The 53 Peaks General Fund is a non-diversified closed-end fund and invests in the common stocks of large companies that are selected for their long-term growth potential. The Fund will also hold long-term positions in high-quality municipal bonds. The Fund will also hold long-term positions in S&P index volatility using derivative instruments such as equity index futures and options. The Fund will seek to produce income using equity options, equity index futures and options, and commodity futures and options. The income from these short-term positions will be used to purchase additional common stocks and municipal bonds for the Fund. The Fund will use leverage at times using margin, futures, and options. The Fund will also advantageously employ hedges based on a “top-down” macroeconomic outlook using equity index futures and options.