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Excellence in Action (EIA)
All Weather Alpha Fund I,
L.P
INVESTOR PRESENTATION
December 31, 2017
1
• To outperform the S&P 500
• Generate an annual return of at least
7%
• Long-term capital appreciation
• Earn income from dividends
• Limit downside risk
The EIA All Weather Alpha Fund (“the Fund”) is a quantitative long/short equity fund which exploits
inefficiencies in the global equity markets to generate attractive absolute returns. It invests in high-quality
businesses that are currently trading at a discount to their intrinsic value.
WHO WE ARE
• The Fund was launched in Q1 2017 by Andrew Middlebrooks, CEO of EIA All Weather
Alpha Partners, LLC (“EIA”), the Fund’s General Partner
• Headquartered in Detroit, Michigan
• Andrew serves as CIO and Portfolio Manager for the Fund
• He has refined his investment process over many market cycles and will draw from his
experience to build value for the Fund
INVESTMENT STRATEGY
• The Fund seeks to capitalize on investment opportunities from undervalued securities
with long-tailed growth prospects
• The Fund will utilize GLM Analytics, our proprietary quantitative research platform, to
identify opportunities and evaluate when to buy or sell stocks
FUND OBJECTIVESOUR GOAL IS TO DELIVER ACTIVE, AFFORDABLE ALPHA
• 117.3% cumulative return
• 89.2% realized alpha
• 6.93 Sharpe ratio
TRACK RECORD1
Represents data for EIA as of December 31, 2017. Please see
disclosures on page 18 for additional information.
EIA ALL WEATHER ALPHA FUND
22
Why EIA All Weather Alpha Partners
We are active managers, not closet indexers. Our goal is to deliver affordable, active alpha.
Strong Track Record
• Our proprietary analytics platform automates our investment process and has been refined over many market cycles
• The first incarnation of our quantitative model, covering 2009 to 2015, annualized 20%+, and our second model (2015-2016)
returned 51%.
Alignment of Interests
• Our firm is wholly employee-owned and therefore unencumbered by the demands of satisfying multiple voices
• Our CEO & CIO is personally invested alongside LPs in the Fund and is therefore strongly aligned with the
financial interests of our clients
Unconstrained
• Many of our portfolios are unconstrained by market cap, geography, sector, asset class or credit rating
• We can “go anywhere” to discover value and generate alpha
Risk Management
• We institute automated portfolio level risk controls on a daily basis
• We set hard limits and quantifiable breaks to manage risk at both the portfolio and position level
• Our risk management tools include hedging strategies such as using options and short selling, covered call writing and
dynamic tactical and cash allocations
Robust Infrastructure
• We maintain a robust and scalable infrastructure that’s supported by a team of reliable and secure service providers
• Our cloud-based analytics platform can systematically analyze thousands of stocks and execute long/short strategies in
under 5 seconds
Competitive Fees
• Fair and reasonable
• 2% management fee with a 20% incentive fee the first year
• Management fee decreases to 1.75% after the first year and declines further to 1.50% after the second year
EIA ALL WEATHER ALPHA FUND
33
Leadership
EIA ALL WEATHER ALPHA FUND
ANDREW M. MIDDLEBROOKS
Chief Investment Officer and Portfolio Manager
Andrew has been investing since the age of 7 when his father started offering him stocks for his birthday. He
purchased Nike for $6.25 and sold it during his senior year of high school for a gain of 710%. Since then,
Andrew’s appetite for investing has increased, and he has continually improved and refined his investment
strategy and principles. He has diligently translated the lessons he learned over the years into computer
algorithms, which ultimately evolved into his proprietary research system called GLM Analytics. Andrew
started his career as a Legislative Aide and Deputy Press Secretary to a member of the U.S. House Financial
Services Committee. He later worked at Steward Capital Management, a privately held investment
management firm based in Michigan, where he was responsible for managing the front, middle and back
office operations for their private equity funds. Andrew left SCM in March 2017 to launch EIA, which he
seeded with his own capital. He draws from several years of investing experience to build value for our
investors.
NAUFAL SANAULLAH
Chief Macro Strategist
Prior to joining EIA, Naufal contributed to portfolio management, idea generation and macro strategy at Li
Global Investors LLC, a macro hedge fund in New York City focused on global equities, FX, interest rates and
commodities. His research helped to secure investments from a renowned family office and fund of funds.
Naufal received a Bachelor’s degree in Mathematics from the University of Michigan. He served as a Senior
Economic Analyst at the University of Michigan’s student-run Maize & Blue Fund. Naufal’s economic research
has been quoted in various media platforms, including Bloomberg and Business Insider. He is currently
pursuing a Series 3 license from the NFA.
44
GLM Analytics
• GLM Analytics automates the analysis, development, testing, execution and risk
management of investment strategies, leveraging a variety of data sources
• It combines top down macroeconomic analysis with bottom-up fundamental
analysis to identify high-quality securities trading at a discount to their intrinsic
value
• Each stock in the universe is assigned an alpha score based on the company’s
fundamentals and growth prospects, market dynamics and industry events
• Investment opportunities are ranked according to their alpha scores which forms
the basis of our buy and sell decisions
• Through breadth of data assessed, depth of analysis and speed of execution, GLM
Analytics has allowed us to avoid the flaws of qualitative analysis, i.e. human
emotion and bias
GLM Analytics is our proprietary research system that guides buying and selling decisions for our portfolios. This platform enables
us to take a deeply informed and differentiated view on thousands of securities, quickly identify a subset of investment
opportunities, and act on them in real time.
EIA ALL WEATHER ALPHA FUND
FundamentalAnalysis
The analysis of company business
drivers andmacroeconomic factors
Quantitative Analysis
The analysis of security price and
trading volume statistics
Proprietary Data Sources Analysis
Cutting edge machine-learning
algorithms to analyze novel data sources such as
news, images, social media, etc.
Data Science + Machine Learning + Parallel Cognitive Computing
55
• Alpha sources are based on in‐depth understanding of fundamental elements that drive a company’s growth trajectory
• We believe that systematically evaluating a company’s underlying strength and intrinsic worth is best accomplished using
quantitative techniques
DEPTH
BREADTH
DIVERSIFICATION
Investment Philosophy
• We believe quantitative techniques allow a manager to evaluate and process vast amounts of data with greater speed in order
to form a more comprehensive and differentiated picture of a company’s growth prospects
• We focus on automating the analysis of information from both traditional and unconventional sources to identify and capitalize
on investment opportunities that arise from mispriced fundamentals
• We believe diversifying our portfolio is critical to minimizing risk and sustaining alpha in all market environments
• We diversify our portfolios based on the time horizon of our investments and their associated risk factors
EIA ALL WEATHER ALPHA FUND
We subscribe to an investment philosophy and approach built upon depth, breadth and diversification.
