Ramius and State Street Global Advisors Plan Managed Futures Fund Relationship

Today Ramius LLC (“Ramius”), the global investment arm of Cowen Group, Inc. (NASDAQ:COWN), filed a proxy statement with the U.S. Securities and Exchange Commission seeking shareholder approval to hire State Street Global Advisors (“State Street”), the asset management unit of State Street Corporation (NYSE:STT), to serve as sub-advisor to the Ramius Trading Strategies Managed Futures Fund (tickers:RTSIX/RTSRX) (the “Fund”). The Fund is an open-end mutual fund that gives investors exposure to a high-conviction portfolio of managed futures managers on the Ramius managed account platform. The Fund’s board has approved the appointment of State Street as sub-advisor, subject to approval of the Fund’s shareholders.

As part of the proposed sub-advisory relationship, State Street will hire the Fund’s existing portfolio management team, which will preserve the continuity of the management team from the Fund’s inception. As the primary advisor to the Fund, Ramius will continue to provide the Fund’s back-office platform, operational due diligence and marketing support.

“We are excited to collaborate with State Street,” said Michael Singer, chief executive officer of Ramius. “The proposed sub-advisory agreement will keep in place the Fund’s portfolio management team while also providing additional resources to expand its signature investment capabilities. We look forward to working with State Street to further our efforts in delivering high-quality liquid alternatives to under-served mass affluent investors.”

Ramius anticipates that the shareholder vote will take place in September 2014 and, if accepted, will become effective around mid-September 2014. After shareholder approval, the Fund is expected to be renamed the State Street/Ramius Managed Futures Strategy Fund.

“We are constantly looking for ways to bring high-quality, alternative-oriented products to investors, and we look forward to working together with Ramius to help ensure that the Fund’s success continues,” said Scott Powers, president and chief executive officer of State Street Global Advisors.

To bring its institutional managed futures strategies to the investing public, Ramius launched the Fund on September 13, 2011, and serves as its advisor. The Fund’s performance over the last 12 months through July 25, 2014, places it in the top quartile of Morningstar’s managed futures category.

About Ramius LLC

Ramius is an alternative investment platform offering innovative products and solutions across the liquidity spectrum to institutional and private clients. Founded in 1994, the firm offers investors access to strategies to meet their unique needs including small-cap activism, healthcare royalties, customized solutions, event driven equity, real estate, long/short credit and managed futures. Ramius attracts talented in-house and affiliated investment teams and provides them with institutional infrastructure, proven sales and marketing and know how. The firm is committed to the success of its global investor base and invests a significant portion of firm capital alongside clients. Ramius manages $10.6 billion in assets as of May 1, 2014, and is part of the Cowen Group.

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together with its consolidated subsidiaries, provides alternative asset management, investment banking, research, and sales and trading services through its two business segments: Ramius and its affiliates make up the Company’s alternative investment segment, while Cowen and Company and its affiliates make up the Company’s broker-dealer segment. Ramius provides alternative asset management solutions to a global client base and manages a significant portion of Cowen’s proprietary capital. Cowen and Company and its affiliates offer industry focused investment banking for growth-oriented companies, domain knowledge-driven research and a sales and trading platform for institutional investors. Founded in 1918, the firm is headquartered in New York and has offices worldwide.

About State Street Global Advisors

State Street Global Advisors is the asset management business of State Street Corporation, one of the world’s leading providers of financial services to institutional investors, with a heritage dating back over two centuries. Backed by the strength and stability of the State Street organization, State Street Global Advisors makes continual investments in its asset management and client service platform, resulting in a client-focused, solutions-driven orientation. The firm’s investment culture is built on the experience and skill that each of its more than 400 investment professionals and over 2,400 employees around the world bring to every client relationship.

Important Disclosures:

You should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. For a prospectus and summary prospectus that contains this and other information about the Fund call 1.877.6RAMIUS (1.877.672.6487) or visit www.ramiusmutualfunds.com.Please read the prospectus and summary prospectus carefully prior to investing.