- The Chester Global Strategy Fund is a fund of hedge funds that seeks capital preservation, appreciation, and superior risk-adjusted returns with low correlation to equity and fixed income markets.
- In July 2008, the fund was down 4.77% month-to-date and had a net asset value of 94.32. Its largest strategies by allocation were multi-strategy, credit and distressed, and event-driven.
- Over its lifetime, the fund has averaged annual returns of 9.72% with lower volatility than equity benchmarks, as measured by standard deviation.
Eugenio Diaz Bonilla, Executive Director for Argentina and Haiti, Inter-American Development Bank
14th October 2008, International Food Policy Research Institute, Washington D.C.
For more information contact: emailus@marcusevans.com
Christian Menegatti who is the MD & Head of Global Economic Research at Roubini Global Economics shared her presentation entitled "Bracing for Balance Sheet Repair Mode: Pinpointing Growth Drivers amidst a Global Deleveraging Landscape" at the marcus evans Elite Summit.
Join the November 2014 Summit along with leading European family offices and global asset managers in an intimate environment for a focused discussion of key new drivers shaping wealth management strategies today.
For more information contact: emailus@marcusevans.com
1-Consistent returns above benchmark (+4% annual outperformance)
2-Very small volatility for an equity fund (-4% annual bellow benchmark)
3-Excellent relative performance throughout the financial crisis (2007-2011)
4- Stable investment philosophy all over 23 years
5-Unique and tested investment process developed by an experienced management team
6-Very high quality (ROE) and liquid concentrated portfolio
7-Defensive strategy: focus on "ensured growth" without leveraged or cyclical sectors
8-Portfolio valuation at historial minimum levels
9-Poor overlapping and low correlation with other fund managers
10-Complementary with other equity styles
The global economy is recovering, but confidence is extremely uneven across different regions, according to the OECD’s latest Economic Outlook. European governments must take greater action to ensure that the crisis in the euro area does not derail the recovery.
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Eugenio Diaz Bonilla, Executive Director for Argentina and Haiti, Inter-American Development Bank
14th October 2008, International Food Policy Research Institute, Washington D.C.
For more information contact: emailus@marcusevans.com
Christian Menegatti who is the MD & Head of Global Economic Research at Roubini Global Economics shared her presentation entitled "Bracing for Balance Sheet Repair Mode: Pinpointing Growth Drivers amidst a Global Deleveraging Landscape" at the marcus evans Elite Summit.
Join the November 2014 Summit along with leading European family offices and global asset managers in an intimate environment for a focused discussion of key new drivers shaping wealth management strategies today.
For more information contact: emailus@marcusevans.com
1-Consistent returns above benchmark (+4% annual outperformance)
2-Very small volatility for an equity fund (-4% annual bellow benchmark)
3-Excellent relative performance throughout the financial crisis (2007-2011)
4- Stable investment philosophy all over 23 years
5-Unique and tested investment process developed by an experienced management team
6-Very high quality (ROE) and liquid concentrated portfolio
7-Defensive strategy: focus on "ensured growth" without leveraged or cyclical sectors
8-Portfolio valuation at historial minimum levels
9-Poor overlapping and low correlation with other fund managers
10-Complementary with other equity styles
The global economy is recovering, but confidence is extremely uneven across different regions, according to the OECD’s latest Economic Outlook. European governments must take greater action to ensure that the crisis in the euro area does not derail the recovery.
the marketing shower: Randstad Rebrandingmarketmomenta
Four times a year you can plunge into the marketing shower to let a steaming hot marketing topic pour down on you. Last time Frans Cornelis sprinkled rebranding insights down on us.Visit http://marketing.vlerickalumni.com/ for more showers.
May 18, Special Breakfast Roundtable – Federico Rubli Kaiser, Banco de MexicoThe Paso del Norte Group
Thanks to PDN member, Dr. Robert W. (Bill) Gilmer, our members had the opportunity to hear directly from a top official of the Mexican equivalent of the U. S. Federal Reserve. In light of recent developments on both sides of the border and our organization’s new responsibilities, this is a timely and worthwhile presentation. You may especially want to note:
- Slide 9 which displays Public Debt and Fiscal Deficits as a Percent of GDP. Note how the U. S. compares to Mexico.