66
• We invest in high-quality securities that are currently priced at a discount to their intrinsic value
• We utilize a multi-factor investment process, leveraging both bottom-up fundamental analysis and top-down macroeconomic
analysis, to identify mispriced securities with long-tailed growth prospects
INVESTMENT FOCUS
RESEARCH PROCESS
PORTFOLIO CONSTRUCTION
Investment Strategy
• A combination of internally generated proprietary research and a refinement of externally sourced information are used to
determine those companies that display:
• Based on the conviction gained through our comprehensive, proprietary analysis, we take significant positions in securities that
we believe represent our best ideas
• Our largest positions often represent our largest discounts to present value and the biggest upside potential
• We are extremely valuation sensitive and typically have a holding period ranging from 3 — 36 months
• Our portfolio is unconstrained by market cap, geography, sector, asset class or credit rating
—Record of consistent earning power
—Earnings growth rate in excess of the S&P 500
—Dominant market position or proven strength
—Attractive fundamental financial valuation
—Management/Insider ownership
—Industry growth rate in excess of GDP growth
EIA ALL WEATHER ALPHA FUND
77
GLM Analytics Framework
Our GLM Analytics framework systematically runs models on a daily basis to identify investment opportunities, forecast returns,
assess portfolio risk and execute trades.
EIA ALL WEATHER ALPHA FUND
Dynamic Equity
Alpha Models
• Daily, repetitive models
• Contextual modeling
• Sector modeling
• Proprietary alpha
weightings and algorithms
used to generate alpha
scores
Portfolio Modeling
• Runs daily
• Risk modeling
• Balance portfolio risk and
expected return
• Balance transaction costs
with alpha improvements
Due Diligence
• News screens
• Data error checks
• Risk budgeting checks
• Liquidity checks
• Cash balance
• Compliance checks
Trading
• Providing liquidity leads to
profitable trading
• Systematic trading with
anonymity
• Transaction cost capturing
and monitoring
• Minimize implementation
shortfall via efficient
execution
3,000
stocks
Alpha
Rankings
Prelim.
Trades
Final
Buy/Sell List
Identify alpha generating stocks
via running daily models
Risk reduction via portfolio
modeling
Minimize implementation shortfall
via efficient execution
Qualitative Overlay
88
Investment Criteria
The GLM Analytics framework assesses both quantitative and qualitative factors for setting valuation targets for individual
securities, determining their intrinsic worth, and driving all buy and sell decisions.
EIA ALL WEATHER ALPHA FUND
• Low price-to-earnings
• Strong cash flow
• Low price-to-book value
• Low leverage
• Earnings growth
• Historic stock price movements
FINANCIALS MANAGEMENT
• Confidence in management
• Shareholder activism
• Business strategy
• Inside ownership
• Acquisitions or divestitures
• Corporate actions
MARKET CATALYTS
• Macroeconomic environment
• Political climate
• Industry trends
• Consumer trends
• Environmental factors
• Regulatory changes
99
Investment Process Overview
We pursue a disciplined, repetitive and in-depth process to narrow down the investable universe of approximately 3,000 stocks to
the small subset of alpha generating securities selected for our portfolio.
EIA ALL WEATHER ALPHA FUND
Qualitative Review
Qualitative review of every transaction to confirm
results from quantitative analysis
Diversification
Financial Warnings
“Buy” candidates that improve diversification are
purchased when cash is available
Risk management tool to measure position-level risk
and weigh against expected return
• Top 20%: “Buy” candidates (Top 10% - best ideas)
• Bottom 50%: “Sell” decision
GLM Analytics
Alpha Rankings
Investable Universe 1,500 stock universe for small cap
1,500 stock universe for large cap
1010
Long and Short Positions
The Fund will take long and short positions in securities which it categorizes as follows:
EIA ALL WEATHER ALPHA FUND
LONG POSITIONS
The Fund generally takes long positions in investments that it
believes will grow and are trading at a discount to their long-term
value.
• Companies with leadership positions in
growing markets
• Established companies with dominant
market share
Growth Industry
Leaders1
• Steady earnings and/or revenue growth
• Recurring revenue profiles
• Outperform in weak markets
Consistent
Growers2
• Carving out a niche in an existing market
• Earlier stage companies with rapid growth
• Generate high returns over time, but with
higher volatility
Emerging Growth
Companies3
SHORT POSITIONS
The Fund generally takes short positions in investments that it
believes to be overvalued, or to hedge against the Fund’s long
exposures.
• Cyclical companies facing deteriorating
industry dynamics or risks
• Overvalued
Cycle Victims1
• Declining earnings or revenue growth
• Exposure to adverse technological
changes
• Weakening business economics
Stumbling
Stalwarts
2
• Declining valuations due to expects to
approaching market saturation
• Increase in competition
Falling Stars3
1111
Average # of Holdings 30 — 50
Position Size Ranges from 2% — 8%
Average # Trades Per Day 25 — 50
Average Holding Period 6 months — 2 years for equities, 1 — 30 days for options
Cash Fully invested. Cash position typically does not exceed 5%
Liquidity Under normal market conditions, we can unwind two-thirds of the portfolio in one trading day
Portfolio Construction
EIA ALL WEATHER ALPHA FUND
SELL DISCIPLINE
We adhere to a strict sell discipline and reassess our positions in a company when one of the following events occur:
• Stock price declines relative to industry peers
• Two consecutive quarters of earnings disappointment
• A major change in company or industry fundamentals
• The price of the business has increased well above its intrinsic value
• We identify a replacement business with superior economic fundamentals
PORTFOLIO GUIDELINES
Our portfolio is unconstrained by geography, market cap, sectors, asset class and credit ratings. We follow alpha wherever it exists,
and we continually balance expected return and portfolio risk.
1212
Portfolio Diversification
Structural views reflect the securities we believe will
generate the most attractive returns over the course of a
year, taking into account the volatility and expected risk
level of the individual securities as well as the correlation
between them.
