Altegris Clearing Solutions Novus Investments, LLC Precious Commodities *QEP*
Monthly Performance (%)
Date Range: 12/06 - 02/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 2.00 4.01 6.09
2016 2.98 4.02 -0.34 2.56 -4.12 -0.40 -1.14 -2.51 -1.93 1.88 -1.12 -0.48 -0.92
2015 7.55 0.20 1.63 -2.70 -1.56 -1.95 1.30 2.89 0.02 -1.61 -1.42 -0.87 3.10
2014 -3.96 5.32 -1.63 -1.39 -2.34 0.23 -6.13 -3.31 -0.29 5.02 1.82 0.73 -6.38
2013 4.34 -1.44 0.59 -3.08 -4.44 -5.73 3.35 11.43 -7.68 -5.15 -2.66 -0.65 -11.92
2012 7.21 0.82 -3.60 -1.65 2.82 -5.82 -0.89 10.73 3.17 -3.05 1.37 -0.20 10.20
2011 -9.52 -3.13 2.25 12.29 -2.38 -5.33 11.98 9.61 5.08 -1.28 -2.55 -4.39 10.33
2010 -13.25 18.97 29.54 11.63 -8.63 7.23 -25.29 5.61 27.44 8.36 -0.94 5.04 65.78
2009 15.70 6.21 -9.57 0.72 58.20 -20.64 4.33 13.26 16.19 -4.27 47.18 -23.29 108.52
2008 14.21 18.10 -11.85 -5.45 -2.33 5.88 -8.53 -19.42 3.94 -8.89 9.47 24.49 10.59
2007 11.00 10.90 -6.61 0.55 6.65 -16.01 15.32 -16.37 15.92 11.49 -5.95 10.53 34.16
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

The Novus Precious Commodities Strategy seeks to achieve maximum growth of capital within defined risk limitations. The Strategy trades commodity futures (long and short) on a discretionary basis with an emphasis on precious metals. Our goal is to exploit the underlying trends and volatility with proper risk management tools such as limit orders, trailing stops, and occasional selective option strategies to enhance returns. We believe that the continued expansion of money supply (Austrian definition of inflation), and other inflation-fueling monetary and fiscal policies (using debt to bail out more debt), along with supply/demand imbalances will help these markets continue to develop tradable trends for years to come. The goal is to outperform commodity and managed futures index funds through the prudent use of leverage with proactive management of risk.

Performance Statistics
Date Range: 12/06 - 02/17
  Program SP500 TR Altegris 40
Total Return 457.22% 110.34% 33.42%
Annualized Return 18.41% 7.52% 2.85%
Annualized Std. Deviation 38.65% 15.07% 9.28%
Correlation 0.07 0.40
Sharpe Ratio (rf=2.5%) 0.41 0.33 0.04
Worst Month -25.29% -16.79% -5.20%
Date of Worst Month 07/2010 10/2008 06/2015
Worst Drawdown -39.84% -50.95% -15.74%
Date of Worst Drawdown 2/08 - 10/08 10/07 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 12/06 - 02/17
Year or YTD Program SP500 TR Altegris 40
2017 6.09 5.95 0.86
2016 -0.92 11.98 -3.13
2015 3.10 1.41 0.09
2014 -6.38 13.69 15.75
2013 -11.92 32.41 -2.45
2012 10.20 15.98 -4.75
2011 10.33 2.12 -3.23
2010 65.78 15.06 11.33
2009 108.52 26.45 -7.98
2008 10.59 -36.99 15.47
2007 34.16 5.50 7.18
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 12/06 - 02/17
Date: 2/28/2017
Perf: $1,290.55 Date: 1/31/2017
Perf: $1,263.02 Date: 12/31/2016
Perf: $1,279.52 Date: 11/30/2016
Perf: $1,269.87 Date: 10/31/2016
Perf: $1,284.00 Date: 9/30/2016
Perf: $1,318.00 Date: 8/31/2016
Perf: $1,335.22 Date: 7/31/2016
Perf: $1,372.13 Date: 6/30/2016
Perf: $1,358.28 Date: 5/31/2016
Perf: $1,302.91 Date: 4/30/2016
Perf: $1,326.11 Date: 3/31/2016
