Quest Japan is a long/short fund that invests in Japanese publicly-traded equity securities. Atlantic's investment strategy is bottom-up and fundamentally driven, focusing on high conviction investments in publicly traded equities. The Fund seeks to achieve capital appreciation through (i) long investments in undervalued companies, which are temporarily out-of-favor and candidates for an earnings turnaround, restructuring or takeover, (ii) short investments in overvalued companies with near-term catalysts, and (iii) actively managing its net market exposure. Atlantic is often a constructively engaged shareholder, seeking to create unique diligence opportunities and work with senior management to build win-win proposals for both shareholders and management. The investment team focuses its research on approximately 200 high-quality industrial, consumer and business service franchises with market capitalizations between $1 billion and $30 billion. In selecting long investments, we apply a business owner's mindset, which emphasizes predictability of cash flows and adhere to a strict buy/sell discipline. The Fund has a typical net exposure range of 40%-60% and a typical gross exposure range of 90%-130%. Generally, investments include equity securities and short sales but exclude futures.