General Disclaimer

BACKTESTING HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE LIMITATION OF HYPOTHETICAL PERFORMANCE RESULTS IS THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK. NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS. WE HAVE NOT TRADED THIS STRATEGY FOR CUSTOMERS. BECAUSE THERE ARE NO ACTUAL TRADING RESULTS TO COMPARE TO THE HYPOTHETICAL RESULTS, CUSTOMERS SHOULD BE WARY OF PLACING UNDUE RELIANCE ON THESE HYPOTHETICAL PERFORMANCE RESULTS. THE ADVISOR, DURING THE PERIOD IN QUESTION, WAS NOT MANAGING MONEY ACCORDING TO THE STRATEGY DEPICTED. THE RESULTS DO NOT REPRESENT THE RESULTS OF ACTUAL TRADING USING CLIENTS ASSETS, BUT WERE ACHIEVED BY THE MEANS OF A BACKTEST. 

ACTIVE ALTS, INC. (“ACTIVE ALTS”) IS AN INVESTMENT ADVISER REGISTERED WITH THE STATE OF CONNECTICUT. ACTIVE ALTS MANAGES THE ACTIVE ALTS SENTIMENTRADER L/S STRATEGY AND SENTIMENTRADER SERVES AS THE RESEARCH / INDEX PROVIDER FOR THE STRATEGY. REGISTRATION WITH THE STATE OF CONNECTICUT DOES NOT IMPLY A CERTAIN LEVEL OF SKILL OR TRAINING. PAST PERFORMANCE IS NOT AN INDICATION OF FUTURE PERFORMANCE. THE MANGER HAS THE OPTION TO CHOOSE FROM THE TOP 2% OF THE RANKING AND CAN ALSO USE THE SP500 IN LIEU OF THE TOP 2% RANKING.