Perf: $1,360.26 Date: 2/29/2016
Perf: $1,400.45 Date: 1/31/2016
Perf: $1,366.82 Date: 12/31/2015
Perf: $1,320.86 Date: 11/30/2015
Perf: $1,351.95 Date: 10/31/2015
Perf: $1,307.37 Date: 9/30/2015
Perf: $1,330.52 Date: 8/31/2015
Perf: $1,302.26 Date: 7/31/2015
Perf: $1,325.19 Date: 6/30/2015
Perf: $1,275.32 Date: 5/31/2015
Perf: $1,345.28 Date: 4/30/2015
Perf: $1,355.04 Date: 3/31/2015
Perf: $1,409.44 Date: 2/28/2015
Perf: $1,378.97 Date: 1/31/2015
Perf: $1,381.17 Date: 12/31/2014
Perf: $1,319.68 Date: 11/30/2014
Perf: $1,296.85 Date: 10/31/2014
Perf: $1,224.02 Date: 9/30/2014
Perf: $1,206.29 Date: 8/31/2014
Perf: $1,188.58 Date: 7/31/2014
Perf: $1,140.34 Date: 6/30/2014
Perf: $1,149.54 Date: 5/31/2014
Perf: $1,139.74 Date: 4/30/2014
Perf: $1,111.29 Date: 3/31/2014
Perf: $1,102.91 Date: 2/28/2014
Perf: $1,119.48 Date: 1/31/2014
Perf: $1,110.37 Date: 12/31/2013
Perf: $1,140.13 Date: 11/30/2013
Perf: $1,141.73 Date: 10/31/2013
Perf: $1,121.43 Date: 9/30/2013
Perf: $1,096.32 Date: 8/31/2013
Perf: $1,102.94 Date: 7/31/2013
Perf: $1,124.53 Date: 6/30/2013
Perf: $1,134.40 Date: 5/31/2013
Perf: $1,179.09 Date: 4/30/2013
Perf: $1,232.07 Date: 3/31/2013
Perf: $1,201.08 Date: 2/28/2013
Perf: $1,184.03 Date: 1/31/2013
Perf: $1,190.94 Date: 12/31/2012
Perf: $1,168.73 Date: 11/30/2012
Perf: $1,163.03 Date: 10/31/2012
Perf: $1,159.79 Date: 9/30/2012
Perf: $1,203.35 Date: 8/31/2012
Perf: $1,223.53 Date: 7/31/2012
Perf: $1,240.40 Date: 6/30/2012
Perf: $1,191.67 Date: 5/31/2012
Perf: $1,238.22 Date: 4/30/2012
Perf: $1,215.13 Date: 3/31/2012
Perf: $1,207.89 Date: 2/29/2012
Perf: $1,235.94 Date: 1/31/2012
Perf: $1,230.90 Date: 12/31/2011
Perf: $1,226.97 Date: 11/30/2011
Perf: $1,215.30 Date: 10/31/2011
Perf: $1,211.67 Date: 9/30/2011
Perf: $1,261.63 Date: 8/31/2011
Perf: $1,262.39 Date: 7/31/2011
Perf: $1,264.92 Date: 6/30/2011
Perf: $1,221.08 Date: 5/31/2011
Perf: $1,253.68 Date: 4/30/2011
Perf: $1,301.17 Date: 3/31/2011
Perf: $1,252.33 Date: 2/28/2011
Perf: $1,271.79 Date: 1/31/2011
Perf: $1,250.53 Date: 12/31/2010
Perf: $1,267.90 Date: 11/30/2010
Perf: $1,215.74 Date: 10/31/2010
Perf: $1,260.36 Date: 9/30/2010
Perf: $1,213.28 Date: 8/31/2010
Perf: $1,191.60 Date: 7/31/2010
Perf: $1,144.22 Date: 6/30/2010
Perf: $1,159.18 Date: 5/31/2010
Perf: $1,154.79 Date: 4/30/2010
Perf: $1,183.43 Date: 3/31/2010
Perf: $1,165.48 Date: 2/28/2010
Perf: $1,120.98 Date: 1/31/2010
Perf: $1,110.54 Date: 12/31/2009
Perf: $1,138.90 Date: 11/30/2009
Perf: $1,186.35 Date: 10/31/2009
Perf: $1,140.39 Date: 9/30/2009
Perf: $1,170.35 Date: 8/31/2009
Perf: $1,143.15 Date: 7/31/2009
Perf: $1,139.39 Date: 6/30/2009
Perf: $1,140.64 Date: 5/31/2009
Perf: $1,171.81 Date: 4/30/2009
Perf: $1,155.86 Date: 3/31/2009
Perf: $1,194.94 Date: 2/28/2009
Perf: $1,228.98 Date: 1/31/2009
Perf: $1,229.59 Date: 12/31/2008
Perf: $1,237.64 Date: 11/30/2008
Perf: $1,206.63 Date: 10/31/2008
Perf: $1,163.91 Date: 9/30/2008
Perf: $1,106.91 Date: 8/31/2008
Perf: $1,104.59 Date: 7/31/2008
Perf: $1,134.89 Date: 6/30/2008
Perf: $1,189.49 Date: 5/31/2008
Perf: $1,158.55 Date: 4/30/2008
Perf: $1,135.17 Date: 3/31/2008
Perf: $1,148.37 Date: 2/29/2008