- Slides 27 – 29 which provide the economic outlook for Mexico.
Budgets among SMBs have been on the rise for the past few years, and in our recent 2H 2012 State of SMB IT report we found that they’ve reached their highest point during that time. Over the last year, budgets grew 13% worldwide and reached an average of $162,000 with EMEA clocking in at $151,000 on average.
To dig a little deeper, we spoke to over 900 IT pros to find out how they go about creating and managing their IT budget and where they plan to put their dollars in 2013. Results show that as investment in IT continues to grow, IT pros will most likely spend as follows:
• Invest close to 50% of average budget on new projects
• Regard hardware and software as a top priority for 2013 spend
• Continue to invest more in cloud-based services and mobile
This report highlights both worldwide findings as well as a breakout for Europe, Middle East and Africa (EMEA).
Rowena Crawford: NHS and social care funding: the outlook to 2021-22Nuffield Trust
In this slideshow, Rowena Crawford, Senior Research Economist at the Institute for Fiscal Studies, provides the outlook for NHS and social care funding over the next decade and examines the trade-off between English NHS spending and other public service spending during this period.
The slideshow is related to: NHS and social care funding: the outlook to 2021/22 (July 2012 ), an Institute for Fiscal Studies (IFS) report by Rowena Crawford and Carl Emmerson, funded by the Nuffield Trust. More information can be found on our website: www.nuffieldtrust.org.uk.
Rowena presented at the Nuffield Trust and Institute for Fiscal Studies event: NHS and social care funding: the outlook for the next decade.
Wisdom of crowds business intelligence market study findings overviewYellowfin
The latest edition – based on 859 responses from professionals with first-hand experience using vendor products and services – analyzes market place trends throughout 2011 and assess user perceptions towards BI for the coming year. The study also compares and ranks 17 of the world’s foremost BI vendors, their solution and associated services. Yellowfin achieved the equal highest overall ranking (4.57 out of five), as well as best outright score in the study’s “Emerging Business Intelligence Vendors” sub-group.
Yellowfin outscored traditional big name players, including Microsoft, IBM, SAP Business Objects, MicroStrategy, SAS Institute and Oracle. Yellowfin also outperformed other high profile vendors, including Information Builders, Actuate, Qliktech, Tibco Spotfire, Dimensional Insight, Arcplan, Pentaho and Jaspersoft.
Vendors are ranked on a five-point scale, across 33 different criteria, based on seven categories, including: Sales experience, value, quality and usefulness of product, quality of technical support, quality and value of consulting services, integrity and whether existing clients would recommend the vendor and its product to others.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
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[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
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1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
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Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
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Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
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A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Exploring Patterns of Connection with Social Dreaming
Chester Global Strategy Fund
1. July 2008
US Dollar Class A-1
10-12 Cork Street 55 East 52nd Street, 33rd Floor
London W1S 3NP New York, New York 10055 MTD: -4.77%
Phone: +44 207 534 9244 Phone: +1 212 319 6060 NAV: 94.32
Fax: +44 207 534 9245 Fax: +1 212 319 0450
Contact: Andres Piedrahita Email: andres@fgguk.com Benchmark 1: MSCI World Index (USD) Price Index
Contact: Andrew Smith Email: andrews@fgguk.com Benchmark 2: HFRI Fund of Funds Composite Index
The Chester Global Strategy Fund Limited (quot;Chesterquot;, or the quot;Fundquot;) is a fund of hedge funds that seeks to achieve capital preservation, long-term capital appreciation, and
superior risk-adjusted returns with low correlation to traditional equity and fixed income markets. Chester enables an investor to gain low volatility exposure to the
alternative asset management arena without relying on one strategy or manager. Chester invests with experienced managers who have long term track records, that employ
strict risk guidelines, and that have delivered strong returns over time. These managers have exceptional reputations and are typically leaders in their sector. Chester
currently invests with managers employing the following strategies: Macro, Long/Short Equities, Emerging Markets, Fixed Income Arbitrage, Quantitative Equities, Event-
Driven, Credit and Distressed, Multi-Strategy, Convertible Arbitrage, and Commodities Trading Advisors. Chester may leverage the equity of the Fund. Chester employs
constant qualitative, quantitative, and operational monitoring of all managers in the Fund.
