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Alternative Market Briefing

Some systematic funds who benefitted from currency corrections and reduced risk

Tuesday, January 20, 2009

Dynamite CTA Fund returns -2.25% in December, +59.77% in 2008 ($ class) The Caymans-domiciled Dynamite CTA Fund USD class returned -2.25% for a 2008 total of +59.77%, and the EUR class returned -4.47% for a 2008 result of +59.91%.

This is compared to the Barclays CTA index returning +1.04% for a total of +13.61% in 2008 and the S&P 500 posting +0.78% for 2008 total of -38.50%.

The fund (USD class) gained 58.62% in 2005, 38.74% in 2006 and 46.10% in 2007.

Switzerland-based Dynamite's Jürg Bühler commented: "In December the major event in the markets was the FED cutting USD interest rates to almost 0%. This triggered strong moves in the markets, especially in currencies where the EUR gained more then 10% against the USD in just one week. This violent trend reversal posed some troubles for some of our trend-following as well as for some countertrend strategies. Presently we are invested in 10 different programs and are still adding to this as we are getting more capital inflows."

Laven`s Global Systematic Fund up 3.63% since May (USD), 18.94% since October (GBP) Since its launch in May 2008, the Laven Global Systematic Fund USD share class has returned 3.63% and the GBP share class, launched in October 2008 has returned 18.94%, delivering on the fund’s aim to achieve positive returns in difficult market conditions.

The performance was generated......................

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