Perf: $1,153.45 Date: 1/31/2008
Perf: $1,091.35 Date: 12/31/2007
Perf: $1,071.84 Date: 11/30/2007
Perf: $1,074.31 Date: 10/31/2007
Perf: $1,081.34 Date: 9/30/2007
Perf: $1,036.66 Date: 8/31/2007
Perf: $990.41 Date: 7/31/2007
Perf: $1,028.78 Date: 6/30/2007
Perf: $1,061.59 Date: 5/31/2007
Perf: $1,031.77 Date: 4/30/2007
Perf: $996.21 Date: 3/31/2007
Perf: $956.05 Date: 2/28/2007
Perf: $978.96 Date: 1/31/2007
Perf: $1,017.10 Date: 12/31/2006
Perf: $1,000.00 Date: 2/28/2017
Perf: $2,074.35 Date: 1/31/2017
Perf: $1,995.15 Date: 12/31/2016
Perf: $1,957.94 Date: 11/30/2016
Perf: $1,919.93 Date: 10/31/2016
Perf: $1,851.43 Date: 9/30/2016
Perf: $1,885.75 Date: 8/31/2016
Perf: $1,885.37 Date: 7/31/2016
Perf: $1,882.73 Date: 6/30/2016
Perf: $1,815.73 Date: 5/31/2016
Perf: $1,811.03 Date: 4/30/2016
Perf: $1,779.00 Date: 3/31/2016
Perf: $1,772.09 Date: 2/29/2016
Perf: $1,659.57 Date: 1/31/2016
Perf: $1,661.73 Date: 12/31/2015
Perf: $1,748.46 Date: 11/30/2015
Perf: $1,776.53 Date: 10/31/2015
Perf: $1,771.21 Date: 9/30/2015
Perf: $1,633.36 Date: 8/31/2015
Perf: $1,674.72 Date: 7/31/2015
Perf: $1,782.19 Date: 6/30/2015
Perf: $1,745.53 Date: 5/31/2015
Perf: $1,780.07 Date: 4/30/2015
Perf: $1,757.40 Date: 3/31/2015
Perf: $1,740.68 Date: 2/28/2015
Perf: $1,768.63 Date: 1/31/2015
Perf: $1,672.46 Date: 12/31/2014
Perf: $1,724.19 Date: 11/30/2014
Perf: $1,728.51 Date: 10/31/2014
Perf: $1,683.23 Date: 9/30/2014
Perf: $1,643.14 Date: 8/31/2014
Perf: $1,666.47 Date: 7/31/2014
Perf: $1,602.37 Date: 6/30/2014
Perf: $1,624.80 Date: 5/31/2014
Perf: $1,591.84 Date: 4/30/2014
Perf: $1,555.30 Date: 3/31/2014
Perf: $1,543.87 Date: 2/28/2014
Perf: $1,531.01 Date: 1/31/2014
Perf: $1,464.10 Date: 12/31/2013
Perf: $1,516.57 Date: 11/30/2013
Perf: $1,479.15 Date: 10/31/2013
Perf: $1,435.37 Date: 9/30/2013
Perf: $1,372.25 Date: 8/31/2013
Perf: $1,330.47 Date: 7/31/2013
Perf: $1,370.21 Date: 6/30/2013
Perf: $1,303.84 Date: 5/31/2013
Perf: $1,321.55 Date: 4/30/2013
Perf: $1,291.33 Date: 3/31/2013
Perf: $1,266.88 Date: 2/28/2013
Perf: $1,221.09 Date: 1/31/2013
Perf: $1,204.71 Date: 12/31/2012
Perf: $1,145.38 Date: 11/30/2012
Perf: $1,135.05 Date: 10/31/2012
Perf: $1,128.50 Date: 9/30/2012
Perf: $1,149.77 Date: 8/31/2012
Perf: $1,120.86 Date: 7/31/2012
Perf: $1,096.19 Date: 6/30/2012
Perf: $1,081.16 Date: 5/31/2012
Perf: $1,038.38 Date: 4/30/2012
Perf: $1,104.78 Date: 3/31/2012
Perf: $1,111.78 Date: 2/29/2012
Perf: $1,076.37 Date: 1/31/2012
Perf: $1,031.80 Date: 12/31/2011
Perf: $987.56 Date: 11/30/2011
Perf: $977.58 Date: 10/31/2011
Perf: $979.74 Date: 9/30/2011
Perf: $883.20 Date: 8/31/2011
Perf: $949.99 Date: 7/31/2011
Perf: $1,004.54 Date: 6/30/2011
Perf: $1,025.35 Date: 5/31/2011
Perf: $1,042.76 Date: 4/30/2011
Perf: $1,054.68 Date: 3/31/2011
Perf: $1,024.36 Date: 2/28/2011
Perf: $1,023.95 Date: 1/31/2011
Perf: $989.99 Date: 12/31/2010
Perf: $967.08 Date: 11/30/2010
Perf: $906.52 Date: 10/31/2010
Perf: $906.43 Date: 9/30/2010
Perf: $873.16 Date: 8/31/2010
Perf: $801.65 Date: 7/31/2010
Perf: $839.52 Date: 6/30/2010
Perf: $784.52 Date: 5/31/2010
Perf: $827.82 Date: 4/30/2010
Perf: $899.70 Date: 3/31/2010
