The Fund's investment objective is to maximize return on investment to unitholders while seeking to mitigate market risk and volatility by investing in an actively managed portfolio (the "Portfolio") of long and short positions in any one or a combination of equities, debt securities or other securities.

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The Portfolio consists of long/short positions in any one or a combination of equities, debt securities or other securities that seek to generate positive returns by selecting what Timelo Investment Management Inc. believes to be superior quality investments for long positions and inferior quality investments for short positions. The Portfolio's net exposure (long versus short) will vary depending upon the Timelo's view of macro economic and other factors.

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Timelo may also make selective use of derivatives and other securities in order to increase returns and/or to mitigate the downside risk of one or more of the Portfolio's investments.