Last quarter 2008 was very good for our Aggressive Structured Portfolios, finishing up 35.18% or
49.21% ahead of the FTSE All World Index’s (Ex. US) total return of - 14.03%. It was another quarter
of high daily volatility but, the portfolios continued to demonstrate its up-side volatility bias.
This is the pattern of behaviour we expect the portfolios to continue as the markets find their bottom
and begin to stabilize. Is what we have been seeing indicative of the bottom? We will have to see what
unfolds over the next months, but this up-side volatility bias should make our portfolios an excellent vehicle
for quickly building new profits. Instrumental allocation and combined investments strategies allowed us to
bring high returns over the last year. We will continue our strategies as long as on the markets will be
unstable and uncertain. Investment strategy of Aggressive Structured Portfolios are combined with mainly
Long/Short, arbitrage, macro and speculative short term strategies. We base our investments in equities,
commodities, currencies and all derivative instruments: index futures, forward contracts, options, swaps and
structured products.
Based on analysis of the portfolios’ real and simulated histories, recent performances are rare, but
not unexpected given how economic events have unfolded. In a recessionary/slowdown environment, the
portfolio tends to out-perform as stocks and indexes falling and the markets volatility is very high. We
presume to modify our investment strategies at the beginning of 2nd Q 2009 as some of emerging markets
will start its recovery paths and start to stabilize. Till 3rd Q 2009 we will modify over 64% of asset allocation"
structure as Comlife Investments Ltd. will finalise its hedge fund registration. Hedge fund will combine all
aggressive portfolios into one investment unit with similar continued aggressive strategy