1. TSA - Time Series Analytics
Managed Account - Pleiades Program December 2011
Unaudited Return & Performance Data
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD % Lev.
2005 -3.28 1.90 2.21 0.11 3.85 1.41 3.60 4.54 4.40 3.11 -0.68 6.87 28.04 1.17
2006 0.67 2.14 5.88 4.80 1.08 3.48 1.00 0.41 4.00 1.47 1.73 -0.32 26.34 1.09
2007 5.23 6.68 6.76 0.48 -5.13 1.97 3.43 6.28 6.49 5.15 7.79 3.54 48.67 1.08
2008 -1.02 -0.48 9.19 -0.19 1.40 -0.35 1.49 6.67 3.51 30.28 -7.98 -3.39 39.13 1.15
2009 14.08 3.80 8.24 3.95 -3.27 7.86 3.30 -3.14 -1.43 6.44 -4.93 -2.50 32.40 1.09
2010 0.46 2.65 4.27 8.28 4.93 -0.33 -2.22 -2.63 -1.34 2.39 -0.32 -1.54 14.60 1.12
2011 -0.87 0.97 7.54 7.69 -5.31 1.40 3.92 -6.18 2.04 -3.58 -4.00 -3.16 0.46 1.07
2012
Notes: All results exclude fees Since inception 189.64 1.11
Performance from 01.2005 to 11.2011 Program Facts Historical Analysis
Components: FX (G10) 12 Month Rolling Return 0.46%
48,67%
Instruments Traded: Spot Annualized Volatility 15.62%
39,13%
Investment Process: Systematic
32,40% 12 Month Rolling Sharpe 0.03
28,04% 26,34% Average Leverage: 1.11 Ratio
Broker: ADS Securities UAE Max. Draw Down on -6.00%
14,60% Cumulative Index
Account Type: Managed Account
Min. Account Size: € 1.000.000 Winning Months 57
0,46% Losing Months 27
Mgmt / Performance Fee: 2/20
2005 2006 2007 2008 2009 2010 2011 High Watermark: Yes Largest Monthly Gain 30.28%
Strategy AUM: € 0 Largest Monthly Loss -7.98%
Round Turns/Month 455
(average)
Investment Strategy
Pleiades FX program seeks risk-adjusted absolute returns (pure Alpha) which are uncorrelated to other investment strategies,
by trading in the most liquid and transparent Currency Markets (G10) only. It is a robust, high capacity investment vehicle, based
entirely on systematic trading algorithms. The underlying strategy is momentum driven, based on a ‘in house’, mathematically
built consolidation indicator which determines direction and market entry and exit levels. It is blended with a proprietary trend
following system.
Approach & Style Investment Opportunities
TSA uses algorithm models for performance generation. It is a fully TSA offers managed accounts at the
automated, systematic trading that relies solely on the price of the choice of the client. Managed account
underlying asset as the only input for the model. TSA successfully programs are:
runs the following models: PLEIADES ∞ intraday FX*
• 4tT ∞ long term model that is also used on a hourly ANDROMEDA ∞ intraday FX*
analysis
ORION ∞ hourly FX*
• FSD ∞ intraday market data analysis centered around price
ranges that define short term consolidation AQUARIUS ∞ daily FX and gold**
• PPCFO ∞ intraday market data analysis used by this trend MIDAS ∞ hourly spot gold
following tool centered around moving averages HEPHAESTOS ∞ hourly gold & silver
The models are built around a mathematical formula that describes * EUR/USD - EUR/JPY - EUR/GBP - USD/JPY - USD/CH -
the notion of “consolidation” (a side ways price pattern/congestion) GBP/USD - USD/CAD - NZD/USD - AUD/USD - GBP/JPY -
and tries to detect this phenomenom in an early stage. TSA has AUD/JPY
** EUR/USD - USD/JPY - USD/CHF - USD/CAD - USD/SEK -
never optimized any of its models. USD/NOK - GBP/USD - AUD/USD - NZD/USD
Past performance is not indicative of future results. By subscribing to this service, you confirm that you are aware of the risk of substantial losses that can occur in trading
and that neither TSA-Europe nor any other party involved to set up your investment business with TSA-Europe can be held responsible.

2. TSA - Time Series Analytics
Managed Account - Pleiades Program December 2011
Key Benefits and Strengths
• Fully automated, systematic market data analysis without any human intervention in the
decision making process.
• Managed account: the client’s money stays in an account in the client’s name and with that
100% in his/her control.
• Client has full investment transparency and can follow each trade live in his/her account.
• Client can close the account at any time while observing the procedure for ending the LPOA.
About TSA About Marc Verleysen: Founder & Money Manager
• Founded in 2005, headquartered in Belgium. • Born in 1960 in Belgium where he today lives. He
is married and has three children.
• Mid-size German bank buys TSA trading signals
since 2007. • He holds a Master in Applied Economics -
Corporate Management from EHSAL Brussels.
• Finished 3rd place out of 130 in the Lupus Alpha
Talent Hotel in 2008. • Over 20 years of trading experience at BACOB
Private Savings Bank, ABN Amro, SocGen and
• Co-founder of Pleiades Forex Fund after being
Fortis Bank.
elected by a London based money manager in
2009. Structure was wound up in 2011 as seeding • In 2003 he joined Dresdner Kleinwort Wasserstein
failed (underlying deal did not materialize). in Frankfurt, Germany to set up systematic
trading.
• In 2011, TSA joined forces with TMG Finance
Limited.
Special note to our investors/Manager Commentary
We think that events, whatever they are or wherever they happen, are totally irrelevant until the moment they start
affecting prices in the market. We will not pass a personal judgment on these events, we will only take note of the
change in market prices, analyze this and take appropriate action.
We analyze the markets in an automated, non emotional way, allowing repetition of the analysis. Automated,
repetitive analysis is done 24/5. Returns for investors must not depend on a human being with all his flaws, but on
a thoroughly tested system.
Although draw downs are part of the investment cycle, we are confident that the models are robust enough to
withstand changes in market circumstances and this rules out “optimization”.
Contact Details TMG Finance Limited
Representation Europe, Belgium
Business Developer: Michael Lauwers
Email: ml@tmg-finance.com
Tel: +32 (0)15 640 966
Representation Asia, Hong Kong
Business Developer: Tobi Doeringer
Email: td@tmg-finance.com
Tel: +852 31884095
TMG
FINANCE LIMITED
Past performance is not indicative of future results. By subscribing to this service, you confirm that you are aware of the risk of substantial losses that can occur in trading
and that neither TSA-Europe nor any other party involved to set up your investment business with TSA-Europe can be held responsible.