EMAIL DETAILS

Arlene Busch

202-333-1880

abusch@rosemontseneca.com


*From:* Fund Reports - IPM [mailto:fundreports@ipm.se]
*Sent:* Tuesday, December 13, 2011 11:15 AM
*To:* IPM Client Relationship Management
*Subject:* IPM Global TAA Fund - November


Please find attached November 2011 monthly fund report for the *IPM Global
TAA Fund*.


Company news: The European finance group Catella recently purchased a
minority stake in IPM. Please visit the media area on www.ipm.se for a full
press release.


If you have any questions, please contact your relationship manager
directly.


Alternatively, you may respond to this e-mail.


Kind regards,

Client Services - IPM


Client Services
*IPM Informed Portfolio Management AB
*S/B: +46 8 20 19 29,

Direct: +46 8 506 85 991

www.ipm.se

P Please consider the environment before printing this e-mail

This email and any attached files are confidential and may be legally
privileged. If you are not the addressee(s), any disclosure, reproduction,
copying, distribution, or use of this communication is strictly prohibited.
If you have received this transmission in error please notify the sender
immediately and then delete this email. Email transmission cannot be
guaranteed to be secure or error free as information could be intercepted,
corrupted, lost, destroyed, arrive late or incomplete, or contain viruses.
The sender therefore does not accept liability for any errors or omissions
in the contents of this message, which arise as a result of email
transmission. If verification is required please request a hardcopy
version. IPM Informed Portfolio Management AB is authorised and regulated
by the Swedish Financial Supervisory Authority