 % Date: 12/31/2001 Drawdown: -15.48 % Date: 11/30/2001 Drawdown: -12.39 % Date: 10/31/2001 Drawdown: -0.90 % Date: 9/30/2001 Drawdown: -3.21 % Date: 8/31/2001 Drawdown: -2.81 % Date: 7/31/2001 Drawdown: -6.90 % Date: 6/30/2001 Drawdown: -6.40 % Date: 5/31/2001 Drawdown: -4.49 % Date: 4/30/2001 Drawdown: -1.70 % Date: 3/31/2001 Drawdown: 0.00 % Date: 2/28/2001 Drawdown: -4.03 % Date: 1/31/2001 Drawdown: -1.74 % Date: 12/31/2000 Drawdown: 0.00 % Date: 11/30/2000 Drawdown: 0.00 % Date: 10/31/2000 Drawdown: -3.78 % Date: 9/30/2000 Drawdown: -7.23 % Date: 8/31/2000 Drawdown: -8.85 % Date: 7/31/2000 Drawdown: -11.79 % Date: 6/30/2000 Drawdown: -10.59 % Date: 5/31/2000 Drawdown: -6.20 % Date: 4/30/2000 Drawdown: -3.35 % Date: 3/31/2000 Drawdown: -1.73 % Date: 2/29/2000 Drawdown: -1.98 % Date: 1/31/2000 Drawdown: 0.00 % Date: 12/31/1999 Drawdown: -0.14 % Date: 11/30/1999 Drawdown: 0.00 % Date: 10/31/1999 Drawdown: 0.00 % Date: 9/30/1999 Drawdown: 0.00 % Date: 8/31/1999 Drawdown: 0.00 % Date: 7/31/1999 Drawdown: 0.00 % Date: 6/30/1999 Drawdown: 0.00 % Date: 5/31/1999 Drawdown: -2.16 % Date: 4/30/1999 Drawdown: -0.05 % Date: 3/31/1999 Drawdown: -5.42 % Date: 2/28/1999 Drawdown: -6.23 % Date: 1/31/1999 Drawdown: -4.89 % Date: 12/31/1998 Drawdown: 0.00 % Date: 11/30/1998 Drawdown: 0.00 % Date: 10/31/1998 Drawdown: -2.03 % Date: 9/30/1998 Drawdown: 0.00 % Date: 8/31/1998 Drawdown: -2.38 % Date: 7/31/1998 Drawdown: -12.18 % Date: 6/30/1998 Drawdown: -10.82 % Date: 5/31/1998 Drawdown: -11.02 % Date: 4/30/1998 Drawdown: -10.73 % Date: 3/31/1998 Drawdown: -6.20 % Date: 2/28/1998 Drawdown: -4.80 % Date: 1/31/1998 Drawdown: -2.46 % Date: 12/31/1997 Drawdown: -1.73 % Date: 11/30/1997 Drawdown: -3.91 % Date: 10/31/1997 Drawdown: -3.55 % Date: 9/30/1997 Drawdown: -1.35 % Date: 8/31/1997 Drawdown: -1.83 % Date: 7/31/1997 Drawdown: -0.59 % Date: 6/30/1997 Drawdown: -2.89 % Date: 5/31/1997 Drawdown: -0.34 % Date: 4/30/1997 Drawdown: -3.22 % Date: 3/31/1997 Drawdown: -0.49 % Date: 2/28/1997 Drawdown: 0.00 % Date: 1/31/1997 Drawdown: 0.00 % Date: 12/31/1996 Drawdown: -2.08 % Date: 11/30/1996 Drawdown: 0.00 % Date: 10/31/1996 Drawdown: 0.00 % Date: 9/30/1996 Drawdown: 0.00 % Date: 8/31/1996 Drawdown: -0.91 % Date: 7/31/1996 Drawdown: -0.82 % Date: 6/30/1996 Drawdown: -1.37 % Date: 5/31/1996 Drawdown: 0.00 % Date: 4/30/1996 Drawdown: 0.00 % Date: 3/31/1996 Drawdown: 0.00 % Date: 2/29/1996 Drawdown: -2.10 % Date: 1/31/1996 Drawdown: 0.00 % Date: 12/31/1995 Drawdown: 0.00 % Date: 11/30/1995 Drawdown: -6.34 % Date: 10/31/1995 Drawdown: -9.77 % Date: 9/30/1995 Drawdown: -2.25 % Date: 8/31/1995 Drawdown: -2.25 % Date: 7/31/1995 Drawdown: -2.83 % Date: 6/30/1995 Drawdown: -3.60 % Date: 5/31/1995 Drawdown: 0.00 % Date: 4/30/1995 Drawdown: 0.00 % Date: 3/31/1995 Drawdown: 0.00 % Date: 2/28/1995 Drawdown: -0.30 % Date: 1/31/1995 Drawdown: 0.00 % Date: 12/31/1994 Drawdown: 0.00 % Date: 11/30/1994 Drawdown: -0.79 % Date: 10/31/1994 Drawdown: -6.14 % Date: 9/30/1994 Drawdown: -7.43 % Date: 8/31/1994 Drawdown: -8.98 % Date: 7/31/1994 Drawdown: -1.60 % Date: 6/30/1994 Drawdown: 0.00 % Date: 5/31/1994 Drawdown: 0.00 % Date: 4/30/1994 Drawdown: -1.09 % Date: 3/31/1994 Drawdown: -7.48 % Date: 2/28/1994 Drawdown: -6.54 % Date: 1/31/1994 Drawdown: -1.00 % Date: 12/31/1993 Drawdown: 0.00 % Date: 11/30/1993 Drawdown: 0.00 % Date: 10/31/1993 Drawdown: 0.00 % Date: 9/30/1993 Drawdown: -7.11 % Date: 8/31/1993 Drawdown: -15.01 % Date: 7/31/1993 Drawdown: -20.87 % Date: 6/30/1993 Drawdown: -21.73 % Date: 5/31/1993 Drawdown: -26.92 % Date: 4/30/1993 Drawdown: -25.27 % Date: 3/31/1993 Drawdown: -25.50 % Date: 2/28/1993 Drawdown: -26.38 % Date: 1/31/1993 Drawdown: -27.04 % Date: 12/31/1992 Drawdown: -19.11 % Date: 11/30/1992 Drawdown: -17.04 % Date: 10/31/1992 Drawdown: -21.44 % Date: 9/30/1992 Drawdown: -13.86 % Date: 8/31/1992 Drawdown: -2.55 % Date: 7/31/1992 Drawdown: -0.36 % Date: 6/30/1992 Drawdown: -9.91 % Date: 5/31/1992 Drawdown: -14.28 % Date: 4/30/1992 Drawdown: -13.59 % Date: 3/31/1992 Drawdown: -11.10 % Date: 2/29/1992 Drawdown: -9.01 % Date: 1/31/1992 Drawdown: -3.20 % Date: 12/31/1991 Drawdown: 0.00 % Date: 11/30/1991 Drawdown: -5.30 % Date: 10/31/1991 Drawdown: 0.00 % Date: 9/30/1991 Drawdown: 0.00 % Date: 8/31/1991 Drawdown: 0.00 % Date: 7/31/1991 Drawdown: -3.42 % Date: 6/30/1991 Drawdown: -4.66 % Date: 5/31/1991 Drawdown: -16.66 % Date: 4/30/1991 Drawdown: -8.91 % Date: 3/31/1991 Drawdown: -5.51 % Date: 2/28/1991 Drawdown: -0.75 % Date: 1/31/1991 Drawdown: -4.01 % Date: 12/31/1990 Drawdown: -4.30 % Date: 11/30/1990 Drawdown: 0.00 % Date: 10/31/1990 Drawdown: 0.00 % Date: 9/30/1990 Drawdown: 0.00 % Date: 8/31/1990 Drawdown: 0.00 % Date: 7/31/1990 Drawdown: 0.00 % Date: 6/30/1990 Drawdown: 0.00 % Date: 5/31/1990 Drawdown: -2.40 % Date: 4/30/1990 Drawdown: 0.00 % Date: 3/31/1990 Drawdown: 0.00 % Date: 2/28/1990 Drawdown: 0.00 % Date: 1/31/1990 Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Northfield Trading LP
Address: 3609 South Wadsworth Blvd Suite 250
City: Denver
State: CO
Zip: 80235-2110
Country: USA
Key People
Name:  Douglas Bry
Position:  Principal
Biography: 

