Brazil Multi-Strategy Fund

Ltd.

Fund Investment Objectives

Brazil Multi-Strategy Fund, ("COSMOS USD") is fully dedicated to Brazilian hedge funds since August 2007. Our aim is to capture at least 2/3 of the equity market upside and only participate by 1/3 or less to the downside. The Fund's investment objective is focused on preserving capital while generating consistent, absolute returns by allocating its assets among a selected group of money managers and traders who employ a variety of investment strategies and techniques. Target return is 12 to 16% p.a. net with volatility of 6 to 8% over the economic cycle.