The investment seeks to provide investors with capital appreciation. The Advisor attempts to achieve its investment objective through the construction of twelve laddered portfolios of 20% buffer strategies (each a “20% Buffer Strategy”) that invest in exchange-traded FLEX Options linked to a U.S. large-cap equity index, such as the S&P 500 Index. Each 20% Buffer Strategy seeks to provide investors with returns (before fees, expenses and taxes) that match the price return of Index, up to a predetermined upside cap, while providing a buffer against the first 20% of Index losses, over a defined one-year period. It is non-diversified.