*The monthly performance shown below represents the actual historical performance of Chester Global Strategy Fund Ltd. Class A-2 (“Chester”) after being adjusted to reflect
the deduction of all fees and expenses, including but not limited to the 1.15% annual management fee and 10% performance fee charged by Chester Global Strategy Fund Ltd.
Class A-1. Chester launched on March 1, 2003, and Class A-1 shares are offered as of March 1, 2008.
Growth of Initial $1000 Distribution of Returns
18
140%
16
120%
14
Cumulative Return
Monthly Periods
100% 12
80% 10
60% 8
40% 6
20% 4
0% 2
-20% 0 < -10%
-9 to -8
-7 to -6
-5 to -4
-3 to -2
-1 to 0
1 to 2
3 to 4
5 to 6
7 to 8
9 to 10
2003 2004 2005 2006 2007 2008
Chester Global Strategy Fund Limited (USD Class A-1)
MSCI World Index (USD) Price Index
HFRI Fund of Funds Composite Index Return Range (%)
Monthly Performance (%) Net of Fees and Expenses
Year Jan Feb Mar* Apr May Jun Jul Aug Sep Oct Nov Dec Year
2008 -3.32% 2.32% -4.30% 0.25% 3.37% -0.14% -4.77% -6.70%
2007 1.69% 0.63% 1.81% 2.22% 3.11% 0.67% 0.36% -3.54% 2.85% 4.11% -1.42% 0.76% 13.81%
2006 4.41% 0.53% 2.34% 2.78% -3.30% 0.00% 0.53% 1.09% -2.40% 2.18% 2.07% 2.66% 13.35%
2005 -0.06% 1.78% -0.54% -2.25% 0.77% 2.30% 2.77% 1.14% 3.51% -3.09% 2.65% 2.74% 12.11%
2004 1.95% 2.07% 1.06% -1.06% -1.34% 0.16% -0.13% -0.02% 0.68% 1.13% 3.42% 2.11% 10.37%
2003 0.60% 1.73% 2.76% 0.75% -0.63% -0.08% 0.46% 2.13% 0.74% 2.06% 10.97%
MSCI HFRI MSCI HFRI
Statistical Analysis Fund Fund
World FOF World FOF
Returns Annual Returns
Compound ROR 9.72% 11.64% 7.30% 2008-(YTD) -6.70% -13.98% -5.04%
Cumulative Return 65.28% 81.53% 46.49% 2007 13.81% 7.09% 10.26%
Cumulative VAMI $ 1,653 $ 1,815 $ 1,465 2006 13.35% 17.95% 10.39%
Best Month 4.41% 8.64% 3.07% 2005 12.11% 7.56% 7.50%
Worst Month -4.77% -8.10% -2.90% 2004 10.37% 12.84% 6.87%
Percent Profitable 70.77% 66.15% 72.31% 2003 10.97% 37.65% 10.31%
Risk Latest Returns
Standard Deviation 7.09% 10.50% 4.70% Last Month -4.77% -2.53% -2.73%
Sharpe Ratio (3.3%) 0.89 0.80 0.83 Last 3 Months -1.70% -9.43% -1.82%
Sortino Ratio (10.0%) -0.05 0.20 -0.62 Last Year -4.29% -12.72% -3.22%
Downside Deviation (10.0%) 5.55% 7.54% 4.05% 2-Year 5.90% 1.48% 5.45%
Max Drawdown -7.33% -18.76% -6.04% 3-Year 8.80% 4.78% 6.55%
Months In Maximum Drawdown 9 9 9 4-Year 9.74% 7.41% 7.07%
Months To Recover 5-Year 9.44% 9.01% 7.04%
Comparison To Benchmarks Drawdown Analysis
Alpha 0.37% -0.06% 1 -7.33% -18.76% -6.04%
Annualized Alpha 4.54% -0.77% 2 -4.09% -4.51% -2.70%
Beta 0.44 1.44 3 -3.54% -3.90% -2.18%
Correlation 0.65 0.96 4 -3.09% -3.89% -2.09%
2. July 2008
US Dollar Class A-1
Annualized Return Vs. Annualized Standard Deviation Allocation By Strategy
Commodities/
Commodities/
25% Managed Macro,
Global Futures,
Managed Futures,
