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For more information on Managed Futures, please review the following research and analysis provided by some of the most authoritative voices in the industry:

Interest in commodities is no fad, says Credit Suisse
James Langton – Investment Executive
March 27, 2006

Alternative views on alternatives
Pierre Saint-Laurent – Advisor’s Edge Report
December 2005

Managed futures funds prove better bet than stocks
Pratima Desai - Reuters
April 22, 2005

Investors still demand principal protection
Steven Lamb – Advisor.ca
March 2005

American author hot on commodities
Art Melo - Advisor.ca
February 14, 2005

Three’s not a crowd at Tricycle: When asset managers become active managers
(Tricycle, un ménage à trois qui roule bien : Quand les gestionnaires d’actifs deviennent des gestionnaires actifs)
Yan Barcelo - Finance et Investissement
February 2005

Tricycle launches Wheat Board note
Advisor.ca
November 10, 2004

Tricycle launches newest managed futures note
Investment Executive
November 9, 2004

Assets in principal-protected notes triple in three years
Investment Executive
Dwarka Lakhan - Mid-October 2004

Here's what makes currency market run
The Globe and Mail
Bruce Little - October 4, 2004

New guarantees: Principal protected notes
Good Times
Olev Edur - October 2004


The blending of alternatives: Adding CTAs to a portfolio of hedge funds
AIMA Journal
Kristy L. Sott - September 2004

Diversification for the future
CanHedge
Heidi Staseson - August 24, 2004


Managed futures: The right type of risk
National Post
Levi Folk - June 28, 2004

Hedge Row: CTA sector may be worth another look
Financial Times - June 7, 2004

The benefits of managed futures - 2004 update
Center for International Securities and Derivatives Markets

Trying to turn risk into a safety net
The New York Times - May 16, 2004

Managed futures can save your tail
KV1 Asset Management LLP
Steven Koomar - April 2004


Wheat Board selling notes to retail investors
The Toronto Star - November 13, 2003

Investing in commodities through mutual funds
Investment Executive, September 2003

Stocks, bonds and futures
MAR, August 2003

Managed Futures: Portfolio diversification opportunities
Chicago Board of Trade, 2003

Extracting inherent value from managed futures
MAR, March 2003





CWB Managed Futures Notes are only offered for sale in the provinces and territories of Canada.

CWB Managed Futures Notes are only offered for sale in those jurisdictions where they may be lawfully offered for sale and therein only by persons permitted to sell such securities.
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