MidOcean Absolute Return

Credit Fund

Fund Investment Objectives

The MidOcean Absolute Return Credit Fund ("MARC") was launched in January, 2010 and invests in a long/short, diverse portfolio of liquid, corporate credit obligations. The MARC Fund seeks to generate stable, absolute returns under all market conditions and may employ leverage to achieve its target returns. The MARC Fund focuses on the "crossover" credit spectrum (BBB and BB rated companies) and employs an investment approach that combines fundamental analysis with relative value asset selection. The portfolio team manages the Fund with a heavy emphasis on minimization of NAV volatility.