We diversify our portfolios based on three factors, which are distinguished by the time horizon of investment and the associated
types of risk. The allocation between these three buckets is determined by our interpretation of where we are in the market cycle
and the current opportunity set.
EIA ALL WEATHER ALPHA FUND
TIME HORIZON OFINVESTMENT
RISK
PREMIUM
CORRELATION
RISK
TACTICAL
VIEWS
TIMING
RISK
IDIOSYNCRATIC
VIEWS
STRUCTURAL
VIEWS
TARGET
PORTFOLIO
RETURNS Idiosyncratic views are formed during bottom-up price
analysis and day-to-day observations of market dislocations.
Tactical views are simply an admission of the fact that our
portfolio on any randomly selected day over the course of
the year might look considerably different from another day
of the year, or the average day.
STRUCTURAL VIEWS — GREATHER THAN 12 MONTHS
IDIOSYNCRATIC VIEWS — 2-6 MONTHS
TACTICAL VIEWS — 1–30 DAYS
1313
Risk Management
• We perform automated risk measures to monitor portfolio risk, including
daily stress tests, market change simulations, daily VaR, drawdowns,
exposures and liquidity
• We maintain an internal risk protocol which is the operative amount of
risk we believe we will need to be able to take to accomplish our return
expectations
• In addition to identifying investment opportunities to amplify returns,
GLM Analytics incorporates a Risk Composite which issues financial
warnings when certain risk factors are triggered
• Our risk management tools include hedging strategies such as using
options and short selling, covered call writing and dynamic tactical and
cash allocations
We employ several techniques to mitigate risk in our portfolios. We set hard limits and quantifiable breaks to manage risk at both
the portfolio and position level.
EIA ALL WEATHER ALPHA FUND
Risk Composite
Financial Warnings Overlay
• Constantly adjust position size via active trading based
on risk/rewardprofile
• Leg in to trades — we assume a position will go against
us before in ourfavor
• Hard limits/stops
• Liquidity — trade the social size. We make sure we can
exit the position during our expected holding period
at the socialsize
• Daily stress tests and marketsimulations
• Daily “soft flag”checks
• Hard limits / stops
• Liquidity — typically 99%of portfolio can be
liquidated in 5 trading days orless
• Hedge out all non-intentional F/Xexposure
• Daily monitoring ofleverage
• Rarely overlayhedge
POSITION LEVEL RISK MEASURES PORTFOLIO LEVEL RISK MEASURES
Earnings
Strength
Credit Holder
Liquidity
Profitability
Test
Capital
Structure
1414
0%
20%
40%
60%
80%
100%
Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Dec-17
Active Return
January 2, 2017 — December 31, 2017
EIA All Weather Alpha Partners SPDR S&P 500
0%
20%
40%
60%
80%
100%
120%
Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Dec-17
Cumulative Return
January 2, 2017 — December 31, 2017
EIA All Weather Alpha Partners SPDR S&P 500
Performance Track Record
EIA ALL WEATHER ALPHA FUND
Realized Risk EIA S&P 500
Realized Alpha (%) 89.20 0.00
Realized Tracking Error (%) 14.78 0.00
Realized Beta 1.19 1.00
Sharpe Ratio 6.93 3.63
Portfolio Statistics EIA S&P 500
Number of Holdings 57 N/A
Profitable Periods (%) 69.81 66.04
Maximum Drawdown (%) -4.53 -2.07
Batting Average 0.66 0.32
As of December 31, 2017
95.4%
21.8%
117.3%
1515
Average
Weight
Portfolio
Return
Portfolio
Contribution
Bottom 5 Totals & Averages 1.79%
Ferrari 0.59% -7.36% -0.25%
Navient Corp 0.06% -6.70% -0.09%
DTE Energy 0.53% -1.52% -0.05%
Hertz Global 0.31% -4.70% -0.04%
Carmax 0.30% -6.34% -0.03%
Average
Weight
Portfolio
Return
Portfolio
Contribution
Top 5 Totals & Averages 21.64%
Straight Path Communications 4.69% 430.52% 23.96%
Bitcoin Investment Trust 1.31% 102.61% 10.44%
Fiat Chrysler 3.25% 95.61% 5.71%
Tesla Inc 5.44% 45.70% 5.32%
Amazon Inc 6.95% 55.96% 5.11%
Average
Weight
Portfolio
Return
Portfolio
Contribution
Bottom 5 Totals & Averages 4.74%
Industrials 0.76% 7.67% 0.38%
Consumer Non-Cyclicals 0.49% 25.01% 0.72%
Utilities 0.93% 133.66% 1.08%
Basic Materials 1.58% 56.84% 1.49%
Energy 0.98% 54.53% 2.04%
Average
Weight
Portfolio
Return
Portfolio
Contribution
Top 5 Totals & Averages 94.57%
Financials 25.01% 99.21% 27.66%
Technology 32.38% 78.22% 25.79%
Telecom Services 8.13% 239.35% 25.20%
Consumer Cyclicals 25.83% 80.61% 22.79%
Healthcare 3.22% 79.36% 6.43%
Performance Track Record (cont’d)
EIA ALL WEATHER ALPHA FUND
As of December 31, 2017
TOP CONTRIBUTORS BY SECTOR BOTTOM CONTRIBUTORS BY SECTOR
TOP CONTRIBUTORS BOTTOM CONTRIBUTORS
1616
Fund Terms & Service Providers
Fund Structure Evergreen
Minimum Investment $10,000
Management Fee 2% (first year), 1.75% (second year), 1.50% (thereafter)
Incentive Fee 20% (first year), 17.5% (second year), 15% (thereafter)
Lock-up Period 180 days
Redemptions Monthly
Waterfall
• 1st to Investors: Payment of shortfall on 7% cumulative, non-compounding return
• 2nd to Investors: Return of principal investment to Investor
• Thereafter: 80% Fund / 20%Sponsorship
EIA ALL WEATHER ALPHA FUND
KEY FUND TERMS
SERVICE PROVIDERS
Prime Broker Administrator Auditor Legal Counsel
1717
Advisory Board
EIA ALL WEATHER ALPHA FUND
MICHAEL BEAL
Managing Member & Chief Executive Officer,
Data Capital Management
Michael co-founded the JP Morgan Intelligent
Solutions Group, where he served as Head of the
Strategy, Finance and Controls team. In addition, he
led the creation of the first Big Data approach to
collateral optimization and counterparty risk
reduction. Michael holds an MBA from Harvard
Business School and a BA in Economics from Harvard
College .
