Coherence Capital Spectrum

Fund LP Series B

Fund Investment Objectives

The Coherence Capital Spectrum Fund is a Long/Short Credit Fund focused primarily on investments in bonds, CDS, preferred stock and index products predominantly in North America and Europe. The Fund invests in Investment Grade, Crossover and High Yield securities. The Fund's Manager practices a disciplined and detailed analysis of core credits and has deep fundamental and structural credit expertise. The investment team utilizes internally generated research opinions and models and places a strong emphasis on ratings and earnings momentum in its asset selection. The Fund has a diversified portfolio with above average turnover due to opportunistic nature of the strategy. The average gross leverage of the Fund is 2.5 - 3X, with maximum gross leverage of 4X for Investment Grade and 2X for High Yield. The Fund's Manager believes that the current market environment offers very attractive risk adjusted return opportunities, particularly in the liquid investment grade and high yield markets. AUM reflects the aggregate of the various share classes and is denominated in USD.