A Next Main Trade occurs when a new Main Trade §5.6 is initiated. Any Additions and
Subscriptions §6.1 on deposit in the Escrow Account §2.2
are transferred and credited to new Annualized Capital Account(s) §6.5 making them part of the Fund’s Assets under
Management §6.6. The AUM of the Fund §6.8 is used to
determine the amount invested in the Next Main Trade. The Trade Participation §5.10 of the Limited Partner in the
Next Main Trade is determined by the AUM of the Limited Partner §6.11 at the time of the Trade.
The distinction made between an existing Main Trade §5.6 and a New Main Trade is so new money does not participate
in existing trades. This distinction eliminates diluting the AUM of the Limited Partner §6.11, the AUM of the
Fund §6.8 and maintains the disciplines of the Trading Methodology §5.1,
Risk Management §5.4 and Money Management §5.5.