Perf: $885.71 Date: 2/28/2010
Perf: $835.34 Date: 1/31/2010
Perf: $810.22 Date: 12/31/2009
Perf: $840.48 Date: 11/30/2009
Perf: $824.56 Date: 10/31/2009
Perf: $777.89 Date: 9/30/2009
Perf: $792.63 Date: 8/31/2009
Perf: $764.13 Date: 7/31/2009
Perf: $737.51 Date: 6/30/2009
Perf: $685.67 Date: 5/31/2009
Perf: $684.30 Date: 4/30/2009
Perf: $648.07 Date: 3/31/2009
Perf: $591.47 Date: 2/28/2009
Perf: $543.83 Date: 1/31/2009
Perf: $608.65 Date: 12/31/2008
Perf: $664.69 Date: 11/30/2008
Perf: $657.71 Date: 10/31/2008
Perf: $708.59 Date: 9/30/2008
Perf: $851.57 Date: 8/31/2008
Perf: $934.87 Date: 7/31/2008
Perf: $921.50 Date: 6/30/2008
Perf: $929.31 Date: 5/31/2008
Perf: $1,014.86 Date: 4/30/2008
Perf: $1,001.84 Date: 3/31/2008
Perf: $955.31 Date: 2/29/2008
Perf: $959.44 Date: 1/31/2008
Perf: $991.67 Date: 12/31/2007
Perf: $1,054.97 Date: 11/30/2007
Perf: $1,062.30 Date: 10/31/2007
Perf: $1,108.64 Date: 9/30/2007
Perf: $1,091.29 Date: 8/31/2007
Perf: $1,051.94 Date: 7/31/2007
Perf: $1,036.40 Date: 6/30/2007
Perf: $1,069.55 Date: 5/31/2007
Perf: $1,087.61 Date: 4/30/2007
Perf: $1,050.93 Date: 3/31/2007
Perf: $1,006.35 Date: 2/28/2007
Perf: $995.20 Date: 1/31/2007
Perf: $1,015.10 Date: 12/31/2006
Perf: $1,000.00 Date: 2/28/2017
Perf: $5,572.18 Date: 1/31/2017
Perf: $5,357.35 Date: 12/31/2016
Perf: $5,252.31 Date: 11/30/2016
Perf: $5,277.64 Date: 10/31/2016
Perf: $5,337.42 Date: 9/30/2016
Perf: $5,238.93 Date: 8/31/2016
Perf: $5,342.03 Date: 7/31/2016
Perf: $5,479.57 Date: 6/30/2016
Perf: $5,542.75 Date: 5/31/2016
Perf: $5,565.01 Date: 4/30/2016
Perf: $5,804.14 Date: 3/31/2016
Perf: $5,659.27 Date: 2/29/2016
Perf: $5,678.57 Date: 1/31/2016
Perf: $5,459.12 Date: 12/31/2015
Perf: $5,301.14 Date: 11/30/2015
Perf: $5,347.67 Date: 10/31/2015
Perf: $5,424.70 Date: 9/30/2015
Perf: $5,513.47 Date: 8/31/2015
Perf: $5,512.36 Date: 7/31/2015
Perf: $5,357.53 Date: 6/30/2015
Perf: $5,288.78 Date: 5/31/2015
Perf: $5,393.96 Date: 4/30/2015
Perf: $5,479.44 Date: 3/31/2015
Perf: $5,631.49 Date: 2/28/2015
Perf: $5,541.17 Date: 1/31/2015
Perf: $5,530.11 Date: 12/31/2014
Perf: $5,141.89 Date: 11/30/2014
Perf: $5,104.63 Date: 10/31/2014
Perf: $5,013.39 Date: 9/30/2014
Perf: $4,773.74 Date: 8/31/2014
Perf: $4,787.63 Date: 7/31/2014
Perf: $4,951.52 Date: 6/30/2014
Perf: $5,274.87 Date: 5/31/2014
Perf: $5,262.77 Date: 4/30/2014
Perf: $5,388.87 Date: 3/31/2014
Perf: $5,464.83 Date: 2/28/2014
Perf: $5,555.38 Date: 1/31/2014
Perf: $5,274.77 Date: 12/31/2013
Perf: $5,492.26 Date: 11/30/2013
Perf: $5,528.19 Date: 10/31/2013
Perf: $5,679.26 Date: 9/30/2013
Perf: $5,987.62 Date: 8/31/2013
Perf: $6,485.73 Date: 7/31/2013
Perf: $5,820.45 Date: 6/30/2013
Perf: $5,631.78 Date: 5/31/2013
Perf: $5,974.10 Date: 4/30/2013
Perf: $6,251.67 Date: 3/31/2013
Perf: $6,450.35 Date: 2/28/2013
Perf: $6,412.51 Date: 1/31/2013
Perf: $6,506.20 Date: 12/31/2012
Perf: $6,235.58 Date: 11/30/2012
Perf: $6,248.07 Date: 10/31/2012
Perf: $6,163.63 Date: 9/30/2012
Perf: $6,357.54 Date: 8/31/2012
Perf: $6,162.19 Date: 7/31/2012
Perf: $5,565.06 Date: 6/30/2012
Perf: $5,615.04 Date: 5/31/2012
Perf: $5,962.03 Date: 4/30/2012
