APS Greater China Long/Short

Fund A

Fund Investment Objectives

The investment objective is to achieve long-term capital appreciation through investments in companies established or operating in the PRC which are listed on the A and B Share markets of the Shanghai Stock Exchange and/or the Shenzhen Stock Exchange, as well as companies listed in Taiwan, Hong Kong and Singapore. The Fund may establish short positions in individual stocks or market/index contracts in all markets of the Fund's investment universe whenever the Manager deems such action necessary to protect the portfolio from price falls or for any other reasons whatsoever.