- Zest Trading is an investment firm established in 2013 that offers managed account services targeting above average returns through foreign exchange and other markets. - The Phoenix strategy combines short-term and medium-term discretionary manual foreign exchange trading approaches using technical and fundamental analysis. It aims to perform across different market environments. - The minimum investment is $100,000 USD with a 2% annual management fee and 30% performance fee over the high water mark. Daily account statements provide transparency and there are no entry or exit fees.

1. Phoenix
November, 2016

2. Third Party Verification
Sharpe Ratio (3 Month T-Bill)
Sortino Ratio (3 Month T-Bill)
Compound ROR
Average Winning Month
Average Losing Month
Max Gain
Max Loss
Last Month
Growth of $100,000 assumes the reinvestment of all profits, are net of volume fees and gross of performance fees. 3 Month ROR
Year To Date
12 Month ROR
36 Month ROR
Compound ROR
Winning Months (%)
Total Return
Sterling Ratio
Calmar Ratio
Skewness
Kurtosis
Correlation vs S&P 500
Correlation vs DJ/CS MF
Standard Deviation (monthly)
Downside Deviation
Inception Date: November, 2014
Returns are net of volume fees and gross of performance fees Website: www.ZestTrading.com
Phone: +41 435 081 071
Email: Invest@ZestTrading.com
Skype: Zest.Trading
*Yearly returns are compounded.
*Since Inception Returns are caluculated using compounded returns while YTD, 3 month, 6 month and 1 year are calculated using non-compounded returns.
15.31% 3.70% 7.71% 18.99% 37.75%
YTD 3 Months 6 Months 1 Year Since Inception
4.51 3.26 7.92
2.12 9.762.37 2.05 5.51 1.56
2014
1.03 -10.402015 4.28 -6.87 1.82 4.03 3.11
1.09 0.29 2.32 16.29
Dec Year
2016 3.01 3.18 2.86 -1.45 2.47 0.35 1.19
Jun Jul Aug Sep Oct NovJan Feb Mar Apr May
-2.33
6.08
-0.15
-0.03
3.48
2.56
0.34
17.37
87.50
37.75
1.09
1.67
5.51
-10.40
2.32
3.74
16.29
20.61
FX Blue
1.40
1.82
1.34
2.50
-6.24
2014 2015 2016
7.77% 10.61% 15.31%
$100,000.00
$105,000.00
$110,000.00
$115,000.00
$120,000.00
$125,000.00
$130,000.00
$135,000.00
$140,000.00
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Phoenix - Growth of $100,000 Yearly Fund Performance
Risk & Performance Metrics
Return Statistics
-12.00%
-10.00%
-8.00%
-6.00%
-4.00%
-2.00%
0.00%
2.00%
4.00%
6.00%
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Apr-16
May-16
Jun-16
Jul-16
Aug-16
Sep-16
Oct-16
Risk Statistics
Phoenix - Gross Monthly Returns
Investment Summary
Monthly Performance
Gross Returns
Phoenix
November, 2016