6.44% Quantitative
3.43%
3.43% Quantitative Equities, 3.52%
Global Macro, Equities, 3.52%
20% 6.44% Multi-Strategy,
Fixed Income 26.18%
Multi-Strategy,
Arbitrage, 6.14% 26.18%
Annualized Return
15% Fixed Income
Arbitrage, 6.14%
Emerging Markets,
10% Emerging Markets,
8.56%
8.56%
5% Event-Driven, Credit and and
Credit
9.07%Event-Driven, Distressed, 21.11%
Distressed, 21.11%
9.07%
0%
Long/Short Equity
2% 4% 6% 8% 10% 12%
Long/Short Equity
Hedge, 15.54%
Hedge, 15.54%
Chester Global Strategy Fund Limited (USD Class A-1)
MSCI World Index (USD) Price Index
HFRI Fund of Funds Composite Index
Monthly Performance Attribution By Strategy YTD Performance Attribution By Strategy
(contribution to monthly net performance) (contribution to YTD net performance)
Quantitative Equities 0.06% Quantitative Equities 0.07%
Fixed Income Convertible Arbitrage 0.03%
-0.10%
Arbitrage
Managed Futures (CTAs) -0.06%
Emerging Markets -0.19%
Long/Short Equity Hedge -0.24%
Global Macro -0.29%
Fixed Income Arbitrage -0.36%
Event-Driven -0.53%
Emerging Markets -0.71%
Commodities/Managed
-0.57%
Futures
Credit and Distressed -0.88%
Long/Short Equity
-0.59%
Hedge Event Driven -0.90%
Multi-Strategy -1.02%
Global Macro -0.97%
Credit and Distressed -1.54% Multi-Strategy -1.67%
-2.00% -1.50% -1.00% -0.50% 0.00% 0.50% 1.00% -2.5% -2.0% -1.5% -1.0% -0.5% 0.0% 0.5% 1.0%
Top Ten Holdings
5.00%
4.00% 3.52% 3.46% 3.38%
2.76% 2.72% 2.68% 2.56%
3.00% 2.50% 2.45% 2.33%
2.00%
1.00%
0.00%
MADOFF HARBINGER PAULSON HEALTHCOR D.E. SHAW MILLENNIUM TPG AXON BREVAN SHEPHERD D.B. ZWIRN
ADVANTAGE COMPOSITE HOWARD
Fund Information
Fund Name: Chester Global Strategy Fund Assets Under Management: $2.36 Billion
Manager Name: Chester Management (Cayman) Ltd. Minimum Initial Investment: 100,000
Investment Manager: Fairfield Greenwich UK Ltd. Currencies: US$, Euro€
Investment Advisor: Union Bancaire Privée Management Fee 1.15%
Administrator: Citco Fund Services (Europe) B.V. Performance Fee 10.00%
Auditor: KPMG LLP High Water Mark: Yes
Custodian: Union Bancaire Privée Redemptions Quarterly
Legal Advisor (UK): Schulte Roth and Zabel Subscriptions Monthly
Legal Advisor (Cayman): Stuart Walker Hersant Notice: 65 Days
Inception Date: 1-Mar-03 Lockup: 6 month Hard/6 month Soft (3% fee)
Structure: Cayman Islands Corporation IBC Reporting: Monthly NAV
ISIN: KYG209451049
3. IMPORTANT NOTICE
Fund performance reflects the actual historical performance of Chester Global Strategy Fund Ltd. Class A-2 (“Chester”) after being adjusted to reflect the deduction of all fees and expenses, including but
not limited to the 1.15% annual management fee and 10% performance fee charged by Chester Global Strategy Fund Ltd. Class A-1. Chester launched on March 1, 2003, and Class A-1 shares are offered
as of March 1, 2008.
