Basso

Investors Ltd.

Fund Investment Objectives

Basso Investors Ltd. (the "Fund") seeks capital appreciation by investing in global convertible securities. The Fund will typically offset a long position in a convertible security with the short sale of the company's underlying common stock in an attempt to limit total downside risk and also may employ credit default swaps and asset swaps as hedging vehicles. The Fund typically maintains a large number of positions and will use leverage to enhance returns. The Fund also attempts to minimize its exposure to interest rate, equity and credit risk.