3. About Zest Phoenix Strategy Summary
Formed in 2013, Zest Trading was created to fill a clear market need for a
professional bridge between high net worth individuals, institutional investors
and high yield traders. Established with the intention to deliver a true sense of
partnership, Zest Trading offers our clients risk management overview, market
insight and performance monitoring. We offer a managed account service to
high net worth Individuals, who target above average returns on their
investments, whilst maintaining a risk managed environment that supports
both growth and sustainability.
Our primary focuses are the Margin and physical Foreign Exchange markets.
With more than 25 years of experience trading Foreign exchange, our traders
have seen both crisis and prosperity take their toll on the global currency
markets. This has helped them to develop the market overview which they use
to their benefit every trading day.
Zest Trading has recently extended our trading to additional asset classes such
as: Commodities, equities and futures. We believe that adding additional asset
classes will offer complimentary services to our clients.
At Zest Trading, our goal is to create long term unrivalled value for our
customers experience working the foreign exchange desk within the banking
industry. Previous experience trading and risk management make the team well
equipped to manage the investment process.
The Phoenix trading strategy is a combination of 2 discretionary manual
strategies; one targeting short term trading opportunities and the other
targeting medium term price movements (3+hrs). To achieve this, the manager
employs a systematic approach, designed to perform across diverse market
environments. The process combines three decision making tools: a Systematic
Technical Strategy, a Systematic Fundamental Strategy and a Market
Information Strategy.
During periods of higher volatility, the Systematic Technical Strategy analyzes
chart patterns across multiple time frames, whereby shorter-term patters are
evaluated using a series of proprietary trading algorithms. The Systematic
Fundamental Strategy is employed during periods of lower volatility and
analyzes central bank policy and action, global and regional economic outlooks
and general market sentiment to reflect the market views on the relative
attractiveness of currencies versus the US dollar thereby realizing the inherent
benefits of the trade. The Market Information Strategy leverages the experience
and global network of the trading team to understand the behavior of other
market participants to reduce time in the market in-turn reducing exposure to
risk.
Once a trade is placed, the overall position size (leverage) and appropriate stop
loss and take profit levels are decided dependent on earlier proprietary analysis.
Exits are based upon statistical probabilities with an element of subjectivity
based upon the experience of the trading team. In most cases, scaling out of
positions is the method used.
The Phoenix strategy offers proprietary risk management in the strategic
application of technical analysis and uses fixed stops to limit downside risk. The
stop loss orders may be triggered by time lapse, price or volatility and are
maintained on all positions as all times while the portfolio is exposed.
Investment Team
Key Notes
The Phoenix investment team is based in Canada and has been trading across
multiple asset classes since 1999. The trading team has wide experience in a
variety of financial markets and trading methods. Since 2012, the team has
focused on the currency (Forex) market and manages assets of funds, family
offices, high net worth individuals and institutions.
The trading team actively manages alpha driven portfolios of G10 currencies, as
well as a number of other complex hedging programs and strategies. On an
advisory basis to external investment funds and vehicles, the trading team
provides fundamental currency analysis that is evaluated to a high degree of
technical analysis with the focus on global market trends.
The trading team is a registered member of the Chartered Institute of Securities
and Investments in the United Kingdom with further training at the Canadian
Securities Institute.
Fee Schedule
 Minimum Investment: $100,000 USD
 Performance Fee: 30% of monthly profits
High Watermark Policy
 Management Fee: 2% per annum, paid monthly
Assets
Assets are held in the client’s name at the execution and clearing broker.
Performance Fees Based on Results
Performance is the key to the client relationship and our trading results are a
testimony to our success. We do not take a performance fee if our strategies are
not creating positive results.
Daily Statements
Clients have access to daily and Monthly position statements for full
transparency of their investment.
No Entry or Exit Fees
Phoenix
November, 2016

4. Company Zest Trading Limited
Phone: +41 435 081 071
Email: Invest@ZestTrading.com
Website: www.ZestTrading.com
Skype: Zest.Trading
DISCLAIMER
Investing in the foreign exchange (Forex) market, alternative investments, and other leveraged asset classes carries a high level of risk, and may not be suitable for all
types of investors. Before deciding to invest in any type of alternative investment, you should carefully consider your investment objectives, length of investment and risk
appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to
lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor, who is familiar with these types
of trading if you have any doubts. Trading in these markets is speculative and may involve loss of principal; therefore funds placed under management should be risk
capital funds that if lost will not significantly affect one’s personal or financial well being. This is not a solicitation to invest and you should carefully consider your financial
condition as to the suitability to your situation prior to making any investment or entering into any transaction. As an example, a margin deposit of $2,000 can control a
market value of approximately $100,000. A relatively small market movement will have a proportionately larger impact on the funds you have deposited or will have to
deposit; this may work against you as well as for you. We assume no responsibility for errors or inaccuracies in these materials. We do not warrant the accuracy or
completeness of the information, text or other items contained within these materials. We shall not be liable for any damages, including any loss that may result from
these materials. Any opinions, news, research, analyses, prices, or other information which may be contained on this document is provided as general market
commentary, and does not constitute investment advice. The authors shall not accept liability for any loss or damage, including without limitation to, any loss of profit,
which may arise directly or indirectly from use of reliance on such information. All trades, patterns, charts, systems, etc., discussed in this document are for illustrative
purposes only and not to be construed as specific advisory recommendations.
In some cases, managed forex and commodity accounts are subject to substantial charges for management and advisory fees. You should therefore carefully study all
provided disclosure documents and forex and commodity interest trading before participating in any capacity, including the description of the principal risk factors
involved in this type of an alternative investment. Before you participate in an alternative investment you should inquire about any rules relevant to your particular
contemplated transactions and ask the firm with which you intend to trade for details about the types of redress available in both your local and other relevant
jurisdictions. Account discrepancies often occur when tracking performance. These can sometimes vary significantly from one brokerage to another, based on the broker’s
technical structure, the underlying data feed the brokerage uses, how competitive their pricing is, their server time, and the commissions charged. All risk and
discrepancies are clearly identified in each of the program’s specific disclosure document. It should be strongly noted that past performance is never indicative of future
results.