Performance

Monthly percentage composite performance since inception:
Volatility Arbitrage Program:

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2009 - - - - - - (10.93) 1.35 (4.05) (2.03) 8.71 6.59 (1.66)
2010 (1.37) 0.47 2.31 (1.75) (11.55) 8.32 (7.79) 7.82 (4.90) (3.39) (1.36) 3.17 (12.05)
2011 (7.83) (4.33) 2.65

VIX Portfolio Hedging (VXH) Program:

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2010 - - - - - - - - - - - 0.22 0.22
2011 (5.26) (7.66) (9.76) - - - - - - - - - -

Performance calculations are net of all fees and commissions.


Contact

Clinamen Financial Group LLC
P.O. Box 4668 #73662
New York, NY 10163-4668

contact at clinamengroup dot com
Bloomberg: CVIXHPR US, CLVOARB US
p (917) 715-7034
f (866) 371-5591