Persimmon Absolute Return

Fund

Fund Investment Objectives

The Fund seeks to generate annualized returns comparable to the average long-term historical performance of the domestic equity markets with volatility similar to that of the domestic fixed income markets. The Fund is a multi-strategy, multi-manager hedge fund that seeks to achieve superior risk-adjusted returns through diversifying investor capital among 20 to 25 non-traditional money managers (hedge funds). The Fund invests broadly with managers who specialize in alternative strategies including: multi-strategy, global macro, volatility trading, credit strategies, distressed, managed futures, long / short equity, relative value / market-neutral and event-driven / special situations.