During a tough month for the equity markets the fund performed well. With a positive return of 0.80% for the month of September the year to the return comes to 1.34%. The best performing strategy by far was theCredit strategy. The volatility in this markets gives a lot of opportunities to our selection of managers. Next to this also Global Macro did a relatively good job. The CTA managers turned just into the red. Also our volatility manager and long short equity managers are struggling and loosing a little.