Blackheath Fund Mgmt Inc.

(Blackheath Offshore Ltd)

Fund Investment Objectives

BLACKHEATH'S SENTIMENT STRATEGY is a pure sentiment-driven approach to futures markets, which is unique in its field. At the heart of our system is a systematic trading methodology to understand and employ sentiment data to exploit hard-wired human biases and crowd behaviour. Our system attempts to identify: 1. Trending markets that are being ignored by speculative traders 2. Oversold or overbought markets where sentiment and positioning are stretched to extremes We trade infrequently, and only when we believe that our indicators present the opportunity for significant profit. That means that while we have the ability to trade up to six markets at a time, most commonly we have outstanding positions on only 3 markets - and sometimes none at all.