Private Advisors Stable

Value Fund, Ltd.

Fund Investment Objectives

The investment objective of the Low Volatility Multi-Strategy style funds of funds is to achieve consistent, positive returns that are not dependent upon a rising equity market or correlated with the return of the S&P 500, while attempting to reduce risk and volatility. Preservation of capital is the Partnership's highest priority. The goal is to invest with multi-strategy and single strategy or niche managers with solid infrastructures, deep analytical teams, and proven track records. Selected managers are generally well-known and highly respected within the market. In addition in the Firm's view, unlike many hedge funds, Private Advisors' managers are conservative (i.e. typically low leverage, minimal residual equity exposure, little exposure to emerging markets, etc.). In regards to the Management Fee: 1.25% with no Performance Fee or 1.00% with 5% Performance Allocation (subject to standard loss carry forward)