Fund, L.P.

Fund Investment Objectives

The Fund's assets will be invested in a long/short portfolio focused on small- and mid-capitalization stocks (stocks with less than $5.0 billion in market capitalization). The investment manager's basic philosophy in investing for the Fund will be to identify a core portfolio of small-capitalization companies traded in the U.S. equity markets that are undervalued compared to their historical relative valuations and growth potential and which possess catalysts that will accelerate sales and/or earnings growth. The Fund will also employ short selling as a means to generate returns and manage and reduce market risk. Short sale candidates will be companies with flawed business models that are not expected to generate meaningful free cash flow or profits and or companies with high valuations whose business may be experiencing a deceleration in sales and earnings growth. AUM combines both the onshore and offshore fund.