PAMELA S. ROBERTSON
NAPOLEON HERNANDEZ-WARREN
Chief Data Scientist & Chief Operating Officer,
Data Capital Management
Napoleon held several positions at JP Morgan from
2008 to 2015, most recently in their Intelligent
Solutions Group, where he developed the first Big
Data approach to collateral management
optimization, as well as the analytics behind the next
generation of fund NAV analytics. Napoleon holds a
PhD in General Relativity from the University of Utah.
RAY GUNN
ALI NAZARI
Portfolio Manager & Chief Investment Officer
Data Capital Management
Ali previously worked in JP Morgan’s Intelligent
Solutions Group, where he developed the first Big
Data approach to collateral management
optimization. Ali holds a PhD in Electrical Engineering
and Computer Science from the University of
Michigan at Ann Arbor. He also holds an MSc in
Financial Engineering. In 2009, he received the IEEE
Information Theory Society best paper award.
ALEX GANNES
Partner,
Squire Patton Boggs
Pamela is a transactional attorney who counsels
corporate and governmental clients on complex
matters. Pamela has extensive experience
representing public pension funds and other
institutional investors with respect to investment in
private equity, venture capital, hedge and other
alternative investments.
Operating Partner,
ARM Equity
Ray is a seasoned CEO, Financial & Operating
Executive and Board Director with a strong
background in business strategy and development
along with exceptional deal making and team building
skills. Ray became a partner of ARM Equity and its
affiliate Anchor Resource Management in June
2017. Previously, he was a Senior Managing Director
at Van Conway & Partners.
Managing Principal
Banyak Group
Alex is a senior retained search consultant and advisor
within the global investment management industry.
He founded Banyak Group, a retained search,
consultancy and advisory firm in 2012 to continue his
work as a human capital specialist to hedge funds,
private equity funds, asset managers, family offices,
and VC’s. An expert in his field, Alex has served as a
coach and mentor to those building funds as well as
those opportunistically navigating the financial
industry.
1818
Disclaimers
EIα All Weather Alpha Partners Fund I, L.P. is a Delaware limited partnership (the “Fund”). Its general partner is EIα All Weather Alpha Partners, LLC. (the “General Partner”), a Michigan
limited liability company. The General Partner will also be the Fund’s investment adviser (the “Investment Manager”). The General Partner is exempt from registration as an investment adviser
with the SEC and in Michigan under an exemption available to advisers whose only clients are "private funds" (such as the Fund) and that satisfy certain other requirements. The General
Partner’s principal is Andrew M. Middlebrooks, who will manage the Fund’s securities portfolio on behalf of the General Partner.
EIα All Weather Alpha Partners Fund I, L.P.(the “Fund”), the first fund managed by EIα All Weather Alpha Partners, LLC., is being established to invest in securities, derivatives and other
financial instruments that, in the portfolio managers’ opinion, offer the opportunity for long-term growth of capital. As well as, intended to generate a high level of income from a wide array
of sources.
This investment strategy involves identifying instances where the portfolio manager believes the capital markets have mispriced investment opportunities and exploiting price discrepancies
and inefficiencies in the market. The fund’s strategy is not limited by investment style or asset class, and the portfolio managers have the ability to tactically move across asset classes and up
and down the capital structure in an effort to access the greatest yield and valuation opportunities. The portfolio managers believe that this flexible approach will allow the fund to maintain a
high level of income while also preserving the opportunity for growth over time.
There is no assurance that any company selected for investment will, once categorized in one of the three described investment categories, continue to have the positive characteristics or
fulfill the expectations that the advisor had for the company when it was selected for investment, and any such company may not grow or may decline in earnings and size. The Fund selects
foreign securities issued by companies domiciled in countries whose currencies are freely convertible into U.S. dollars, or in companies in other countries whose business is conducted
primarily in U.S. dollars (which could include developing countries). Debt obligations may be considered for investment if EIα All Weather Alpha Partners, LLC. believes them to be more
attractive than equity alternatives, or to manage risk. The Fund may purchase debt obligations of any maturity and of any credit quality, including “high yield” or “junk” bonds. There is no
minimum credit quality or rating of debt obligation the Fund may purchase.
The Fund may invest in derivative instruments such as options, futures contracts, options on futures contracts, and swap agreements to the extent EIα All Weather Alpha Partners, LLC.
believes such investments may assist the Fund in pursuing its investment goal.
Debt obligations may be considered for investment if EIα All Weather Alpha Partners, LLC. believes them to be more attractive than equity alternatives, or to manage risk. The Fund may
purchase debt obligations of any maturity and of any credit quality, including “high yield” or “junk” bonds. There is no mini- mum credit quality or rating of debt obligation the Fund may
purchase.
In addition to identifying instances where the manager believes the capital markets have mispriced investment opportunities and exploiting price discrepancies and inefficiencies in the
market, the fund will also invest in cash distributing equity, and equity-like securities, fixed income securities, derivatives, and other financial instruments of issuers located anywhere in the
world. The cash distributing securities in which the fund may invest include, but are not limited to, common stock, business development companies, real estate investment trusts (“REITs”),
master limited partnerships (“MLPs”), closed-end investment companies, exchange traded funds (“ETFs”), preferred stock, convertible securities, securities issued through private
placements, trust preferred securities, investment grade corporate bonds, below investment grade corporate bonds (commonly known as “junk bonds”), royalty trusts, asset-backed and
mortgage-backed securities, private mortgage-related securities, including non-U.S. mortgage pass- through securities, U.S. government and agency bonds, sovereign government and agency
bonds, bank loans, emerging market debt, equipment trust certificates, money market instruments, zero coupon bonds, indexed securities, including those that are linked to currencies, and
inflation-indexed securities, structured notes including those that are linked to currencies, depositary receipts, and floating rate debt instruments. The fund can invest without limit in foreign
securities in any country, including countries with developing or emerging markets.
Derivatives may be used by the fund as a hedging technique in an attempt to manage risk; as a substitute for buying or selling securities; to provide additional exposure to investment types
or market factors; to change the characteristics of the fund’s portfolio; and/or in an attempt to enhance income or returns. Derivative instruments the fund may use include, but are not
limited to, covered calls, forwards, including currency forwards, futures, structured notes, swaps, caps, floors, and collars. The fund’s derivative investments may be significant at times.
