Fund Profiles

The Investment Advisor is Sizemore Capital Management, LLC. The manager seeks to profit from the natural theta, or time decay, of traded options on the S&P 500 and Nasdaq 100 indexes or tracking ETFs. The manager additionally uses a proprietary market risk model to manage the potential for loss. The options positions will generally be held for an average of 15 days. In managing risk, the manager may also hedge by buying offsetting put or call options. Additionally, collateral may be invested in U.S. Treasury securities and other investment grade rated fixed income securities.

The portfolio additionally uses a proprietary market risk model to manage the risk of loss. The options positions will generally be held for no longer than 15 days. In managing risk, the manager may also hedge by buying offsetting put or call options or by trading various options spreads. Collateral may be invested in U.S. Treasury securities and other investment-grade-rated fixed-income securities.

Instrument selection: Investment strategy focused on S&P 500 and Nasdaq index options Statistical analysis: Market analysis across 700 equities to deliver repeatable alpha-driven returns with acceptable volatility and limited market correlation Money flows: The strategy leverages an analysis of institutional money flows to forecast the direction of a stock composite from the S&P 500 and Nasdaq indexes Independent verification: Monitoring of over 30,000 funds around the world to determine the appetite for Bonds, Equities, Money Markets or Mixed Assets on a periodic basis Liquidity: Emphasis on liquidity with an average holding period below 15 days.

Strong focus on risk management: Risk management is built into the investment process and underpins all other considerations.

Tax Treatment: Returns on options trades will generally be a blend of long-term and short-term capital gains. Interest income from invested collateral will generally be taxed as ordinary income.

Charles Lewis Sizemore, CFA is the founder and principal of Sizemore Capital Management LLC, a registered investment advisor.

Charles is a frequent guest on CNBC, Bloomberg TV and Fox Business News, has been quoted in Barron's Magazine, The Wall Street Journal, and The Washington Post and is a frequent contributor to Kiplinger's, GuruFocus, MarketWatch and InvestorPlace.com.

He holds a master's degree in Finance and Accounting from the London School of Economics in the United Kingdom and a Bachelor of Business Administration in Finance with an International Emphasis from Texas Christian University in Fort Worth, Texas, where he graduated Magna Cum Laude and as a Phi Beta Kappa scholar. Charles is a CFA Charterholder in good standing.

Mr. Sizemore holds the Series 3 license. Mario Randholm is a Portfolio Manager and the founder of Randholm & Co., an investment management company specializing in quantitative strategies, serving clients globally.

Mr. Randholm has over ten years of experience working as a proprietary trader and portfolio manager in the United States, Europe and South America. He has extensive experience in modelling financial derivatives and in building quantitative trading strategies with low correlations to traditional equity benchmarks.

Prior to founding Randholm & Co., Mr. Randholm worked with Nexus Capital in New York as an analyst and trader. While based in Madrid, he held the positions of Proprietary Trader and Strategic Corporate Analyst at Spanish multinational bank BBVA. Mr. Randholm interned at Merrill Lynch while completing his undergraduate studies. Mr. Randholm additionally serves as a Professor of Finance at the Universidad de Lima in Lima, Peru. He holds an MBA from the IE Business School, Madrid, Spain and a BBA in Management with Specialization in Finance from Adelphi University in New York.

Mr. Randholm holds the Series 3 license.