SMC China Opportunity Fund I

(B)

Fund Investment Objectives

SMC China Opportunity Fund I adopts a long bias absolute return strategy by investing in securities of high quality, growing, reasonably valued Chinese companies. Investment decisions are based on fundamental analyses of industries and companies within China with company valuations acting as the key input. The SMC Team also takes short positions based on an overall assessment of market conditions; however, the Fund maintains a long position bias with a 3 to 4 year investment horizon. Firm does not provide AUM.