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Arlene Busch
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-----Original Message-----
From: Fund Reports - IPM <fundreports@ipm.se>
Date: Tue, 20 Dec 2011 13:52:54
To: IPM Client Relationship Management<IPMClientRelationshipManagement1@ipm.sthlm>
Subject: IPM December 15th 2011 Performance

Please find preliminary mid-month December performance below.

Fund

Status

15-dec-11

YTD

ITD (ann.)

Inception Date

IPM Global TAA Fund (A-shares, USD)

Prel.

-0.17%

-9.99%

-

-

IPM Global TAA Fund (B-shares, USD)

Prel.

-0.11%

-9.57%

9.88%

2006-07-01

IPM Global TAA Fund (C-shares, EUR)

Prel.

-0.19%

-10.18%

-

-

IPM Global TAA Fund (E-shares, USD)

Prel.

-0.21%

-10.39%

-

-

IPM Global Currency Fund (A-shares, USD)

Prel.

-0.33%

-7.28%

4.66%

2005-04-01

IPM Global Derivatives Fund (C-shares, USD)

Prel.

1.19%

2.43%

0.11%

2008-09-10

IPM Global Commodity Fund (C-shares, USD)

Prel.

0.90%

-10.55%

-2.87%

2010-04-01

IPM Multi Strategy (C-shares, USD)

Prel.

0.44%

-7.03%

-3.11%

2010-07-01


The content in this performance report has been obtained and compiled in good faith from sources believed to be reliable. However, no representation or warranty, expressed or implied, is made by IPM Informed Portfolio Management AB ("IPM") with respect to the completeness or accuracy of its contents, and it is not to be relied upon as authoritative and should not be taken in substitution for the exercise of reasoned, independent judgment by you. Recipients are urged to base their investment decisions upon such investigations as they deem necessary. To the extent permitted by applicable law, no liability whatsoever is accepted by IPM for any direct or consequential loss arising from the use of this document or its contents. The content of this performance report must not be published or distributed in the United States.

If you have any questions, please contact your relationship manager directly.
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Kind regards,
Sara Wetterholm

Client Services
IPM Informed Portfolio Management
S/B: +46 8 20 19 29
www.ipm.se<http://www.ipm.se>
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