AlphaGen Tucana Fund Ltd.

(Class B EUR)

Fund Investment Objectives

Investment Objective - The investment objective of the Company is to provide investors with attractive risk-adjusted returns primarily by taking high conviction long and short positions on a long term basis in companies incorporated or whose principal operations are in Europe. There can be no assurance that the investment objective will be achieved. Investment Policy - The underlying policy of the Company rests on the fundamental belief that the key determinant of share price performance is unexpected changes in earnings growth. The Investment Manager believes that over the medium to longer term, superior share price performance is generated by those companies which deliver growth in excess of market expectations. Conversely, the share price of companies with growth which fails to meet market expectations will perform poorly. The Investment Manager believes that European equity markets are inefficient and therefore the Investment Manager looks to generate capital growth from stock selection via long-term fundamental research. AUM combines all currency classes.