Douglas Bry has an extensive history, dating from 1972, in analyzing and understanding complex databases through the use of computerized statistical approaches. In January 1987, Mr. Bry and Philip Spertus formed Technical Trading Strategies, Inc. ("TTS"), an Illinois corporation of which Mr. Bry is the President. In conjunction with Mr. Spertus and through TTS, Mr. Bry developed and marketed the "Volatility Breakout System", a trading methodology that was offered for sale to the public. TTS ceased offering to sell the Volatility Breakout System in March of 1990. TTS obtained registration as a CTA in June 1987 and withdrew its registration in October 1990. TTS never directed or guided the trading of customer accounts. In December 1987, Douglas Bry and Philip Spertus formed Northfield Trading Company ("NTC"), an Illinois corporation of which Mr. Bry is the President. NTC, which became registered as an FCM with the CFTC in April 1988, withdrew its registration in October 1990. NTC's primary business was toprovide brokerage services to customers by introducing their accounts to clearing firms on a commission basis. NTC also provided discretionary trading advice to customers, and licensed proprietary trading software to introducing brokers and CTAs. Mr. Bry, an attorney, graduated from Beloit College in 1974 with a B.A. in Philosophy and Sociology and obtained his J.D. from the University of Colorado in 1978. From September 1978 until June 1982, he was a trial attorney with the Defender Association of Philadelphia, and from June 1982 through January 1987, he was a Senior Trial Deputy with the Colorado State Public Defender. Mr. Bry began trading futures for his own account in 1985 and became registered with the CFTC as a CTA in 1986. This registration was subsequently withdrawn in July 2001. In January 2004, Mr. Bry completed his second term on the NFA’s Board of Directors in the Commodity Trading Advisor category. In February 1998, he was appointed to the NFA’s Executive Committee, on which he also served until January 2004. In September 1999, Mr. Bry completed his second two-year term on the Board of Directors of the Managed Funds Association (“MFA”). During the four years that he was on the MFA’s Board, he was Chairperson of the Emerging Trader Council, served on the Executive Committee from 1998-1999 and was Vice Chairman of the MFA during his last year of office.

