Phineus

Voyager L.P.

Fund Investment Objectives

The Voyager Fund is a variable long/short global equity (-20% to +80% net exposure) strategy that invests primarily in the technology, communications and media industries. It combines a fundamental, global approach with a multi-factor set of portfolio and risk management disciplines. The Fund seeks high absolute returns regardless of the direction of equity markets, with the highest concern for preservation of capital. The Voyager approach encompasses a unique philosophy and analytical edge in processing publicly available information across the global equity universe. Its advantage is based upon how companies are analyzed; a fully inclusive approach to assessing sources of stock volatility; and the flexible management of style factors. The strategy has been executed consistently since inception in May 2002.