Lyrical Multi-Manager Fund,

L.P. Class III

Fund Investment Objectives

The objective of the Fund is to achieve superior investment returns with less volatility and risk than conventional balanced portfolios of equity and fixed income securities. The Fund aims to achieve these returns primarily through investments with multiple investment managers with varying investment strategies, either by investing in investment partnerships or through managed accounts. Redemption Fee: 5% year one, 3% off-anniversary quarters.