ents will be paid an amount less than it would otherwise be paid if the actual value of such investments is higher than the value designated by the Multi-Swat Funds. Conversely, there is a risk that an investor who redeems all or part of its investment while the Multi-Strat Funds holds such investments will be

HUBUS133 Alpha Group Capital Options The Multi-Swat Funds may write (i.e., sell) and purchase put and call options. Sales of options where the Multi-Swat Funds does not own the underlying asset to which the option is referenced can involve theoretically unlimited risk. The seller (writer) of a call option