The Research Gateway is a collaborative platform where investors can pool their resources to purchase operational risk assessments of specific hedge funds from a research specialist. Investors place bids on proposed assessment projects, and once total bids reach the buyout price, the project is validated and the research is conducted. This allows small investors access to in-depth research at discounted prices by sharing costs with other bidders. Members receive weekly updates on active projects and can modify or cancel bids as needed. Registration is free and provides access to the bidding platform and current project library.

1. The Research Gateway powered by Hedge Fund Appraisal An investor-led platform Learn how it works

2. Investors’ challenges Investors have realized that they cannot get access to an investment strategy without being exposed to the risks linked to its implementation Assessing those non-investment risks requires specific competencies and extra resources The additional costs have to be paid out of already reduced fees Access to information can be challenging for small investors

3. The Research Gateway A collaborative platform where investors come together to buy research on specific hedge funds

4. The Gateway’s plus Get comprehensive appraisal reports on specific hedge funds prepared by a leading specialist in non-investment risks analysis Buy appraisal reports at a fraction of their prices by sharing the costs with other investors Pay the right price. You decide how much Get access to enhanced information by joining forces with others Manage your research budget

5. Registration Becoming a member is free of charge Complete the Registration Form Send back the form by email You are ready to go !!

6. What do I bid for? On the Research Gateway, you place bids on appraisal projects related to specific hedge funds The appraisal project is a thorough review and assessment of the “non-investment” risks present at a hedge fund (also known as operational risks) The objective of the project is to identify areas of vulnerability which may lead to the occurrence of a low probability high impact event

7. How do I bid? On the Gateway, you place bids on appraisal projects* Open the Bid Form, list the funds you are interested in and the level of your bids. Each fund represents a project. Place bids on new or existing projects on the Gateway Modify or cancel your bids anytime until your appraisal projects are validated using the Bid Form The minimum bid is USD 1’000 * See a full description of our appraisal process at www.hedgefundappraisal.com

9. The activities from the past week: new funds, appraisal projects validated, evolution of the projects’ bids

11. Project Library Appraisal project reports are kept in our Project Library until their 6 month anniversary. Reports from the library are available at the unique price of $1’500

12. Register Now! Registration is free and will give you access to the current projects on the Gateway. The more users on the gateway, the more efficient it will become. Spread the word. Contact details: By email: researchgateway@hedgefundappraisal.com By phone: +41 22 722 06 47