Masters Research Partners,

L.P.

Fund Investment Objectives

Allocates investments to funds that have an edge in their area of expertise. Management may have superior access to research or market information, or unique ability, knowledge, or contacts in industry or on Wall Street that give them an edge in their sector or niche which allows them to interpret trends or opportunities ahead of others. Funds include long/short equity funds investing in the U.S. stock markets and international stock markets, macro funds, sector specialist funds, and emerging market funds. Seeks annual returns of 12-20% while reducing the risk of loss through diversification of asset classes.