Sevenoaks Offshore

Opportunities Fund (Series A)

Fund Investment Objectives

The Fund's investment objective is to achieve attractive, risk-adjusted returns across all market conditions. The Fund is a long/short equity hedge fund that blends Canadian and U.S. equities, across multiple sectors, with a particular emphasis on Canadian resource-related companies. The Fund is comprised of, on average, 25 individual equities. The ratio of long positions versus short positions will vary but is expected to remain within a range of -20% to +60% net long. The Fund will be actively managed in response to any meaningful change in an underlying investment thesis. The investment process will take a disciplined three-step approach: 1) Perform comprehensive top-down, macro-economic analyses across financial markets worldwide. 2) Identify sectors possessing positive risk/reward characteristics and, in turn, the greatest potential for leadership. 3) Select the most attractive companies, within an identified industry, through a combination of fundamental and technical analysis. The Managers will evaluate all publicly available information, attend industry conferences, conduct management meetings, participate in site tours and interview noted industry experts. The Managers will also assess various quantitative screens, financial models and other relevant data monitors. Sevenoaks Capital Inc. places significant importance on capital preservation; as such, the Fund seeks to manage risk through the following methods: Industry limit: 30%, Position limit: 10% Long, 10% Short, Stop-loss: 15%, Maximum leverage: 0%, Net exposure: -20% to +60%, Gross exposure: 100%, Liquidity measures: <100% average daily trading volume.