Horizon Fund, L.P.

Fund Investment Objectives

Meridian uses a risk-based portfolio construction process to achieve its diversified funds' objectives, preservation of capital and superior risk-adjusted returns. Meridian focuses on established managers using fundamental analysis to invest predominantly in liquid public markets with limited leverage. Meridian's established manager selection, ongoing monitoring, portfolio construction, and risk management processes have withstood the test of time. Meridian has a demonstrated track record of superior performance in maintaining a highly disciplined and effective investment allocation decision process.