Curzon Alternative Investments
TRADED OPTIONS FUND
TARGETING HIGH
RETURNS FROM
TRADING OPTIONS
Charlie Goldsmith (Curzon Capital)
Frank Freeman
(Lewis Charles Securities)
“normal markets?”
For traditional Fund Managers history proves that it is
statistically very hard to outperform the markets.
This is even more true in recent time and will continue to be so.
GREECE – SOUTHERN EUROPE – IRELAND
KOREAN MISSILE – JAPAN – EGYPT - LIBYA
The Traded Options strategy doesn’t try to
outperform any markets, making it irrelevant
whether markets are rising or falling.
How has the strategy performed during this uncertain period?
TRADED OPTIONS FUND
We sell Options – so who buys?
 Every financial institution - banks, pensions and investment funds -
protect the value (”hedge”) of their investments by buying Options:
“An Option is a contract that gives the right, but not
the obligation, to buy (“Call Option”) or sell (“Put
Option”) a financial asset at a specific price within
a predetermined time period”
 Institutions purchase Options as insurance by paying a premium to
an ‘Options Writer’.
 Both parties hope to never exercise the Option, (make a claim),
which is why nearly 90% of all Options expire worthless.
 The Options Writer, is therefore statistically likely to make a profit
from the premiums collected through selling Options that then
expire worthless.
The Strategy:
 The Fund sells Options on the following underlying securities:
• FTSE 100 INDEX
• SELECTED FTSE 100 STOCKS
• GOLD
• CRUDE OIL (WTI)
• EURO v USD
• GBP v USD
 The Options written are typically short term (6-8 weeks) and in reality are
normally bought back at a profit, thereby reducing risk to the Fund.
 The securities written by the Traders are deliberately selected for their largely
uncorrelated movements. The ‘real’ risk of all these asset classes experiencing
rapid movements at the same time whilst technically possible is remote.
Non-directional investment:
The strategy is market-neutral or “non-directional”. It
does not matter which way the market moves. Provided the
asset price stays within the “Strangle” formed by the Put and
Call Options, the Trader will make a profit

The Trader collects a
‘premium’ from buyers of
both the Call & Put Options
that form the ‘Strangle’
strategy

For the duration of the
Option, provided the market
price remains within the red
tram lines of the Strangle,
the Trader will do nothing

If the market price moves
toward one of the red tram
lines, the Trader can adjust
the Strangle by writing new
Options & shifting the tram
lines to keep the market
price within the Strangle

When the Options expire the
Trader retains the premiums
and adds these to the Fund’s
account
The Traders:
 Lewis Charles Securities Ltd. are currently responsible for executing
the Fund’s trading strategy
 Based in the City of London, Principal Trader, Frank Freeman, has
developed the trading strategy with his team over 15 years
 The team have successfully used the strategy to provide an advisory
service to institutions, professional and sophisticated investors
 This trading strategy has been proven to generate small and
regular profits irrespective of
minimising the investment risk
market
conditions
whilst
 Lewis Charles Securities are highly regulated by the FSA and are
members of the London Stock Exchange.
Risks:
 As with any investment offering high returns, there is
also a risk of losses – which investors must be made
aware of.
 Should the underlying asset experience extremely rapid
price movements preventing the Trader from closing or
adjusting positions, large losses can be made
 To mitigate this risk the fund operates a hedged
overlay which protects the funds assets against
total loss.
 The Traded Options Fund should be considered for a
prudent part of any portfolio
Summary:
 The Fund sells (writes) options on a focused set of uncorrelated
asset classes, and assumes they will expire worthless
 The Fund aims to deliver returns of 30% - 40% p.a. irrespective
of whether markets are rising or falling
 Institutional trading model adapted for the retail market.
 The Traders have a long proven track record using this strategy.
 Fund audited by KPMG, and uses JP Morgan for subscriptions
 Accepted by most Life Offices & Trustees
 Unique IFA remuneration model – 20% uplift for FEIFA
Curzon Traded Options Fund
 For more information please contact:
or
34-36 Clarges Street
London, W1J 7EJ
+44(0) 207 355 2427
+44(0) 203 371 7688
 Fund Website: www.curzonalternatives.com
Important Information
This Presentation is based on but does not form part of the Traded Options Fund Information
Memorandum (the “IM”) and all terms not otherwise defined in this Presentation have the same
meaning as contained in the IM.
This Presentation MUST be read in conjunction with, and is subject to, the Risk Factors set out in the
IM, including, but not limited to, those included in that Section.
The returns shown are provided for illustrative purposes. They do not represent forecasts and are not
guaranteed. This Presentation does not constitute an offer or solicitation of an offer, nor shall it or any
part of its distribution, form the basis of or be relied upon in connection with any contract. Any and all
applications for subscription to the Traded Options Fund must only be made on the basis of and in
accordance with the IM.
This Presentation is only directed at persons who have sufficient experience and knowledge in matters
relating to investments. If you do not have such experience and knowledge you should not rely on it.
No representation or warranty, express or implied, is given by or on behalf of the issuers, Curzon
Alternative Investments Ltd, as to the accuracy or completeness of this Presentation, or the opinions
expressed within it. Curzon Alternative Investments Ltd accepts no liability for any such information
or opinions.
In issuing this Presentation, Curzon is acting for no other party. Curzon Alternative Investments Ltd is
not advising any other party and is not treating any other party as its customer in relation to this
information.
Curzon Alternative Investments Ltd are registered at 2 Reid St, Hamilton HM11, Bermuda
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