Although the portfolio managers have the flexibility to make use of derivatives for hedging purposes, they may choose not to for a variety of reasons, even under very volatile market
conditions.
EIA ALL WEATHER ALPHA FUND
19
Contact Us
7650 Second Avenue, Suite 224
Detroit, MI 48202
info@eiaalphapartners.com
www.eiaalphapartners.com
248.990.1938
Contact us to find out more about the Fund.
EIA ALL WEATHER ALPHA FUND

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EIA AWAF 1 pitch book q4 2017

  • 1. Excellence in Action (EIA) All Weather Alpha Fund I, L.P INVESTOR PRESENTATION December 31, 2017
  • 2. 1 • To outperform the S&P 500 • Generate an annual return of at least 7% • Long-term capital appreciation • Earn income from dividends • Limit downside risk The EIA All Weather Alpha Fund (“the Fund”) is a quantitative long/short equity fund which exploits inefficiencies in the global equity markets to generate attractive absolute returns. It invests in high-quality businesses that are currently trading at a discount to their intrinsic value. WHO WE ARE • The Fund was launched in Q1 2017 by Andrew Middlebrooks, CEO of EIA All Weather Alpha Partners, LLC (“EIA”), the Fund’s General Partner • Headquartered in Detroit, Michigan • Andrew serves as CIO and Portfolio Manager for the Fund • He has refined his investment process over many market cycles and will draw from his experience to build value for the Fund INVESTMENT STRATEGY • The Fund seeks to capitalize on investment opportunities from undervalued securities with long-tailed growth prospects • The Fund will utilize GLM Analytics, our proprietary quantitative research platform, to identify opportunities and evaluate when to buy or sell stocks FUND OBJECTIVESOUR GOAL IS TO DELIVER ACTIVE, AFFORDABLE ALPHA • 117.3% cumulative return • 89.2% realized alpha • 6.93 Sharpe ratio TRACK RECORD1 Represents data for EIA as of December 31, 2017. Please see disclosures on page 18 for additional information. EIA ALL WEATHER ALPHA FUND
  • 3. 22 Why EIA All Weather Alpha Partners We are active managers, not closet indexers. Our goal is to deliver affordable, active alpha. Strong Track Record • Our proprietary analytics platform automates our investment process and has been refined over many market cycles • The first incarnation of our quantitative model, covering 2009 to 2015, annualized 20%+, and our second model (2015-2016) returned 51%. Alignment of Interests • Our firm is wholly employee-owned and therefore unencumbered by the demands of satisfying multiple voices • Our CEO & CIO is personally invested alongside LPs in the Fund and is therefore strongly aligned with the financial interests of our clients Unconstrained • Many of our portfolios are unconstrained by market cap, geography, sector, asset class or credit rating • We can “go anywhere” to discover value and generate alpha Risk Management • We institute automated portfolio level risk controls on a daily basis • We set hard limits and quantifiable breaks to manage risk at both the portfolio and position level • Our risk management tools include hedging strategies such as using options and short selling, covered call writing and dynamic tactical and cash allocations Robust Infrastructure • We maintain a robust and scalable infrastructure that’s supported by a team of reliable and secure service providers • Our cloud-based analytics platform can systematically analyze thousands of stocks and execute long/short strategies in under 5 seconds Competitive Fees • Fair and reasonable • 2% management fee with a 20% incentive fee the first year • Management fee decreases to 1.75% after the first year and declines further to 1.50% after the second year EIA ALL WEATHER ALPHA FUND
  • 4. 33 Leadership EIA ALL WEATHER ALPHA FUND ANDREW M. MIDDLEBROOKS Chief Investment Officer and Portfolio Manager Andrew has been investing since the age of 7 when his father started offering him stocks for his birthday. He purchased Nike for $6.25 and sold it during his senior year of high school for a gain of 710%. Since then, Andrew’s appetite for investing has increased, and he has continually improved and refined his investment strategy and principles. He has diligently translated the lessons he learned over the years into computer algorithms, which ultimately evolved into his proprietary research system called GLM Analytics. Andrew started his career as a Legislative Aide and Deputy Press Secretary to a member of the U.S. House Financial Services Committee. He later worked at Steward Capital Management, a privately held investment management firm based in Michigan, where he was responsible for managing the front, middle and back office operations for their private equity funds. Andrew left SCM in March 2017 to launch EIA, which he seeded with his own capital. He draws from several years of investing experience to build value for our investors. NAUFAL SANAULLAH Chief Macro Strategist Prior to joining EIA, Naufal contributed to portfolio management, idea generation and macro strategy at Li Global Investors LLC, a macro hedge fund in New York City focused on global equities, FX, interest rates and commodities. His research helped to secure investments from a renowned family office and fund of funds. Naufal received a Bachelor’s degree in Mathematics from the University of Michigan. He served as a Senior Economic Analyst at the University of Michigan’s student-run Maize & Blue Fund. Naufal’s economic research has been quoted in various media platforms, including Bloomberg and Business Insider. He is currently pursuing a Series 3 license from the NFA.
  • 5. 44 GLM Analytics • GLM Analytics automates the analysis, development, testing, execution and risk management of investment strategies, leveraging a variety of data sources • It combines top down macroeconomic analysis with bottom-up fundamental analysis to identify high-quality securities trading at a discount to their intrinsic value • Each stock in the universe is assigned an alpha score based on the company’s fundamentals and growth prospects, market dynamics and industry events • Investment opportunities are ranked according to their alpha scores which forms the basis of our buy and sell decisions • Through breadth of data assessed, depth of analysis and speed of execution, GLM Analytics has allowed us to avoid the flaws of qualitative analysis, i.e. human emotion and bias GLM Analytics is our proprietary research system that guides buying and selling decisions for our portfolios. This platform enables us to take a deeply informed and differentiated view on thousands of securities, quickly identify a subset of investment opportunities, and act on them in real time. EIA ALL WEATHER ALPHA FUND FundamentalAnalysis The analysis of company business drivers andmacroeconomic factors Quantitative Analysis The analysis of security price and trading volume statistics Proprietary Data Sources Analysis Cutting edge machine-learning algorithms to analyze novel data sources such as news, images, social media, etc. Data Science + Machine Learning + Parallel Cognitive Computing
  • 6. 55 • Alpha sources are based on in‐depth understanding of fundamental elements that drive a company’s growth trajectory • We believe that systematically evaluating a company’s underlying strength and intrinsic worth is best accomplished using quantitative techniques DEPTH BREADTH DIVERSIFICATION Investment Philosophy • We believe quantitative techniques allow a manager to evaluate and process vast amounts of data with greater speed in order to form a more comprehensive and differentiated picture of a company’s growth prospects • We focus on automating the analysis of information from both traditional and unconventional sources to identify and capitalize on investment opportunities that arise from mispriced fundamentals • We believe diversifying our portfolio is critical to minimizing risk and sustaining alpha in all market environments • We diversify our portfolios based on the time horizon of our investments and their associated risk factors EIA ALL WEATHER ALPHA FUND We subscribe to an investment philosophy and approach built upon depth, breadth and diversification.
