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A note about Acutal Performance of the advisor's account: Proprietary Trading of the Advisor - The Advisor and its principal trade may continue to trade, for their own proprietary accounts; such trading may be extensive. There is a conflict of interest between their interest in trading client accounts in order to maximize trading profits for clients and their interest in trading the proprietary accounts in order to maximize trading profits for such accounts. There is a potential conflict of interest which exists to provide preferential treatment to proprietary accounts rather than client accounts. There also exists a potential conflicts of interest that exists to trade ahead or against client accounts. As the advisor may from time to time make trades unrelated to the offered programs in the proprietary account, inspection of trades is not permitted. However, monthly statement balances of the proprietary accounts are readily available for viewing.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THE RISK OF LOSS IN TRADING COMMODITY FUTURES, OPTIONS, AND FOREIGN EXCHANGE ("FOREX") IS SUBSTANTIAL.

You should carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage that is often obtainable in commodity futures, options, and forex trading can work against you as well as for you. The use of leverage can lead to large losses as well as gains. In some cases, managed commodity accounts are subject to substantial charges for management and advisory fees. It may be necessary for those accounts that are subject to these charges to make substantial trading profits to avoid depletion or exhaustion of their assets. The disclosure document contains a complete description of the principal risk factors and each fee to be charged to your account by the commodity trading advisor ("CTA"). The regulations of the commodity futures trading commission ("cftc") require that prospective clients of a cta receive a disclosure document before they enter into an agreement whereby the cta will direct or guide the client's commodity interest trading and that fees and certain risk factors be highlighted. TMA will provide you a copy of the disclosure document at no cost. You should review the cta's disclosure document and study it carefully to determine whether such trading is appropriate for you in light of your financial condition. The cftc has not passed upon the merits of participating in the trading programs described on this website nor on the adequacy or accuracy of the cta's disclosure document. The information contained on this website has been prepared by TMA from sources deemed reliable, but TMA does not guarantee the adequacy, accuracy or completeness of any information. Neither TMA nor any of its respective affiliates, officers, directors, agents and employees make any warranty, express or implied, of any kind whatsoever, and none of these parties shall be liable for any losses, damages, or costs, relating to the adequacy, accuracy or completeness of any information on this report.

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