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RISK DISCLOSURE STATEMENT

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IF YOU WOULD LIKE TO VIEW THE FRONTIER FUND PROSPECTUS, IN ITS ENTIRETY, PLEASE CLICK HERE. To obtain a hard copy of the Prospectus, please call your financial advisor. Please note that the Post-Effective Amendment No. 2 to the Registration Statement for The Frontier Fund has an effective date of April 30, 2011.

Please note this offering is made only through FINRA members, who must prominently display their names to potential investors.

YOU SHOULD CAREFULLY CONSIDER WHETHER YOUR FINANCIAL CONDITION PERMITS YOU TO PARTICIPATE IN A COMMODITY POOL. IN SO DOING, YOU SHOULD BE AWARE THAT FUTURES AND OPTIONS TRADING CAN QUICKLY LEAD TO LARGE LOSSES, AS WELL AS GAINS. SUCH TRADING LOSSES CAN SHARPLY REDUCE THE NET ASSET VALUE OF THE POOL, AND CONSEQUENTLY, THE VALUE OF YOUR INTEREST IN THE POOL. IN ADDITION, RESTRICTIONS ON REDEMPTIONS MAY AFFECT YOUR ABILITY TO WITHDRAW YOUR PARTICIPATION IN THE POOL.

IN SOME CASES, COMMODITY POOLS MAY BE SUBJECT TO SUBSTANTIAL CHARGES FOR MANAGEMENT, ADVISORY AND BROKERAGE FEES. IT MAY BE NECESSARY FOR THOSE POOLS THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS. THE PROSPECTUS OF THE FRONTIER FUND CONTAINS A DESCRIPTION OF THE PRINCIPAL RISK FACTORS, EACH EXPENSE TO BE CHARGED TO THE FRONTIER FUND AND A STATEMENT OF THE AMOUNT, AS A PERCENTAGE RETURN AND DOLLAR AMOUNT, NECESSARY TO BREAK-EVEN, THAT IS, TO RECOVER THE AMOUNT OF YOUR INITIAL INVESTMENT.

THE REGULATIONS OF THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") REQUIRE THAT PROSPECTIVE INVESTORS RECEIVE A DISCLOSURE DOCUMENT WHEN THEY ARE SOLICITED TO INVEST FUNDS IN A COMMODITY POOL AND THAT CERTAIN RISK FACTORS BE HIGHLIGHTED. THIS DOCUMENT IS READILY ACCESSIBLE AT THIS SITE AND FROM THE FINANCIAL INDUSTRY REGULATORY AUTHORITY ("FINRA") MEMBERS THAT ARE SELLING AGENTS OF THE FRONTIER FUND. THIS BRIEF STATEMENT CANNOT DISCLOSE ALL OF THE RISKS AND OTHER FACTORS NECESSARY TO EVALUATE YOUR PARTICIPATION IN THE FRONTIER FUND. THEREFORE, YOU SHOULD PROCEED DIRECTLY TO THE PROSPECTUS AND STUDY IT CAREFULLY TO DETERMINE WHETHER SUCH TRADING IS APPROPRIATE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. YOU ARE ENCOURAGED TO ACCESS THE PROSPECTUS BY CLICKING ON THE ABOVE LINK. YOU WILL NOT INCUR ANY ADDITIONAL CHARGES BY ACCESSING THE PROSPECTUS. YOU MAY ALSO REQUEST DELIVERY OF A HARD COPY OF THE PROSPECTUS, WHICH ALSO WILL BE PROVIDED TO YOU AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY FRONTIER FUND SERIES, NOR ON THE ADEQUACY OR ACCURACY OF THE PROSPECTUS.

PLEASE ACKNOWLEDGE YOUR UNDERSTANDING OF THIS IMPORTANT STATEMENT.

****** TERMS AND CONDITIONS ******

In order to use this site, you must accept the Terms and Conditions ("T&Cs") of use of this website. Click here to view the T&Cs. (Please review these T&Cs carefully).