Perf: $5,798.51 Date: 3/31/2012
Perf: $5,895.79 Date: 2/29/2012
Perf: $6,115.96 Date: 1/31/2012
Perf: $6,066.22 Date: 12/31/2011
Perf: $5,658.26 Date: 11/30/2011
Perf: $5,918.06 Date: 10/31/2011
Perf: $6,072.92 Date: 9/30/2011
Perf: $6,151.66 Date: 8/31/2011
Perf: $5,854.27 Date: 7/31/2011
Perf: $5,341.00 Date: 6/30/2011
Perf: $4,769.60 Date: 5/31/2011
Perf: $5,038.13 Date: 4/30/2011
Perf: $5,160.96 Date: 3/31/2011
Perf: $4,596.10 Date: 2/28/2011
Perf: $4,494.97 Date: 1/31/2011
Perf: $4,640.20 Date: 12/31/2010
Perf: $5,128.43 Date: 11/30/2010
Perf: $4,882.36 Date: 10/31/2010
Perf: $4,928.69 Date: 9/30/2010
Perf: $4,548.44 Date: 8/31/2010
Perf: $3,569.08 Date: 7/31/2010
Perf: $3,379.49 Date: 6/30/2010
Perf: $4,523.48 Date: 5/31/2010
Perf: $4,218.49 Date: 4/30/2010
Perf: $4,616.93 Date: 3/31/2010
Perf: $4,135.92 Date: 2/28/2010
Perf: $3,192.77 Date: 1/31/2010
Perf: $2,683.68 Date: 12/31/2009
Perf: $3,093.58 Date: 11/30/2009
Perf: $4,032.82 Date: 10/31/2009
Perf: $2,740.06 Date: 9/30/2009
Perf: $2,862.28 Date: 8/31/2009
Perf: $2,463.45 Date: 7/31/2009
Perf: $2,175.04 Date: 6/30/2009
Perf: $2,084.77 Date: 5/31/2009
Perf: $2,626.98 Date: 4/30/2009
Perf: $1,660.54 Date: 3/31/2009
Perf: $1,648.67 Date: 2/28/2009
Perf: $1,823.15 Date: 1/31/2009
Perf: $1,716.55 Date: 12/31/2008
Perf: $1,483.62 Date: 11/30/2008
Perf: $1,191.76 Date: 10/31/2008
Perf: $1,088.66 Date: 9/30/2008
Perf: $1,194.89 Date: 8/31/2008
Perf: $1,149.59 Date: 7/31/2008
Perf: $1,426.65 Date: 6/30/2008
Perf: $1,559.69 Date: 5/31/2008
Perf: $1,473.07 Date: 4/30/2008
Perf: $1,508.22 Date: 3/31/2008
Perf: $1,595.15 Date: 2/29/2008
Perf: $1,809.59 Date: 1/31/2008
Perf: $1,532.25 Date: 12/31/2007
Perf: $1,341.61 Date: 11/30/2007
Perf: $1,213.79 Date: 10/31/2007
Perf: $1,290.58 Date: 9/30/2007
Perf: $1,157.58 Date: 8/31/2007
Perf: $998.60 Date: 7/31/2007
Perf: $1,194.07 Date: 6/30/2007
Perf: $1,035.44 Date: 5/31/2007
Perf: $1,232.81 Date: 4/30/2007
Perf: $1,155.94 Date: 3/31/2007
Perf: $1,149.62 Date: 2/28/2007
Perf: $1,230.99 Date: 1/31/2007
Perf: $1,110.00 Date: 12/31/2006
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 12/06 - 02/17
Date: 2/28/2017
Return: 4.01 % Date: 1/31/2017
Return: 2.00 % Date: 12/31/2016
Return: -0.48 % Date: 11/30/2016
Return: -1.12 % Date: 10/31/2016
Return: 1.88 % Date: 9/30/2016
Return: -1.93 % Date: 8/31/2016
Return: -2.51 % Date: 7/31/2016
Return: -1.14 % Date: 6/30/2016
Return: -0.40 % Date: 5/31/2016
Return: -4.12 % Date: 4/30/2016
Return: 2.56 % Date: 3/31/2016
Return: -0.34 % Date: 2/29/2016
Return: 4.02 % Date: 1/31/2016
Return: 2.98 % Date: 12/31/2015
Return: -0.87 % Date: 11/30/2015
Return: -1.42 % Date: 10/31/2015
Return: -1.61 % Date: 9/30/2015
Return: 0.02 % Date: 8/31/2015
Return: 2.89 % Date: 7/31/2015
Return: 1.30 % Date: 6/30/2015
Return: -1.95 % Date: 5/31/2015
Return: -1.56 % Date: 4/30/2015
Return: -2.70 % Date: 3/31/2015
Return: 1.63 % Date: 2/28/2015
Return: 0.20 % Date: 1/31/2015
Return: 7.55 % Date: 12/31/2014
Return: 0.73 % Date: 11/30/2014
Return: 1.82 % Date: 10/31/2014
Return: 5.02 % Date: 9/30/2014
Return: -0.29 % Date: 8/31/2014
Return: -3.31 % Date: 7/31/2014
