Investment Thesis

Our Investment thesis is that clients who utilize active money management can
be rewarded with increased alpha and reduced volatility by implementing appropriate
use of international and alternative investment strategies. The continued
development of both international and alternative markets provides more return
opportunity per unit of risk than other capital allocation options. With
our emphasis on international and alternative investments, we seek to provide
our clients with:

• Increased portfolio diversification
• Lower correlation to traditional asset classes
• Lower overall portfolio volatility
• Access to best-in-class institutional money management talent

Investment Process

Tru/Alpha’s investment process integrates both top-down and bottom-up analyses
into a unique quantitative methodology that has been developed in partnership
with Raynal Quant Analytics. We add rigorous due diligence to assess the
portfolio performance and financial strength of active money managers. Our
comprehensive, objective process is focused on the investment guidelines
and objectives of our clients and includes:

• Formulating objectives and strategies
• Identifying most appropriate active managers
• Conducting ongoing due diligence
• Monitoring manager performance and discipline

Investment Sectors

• International Equities
• International Debt
• Emerging Market Equities
• Emerging Market Debt
• Hedge Funds
• Real Estate
• Private Equity
• Commodities
• Currencies
• Managed Futures