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Linn-LaSalle Asset Management

Linn-LaSalle Asset Management. Alternative Investment Portfolio Analysis. Low returns on cash Under performing stock market over the past 5 years. With highly appreciated real estate values—How long can double digit returns continue?. Today’s Investment Challenges. Alternative Assets.

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Linn-LaSalle Asset Management

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  1. Linn-LaSalle Asset Management Alternative Investment Portfolio Analysis

  2. Low returns on cash Under performing stock market over the past 5 years. With highly appreciated real estate values—How long can double digit returns continue? Today’s Investment Challenges

  3. Alternative Assets Metals Gold Silver Copper Nickel Zinc Energy Crude Oil Natural Gas Heating Oil Unleaded Gas Gas Oil WTI Crude Currencies Australian Dollar US Dollar British Pound New Zealand Dollar Canadian Dollar Singapore Dollar Euro Dollar South African Rand Japanese Yen Swiss Franc Short-Term Interest Rates Eurodollar (USA) Euribor (Europe) Short Sterling (UK) Schatz (Germany) Canadian 90 Day Bill (Canada) Euroswiss (Switzerland) Traditional Commodities Grains Livestock Food & Fiber Sugar Coffee Cotton Stock Indices DAX (Germany) DJ Euro Stoxx 50 (Europe) FTSE (UK) Hang Seng (Hong Kong) IBEX (Spain) MSCI (Taiwan) NASDAQ 100 (USA) Nikkei (Japan) S&P 500 (USA) Long-Term Interest Rates Treasury Bond/30 Yr. (USA) Treasury Note/10 Yr. (USA) Treasury Note/5 Yr. (USA) Long Gilt (UK) JGB (Japan) Bund (Germany) Bobl (Germany)

  4. Diversification Reduce Portfolio Risk Potential to enhance Portfolio Returns Ability to profit in any economic environment Opportunity to participate in Global investments What can alternative assets do for me?

  5. Corporate and Public Pension Plans Endowments Family Trusts High Net Worth Individuals Who uses these Alternative Assets?

  6. Analyze and study the performance of 2700 registered Advisors Created a basic criteria/philosophy for choosing Advisors: Average Annual Returns in the 10%-20% range Proven Track Records (Minimum of 5 years) Less then $50 Million under management Advisors that are low to non-correlated to each other What value does Linn LaSalle provide?

  7. Ongoing monitoring of the advisors Back up Advisors Daily Transparency and Liquidity (Ability to pull your money out within 24 hours) Funds are in held in a Segregated Account and are monitored by the Government and Exchanges on a daily basis Daily and monthly accounting and email reports Customized Portfolio analysis showing the past 5 years of a portfolio with and without our advisors. What value does Linn LaSalle provide?

  8. Performance of Advisors Source: http://www.barclaygrp.com

  9. Value of Asset Allocation

  10. Global Diversified Foreign Exchange Financial/Interest Rates Option trading Agricultural Alternative AssetProduct Sectors

  11. 5 non-correlated managers 5 different market sectors 5 unique methodologies Alternative Investments • Opportunity for: • Improved portfolio returns • Reduced portfolio volatility • Increase Diversification =

  12. Clarke Capital (Global Magnum) YTD Performance (July) : -2.54% Previous 5 year Avg: 19.25% **ALL PERFORMANCE IS NET OF FEES** • Systematic, global diversified strategy trades 19 domestic and international markets • Incorporates 11 intermediate trading models that supply entry and exit signals

  13. Clarke Capital(Global Magnum)

  14. Currency trading specialist Trades the Euro, the Yen and the U.S. Dollar Short term, systematic methodology Wallwood Consultants YTD Performance (June): 1.83% Previous 5 year Avg: 20.17% **ALL PERFORMANCE IS NET OF FEES**

  15. Wallwood Performance

  16. Option trading specialists in S&P 500 Credit spread writing strategy Combination of rules based and discretionary trading BC Capital YTD Performance (June): 4.58% Previous 5 Year Avg: 12.49% **ALL PERFORMANCE IS NET OF FEES**

  17. BC Capital Performance

  18. Cutler Investments YTD Performance: -10.94% (June) Previous 5 year Avg: 15.81% **ALL PERFORMANCE IS NET OF FEES** • Specializes in Financials • Trades interest rates & stock indices • Systematic, trend following methodology

  19. Cutler Investment Performance

  20. Specializes in agricultural futures, options, and spread trading Discretionary methodology based on fundamental analysis and historical market relationships Relatively low margin to equity/ low volatility advisor Commodity Capital YTD Performance: 1.55% Previous 5 year Avg: .98% **ALL PERFORMANCE IS NET OF FEES**

  21. Commodity Capital Performance

  22. The mathematical portfolio representation reflects results after commissions, fees, and other charges. Individual account performance may vary. Refer to the individual CTA Disclosure Document. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED AS FOLLOWS. NO REPRESENTATION IS BEING MADETHAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

  23. The mathematical portfolio representation reflects results after commissions, fees, and other charges. Individual account performance may vary. Refer to the individual CTA Disclosure Document. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED AS FOLLOWS. NO REPRESENTATION IS BEING MADETHAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

  24. The mathematical portfolio representation reflects results after commissions, fees, and other charges. Individual account performance may vary. Refer to the individual CTA Disclosure Document. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED AS FOLLOWS. NO REPRESENTATION IS BEING MADETHAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

  25. Portfolio optimization Volatility measurement & management Risk-reward ratios Strategic Portfolio Analysis Service

  26. $2 Million Portfolio without Strategic Investment Managers Time Frame: February 2001 thru December 2005 The mathematical portfolio representation reflects results after commissions, fees, and other charges. Individual account performance may vary. Refer to the individual CTA Disclosure Document. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED AS FOLLOWS. NO REPRESENTATION IS BEING MADETHAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

  27. $2 Million Portfolio with 13% Strategic Investment Exposure Time Frame: February 2001 thru December 2005 The mathematical portfolio representation reflects results after commissions, fees, and other charges. Individual account performance may vary. Refer to the individual CTA Disclosure Document. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED AS FOLLOWS. NO REPRESENTATION IS BEING MADETHAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

  28. *Dr. John Lintner of Harvard University, wrote that "the combined portfolios of stocks (or stocks and bonds) after including judicious investments ... in leveraged managed futures accounts show substantially less risk at every possible level of expected return than portfolios of stocks (or stocks and bonds) alone."

  29. How it works: Detailed analysis of your current portfolio Select the managers that would best fit Open an account Additional Benefits include: Pension – IRA suitable for most investors 60/40 Capital gains treatment for taxable accounts Low cost Getting Started

  30. “The Linn Group does not guarantee the accuracy of the data or information herein. Although the data is believed to be from reliable sources, The Linn Group makes no warranty as to the accuracy of this information or the performance of the Commodity Trading Advisor. Prospective investors must receive and review a disclosure document before investing in any of these programs. Futures and options trading involve substantial risk. In no event should the content of this information sheet be construed as an express or an implied promise, guarantee or implication by or from The Linn Group that you will profit or that losses can or will be limited in any manner whatsoever by following these programs. Past performance is not necessarily indicative of future results. Data provided is solely intended for information purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed.”

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