Commodity Trading Advisor, Managed Futures Trading, Forex CTAs, TCM

	Managed Money
	Trimmer Capital Management, LLC

What are Alternative Investments ?

Alternative Investments are distinguished from traditional investments by their regulatory structure, high minimum investment requirements, incentive-fee compensation and the diversity of financial instruments and strategies they may employ in pursuit of profit. Alternative Investments include both Managed Futures accounts and Hedge Funds.

What are the benefits of Alternative Investments ?

Many alternative investment strategies have the ability to generate positive returns independent of the movements of the equity markets.

The variety of alternative investment styles, many uncorrelated with each other, provide investors with a wide choice of strategies to meet their investment objectives.

The inclusion of alternative investments in a balanced portfolio may reduce overall risk and volatility and increase return.

Adding alternative investments to an investment portfolio provides diversification not otherwise available through
traditional investments.

What is a Fund-of-Funds?

Fund-of-Funds are collective investment vehicles typically organized as limited partnerships or limited liability companies. The assets in a Fund-of-Funds are allocated or exposed to a number of different managers, either through investment in other Funds or separate accounts, so the investors in a Fund-of-Funds enjoy instant diversification among numerous managers with a relatively small investment.

In adding alternative investments to your portfolio, you should keep in mind that an investment with a single manager is, all cases, a concentrated, not diversified, investment. Therefore, investing with a single manager-whether or not the manager is especially aggressive-is always an aggressive move. Although a single manager may direct your assets into many different positions (stocks, bonds, futures, etc.), the amount of money you have with a single manager is not diversified, because one individual controls all the positions.

What are the benefits of a Fund-of-Funds?

Fund-of-Funds managers may have a great deal of experience in selecting and evaluating alternative investments. They typically employ one or more analysts to interview and monitor the managers and have a thorough initial and ongoing due diligence process. Thus, Fund-of-Funds usually are better equipped to build and monitor an alternative investment portfolio than a do-it-yourself investor with other time commitments or less experience.

Fund-of-Funds enjoy advantages that frequently elude smaller investors. Like most large investors, Fund-of-Funds may be able to negotiate better fee arrangements than individual investors could obtain their own. They also provide access to managers that an individual investor could not access on his own, either because the manager is not accepting new investors or because the manager's minimum investment is too
high for individual investors.