The RDS and T&Cs are accepted by selecting the "I ACCEPT AND ACKNOWLEDGE" button below. Acceptance by any representative of an entity is acceptance by that entity. By selecting the "I ACCEPT AND ACKNOWLEDGE" button below or by otherwise accessing this site, the user or representative acknowledges that he or she has read these RDS and T&Cs. If you do not agree with these RDS and T&Cs, please select the "I DO NOT ACCEPT" button below. If the "I DO NOT ACCEPT" button is selected, further entry to the website will not be permitted. If you review the Prospectus, you will still need to accept or decline the T&Cs before you can gain access to the site.

We reserve the right to amend this RDS and the T&Cs at any time. These T&Cs were last modified on May 23, 2008.



Glossary

Annualized Rate of Return is the rate of return based on 12 consecutive months of performance, compounded monthly. The annualized rate of return (AROR) for any given period is calculated using the following formula:

AROR Formula 

Annualized Standard Deviation measures the degree of variation of monthly returns around the mean (average) return. The higher the volatility of the investment returns, the higher the annualized standard deviation will be.

Asset Classes are broad categories of investments such as stocks, bonds and alternatives, including managed futures and real estate. Each asset class offers a distinct source of return and risk related to its basic function. In the case of stocks, an investor receives earnings potential in exchange for providing equity capital to companies.

Correlation is a measure of the degree to which the value of different investment types move in the same direction; if they perform independently of one another, they are non-correlated, such as managed futures vs. stocks and bonds.

Correlation Coefficient, r, indicates both the strength and direction of the relationship between the independent and dependent variables. Values of r range from -1.0, a strong negative relationship, to +1.0, a strong positive relationship. When r=0, there is no relationship between variables x and y.

Diversification is the common sense practice of not putting all your eggs in one basket. Diversifying your investments across different asset classes can reduce your risk, thereby providing a more favorable risk-adjusted rate of return. Furthermore, investments within an asset class should also be diversified. For example, it is wise to invest your stock portfolio in different industries and a variety of companies. A managed futures portfolio can be similarly diversified among different trading advisors, among markets such as currencies, oil, corn, etc., and among trading styles, such as discretionary or systematic.

Managed Futures are a unique asset class, driven by the investment decisions of professional managers, known as Commodity Trading Advisors, or CTAs. These CTAs manage client assets using global markets (such as currencies, energy, grains, etc.) as an investment medium. They take short or long positions based on expected profit potential.

Maximum Drawdown, also known as “Worst Historical Loss,” is the measure of risk that that illustrates the largest peak-to-valley decline, based on monthly rates of return, during a given time period.

The Barclays Capital U.S. Aggregate Bond Index® covers the USD-denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities. The index includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS, and CMBS sectors. The U.S. Aggregate Index is a component of the U.S. Universal Index in its entirety. The index was created in 1986, with index history backfilled to January 1, 1976. Source: barclayhedge.com.

The Barclay BTOP50 Index® seeks to replicate the overall composition of the managed futures industry with regard to trading style and overall market exposure. The BTOP50 employs a top-down approach in selecting its constituents. The largest investable trading advisor programs, as measured by assets under management, are selected for inclusion in the BTOP50. In each calendar year the selected trading advisors represent, in aggregate, no less than 50% of the investable assets of the Barclay CTA Universe. To be included in the BTOP50, the following criteria must be met:

Program must have at least two years of trading activity.

  • Program’s advisor must have at least three years of operating history.
  • The BTOP50’s portfolio will be equally weighted among the selected programs at the beginning of each calendar year and will be rebalanced annually

The CASAM CISDM CTA Asset Weighted Index reflects the dollar-weighted performance of Commodity Trading Advisors (CTAs) reporting to the CASAM CISDM Database. CTAs trade a wide variety of OTC and exchange-traded forward, futures and options markets (e.g. , physicals, currency, financial), based on a wide variety of trading models. In order to be included in the Asset Weighted Index universe, a CTA must have at least $500,000 under management and at least a 12-month track record. The index goes back historically to January 1980 and was discontinued in October 2010. Source: casamhedge.com.

