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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." www.dynamitef3.com.

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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