Return: -6.13 % Date: 6/30/2014
Return: 0.23 % Date: 5/31/2014
Return: -2.34 % Date: 4/30/2014
Return: -1.39 % Date: 3/31/2014
Return: -1.63 % Date: 2/28/2014
Return: 5.32 % Date: 1/31/2014
Return: -3.96 % Date: 12/31/2013
Return: -0.65 % Date: 11/30/2013
Return: -2.66 % Date: 10/31/2013
Return: -5.15 % Date: 9/30/2013
Return: -7.68 % Date: 8/31/2013
Return: 11.43 % Date: 7/31/2013
Return: 3.35 % Date: 6/30/2013
Return: -5.73 % Date: 5/31/2013
Return: -4.44 % Date: 4/30/2013
Return: -3.08 % Date: 3/31/2013
Return: 0.59 % Date: 2/28/2013
Return: -1.44 % Date: 1/31/2013
Return: 4.34 % Date: 12/31/2012
Return: -0.20 % Date: 11/30/2012
Return: 1.37 % Date: 10/31/2012
Return: -3.05 % Date: 9/30/2012
Return: 3.17 % Date: 8/31/2012
Return: 10.73 % Date: 7/31/2012
Return: -0.89 % Date: 6/30/2012
Return: -5.82 % Date: 5/31/2012
Return: 2.82 % Date: 4/30/2012
Return: -1.65 % Date: 3/31/2012
Return: -3.60 % Date: 2/29/2012
Return: 0.82 % Date: 1/31/2012
Return: 7.21 % Date: 12/31/2011
Return: -4.39 % Date: 11/30/2011
Return: -2.55 % Date: 10/31/2011
Return: -1.28 % Date: 9/30/2011
Return: 5.08 % Date: 8/31/2011
Return: 9.61 % Date: 7/31/2011
Return: 11.98 % Date: 6/30/2011
Return: -5.33 % Date: 5/31/2011
Return: -2.38 % Date: 4/30/2011
Return: 12.29 % Date: 3/31/2011
Return: 2.25 % Date: 2/28/2011
Return: -3.13 % Date: 1/31/2011
Return: -9.52 % Date: 12/31/2010
Return: 5.04 % Date: 11/30/2010
Return: -0.94 % Date: 10/31/2010
Return: 8.36 % Date: 9/30/2010
Return: 27.44 % Date: 8/31/2010
Return: 5.61 % Date: 7/31/2010
Return: -25.29 % Date: 6/30/2010
Return: 7.23 % Date: 5/31/2010
Return: -8.63 % Date: 4/30/2010
Return: 11.63 % Date: 3/31/2010
Return: 29.54 % Date: 2/28/2010
Return: 18.97 % Date: 1/31/2010
Return: -13.25 % Date: 12/31/2009
Return: -23.29 % Date: 11/30/2009
Return: 47.18 % Date: 10/31/2009
Return: -4.27 % Date: 9/30/2009
Return: 16.19 % Date: 8/31/2009
Return: 13.26 % Date: 7/31/2009
Return: 4.33 % Date: 6/30/2009
Return: -20.64 % Date: 5/31/2009
Return: 58.20 % Date: 4/30/2009
Return: 0.72 % Date: 3/31/2009
Return: -9.57 % Date: 2/28/2009
Return: 6.21 % Date: 1/31/2009
Return: 15.70 % Date: 12/31/2008
Return: 24.49 % Date: 11/30/2008
Return: 9.47 % Date: 10/31/2008
Return: -8.89 % Date: 9/30/2008
Return: 3.94 % Date: 8/31/2008
Return: -19.42 % Date: 7/31/2008
Return: -8.53 % Date: 6/30/2008
Return: 5.88 % Date: 5/31/2008
Return: -2.33 % Date: 4/30/2008
Return: -5.45 % Date: 3/31/2008
Return: -11.85 % Date: 2/29/2008
Return: 18.10 % Date: 1/31/2008
Return: 14.21 % Date: 12/31/2007
Return: 10.53 % Date: 11/30/2007
Return: -5.95 % Date: 10/31/2007
Return: 11.49 % Date: 9/30/2007
Return: 15.92 % Date: 8/31/2007
Return: -16.37 % Date: 7/31/2007
Return: 15.32 % Date: 6/30/2007
Return: -16.01 % Date: 5/31/2007
Return: 6.65 % Date: 4/30/2007
Return: 0.55 % Date: 3/31/2007
Return: -6.61 % Date: 2/28/2007
Return: 10.90 % Date: 1/31/2007
Return: 11.00 % Date: 12/31/2006
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 12/06 - 02/17
Return: -8.00 %
Count: 1 Return: 3.00 %
Count: 6 Return: 10.00 %
Count: 1 Return: 2.00 %
Count: 5 Return: -3.00 %
Count: 8 Return: 5.00 %
