Ancile Fund -

Class B

Fund Investment Objectives

The ancile Fund has a non-leveraged approach which aims to generate consistent coupon-like returns with low volatilities, making it an attractive investment that enhances diversification in sources of returns and non-correlation to other traditional asset classes as well as alternative investments. The ancile Fund's strategy seeks to capitalize on: i) the basic subsistence needs of a growing world population, ii) an emerging markets' booming consumption drive, iii) an increasingly worldwide difficult access to liquidity, iv) the banking sector structural/regulatory inefficiencies and v) the unmet funding needs of growing real businesses. The ancile Fund finances growth in the real economy by actively providing working capital to non-speculative value added small and medium size emerging markets companies (SME) focusing on agricultural commodities, energies and metals. The Fund efficiently intervenes along the commodity value added chain by using activist and innovative financing structures which are needs tailored. Ancile takes no market risk and seeks to proficiently mitigate all other non market risks, both during the pre-investment phase and also through its activist and daily hands-on post-investment follow-up. No speculation is involved on the commodities prices but ancile positively and efficiently intervenes anywhere along the commodity value added chain by financing the growth of either originators or consumers. The potential beneficiaries of our financings must comply with ancile's thorough on-site due diligence process and collateralize the loan with the existing underlying commodity and its receivables. The implementation of strict SRI/ESG investment selection criteria is an integral part of the Fund's strategy through which it seeks to generate both economical and direct responsible positive impacts. By servicing this much needed non speculative working capital requirements of real economy Actors along the commodity value chain, Ancile takes pride in passing on to Investors this hands-on and active participation to the emerging markets' economical growth and sustainable development.