The Dow Jones Credit Suisse Long/Short Equity Hedge Fund IndexSM is a subset of the Dow Jones Credit Suisse Hedge Fund IndexSM that measures the aggregate performance of long/short equity funds. The index uses the Credit Suisse Hedge Fund Database (formerly known as the "Credit Suisse/Tremont Hedge Fund Database"), which tracks over 5,000 funds and consists only of funds with a minimum of US$50 million under management, a 12-month track record, and audited financial statements. The index is calculated and rebalanced on a monthly basis, and reflects performance net of all hedge fund component performance fees and expenses. Source: hedgeindex.com.

The Dow Jones Credit Suisse Hedge Fund IndexSM is compiled by Credit Suisse Hedge Index LLC and CME Group Index Services LLC. It is an asset-weighted hedge fund index and includes only funds, as opposed to separate accounts. The index uses the Credit Suisse Hedge Fund Database (formerly known as the "Credit Suisse/Tremont Hedge Fund Database"), which tracks over 5,000 funds and consists only of funds with a minimum of US$50 million under management, a 12-month track record, and audited financial statements. The index is calculated and rebalanced on a monthly basis, and reflects performance net of all hedge fund component performance fees and expenses. Source: hedgeindex.com.

The Dow Jones® Wilshire REIT Index provides measures of real estate securities that serve as proxies for direct real estate investing. To be included in the real estate indices, an issuer must meet all of the following criteria:

  • The company must be both an equity owner and operator of commercial and/or residential real estate. Security types excluded from these more focused indices include mortgage REITs, net-lease REITs, real estate finance companies, mortgage brokers and bankers, commercial and residential real estate brokers and estate agents, home builders, large landowners and subdividers of unimproved land, hybrid REITS, and timber REITs, as well as companies that have more than 25% of their assets in direct mortgage investments.
  • The company must have a total market capitalization of at least $200 million at the time of its inclusion.
  • At least 75% of the company’s total revenue must be derived from the ownership and operation of real estate assets.
  • The liquidity of the company’s stock must be commensurate with that of other institutionally held real estate securities.

Source: djindexes.com.

The ICE Futures U.S. Dollar Index (USDX®) is a leading benchmark for the international value of the U.S. dollar and the world’s most widely recognized, publicly traded currency Index. Source: theice.com.

The MSCI® EAFE® Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the US & Canada. As of June 2007 the MSCI EAFE Index consisted of the following 21 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. Source: mscibarra.com.

The S&P 500® Total Return Index is widely regarded as the best single gauge of the U.S. equities market. This world-renowned Index includes 500 leading companies in leading industries of the U.S. economy. Although the S&P 500 focuses on the large cap segment of the market, with approximately 75% coverage of U.S. equities, it is also an ideal proxy for the total market. Total return provides investors with a price-plus-gross cash dividend return. Gross cash dividends are applied on the ex-date of the dividend. Source: standardandpoors.com.

The S&P GSCI® Total Return Index is widely recognized as a leading measure of general price movements and inflation in the world economy. It provides investors with a reliable and publicly available benchmark for investment performance in the commodity markets, and is designed to be a "tradable" index. The index is calculated primarily on a world production-weighted basis and is comprised of the principal physical commodities that are the subject of active, liquid futures markets. Source: standardandpoors.com.

The Thomson Reuters/Jefferies CRB Total Return Index® is designed to provide timely and accurate representation of a long-only, broadly diversified investment in commodities through a transparent and disciplined calculation methodology. The history of the Thomson RJ/CRB TRI dates back to 1957, when the Commodity Research Bureau constructed an index comprised of 28 commodities that made its inaugural appearance in the 1958 CRB Commodity Year Book. Since then, as commodity markets have evolved, the index has undergone periodic updates to remain a leading benchmark for the performance of commodities as an asset class. The index was renamed the in 2005 when it underwent its tenth and most recent revision—as the collaborative effort of Reuters, the global information company, and Jefferies—to maintain its representation of modern commodity markets. Source: jefferies.com.

Volatility is a measure of fluctuation in the value of an asset or investment. Lower volatility improves the stability and lowers the risk of an investment portfolio. Including managed futures as part of a diversified portfolio helps to stabilize the overall ups and downs of your investments.