This is a discussion of the following:

1. Refresher of what managed futures/trend following is and how we have been invested over the past 9 months

2. Review of the recent change we have made in selling the LOTAX mutual fund, and purchasing LFMAX and AQMNX

3. Overview of all trend following managers we now have allocations with (Graham, Millburn, Revolution, AQR)

4. How we expect exposure to all these managers to benefit our clients