SPARX Long-Short Fund Ltd.

USD

Fund Investment Objectives

The investment objective of the Fund is to provide absolute returns with low volatility by identifying and acquiring undervalued Japanese equities and by selling short overvalued, unattractive Japanese equities. The Fund has a net long bias position, is not typically leveraged and is well diversified in the number of holdings based on a bottom-up approach to selective stock selection. The Fund is a conservatively managed, diversified portfolio that allows investors to participate in the Changes in Japan.