Count: 4 Return: -1.00 %
Count: 10 Return: 8.00 %
Count: 2 Return: 27.00 %
Count: 1 Return: -25.00 %
Count: 1 Return: 12.00 %
Count: 3 Return: 30.00 %
Count: 1 Return: 19.00 %
Count: 1 Return: -13.00 %
Count: 1 Return: -23.00 %
Count: 1 Return: 47.00 %
Count: 1 Return: -4.00 %
Count: 6 Return: 13.00 %
Count: 1 Return: -21.00 %
Count: 1 Return: 58.00 %
Count: 1 Return: -10.00 %
Count: 2 Return: 24.00 %
Count: 1 Return: 9.00 %
Count: 1 Return: 4.00 %
Count: 5 Return: -19.00 %
Count: 1 Return: -9.00 %
Count: 3 Return: 6.00 %
Count: 3 Return: -2.00 %
Count: 9 Return: -5.00 %
Count: 3 Return: -12.00 %
Count: 1 Return: 18.00 %
Count: 1 Return: 14.00 %
Count: 1 Return: -6.00 %
Count: 4 Return: 16.00 %
Count: 3 Return: 15.00 %
Count: 1 Return: -16.00 %
Count: 2 Return: 7.00 %
Count: 3 Return: 1.00 %
Count: 7 Return: -7.00 %
Count: 1 Return: 11.00 %
Count: 6 Return: 0.00 %
Count: 9
Note: All performance data is since program inception.

Underwater Curve
Date Range: 12/06 - 02/17
Date: 2/28/2017
Drawdown: -14.36 % Date: 1/31/2017
Drawdown: -17.66 % Date: 12/31/2016
Drawdown: -19.27 % Date: 11/30/2016
Drawdown: -18.88 % Date: 10/31/2016
Drawdown: -17.96 % Date: 9/30/2016
Drawdown: -19.48 % Date: 8/31/2016
Drawdown: -17.89 % Date: 7/31/2016
Drawdown: -15.78 % Date: 6/30/2016
Drawdown: -14.81 % Date: 5/31/2016
Drawdown: -14.47 % Date: 4/30/2016
Drawdown: -10.79 % Date: 3/31/2016
Drawdown: -13.02 % Date: 2/29/2016
Drawdown: -12.72 % Date: 1/31/2016
Drawdown: -16.09 % Date: 12/31/2015
Drawdown: -18.52 % Date: 11/30/2015
Drawdown: -17.81 % Date: 10/31/2015
Drawdown: -16.62 % Date: 9/30/2015
Drawdown: -15.26 % Date: 8/31/2015
Drawdown: -15.28 % Date: 7/31/2015
Drawdown: -17.66 % Date: 6/30/2015
Drawdown: -18.71 % Date: 5/31/2015
Drawdown: -17.10 % Date: 4/30/2015
Drawdown: -15.78 % Date: 3/31/2015
Drawdown: -13.44 % Date: 2/28/2015
Drawdown: -14.83 % Date: 1/31/2015
Drawdown: -15.00 % Date: 12/31/2014
Drawdown: -20.97 % Date: 11/30/2014
Drawdown: -21.54 % Date: 10/31/2014
Drawdown: -22.94 % Date: 9/30/2014
Drawdown: -26.63 % Date: 8/31/2014
Drawdown: -26.41 % Date: 7/31/2014
Drawdown: -23.90 % Date: 6/30/2014
Drawdown: -18.93 % Date: 5/31/2014
Drawdown: -19.11 % Date: 4/30/2014
Drawdown: -17.17 % Date: 3/31/2014
Drawdown: -16.01 % Date: 2/28/2014
Drawdown: -14.61 % Date: 1/31/2014
Drawdown: -18.93 % Date: 12/31/2013
Drawdown: -15.58 % Date: 11/30/2013
Drawdown: -15.03 % Date: 10/31/2013
Drawdown: -12.71 % Date: 9/30/2013
Drawdown: -7.97 % Date: 8/31/2013
Drawdown: -0.31 % Date: 7/31/2013
Drawdown: -10.54 % Date: 6/30/2013
Drawdown: -13.44 % Date: 5/31/2013
Drawdown: -8.18 % Date: 4/30/2013
Drawdown: -3.91 % Date: 3/31/2013
Drawdown: -0.86 % Date: 2/28/2013
Drawdown: -1.44 % Date: 1/31/2013
Drawdown: 0.00 % Date: 12/31/2012
Drawdown: -1.92 % Date: 11/30/2012
Drawdown: -1.72 % Date: 10/31/2012
Drawdown: -3.05 % Date: 9/30/2012
Drawdown: 0.00 % Date: 8/31/2012
Drawdown: 0.00 % Date: 7/31/2012
Drawdown: -9.54 % Date: 6/30/2012
Drawdown: -8.72 % Date: 5/31/2012
Drawdown: -3.08 % Date: 4/30/2012
Drawdown: -5.74 % Date: 3/31/2012
Drawdown: -4.16 % Date: 2/29/2012
Drawdown: -0.58 % Date: 1/31/2012
