Craigmillar Equity Strategy

The Investment Strategy’s objective is to seek positive net annual returns with market like volatility over the long term through a focus on companies that benefit from the long term trend of global energy de-carbonization.

• The Portfolio Advisor applies a fundamental top/down bottom/up approach based on original research. The Advisor believes in the long-term macro trend of de-carbonization in the use of energy sources and its implication for most sectors of the economy (PROFITS = ENERGY/CARBON).

• The Advisor looks for opportunities globally and across industries and sectors. The portfolio is concentrated in single names but the manager may use ETF positions and may short positions to manage risk.

• The Portfolio will consist of a diversified portfolio of stocks of publicly traded global sustainable energy companies that can benefit from the global energy de-carbonization trends. They broadly represent power technology, sustainable fuels, hydrogen storage, advanced materials and energy recycling. The inherent value of shifting to sustainable energy is reduced financial risks and expanded energy availability.

The investment characteristics are macro energy biased, both value/growth, and varied capitalization of low-correlated equity positions.

Portfolio Advisor Robert S. Preston, III

Mr. Preston has over 30 years of experience in finance, energy research and renewable energy. Prior to Merrill Lynch, he held senior positions with other large financial firms (Paine Webber, L.F. Rothschild, Union Bank of California and Nomura), most recently acting as President of AXA Investment Managers New York. He is also an acting board member with the Northeast Sustainable Energy Association (Chair of the By-Laws Committee), Darragh Company, BusinessWeek Energy Series and the Dover Land Trust. Currently he manages publicly traded portfolios benchmarked to the Standard & Poors 500 Index and portfolios benchmarked to an Energy-only Index. His core equity approach, primarily based on his own original energy research, has outperformed the S&P 500 over the last 7 years. He is a frequent contributor to numerous on-line publications on energy issues. He also founded Craigmillar LLC in 2001, a fund focused on energy investments and, in the early 1980s, founded American Solar Design, Inc., a California company designing, installing and maintaining solar thermal micro-utilities. Mr. Preston received a BA degree in Political Science and Economics from Tulane University and an MBA from the University of Edinburgh, Scotland.