| Results as of: | Composite | Benchmark(3) |
Excess |
Mgmt Fee | Composite |
| 04/18/2008 | Gross % |
1-m CD Rate | Gross |
30% |
Net Return(2) |
| Annual: | |||||
| 2006 | 35.94 | 5.07 | 30.87 | 19.76 | |
| 2007 | 17.54 | 5.49 | 12.05 | -2.58 | |
| 2008 YTD | 81.21 | 1.20 | 80.01 | 49.04 | |
| Since Inception (1) | 57.77 | 5.05 | 52.72 | 26.78 | |
| Last 12 Monthly: | |||||
| 05/18/2007 | 11.69 | 0.41 | 11.28 | 3.38 | 8.31 |
| 06/15/2007 | -13.36 | 0.41 | -13.77 | - | -13.36 |
| 07/20/2007 | -3.31 | 0.51 | -3.82 | - | -3.31 |
| 08/17/2007 | 22.89 | 0.41 | 22.48 | 6.74 | 16.15 |
| 09/21/2007 | -0.69 | 0.53 | -1.22 | - | -0.69 |
| 10/19/2007 | 12.53 | 0.42 | 12.11 | 3.63 | 8.90 |
| 11/16/2007 | -19.08 | 0.38 | -19.46 | - | -19.08 |
| 12/21/2007 |  16.67 | 0.46 | 16.21 | 4.86 | 11.81 |
| 01/18/2008 | -16.17 | 0.39 | -16.56 | - | -16.17 |
| 02/15/2008 | 0.52 | 0.29 | 0.23 | 0.07 | 0.45 |
| 03/21/2008 | 72.66 | 0.30 | 72.36 | 21.71 | 50.95 |
| 04/18/2008 | 24.55 | 0.22 | 24.55 | 7.30 | 17.25 |