TACTICAL GROWTH

The Tactical Growth strategy primarily involves purchasing and selling Exchange-Traded Funds (“ETF's”) and writing covered and uncovered put and call options, coupled with risk management techniques, such as using cash as an asset class.

2nd Quarter 2010 - FACT Funds Tactical Growth

Tactical Growth - GIPS Verification Report

TACTICAL MODERATE

The Tactical Moderate strategy primarily involves purchasing and selling ETF’s coupled with risk management techniques utilized in the Tactical Growth composite.  This strategy does not include the use of options.

2nd Quarter 2010 - FACT Funds Tactical Moderate

Tactical Moderate - GIPS Verification Report