Drawdown: -1.39 % Date: 12/31/2011
Drawdown: -8.02 % Date: 11/30/2011
Drawdown: -3.80 % Date: 10/31/2011
Drawdown: -1.28 % Date: 9/30/2011
Drawdown: 0.00 % Date: 8/31/2011
Drawdown: 0.00 % Date: 7/31/2011
Drawdown: 0.00 % Date: 6/30/2011
Drawdown: -7.58 % Date: 5/31/2011
Drawdown: -2.38 % Date: 4/30/2011
Drawdown: 0.00 % Date: 3/31/2011
Drawdown: -10.38 % Date: 2/28/2011
Drawdown: -12.35 % Date: 1/31/2011
Drawdown: -9.52 % Date: 12/31/2010
Drawdown: 0.00 % Date: 11/30/2010
Drawdown: -0.94 % Date: 10/31/2010
Drawdown: 0.00 % Date: 9/30/2010
Drawdown: -1.48 % Date: 8/31/2010
Drawdown: -22.70 % Date: 7/31/2010
Drawdown: -26.80 % Date: 6/30/2010
Drawdown: -2.02 % Date: 5/31/2010
Drawdown: -8.63 % Date: 4/30/2010
Drawdown: 0.00 % Date: 3/31/2010
Drawdown: 0.00 % Date: 2/28/2010
Drawdown: -20.83 % Date: 1/31/2010
Drawdown: -33.45 % Date: 12/31/2009
Drawdown: -23.29 % Date: 11/30/2009
Drawdown: 0.00 % Date: 10/31/2009
Drawdown: -4.27 % Date: 9/30/2009
Drawdown: 0.00 % Date: 8/31/2009
Drawdown: -6.22 % Date: 7/31/2009
Drawdown: -17.20 % Date: 6/30/2009
Drawdown: -20.64 % Date: 5/31/2009
Drawdown: 0.00 % Date: 4/30/2009
Drawdown: -8.92 % Date: 3/31/2009
Drawdown: -9.57 % Date: 2/28/2009
Drawdown: 0.00 % Date: 1/31/2009
Drawdown: -5.14 % Date: 12/31/2008
Drawdown: -18.01 % Date: 11/30/2008
Drawdown: -34.14 % Date: 10/31/2008
Drawdown: -39.84 % Date: 9/30/2008
Drawdown: -33.97 % Date: 8/31/2008
Drawdown: -36.47 % Date: 7/31/2008
Drawdown: -21.16 % Date: 6/30/2008
Drawdown: -13.81 % Date: 5/31/2008
Drawdown: -18.60 % Date: 4/30/2008
Drawdown: -16.65 % Date: 3/31/2008
Drawdown: -11.85 % Date: 2/29/2008
Drawdown: 0.00 % Date: 1/31/2008
Drawdown: 0.00 % Date: 12/31/2007
Drawdown: 0.00 % Date: 11/30/2007
Drawdown: -5.95 % Date: 10/31/2007
Drawdown: 0.00 % Date: 9/30/2007
Drawdown: -6.10 % Date: 8/31/2007
Drawdown: -19.00 % Date: 7/31/2007
Drawdown: -3.14 % Date: 6/30/2007
Drawdown: -16.01 % Date: 5/31/2007
Drawdown: 0.00 % Date: 4/30/2007
Drawdown: -6.10 % Date: 3/31/2007
Drawdown: -6.61 % Date: 2/28/2007
Drawdown: 0.00 % Date: 1/31/2007
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Novus Investments, LLC
Address: 2603 Camino Ramon Ste 200
City: San Ramon
State: CA
Zip: 94583
Country: United States
Key People

Employee information is not available.
Additional Information

The Program Performance information presented in this and other areas of the www.managedfutures.com website was prepared by Altegris Clearing Solutions, LLC, an affiliate within the Altegris Group of Companies, based upon information provided by each respective manager of commodity futures and foreign currency trading programs tracked by Altegris Clearing Solutions and its affiliates. The Program Performance information does not contain opinion or analysis of Altegris Clearing Solutions or any of its affiliates, and the completeness and accuracy of performance information reported to Altegris Clearing Solutions cannot in all cases be independently verified. See “Additional Information” at the end of this page for further details regarding the presentation of performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.