Monthly Performance (% change)
	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	Year
2010	5.83	4.21											10.28
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	$332.1515
Current Month Performance	4.21%

33.39%	30.61%	0.45
Annualized Compound Return	Annualized Standard Deviation	Correlation to Dow Jones Industrial Average

	BTR Fund	DOW Jones
Annualized Compound ROR	33.39%	8.68%
Annualized Std. Deviation	30.61%	15.35%
12 Month Return	225.81%	46.19%
Winning Months	72.00%	59.12%
Average Monthly Gain	6.70%	3.53%
Average Monthly Loss	-7.19%	-3.16%
Sharpe Ratio (5.0%)	0.94	0.30
Alpha	2.78%	-
Beta	0.86	-

Depth	Length	Recovery	Peak	Valley
56.55%	6	7	Jun-08	Dec-08
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	133.01%
Gross Short	25.72%
Net	107.29%
Long Holdings	65
Short Holdings	7
Concentration - Top 10 Holdings	62%

Sector Allocations Long Weightings Short Weightings Uranium 18.32% 0% Oil & Gas 103.31% 21.10% Fixed Income 0.97% 0% Other 10.41% 4.62%

*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 estimated 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. Although care is taken in arriving at estimates, estimates may vary from the final number posted for a month/year - investors should not rely on estimates for investing decisions. It is further 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.