This document does not constitute an offering of any security, product, service or fund, including interests in the Chester Global Strategy Fund Limited (the “Fund”), which can only be made to qualified
investors by the Fund’s Prospectus. This document is for informational purposes only and may not be relied upon by you in evaluating the merits of investing in the Fund. It is qualified in its entirety by
the Prospectus and no offering of interests in the Fund may be made by any literature, advertising, or document in whatever form other than the Prospectus, which supersedes and may qualify, and differ
from, the information and opinions contained herein.
The Prospectus contains important information regarding the Fund's investment objectives, risks, fees, liquidity, and other matters of interest and should be carefully read prior to an investment in the
Fund. There are no assurances that the stated investment objectives of the Fund will be met. The purchase of interests in the Fund is suitable only for qualified investors for whom an investment in the
Fund does not constitute a complete investment program and who fully understand and are willing to assume the risks involved in the Fund’s investment program. The interests described herein will not
be registered under the laws of any jurisdiction including the United States Securities Act of 1933 or the United States Investment Company Act of 1940, the laws of any state of the United States or the
laws of any foreign jurisdiction and may not be offered or sold without compliance to applicable securities laws.
Hedge funds (or funds of hedge funds): Often engage in leveraging and other speculative investment practices that may increase the risk of investment loss; Can be highly illiquid; Are not required to
provide periodic pricing or valuation information to investors; May involve complex tax structures and delays in distributing important tax information; Are not subject to the same regulatory
requirements as registered investment companies; and Often charge high fees. An investor could lose all or substantially all of his or her investment. Where securities are issued in a currency other than
the investors’ currency of reference, changes in exchange rates may have an adverse effect on the value of the investment. Further, any number of conflicts of interest may exist in the context of the
management and/or operation of any hedge fund.
Securities are distributed by Fairfield Greenwich Limited, the Fund’s placement agent, and its subsidiaries: In the United States securities are offered through Fairfield Heathcliff Capital LLC (“FHC”), a
broker-dealer and member FINRA and SIPC. FHC is an affiliate of the Fund's Investment Manager and Manager. Investment management services are offered by Fairfield Greenwich Advisors LLC. The
Fund and the underlying managers of the Fund may employ leverage and the Fund's performance may be volatile. There is no secondary market for the investor’s interest in the Fund and none is
expected to develop. There may be restrictions on transferring interests in the Fund. The Fund's fees and expenses may offset its trading profits. Unaffiliated placement agents may also place limited
partnership interests of the Fund. Assets under management represent the leveraged amount, which is approximately 1.5x, although Fund guidelines permit leverage up to 100% of equity.
The summary/prices/quotes/statistics in this document have been obtained from sources deemed to be reliable, but we do not guarantee their accuracy or completeness. Information contained herein is
subject to change without notice. Past performance is not a guarantee of future results. This document is confidential and may not be reproduced or distributed without the prior written consent of
Fairfield Greenwich Group. Fairfield Greenwich Group is the marketing name for the securities and investment advisory businesses of Fairfield Greenwich Limited and its subsidiaries worldwide.
Additional information is available upon request.
The index information is included merely to show the general trend in applicable markets in the periods indicated and is not intended to imply that the Fund was similar to the index either in
composition or element of risk. It is not possible to invest in an index. The MSCI World Index is a free float-adjusted market capitalization index that is designed to measure global developed market
equity performance. As of June 2006 it consisted of 23 developed market country indices. Hedge Fund Research Inc. (HFRI) Fund of Funds index is an equally-weighted, unmanaged index comprised of
domestic and offshore hedge fund of funds. HFRI Indices are based on information self-reported by hedge fund managers that decide, on their own, at any time, whether or not they want to provide, or
continue to provide, information to HFR Asset Management, L.L.C. Results for funds that go out of business are included in the index until the date that they cease operations. Therefore, these indices
may not be complete or accurate representations of the hedge fund universe, and may be biased in several ways. YTD Performance Attribution By Strategy and Monthly Performance Attribution By
Strategy is calculated on a net basis. The attribution of cash and cash equivalents, are allocated on a prorata basis to the nine strategies. The managers to whom the Fund allocates, some of which may be
affiliated with the Fund's Investment Manager, generally charge a 2% management fee and a 20% performance fee, though this can vary.