Constellation Equities Class

B - Long/Short

Fund Investment Objectives

The fund's objective is to provide sophisticated investors with superior risk adjusted returns in any market environment. To achieve the objective, the fund employs a classic long/short equity strategy by investing in stocks at the Brazilian Stock Exchange, while carefully controlling portfolio risk and transaction costs. Our stock selection is based on rigorous research driven "bottom-up" fundamental analysis. The fund's net exposure generally remains between 10% to 40% net-long, and leverage is used conservatively.