Arcus Genseki

Fund

Fund Investment Objectives

Arcus Genseki seeks Japan listed small cap stocks with good value and with sufficient liquidity to trade over a few months. The primary investment objective of the Fund is to achieve positive returns to Shareholders through investing in equities and bonds that are issued by Japanese companies (both listed and unlisted), and other equity linked securities such as (but not limited to) equity warrants, convertible bonds and index futures. The pursuit of this objective utilizes the systematic approach to the pursuit of value developed by the Investment Manager, together with fundamental research. The Fund will not leverage its portfolio or borrow based upon the security of its portfolio assets, except in so far as this is desirable, in the opinion of the Investment Manager, through the use of index futures, for hedging purposes or for efficient portfolio management. The aggregate of long index futures exposure and other securities shall not exceed 105% of the Net Asset Value of the Fund