Capital Trading Group

CTA Profile - Angle Capital Management, LLC
Program - AIP Program
Principal(s): Kelvin (Kelly) D. Angle 4.7 Exempt - Qualified Eligible Clients Only
Trading Strategy: Systematic Long-Term Trend Follower

Investment Restrictions: 4.7 Exempt - Qualified Eligible Clients Only

Trading Description:
The Advisor’s AIP Program consists of utilizing two separate investment programs, hereon referred to as ‘Sub-Programs’. The AIP Program is the aggregate net results of trading the Sub-Programs known as the Genesis Program, offered by the Commodity Trading Advisor known as Kelly Angle Inc., along with the Keck Program offered by the Commodity Trading Advisor known as Keck Capital Management LLC. At the beginning of each trading month, approximately 50% of the aggregate allocation will be equally divided between each Sub-Program. Management Fees and any Incentive Fees are based upon on net new profits of the combined performance of the Sub-Program results. The Advisor of the AIP Program, Angle Capital Management LLC serves as the Commodity Trading Advisor of the AIP Program, but will not earn any fees in serving as the Advisor. All fees charged by the Angle Capital Management LLC, will be equally shared and distributed to companies which own and operate the Sub-Programs, which are Kelly Angle Inc. (the Genesis Program) and Keck Capital Management LLC, (the Keck Program).

The Genesis Program has been trading since April 2000 and the Keck Program has been trading since December 2003. Mr. Angle, is the primary designer of the Genesis and Keck Programs. The AIP Program is a single allocation investment vehicle that gives the allocation source the opportunity to participate in both the Genesis and Keck Programs through a single allocation where potential non-correlation benefits may be obtained from trading the two programs at the same time.

The Advisor’s trading program would be classified as both systematic and long term trend following. A distinct difference between this program compared to other long term trading following programs is that at times the Advisor’s program will avoid taking positions in markets that are determined to be trading sideways or trading in a direction that is counter to the major trend as defined by the program’s criteria. The portfolio would be defined as broadly diversified among a variety of market complexes available for trading in the major futures exchanges through out the world.

Risk Strategy:
The entry strategy used in the Advisor’s Program attempts to enter a market in the direction of the major trend (defined mathematically by the Advisor) with the objective of accumulating time in a profitable price move. Holding time for profitable positions can last as long as a single calendar year.

The exit strategy used in the Advisor’s Program attempts to hold on to a position for as long as the price trend (as mathematically defined by the Advisor) enables a profitable result or a losing result that is within the risk parameters of the trading program. Typical holding time for a losing position is from a few days to a few weeks.

Trading Approach

Systematic - 100.00%
Discretionary - 0.00%
Trading Methodology
Trend Following: Long Term Counter-Trend Following
Markets Traded
Diversified
Sector
Global Markets
Contracts Traded
Futures

Annual Performance Since 2003

2003	0.00%
2004	0.00%
2005	0.00%
2006	0.00%
2007	0.00%
2008	0.00%
2009	0.00%

Recent Performance

Currency Denomination - US Dollars

2010	Monthly Return	YTD Return	Assets Under Mgt
07/31/10	0.43%	10.95%	11,777,447
06/30/10	5.63%	10.48%	11,595,000
05/31/10	6.84%	4.59%	10,809,722
04/30/10	-1.30%	-2.11%	9,964,556
03/31/10	0.95%	-0.82%	10,001,542
02/28/10	5.17%	-1.75%	9,853,526
01/31/10	-6.58%	-6.58%	9,357,886

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	06/30/10
Starting Date of Program	01/01/10
Accepting New Money?	Yes
Average Annual Rate of Return	18.78%
Peak to Valley Drawdown	-6.58 %
Average Margin as % of Equity	20.00%
Round Turns per Million	2,000
Minimum Sized Account	3,200,000
Currency Denomination	US Dollars
Management Fee	0.00%
Incentive Fee	0.00%
Notional Funding?	Yes
Member of NFA	Yes
Other Memberships	None

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.

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