Summary

The SVAM Commodity Advantage Portfolio pursues a multi-strategy systematic approach to investing across a diverse selection of highly liquid commodity markets (including precious metals, industrial metals, energies, grains, foods, fibers and meats), offering the potential for attractive risk-adjusted returns, controlled downside volatility and distinct correlation benefits within a cash efficient (i.e., low margin) investment vehicle. The portfolio's trading methodology is premised upon the notion that, unlike the highly correlated nature of global stock and bond markets, the unique fundamentals of each individual commodity market - with respect to supply and demand imbalances, seasonal characteristics, weather-related patterns and government/trade policy - gives each a distinct "personality" and therefore warrants a trading approach that is specifically tailored to that commodity market.