NGA Capital Fund Limited

(Master P Class)

Fund Investment Objectives

NGA translates key macro themes into targeted factor exposures using both a tactical macro and relative value investment approach to liquid fixed-income instruments. NGA believes that identification and optimal expression of trades by owning attractive risk factors (liquidity premium, option premium, credit premium, swap spread premium, etc.) can lead to a more attractive risk/return. The strategy seeks to identify high Sharpe ratio trades across various fixed-income sectors, including Corporate, MBS, CMBS, and G7 Government instruments. These strategies are combined in an optimal portfolio framework that incorporates a rigorous risk management methodology.