The risk of loss is present in all investments, including Managed Futures. Our goal is to manage this risk by implementing proper money management techniques. Futures and options trading involves substantial risk of loss, therefore only risk funds should be used in such trading. Futures and options trading may not be suitable for all investors and investors should carefully consider their financial condition in deciding whether to trade or not to trade. Certain presentations make reference to several indices but only CTAs submitting their performance to these indices are included in that particular index. The performance of the index itself and the actual rates of return for an individual program may significantly differ and be more volatile than that particular index. Indexes themselves are not investable. Studies conducted of Managed Futures as a whole may not be indicative of the performance of any individual CTA. While Managed Futures can help enhance returns and reduce risk, they can also do just the opposite and in fact result in further losses in a portfolio. Past performance is not necessarily indicative of future performance.