Summary

Swiss-Systematic Short Trends Program stopped in April 2010. -The Fund aims to achieve consistent long-term appreciation in the value of its portfolio in both falling and rising global financial markets by actively managing a diversified portfolio of futures, forward and spot contracts relating to developed foreign exchange, bond, equity and commodity markets on a global basis. The investment manager Swiss-Systematic Asset Management AG has developed a proprietary investment program based on which it will make its investment decisions. The program implements a trading approach entirely based on quantitative analysis of short term price behavior. The inputs to the program are 100% statistical and no fundamental analysis or price information is used.