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We are scheduled to launch the Pantera IGS Fund in early May and are taking subscriptions now. As you know, Pantera is an alternative cash fund that invests in time deposits at the highest-rated banks in Europe as collateral for purchasing new-issue EMTNs from the largest European banks for immediate re-sale and same-day trades in order to realize immediate trading profits.

PANTERA IGS FUND UPDATE AND EMTN MARKET INFO

1) Principal Protection - Pantera invests in time deposits at the largest European banks with a minimum rating of AA- offering safety of principal along with the liquidity of monthly redemption for investors, as well as having the TDs funded in 50% USD and 50% EUR so that the Fund remains neutral on the two largest currencies.

2) Hi-Grade Banks are Safer than the Sovereign Debt of their Own Countries - This is because banks are always accountable and are among the most highly-regulated institutions that must maintain strong balance sheets. Governments are not.

WHY PANTERA IS AN IMPORTANT INVESTMENT ALTERNATIVE IN CURRENT MARKET CONDITIONS:

The Pantera IGS Fund has officially signed with PWC Austria to be the Fund's tax representative in that country. PWC will file the proper reporting to the Austrian Tax Authority for the Fund to have "blutenweiss" or "extra clear" reporting of the monthly NAV beginning upon the launch of the Fund, scheduled for 1st May.

PANTERA IGS FUND SIGNS WITH PRICEWATERHOUSECOOPERS AUSTRIA AS AUSTRIAN TAX REPRESENTATIVE

Pantera IGS Fund news and market info

Please note this financial headline on Bloomberg this morning about the record bond issuances from European banks for refinancing maturing debt. The Pantera IGS Fund will participate in these issuances upon launch for immediate profits and total returns for investors. We are accepting subscriptions now, so please inform us of your allocation so that we may revert to RBC Dexia Investor Services Bank SA our custodian bank to expect your subscription and application forms.

PANTERA IGS FUND - BLOOMBERG NEWS: FED'S EASY MONEY HELPS EUROPEAN BANKS REFINANCE

With the rise of inflationary pressures from rising commodity prices as well as the weakening of the euro and the dollar against other world currencies, the Pantera IGS Fund can perform as a hedge against rising interest rates and negative bond yields for fixed income and cash investments. Pantera is an EMTN trading fund that makes a profit on each EMTN transaction using a distributorship model for the securities, not an investment model, and does not take a long position in EMTNs or bonds.

FIXED INCOME & RISING RATES: THE PANTERA IGS FUND AS A HEDGE AGAINST NEGATIVE INTEREST RATES

How's this for an investment opportunity: a guaranteed yield of 3.27 percent, with an enormous potential downside. As risky as that sounds, millions of investors are moving money into Treasury bonds as a "safe haven." In early September, the yield on the 30-year Treasury bond sank to a new low of 3.27 percent, while the 10-year note fell to 1.9 percent. If the inflation rate stays anywhere close to its current modest 3.6 percent pace, long-term investor…

THE RISKS LURKING IN "SAFE HAVEN" TREASURY BONDS

With the EU Debt Crisis Summit concluded, EU leaders have struck an accord to increase the European Financial Stability Facility Fund (EFSF) to €1 trillion or $1.4 trillion as well as for banks to write down their portion of the total €110 billion Greek bonds that are on their balance sheets. This agreement has created new confidence in the banking and financial system, with bank stocks up tremendously so far today.

EU SUMMIT ACCORD SHOULD LEAD TO INCREASED BANK EMTN ISSUANCES