  • 7. 66 • We invest in high-quality securities that are currently priced at a discount to their intrinsic value • We utilize a multi-factor investment process, leveraging both bottom-up fundamental analysis and top-down macroeconomic analysis, to identify mispriced securities with long-tailed growth prospects INVESTMENT FOCUS RESEARCH PROCESS PORTFOLIO CONSTRUCTION Investment Strategy • A combination of internally generated proprietary research and a refinement of externally sourced information are used to determine those companies that display: • Based on the conviction gained through our comprehensive, proprietary analysis, we take significant positions in securities that we believe represent our best ideas • Our largest positions often represent our largest discounts to present value and the biggest upside potential • We are extremely valuation sensitive and typically have a holding period ranging from 3 — 36 months • Our portfolio is unconstrained by market cap, geography, sector, asset class or credit rating —Record of consistent earning power —Earnings growth rate in excess of the S&P 500 —Dominant market position or proven strength —Attractive fundamental financial valuation —Management/Insider ownership —Industry growth rate in excess of GDP growth EIA ALL WEATHER ALPHA FUND
  • 8. 77 GLM Analytics Framework Our GLM Analytics framework systematically runs models on a daily basis to identify investment opportunities, forecast returns, assess portfolio risk and execute trades. EIA ALL WEATHER ALPHA FUND Dynamic Equity Alpha Models • Daily, repetitive models • Contextual modeling • Sector modeling • Proprietary alpha weightings and algorithms used to generate alpha scores Portfolio Modeling • Runs daily • Risk modeling • Balance portfolio risk and expected return • Balance transaction costs with alpha improvements Due Diligence • News screens • Data error checks • Risk budgeting checks • Liquidity checks • Cash balance • Compliance checks Trading • Providing liquidity leads to profitable trading • Systematic trading with anonymity • Transaction cost capturing and monitoring • Minimize implementation shortfall via efficient execution 3,000 stocks Alpha Rankings Prelim. Trades Final Buy/Sell List Identify alpha generating stocks via running daily models Risk reduction via portfolio modeling Minimize implementation shortfall via efficient execution Qualitative Overlay
  • 9. 88 Investment Criteria The GLM Analytics framework assesses both quantitative and qualitative factors for setting valuation targets for individual securities, determining their intrinsic worth, and driving all buy and sell decisions. EIA ALL WEATHER ALPHA FUND • Low price-to-earnings • Strong cash flow • Low price-to-book value • Low leverage • Earnings growth • Historic stock price movements FINANCIALS MANAGEMENT • Confidence in management • Shareholder activism • Business strategy • Inside ownership • Acquisitions or divestitures • Corporate actions MARKET CATALYTS • Macroeconomic environment • Political climate • Industry trends • Consumer trends • Environmental factors • Regulatory changes
  • 10. 99 Investment Process Overview We pursue a disciplined, repetitive and in-depth process to narrow down the investable universe of approximately 3,000 stocks to the small subset of alpha generating securities selected for our portfolio. EIA ALL WEATHER ALPHA FUND Qualitative Review Qualitative review of every transaction to confirm results from quantitative analysis Diversification Financial Warnings “Buy” candidates that improve diversification are purchased when cash is available Risk management tool to measure position-level risk and weigh against expected return • Top 20%: “Buy” candidates (Top 10% - best ideas) • Bottom 50%: “Sell” decision GLM Analytics Alpha Rankings Investable Universe 1,500 stock universe for small cap 1,500 stock universe for large cap
  • 11. 1010 Long and Short Positions The Fund will take long and short positions in securities which it categorizes as follows: EIA ALL WEATHER ALPHA FUND LONG POSITIONS The Fund generally takes long positions in investments that it believes will grow and are trading at a discount to their long-term value. • Companies with leadership positions in growing markets • Established companies with dominant market share Growth Industry Leaders1 • Steady earnings and/or revenue growth • Recurring revenue profiles • Outperform in weak markets Consistent Growers2 • Carving out a niche in an existing market • Earlier stage companies with rapid growth • Generate high returns over time, but with higher volatility Emerging Growth Companies3 SHORT POSITIONS The Fund generally takes short positions in investments that it believes to be overvalued, or to hedge against the Fund’s long exposures. • Cyclical companies facing deteriorating industry dynamics or risks • Overvalued Cycle Victims1 • Declining earnings or revenue growth • Exposure to adverse technological changes • Weakening business economics Stumbling Stalwarts 2 • Declining valuations due to expects to approaching market saturation • Increase in competition Falling Stars3
  • 12. 1111 Average # of Holdings 30 — 50 Position Size Ranges from 2% — 8% Average # Trades Per Day 25 — 50 Average Holding Period 6 months — 2 years for equities, 1 — 30 days for options Cash Fully invested. Cash position typically does not exceed 5% Liquidity Under normal market conditions, we can unwind two-thirds of the portfolio in one trading day Portfolio Construction EIA ALL WEATHER ALPHA FUND SELL DISCIPLINE We adhere to a strict sell discipline and reassess our positions in a company when one of the following events occur: • Stock price declines relative to industry peers • Two consecutive quarters of earnings disappointment • A major change in company or industry fundamentals • The price of the business has increased well above its intrinsic value • We identify a replacement business with superior economic fundamentals PORTFOLIO GUIDELINES Our portfolio is unconstrained by geography, market cap, sectors, asset class and credit ratings. We follow alpha wherever it exists, and we continually balance expected return and portfolio risk.
