Monthly Performance (% change)
	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Year
2010	5.83	4.21	3.55	-0.58	-8.84	-7.98	0.35	-1.70					-6.06
2009	0.35	10.07	24.05	11.49	27.62	6.90	13.48	5.96	14.52	0.93	1.18	11.35	226.33
2008	-1.90	6.28	0.13	4.46	6.21	3.23	-22.00	-4.74	-16.03	-18.23	-9.01	-6.40	-48.05
2007	-0.15	4.60	3.26	5.41	5.22	-1.49	1.91	-8.03	1.94	6.85	-6.71	3.55	16.21
2006	13.14	5.42	5.53	4.46	4.21	-4.66	2.79	3.29	-1.23	3.00	8.40	-0.05	52.87

Current Month NAV	$282.9176
Current Month Performance	-1.70%

24.96%	29.90%	0.47
Annualized Compound Return	Annualized Standard Deviation	Correlation to Dow Jones Industrial Average

	BTR Fund	DOW Jones
Annualized Compound ROR	24.96%	8.42%
Annualized Std. Deviation	29.90%	15.42%
12 Month Return	22.33%	5.46%
Winning Months	67.86%	58.97%
Average Monthly Gain	6.45%	3.54%
Average Monthly Loss	-6.65%	-3.20%
Sharpe Ratio (5.0%)	0.73	0.29
Alpha	2.25%	-
Beta	0.85	-

Depth	Length	Recovery	Peak	Valley
56.55%	6	7	Jun-08	Dec-08
17.74%	5	0	Mar-10	Aug-10
8.03%	1	2	Jul-07	Aug-07
6.71%	1	3	Oct-07	Nov-07
4.66%	1	2	May-06	Jun-06

Growth of $1,000 (VAMI)

Exposures Current Month
Gross Long	104.34%
Gross Short	36.17%
Net	68.17%
Long Holdings	70
Short Holdings	10
Concentration - Top 10 Holdings*	52%

Sector Allocations Long Weightings Short Weightings Coal 1.41% 0% Uranium 11.51% 0% Oil & Gas 82.54% 12.85% Fixed Income 6.97% 0% Other 1.91% 23.32%

*Smaller initial investments may be approved by the BTR Directors. Past performance is no indication of future returns. The above is provided for informational purposes only and is qualified in its entirety by way of the relevant offering memorandum, which is only available to qualified investors. Valuations are computed and performance reported in US dollars. For a description of the risk factors and risk measurement instruments, as well as detailed descriptions of the strategies and objectives of the fund, please view the applicable offering memorandum. The returns presented in this information sheet are net of management fees, performance fees, non-returnable withholding taxes and all other applicable trading fees, but do not take into account early redemption fees. The calculation of the "Concentration - Top 10 Holdings" is the ratio of the top ten positions versus the greater of either total equity or total invested capital. It is advised that any prospective investor consult with a professional financial advisor before investing. There can be no assurance that a fund's investment objectives will be met. Past performance cannot predict future results and the funds' net asset value, net asset value per unit or share and yields will fluctuate. Source: PerTrac.