Perfomance to date on USE ( 48 months )

BATU - 1527, BOBU - 205, DFCU - 1000, NIC - 45 ,NVL - 769, SBU - 100, UCL - 41

NVL 5.4 % annualised
DFCU 9.9 %

Consolidated position is 5.4 % annualised.

Current Strategy
Buying: NVL,NIC?
Watching: UCL,BOBU
Selling: DFCU

Best consolidated position has been 11.6% worst has been (18)%

Performance to date on USE ( 42 months)

BATU - 1000, BOBU - 365, DFCU - 1000, NIC - 70 ,NVL - 985, SBU - 170, UCL - 35

NVL 18.1 % annualised
DFCU 11.4 %

Consolidated position is 11.6 % annualised.

Current Strategy
Buying: UCL?
Watching: BOBU, NIC
Selling: none

Best consolidated position has been 11.6% worst has been (18)%

Performance to date on USE ( 29 months)

BATU - 320, BOBU - 440, DFCU - 800, NIC - 60 ,NVL - 720, SBU - 200, UCL - 51


BOBU 20.7% annualised
NVL 6.2 %
DFCU 3.8%

Consolidated position is 4.3 % annualised.

Current Strategy
Buying: NVL
Watching: NIC, BATU
Selling: none

Best consolidated position has been 7% worst has been (18)%