Interamerican Fixed Income

Fund, Ltd.

Fund Investment Objectives

Interamerican Fixed Income Fund, Ltd. seeks to maximize returns while limiting the risks by identifying relative value distortions in liquid, dollar denominated obligations of sovereign and corporate issuers in emerging markets. The Fund follows an investment discipline that has been successfully implemented by the portfolio manager for other similar portfolios since 1988. It consists of the systematization of information relevant to the asset class in order to establish a causal relationship between bond valuations and the variables affecting those valuations. This tested relationship (through time-series and cross-section econometric models) is then fed with projected independent variables to obtain estimated valuations and identify current fundamental distortions in relative values. The results of the modeling and its optimization are filtered through the Fund's own exposure limits and its Investment Committee.