Re: Management Agreement Renewal

Exhibit 10.38

June 5, 2008

Avant Capital Management L.P.
0000 Xxxxx Xxxx Xxxxxxx
Xxxxx 0000
Xxxxxxx, Xxxxx 00000

Attention: Mr. Brick Diemer

Re:  Management Agreement Renewal

Dear Xx. Xxxxxx:

We are writing with respect to your management agreement concerning the commodity pool to which reference is made below (the “Management Agreement”). We are extending the term of the Management Agreement through June 30, 2009 and all other provisions of the Management Agreement will remain unchanged.

	•		CTA CAPITAL LLC
	•		Citigroup Emerging CTA Portfolio L.P.
	•		CMF Avant Master Fund L.P.
	•		Citigroup Diversified Futures Fund L.P.
	•		Aurora III
	•		Citigroup Energy Advisors Portfolio L.P.

Please acknowledge receipt of this modification by signing one copy of this letter and returning it to the attention of Xx. Xxxxxxxx Xxxxx at the address above or fax to 000-000-0000. If you have any questions I can be reached at 000-000-0000.

Very truly yours, CITIGROUP MANAGED FUTURES LLC
By:	/s/ Xxxxxxxx Xxxxx
	Xxxxxxxx Xxxxx
	Chief Financial Officer & Director
AVANT CAPITAL MANAGEMENT L.P.
By:	/s/ Xxxxx Xxxxxx
	Print Name:	Xxxxx Xxxxxx

XX/sr