  • 13. 1212 Portfolio Diversification Structural views reflect the securities we believe will generate the most attractive returns over the course of a year, taking into account the volatility and expected risk level of the individual securities as well as the correlation between them. We diversify our portfolios based on three factors, which are distinguished by the time horizon of investment and the associated types of risk. The allocation between these three buckets is determined by our interpretation of where we are in the market cycle and the current opportunity set. EIA ALL WEATHER ALPHA FUND TIME HORIZON OFINVESTMENT RISK PREMIUM CORRELATION RISK TACTICAL VIEWS TIMING RISK IDIOSYNCRATIC VIEWS STRUCTURAL VIEWS TARGET PORTFOLIO RETURNS Idiosyncratic views are formed during bottom-up price analysis and day-to-day observations of market dislocations. Tactical views are simply an admission of the fact that our portfolio on any randomly selected day over the course of the year might look considerably different from another day of the year, or the average day. STRUCTURAL VIEWS — GREATHER THAN 12 MONTHS IDIOSYNCRATIC VIEWS — 2-6 MONTHS TACTICAL VIEWS — 1–30 DAYS
  • 14. 1313 Risk Management • We perform automated risk measures to monitor portfolio risk, including daily stress tests, market change simulations, daily VaR, drawdowns, exposures and liquidity • We maintain an internal risk protocol which is the operative amount of risk we believe we will need to be able to take to accomplish our return expectations • In addition to identifying investment opportunities to amplify returns, GLM Analytics incorporates a Risk Composite which issues financial warnings when certain risk factors are triggered • Our risk management tools include hedging strategies such as using options and short selling, covered call writing and dynamic tactical and cash allocations We employ several techniques to mitigate risk in our portfolios. We set hard limits and quantifiable breaks to manage risk at both the portfolio and position level. EIA ALL WEATHER ALPHA FUND Risk Composite Financial Warnings Overlay • Constantly adjust position size via active trading based on risk/rewardprofile • Leg in to trades — we assume a position will go against us before in ourfavor • Hard limits/stops • Liquidity — trade the social size. We make sure we can exit the position during our expected holding period at the socialsize • Daily stress tests and marketsimulations • Daily “soft flag”checks • Hard limits / stops • Liquidity — typically 99%of portfolio can be liquidated in 5 trading days orless • Hedge out all non-intentional F/Xexposure • Daily monitoring ofleverage • Rarely overlayhedge POSITION LEVEL RISK MEASURES PORTFOLIO LEVEL RISK MEASURES Earnings Strength Credit Holder Liquidity Profitability Test Capital Structure
  • 15. 1414 0% 20% 40% 60% 80% 100% Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Dec-17 Active Return January 2, 2017 — December 31, 2017 EIA All Weather Alpha Partners SPDR S&P 500 0% 20% 40% 60% 80% 100% 120% Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Dec-17 Cumulative Return January 2, 2017 — December 31, 2017 EIA All Weather Alpha Partners SPDR S&P 500 Performance Track Record EIA ALL WEATHER ALPHA FUND Realized Risk EIA S&P 500 Realized Alpha (%) 89.20 0.00 Realized Tracking Error (%) 14.78 0.00 Realized Beta 1.19 1.00 Sharpe Ratio 6.93 3.63 Portfolio Statistics EIA S&P 500 Number of Holdings 57 N/A Profitable Periods (%) 69.81 66.04 Maximum Drawdown (%) -4.53 -2.07 Batting Average 0.66 0.32 As of December 31, 2017 95.4% 21.8% 117.3%
  • 16. 1515 Average Weight Portfolio Return Portfolio Contribution Bottom 5 Totals & Averages 1.79% Ferrari 0.59% -7.36% -0.25% Navient Corp 0.06% -6.70% -0.09% DTE Energy 0.53% -1.52% -0.05% Hertz Global 0.31% -4.70% -0.04% Carmax 0.30% -6.34% -0.03% Average Weight Portfolio Return Portfolio Contribution Top 5 Totals & Averages 21.64% Straight Path Communications 4.69% 430.52% 23.96% Bitcoin Investment Trust 1.31% 102.61% 10.44% Fiat Chrysler 3.25% 95.61% 5.71% Tesla Inc 5.44% 45.70% 5.32% Amazon Inc 6.95% 55.96% 5.11% Average Weight Portfolio Return Portfolio Contribution Bottom 5 Totals & Averages 4.74% Industrials 0.76% 7.67% 0.38% Consumer Non-Cyclicals 0.49% 25.01% 0.72% Utilities 0.93% 133.66% 1.08% Basic Materials 1.58% 56.84% 1.49% Energy 0.98% 54.53% 2.04% Average Weight Portfolio Return Portfolio Contribution Top 5 Totals & Averages 94.57% Financials 25.01% 99.21% 27.66% Technology 32.38% 78.22% 25.79% Telecom Services 8.13% 239.35% 25.20% Consumer Cyclicals 25.83% 80.61% 22.79% Healthcare 3.22% 79.36% 6.43% Performance Track Record (cont’d) EIA ALL WEATHER ALPHA FUND As of December 31, 2017 TOP CONTRIBUTORS BY SECTOR BOTTOM CONTRIBUTORS BY SECTOR TOP CONTRIBUTORS BOTTOM CONTRIBUTORS
  • 17. 1616 Fund Terms & Service Providers Fund Structure Evergreen Minimum Investment $10,000 Management Fee 2% (first year), 1.75% (second year), 1.50% (thereafter) Incentive Fee 20% (first year), 17.5% (second year), 15% (thereafter) Lock-up Period 180 days Redemptions Monthly Waterfall • 1st to Investors: Payment of shortfall on 7% cumulative, non-compounding return • 2nd to Investors: Return of principal investment to Investor • Thereafter: 80% Fund / 20%Sponsorship EIA ALL WEATHER ALPHA FUND KEY FUND TERMS SERVICE PROVIDERS Prime Broker Administrator Auditor Legal Counsel
  • 18. 1717 Advisory Board EIA ALL WEATHER ALPHA FUND MICHAEL BEAL Managing Member & Chief Executive Officer, Data Capital Management Michael co-founded the JP Morgan Intelligent Solutions Group, where he served as Head of the Strategy, Finance and Controls team. In addition, he led the creation of the first Big Data approach to collateral optimization and counterparty risk reduction. Michael holds an MBA from Harvard Business School and a BA in Economics from Harvard College . PAMELA S. ROBERTSON NAPOLEON HERNANDEZ-WARREN Chief Data Scientist & Chief Operating Officer, Data Capital Management Napoleon held several positions at JP Morgan from 2008 to 2015, most recently in their Intelligent Solutions Group, where he developed the first Big Data approach to collateral management optimization, as well as the analytics behind the next generation of fund NAV analytics. Napoleon holds a PhD in General Relativity from the University of Utah. RAY GUNN ALI NAZARI Portfolio Manager & Chief Investment Officer Data Capital Management Ali previously worked in JP Morgan’s Intelligent Solutions Group, where he developed the first Big Data approach to collateral management optimization. Ali holds a PhD in Electrical Engineering and Computer Science from the University of Michigan at Ann Arbor. He also holds an MSc in Financial Engineering. In 2009, he received the IEEE Information Theory Society best paper award. ALEX GANNES Partner, Squire Patton Boggs Pamela is a transactional attorney who counsels corporate and governmental clients on complex matters. Pamela has extensive experience representing public pension funds and other institutional investors with respect to investment in private equity, venture capital, hedge and other alternative investments. Operating Partner, ARM Equity Ray is a seasoned CEO, Financial & Operating Executive and Board Director with a strong background in business strategy and development along with exceptional deal making and team building skills. Ray became a partner of ARM Equity and its affiliate Anchor Resource Management in June 2017. Previously, he was a Senior Managing Director at Van Conway & Partners. Managing Principal Banyak Group Alex is a senior retained search consultant and advisor within the global investment management industry. He founded Banyak Group, a retained search, consultancy and advisory firm in 2012 to continue his work as a human capital specialist to hedge funds, private equity funds, asset managers, family offices, and VC’s. An expert in his field, Alex has served as a coach and mentor to those building funds as well as those opportunistically navigating the financial industry.
