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Capital Trading Group
CTA Profile - Valu-Trac Investment Mgt Ltd
Program - Strategic US$
Principal(s): Peter Millar & Peter Hart 4.14(a)(8) - Qualified Eligible Persons
Trading Strategy: Intrinsic Value / Globally Diversified

Investment Restrictions: 4.14(a)(8) - Qualified Eligible Persons
Trading Description:
Systematic global alternative investment strategy targeting absolute return. It is diversified over equity and bond markets, currencies and commodities. Its investment edge comes from a systematic application of its proprietary measurement of Intrinsic Value.

For income producing assets, like equities and bonds, Intrinsic Value is a long-term, globally consistent potential annual real rate of Income return, incorporating objective (rather than subjective) growth and inflation rates. Intrinsic Value for currencies and commodities is calculated with reference to monetary inflation.

The aim is to hold long positions where Intrinsic Value is high and likely to fall, and to hold short positions where Intrinsic Value is low and likely to rise.

Risk Strategy:
 Risk management takes place at both the individual asset level, based on exposure and liquidity, and is capped for each of the four asset classes
Trading Approach
Systematic - 100.00%
 Discretionary - 0.00%
Trading Methodology
Non Trend Following:
Fundamental
Markets Traded

Diversified
Sector
US Markets Offshore Markets Global Markets
Contracts Traded
Futures
Forex

Annual Performance Since 2003
2003
0.00%
2004
0.00%
2005
12.25%
2006
15.97%
2007
5.74%
2008
3.15%
2009
19.98%
Recent Performance
Currency Denomination - US Dollars 
2010 Monthly Return YTD Return Assets Under Mgt
08/31/10 5.63% 2.93% 186,785,827
07/31/10 -6.50% -2.56% 173,384,108
06/30/10 0.54% 4.22% 181,989,450
05/31/10 4.60% 3.66% 177,154,638
04/30/10 0.44% -0.90% 164,767,953
03/31/10 3.31% -1.34% 163,144,224
02/28/10 2.12% -4.50% 139,548,554
01/31/10 -6.48% -6.48% 133,053,808
2009 Monthly Return YTD Return Assets Under Mgt
12/31/09 -0.86% 19.98% 144,377,614
11/30/09 10.03% 21.02% 138,712,246
10/31/09 -1.37% 9.99% 112,931,340
09/30/09 8.19% 11.51% 95,879,817



VAMI Chart (Based on a $1,000 Initial Value)
 Monthly Percentage Returns Chart

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
Investment Details
 Disclosure Document Date
08/07/09  
 Starting Date of Program
10/01/02 
 Accepting New Money?
Yes  
 Average  Annual Rate of Return
12.00% 
 Peak to Valley Drawdown
-14.85 % 
Average  Margin as % of Equity
10.00% 
 Round Turns per Million
550 
 Minimum Sized Account
1,000,000 
 Currency Denomination
US Dollars 
 Management Fee
2.00% 
 Incentive Fee
20.00% 
 Notional Funding?
Yes  
 Member of NFA
Yes  
 Other Memberships
SEC Registered Investment Advisor 


Statistical Definitions
(1) From January 1990 or Starting Date of Program - The Annual Average Rate of Return represents the compounded rate of return for each year or portion thereof presented. It is computed by applying successively respective monthly rate of return for each month beginning with the first month of that period. This includes all monthly data from the inception of the program or from January 1990, whichever is less.
(2) From January 1990 or Starting Date of Program - The Worst Peak-to-Valley Drawdown is defined as the greatest cumulative percentage decline in net asset value due to losses sustained by the trading program during any period in which the initial net asset value is not equaled or exceeded by a subsequent asset value. "Monthly" indicates that the Worst-Peak-to-Valley Drawdown" is based on monthly Data.

 

Fee Range: This program is available as a fund - with a $1,000,000 minimum participation.


 

Risk Disclosure
THE RISK OF TRADING COMMODITY FUTURES, OPTIONS AND FOREIGN EXCHANGE ("FOREX") IS SUBSTANTIAL. THE HIGH DEGREE OF LEVERAGE ASSOCIATED WITH COMMODITY FUTURES, OPTIONS AND FOREX CAN WORK AGAINST YOU AS WELL AS FOR YOU. THIS HIGH DEGREE OF LEVERAGE CAN RESULT IN SUBSTANTIAL LOSSES, AS WELL AS GAINS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES, OPTIONS AND FOREX IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IF YOU ARE UNSURE YOU SHOULD SEEK PROFESSIONAL ADVICE. PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. IN SOME CASES MANAGED ACCOUNTS ARE CHARGED SUBSTANTIAL COMMISSIONS AND ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES, MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OF THEIR ASSETS. EACH COMMODITY TRADING ADVISOR ("CTA") IS REQUIRED BY THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") TO ISSUE TO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS. A HARD COPY OF THESE RISK DISCLOSURE DOCUMENTS ARE READILY AVAILABLE BY CLICKING ON EACH CTA'S "REQUEST DISCLOSURE DOCUMENT" BUTTON. THE FULL RISK OF COMMODITY FUTURES, OPTIONS AND FOREX TRADING CAN NOT BE ADDRESSED IN THIS RISK DISCLOSURE STATEMENT. NO CONSIDERATION TO INVEST SHOULD BE MADE WITHOUT THOROUGHLY READING THE DISCLOSURE DOCUMENT OF EACH OF THE CTAS IN WHICH YOU MAY HAVE AN INTEREST. REQUESTING A DISCLOSURE DOCUMENT PLACES YOU UNDER NO OBLIGATION AND EACH DOCUMENT IS PROVIDED AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY OF THE FOLLOWING PROGRAMS NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENTS. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE AN ACCOUNT MAY BE OPENED FOR YOU.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION ON INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT INCLUDING THE MERITS AND RISKS INVOLVED.

THE ABOVE PERFORMANCE NUMBERS HAVE BEEN SUPPLIED BY THE CTAS. CAPTIAL TRADING GROUP LP NO WAY GUARANTEES THE ACCURACY OF THESE NUMBERS AND HAS SUPPLIED THEM TO YOU FOR INFORMATIONAL PURPOSES ONLY. THIS DOES NOT CONSTITUTE A SOLICITATION TO BUY OR AN OFFER TO SELL. NO INVESTMENT SHOULD BE MADE WITHOUT FULLY REVIEWING THE ASSOCIATED RISK FACTORS, FEES AND CONFLICTS OF INTEREST AS OUTLINED IN EACH CTA'S RISK DISCLOSURE DOCUMENT. THERE MAY BE CTAS WHO HAVE CHOSEN NOT TO PARTICIPATE THAT MAY HAVE BETTER OR WORSE PERFORMANCE THAN THOSE CTAS IN OUR DATABASE.

PLEASE NOTE THAT THERE IS AN INHERENT RISK OF LOSS ASSOCIATED WITH TRADING FUTURES AND OPTIONS CONTRACTS. PLEASE CAREFULLY CONSIDER YOUR FINANCIAL CONDITION BEFORE INVESTING IN FUTURES AND OPTIONS CONTRACTS. FUTURES TRADING IS NOT SUITABLE FOR ALL INVESTORS