Summary

-Diversified 2.5X Program Mapleridge Capital is an international asset manager investing on behalf of institutional and individual clients. Mapleridge specializes in alternative investments, with the objective of giving clients access to rates of return available from a diversified portfolio of global foreign exchange, bond, equity and commodity futures. Randal Selkirk and Pierre Villeneuve, who have worked together for the past ten years in the asset management industry, are the Managing Directors of Mapleridge. Mapleridge emphasizes short-term trading strategies without any long or short bias in approximately 25 global markets. The average holding period for an entire portfolio is typically 2 to 3 trading days. Trading strategies are implemented virtually 24 hours per day in a disciplined and systematic manner. Of particular interest to many investors and fund managers is the correlation of our investment returns to other asset classes and the low daily volatility of our returns. The correlation of our returns to many benchmarks, including other alternative investment managers, has been low to negative. Our low volatility stems from our strict risk management approach which is fundamental to our investment process. Our risk management approach has enabled us to limit our average volatility to less than 125 basis points per day. Furthermore, the portfolio is broken down into market sectors with limits placed on the overall exposure in each sector.