Chinook Capital Management, LLC

Chinook carefully selects investment managers who have proven leadership within their investment category by demonstrating the experience and disciplined investment process needed to deliver consistent performance. We continuously evaluate our existing funds and potential new managers in order to ensure the best chance of success for our clients. Key qualitative and quantitative evaluation criteria are shown below:

Quantitative Criteria		Qualitative Criteria
Time Horizon Analysis; 3, 5, 10 or 15 years * Performance history * Gross returns * Benchmark comparison * Consistency of performance Evaluation Criteria * Return differential relative to benchmark * Standard deviation (risk) * Sharpe ratio (risk adjusted return) * Information ratio * R2 (correlation) * Beta * Style analysis		Firm Specific Issues * Employee ownership * Assets under management * Fees Product Specific Issues * History * Size * Growth * Assets split (institutional vs. retail) Personnel Issues * Depth/tenure of research staff * Portfolio manager interviews * Product experience Investment Philosophy and Process * Clearly defined and achievable process * Purchase/sell discipline * Investment research