Felix Zulauf, born 1950, has worked in the financial markets and asset management for over 30 years. He started his investment career as a trader for a large Swiss Bank and received training in research and portfolio management thereafter with several leading investment banks in New York, Zurich and in Paris. Mr. Zulauf joined Union Bank of Switzerland (UBS), Zurich, in 1977 and held several positions over the years including managing global mutual funds, heading the institutional portfolio management unit and at the same time acting as the global strategist for the UBS Group. After two years with a medium-sized Financial Organization as a member of the executive board, he founded his wholly owned Zulauf Asset Management AG in 1990, allowing him to independently practice his own individual investment philosophy. In 2001, two of his colleagues, who worked with him for the last few years, became partners of the firm. Mr. Zulauf focuses on macro and strategic issues within the firm. ZAM manages European equities long/short and a long/short fund for natural resources and related equities worldwide. The primary goal for all mandates is to achieve decent absolute returns in bull- and bear markets. In the last few years he has only acted as advisor to his colleagues who run the funds. In spring of 2008, he came back as manager of a new global macro fund, Cronus Fund.