Multi Strategy SICAV -

Pendulum Class I GBP

Fund Investment Objectives

To achieve the objective of capital appreciation, Multi Strategy SICAV - Pendulum Class I GBP, an open-ended investment company, invests its assets in Multi Strategy SICAV - Pendulum class I USD (FKA DGC Pendulum) and systematically hedges the US dollar currency exposure through currency forward positions. The Fund seeks to generate long-term, consistent returns through investments with carefully selected money managers who look for absolute returns while containing the volatility of their performance at a low level. Most of the selected managers implement arbitrage strategies. The manager's selection process focuses on the liquidity of the underlying investments, the leverage used in the portfolio and the internal risk control procedures in the organization. Most of the selected managers are independent and have a significant portion of their personal wealth invested in their own fund. Fund was formally known as Sterlingarbitrage Ltd. Beginning December 2011, AUM reflects the aggregate of the various share classes and is denominated in USD.