Name:  Philip Spertus
Position:  Principal
Biography: 

Philip Spertus graduated from the Massachusetts Institute of Technology in 1956. From 1979 to 1992, Mr. Spertus served in various senior capacities, including the positions of Chairman and President, with Intercraft Industries, Inc., a multinational manufacturer of picture frames and related products. In 1992, Intercraft Industries was sold to Newell Corporation and Mr. Spertus assumed the position of Vice President with Newell until late 1993. Philip Spertus owned a special seat and was a registered Broker/Dealer and member of the Chicago Board Options Exchange from August 1984 through February 1986. He has traded futures for his own account since 1983.

Name:  Patrick F. Hart III
Position:  Principal
Biography: 

Patrick F. Hart III has been involved in the Alternative Investment industry for over twenty-three years having specialized in the design, implementation and management of structured Hedge Fund and Managed Futures products. In 2003, Mr. Hart founded and is Chief Executive Officer and Managing Partner of Three Palms, LLC, and its wholly-owned subsidiary, Palm Portfolio Management, LLC. Three Palms offers a platform of Alternative Investment products and services designed to diversify and enhance traditional portfolio mixes and support both private and institutional client participation in Alternative Investments. In addition, Mr. Hart is Chief Executive Officer and President of Hart International Holdings and its affiliated companies, Hart Financial Group, LLC, Bigelow & Hart Capital Management, LLC and Hart Administration Services, LLC. Mr. Hart was listed as a Principal and registered as an Associated Person of Hart Financial Group, LLC, a registered Introducing Broker and Commodity Pool Operator, on August 26, 1998 and has been a controlling principal of Hart Financial Group, LLC since its establishment in August, 1997. Prior to forming Hart Financial Group, LLC, Mr. Hart was co-founder and listed as a principal of Hart–Bornoft, Inc., now known as The Bornhoft Group Corporation, a registered Commodity Pool Operator and Commodity Trading Advisor, on February 1, 1984. He was also registered as an Associated Person of Hart-Bornhoft, Inc. on December 23, 1985. Both of those registrations were subsequently withdrawn on June 13, 1997. Mr. Hart is also Senior Managing Director of Bigelow & Hart Capital Management, LLC which was formed in 2003 and is a Registered Investment Advisor specializing in fixed income and municipal bond investment strategies. The firm currently manages and administers the Blue River Funds. Mr. Hart is also Managing Partner of Hart Administration Services, LLC, which provides administration, back office, accounting and reporting services to Alternative Investment managers and funds. Mr. Hart registered with the NFA as an Associated Person for CTP Fund Management, LLC, a registered Commodity Pool Operator, and Seven Trust Global Advisors, LLC, a registered Commodity Trading Advisor, on April 3, 2008. Moreover, Mr. Hart registered with the NFA as a Principal of CTP Fund Management, LLC and Seven Trust Global Advisors, LLC on January 17, 2008. Mr. Hart was listed as a principal of Strategic Asset Management LLC, a pending NFA member and Commodity Trading Advisor, on June 5, 2009. He is also pending as an Associated Person of Strategic Asset Management LLC as of June 5, 2009. Mr. Hart is a member of the Managed Funds Association and served nine years on the Introducing Broker Advisory Committee of the National Futures Association (“NFA”). Additionally, he has served periodically on the NFA Arbitration and Nominating Committees since 1988. Mr. Hart is a frequent guest speaker at international conferences and symposiums on Alternative Investment Strategies. In addition, Mr. Hart has written numerous articles 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. Mr. Hart received a Bachelor of Science Degree in Economics from Colorado State University in 1983 and is licensed with the NASD and the CFTC. He holds Series 3, 7 and 63 certifications.

Additional Information

The Program Performance information presented in this and other areas of the www.managedfutures.com website was prepared by Altegris Clearing Solutions, LLC, an affiliate within the Altegris Group of Companies, based upon information provided by each respective manager of commodity futures and foreign currency trading programs tracked by Altegris Clearing Solutions and its affiliates. The Program Performance information does not contain opinion or analysis of Altegris Clearing Solutions or any of its affiliates, and the completeness and accuracy of performance information reported to Altegris Clearing Solutions cannot in all cases be independently verified. See “Additional Information” at the end of this page for further details regarding the presentation of performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.