OC Premium Small Companies

Fund

Fund Investment Objectives

The OC Premium Small Companies Fund invests principally in high quality small and medium sized industrial stocks with sustainable business models and attractive investment fundamentals listed or about to list on the Australian Stock Exchange (ASX). The aim of the Fund is to purchase securities that we believe are trading below their intrinsic value and have sound long-term investment fundamentals. The investment approach favours companies with: strong management; simple and transparent business models; sustainable competitive advantage and attractive valuation metrics based on proven financial analysis and valuation techniques. The focus is on companies where they can understand and forecast the key earnings drivers. Cash is not allocated strategically, rather it is a result of the investment process, with the cash balance simply being the residual after the investments have been purchased or sold. (Actual Inception date is December 8th, 2000)