Kenneth Donald Fuller

EnTrustPermal Management (EPM) typically provides investment management services to clients through separately managed accounts (\"SMA\") and private investment funds. EPM allocates client assets among third party managers (\"Portfolio Managers\" ) that employ various strategies and that can invest or trade in a wide variety of securities and other instruments, including, but not limited to, equities and fixed income securities, currencies, commodities, futures contracts, options, and other derivative instruments. These allocations may be made to commingled products offered by the Portfolio Manager or in bespoke investment vehicles structured for EPM clients and managed by the Portfolio Manager (\"Special Purpose Funds\").EPM's Special Purpose Funds are typically only available to investment management clients of EPM. These refer to EnTrustPermal- sponsored products generally organized as offshore corporations (domiciled outside the US) or US limited partnerships. They include Offshore Private Funds sub-advised by EPM's affiliate, EnTrustPermal Ltd., US Private Funds in which EPM serves as investment manager and an EPM affiliate is the General Partner; and 1940-Act Registered Funds sponsored by Legg Mason in which EPM acts as investment advisor or sub-advisor to a Legg Mason SEC-registered advisor.EPM seeks to select individual managers that offer a variety of skills to further balance the funds' investment portfolios and to provide for the preservation of capital while maximizing opportunities for growth. EPM considers a number of factors in selecting managers, such as the manager's basic investment strategy and policies; reputation; prior performance; use of fundamental analysis and other analytical methods; use of leverage and other techniques; and trading expertise..EPM tends to focus on strategies that have depth and liquidity including, but not limited to the following: Equity Long / Short; Discretionary Global Macro; Systematic Global Macro; Fixed Income Trading; Event Driven; Relative Value Arbitrage; Fixed Income Arbitrage; Long Only Commodities; and Emerging Markets.