EMAIL DETAILS

Arlene Busch

202-333-1880

abusch@rosemontseneca.com


*From:* Fund Reports - IPM [mailto:fundreports@ipm.se]
*Sent:* Friday, June 10, 2011 11:49 AM
*To:* IPM Client Relationship Management
*Subject:* IPM Global TAA Fund - May


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


We are delighted to announce that the IPM Global TAA Fund was awarded the
title best “Macro over $1bn” by the magazine HFMWeek on May 26. HFMWeek’s
European Performance Awards are held annually in London and recognizes the
industry’s best and brightest.


Earlier this year IPM was also voted “Hedge Fund Manager of the Year” at the
Global Pensions Award Ceremony, making this the second time in just a few
months that IPM earns major recognition in the European financial sector.

* *

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


Alternatively, you may respond to this e-mail.


Kind regards,


Sara Wetterholm


Client Services

*IPM Informed Portfolio Management***

S/B: +46 8 20 19 29

www.ipm.se

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