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Bull Cipher is a long / neutral strategy that invests in equity index funds. Signals are generated on a daily basis and may be short-term in nature. Bull Cipher is an absolute return model that seeks a positive rate of return over the course of a calendar year regardless of market conditions. The strategy may be positioned heavily in money market funds for periods of time, waiting for high probability opportunities.

• Bull Cipher would be considered a moderate strategy as a stand-alone offering
• Signals are generated on a daily basis and may be short-term in nature
• Bull Cipher offers a high degree of non-correlation, which makes it a suitable complement to trend following models