  • 19. 1818 Disclaimers EIα All Weather Alpha Partners Fund I, L.P. is a Delaware limited partnership (the “Fund”). Its general partner is EIα All Weather Alpha Partners, LLC. (the “General Partner”), a Michigan limited liability company. The General Partner will also be the Fund’s investment adviser (the “Investment Manager”). The General Partner is exempt from registration as an investment adviser with the SEC and in Michigan under an exemption available to advisers whose only clients are "private funds" (such as the Fund) and that satisfy certain other requirements. The General Partner’s principal is Andrew M. Middlebrooks, who will manage the Fund’s securities portfolio on behalf of the General Partner. EIα All Weather Alpha Partners Fund I, L.P.(the “Fund”), the first fund managed by EIα All Weather Alpha Partners, LLC., is being established to invest in securities, derivatives and other financial instruments that, in the portfolio managers’ opinion, offer the opportunity for long-term growth of capital. As well as, intended to generate a high level of income from a wide array of sources. This investment strategy involves identifying instances where the portfolio manager believes the capital markets have mispriced investment opportunities and exploiting price discrepancies and inefficiencies in the market. The fund’s strategy is not limited by investment style or asset class, and the portfolio managers have the ability to tactically move across asset classes and up and down the capital structure in an effort to access the greatest yield and valuation opportunities. The portfolio managers believe that this flexible approach will allow the fund to maintain a high level of income while also preserving the opportunity for growth over time. There is no assurance that any company selected for investment will, once categorized in one of the three described investment categories, continue to have the positive characteristics or fulfill the expectations that the advisor had for the company when it was selected for investment, and any such company may not grow or may decline in earnings and size. The Fund selects foreign securities issued by companies domiciled in countries whose currencies are freely convertible into U.S. dollars, or in companies in other countries whose business is conducted primarily in U.S. dollars (which could include developing countries). Debt obligations may be considered for investment if EIα All Weather Alpha Partners, LLC. believes them to be more attractive than equity alternatives, or to manage risk. The Fund may purchase debt obligations of any maturity and of any credit quality, including “high yield” or “junk” bonds. There is no minimum credit quality or rating of debt obligation the Fund may purchase. The Fund may invest in derivative instruments such as options, futures contracts, options on futures contracts, and swap agreements to the extent EIα All Weather Alpha Partners, LLC. believes such investments may assist the Fund in pursuing its investment goal. Debt obligations may be considered for investment if EIα All Weather Alpha Partners, LLC. believes them to be more attractive than equity alternatives, or to manage risk. The Fund may purchase debt obligations of any maturity and of any credit quality, including “high yield” or “junk” bonds. There is no mini- mum credit quality or rating of debt obligation the Fund may purchase. In addition to identifying instances where the manager believes the capital markets have mispriced investment opportunities and exploiting price discrepancies and inefficiencies in the market, the fund will also invest in cash distributing equity, and equity-like securities, fixed income securities, derivatives, and other financial instruments of issuers located anywhere in the world. The cash distributing securities in which the fund may invest include, but are not limited to, common stock, business development companies, real estate investment trusts (“REITs”), master limited partnerships (“MLPs”), closed-end investment companies, exchange traded funds (“ETFs”), preferred stock, convertible securities, securities issued through private placements, trust preferred securities, investment grade corporate bonds, below investment grade corporate bonds (commonly known as “junk bonds”), royalty trusts, asset-backed and mortgage-backed securities, private mortgage-related securities, including non-U.S. mortgage pass- through securities, U.S. government and agency bonds, sovereign government and agency bonds, bank loans, emerging market debt, equipment trust certificates, money market instruments, zero coupon bonds, indexed securities, including those that are linked to currencies, and inflation-indexed securities, structured notes including those that are linked to currencies, depositary receipts, and floating rate debt instruments. The fund can invest without limit in foreign securities in any country, including countries with developing or emerging markets. Derivatives may be used by the fund as a hedging technique in an attempt to manage risk; as a substitute for buying or selling securities; to provide additional exposure to investment types or market factors; to change the characteristics of the fund’s portfolio; and/or in an attempt to enhance income or returns. Derivative instruments the fund may use include, but are not limited to, covered calls, forwards, including currency forwards, futures, structured notes, swaps, caps, floors, and collars. The fund’s derivative investments may be significant at times. Although the portfolio managers have the flexibility to make use of derivatives for hedging purposes, they may choose not to for a variety of reasons, even under very volatile market conditions. EIA ALL WEATHER ALPHA FUND
  • 20. 19 Contact Us 7650 Second Avenue, Suite 224 Detroit, MI 48202 info@eiaalphapartners.com www.eiaalphapartners.com 248.990.1938 Contact us to find out more about the Fund. EIA ALL WEATHER ALPHA FUND