Advance Copernico Argentina

Equity Fund

Fund Investment Objectives

The Fund will seek to achieve its investment objective by investing principally in equity instruments issued by companies listed on the Buenos Aires Stock Exchange or which carry on the predominant part of their business in Argentina (and the securities of which are listed on other exchanges referred to in the Prospectus) which in the Investment Manager's or Investment Adviser's opinion are mispriced relative to their intrinsic value and offer the prospect of superior long term returns relative to the Benchmark Index as a whole. The Fund will principally focus on equity and equity-like instruments including, among others, common and preferred stocks, listed or other warrants including gross domestic product-linked securities issued by the Government of Argentina (GDP warrants) and convertible bonds issued by public companies as well as depository receipts for any such securities (such as ADRs traded in the United States markets and GDRs traded in other world markets such as Argentina and London) to meet the underlying objective of long-term returns in excess of the Benchmark Index.