Institutional Allocation to The Bornhoft Group: Business Development Bank of Canada and Tricycle Asset Management utilize The Bornhoft Group as the trading manager for multiple-CTA Portfolios.

The Bornhoft Group is one of the founding members of Morningstar Hedge. Morningstar Hedge is a joint venture with Morning Star, Inc., an Illinois corporation. The first objective is to establish a set of dominant, globally recognized style benchmark indices and corresponding investment products for hedge and managed futures fund strategies. The second objective is to develop global standards and practices for investors in alternative investments. The company intends to provide internationally branded, objective rating and analysis/measurement services to the global investment market on hedge and managed futures funds. These objectives are intended to provide the foundation to become the dominant provider of content and information on hedge and managed futures funds. The company did not commence operations.

The principals of The Bornhoft Group are contributing authors to Searching for Alpha – The Quest for Exceptional Investment Performance (Wiley, 2000).