This material is provided for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any security or investment strategy. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal. Quantitative trading strategies are subject to significant risks including, but not limited to, market risk, liquidity risk, model risk, technology risk, and operational risk. Returns may be volatile and investors may lose some or all of their invested capital. The information contained herein is based on sources believed to be reliable, but no representation or warranty, express or implied, is made as to its accuracy or completeness. This is not investment advice and should not be relied upon as the basis for any investment decision.